- Bio-based PDO
- Petrochemical-based PDO
1,3-Propanediol (PDO) Market size was valued at USD 985.1 million in 2022 and is poised to grow at a CAGR of 10.8% over 2023-2029. 1,3-Propanediol is a three-carbon diol compound derived from both petroleum-based and bio-based sources and has several desirable properties, including its ability to serve as a building block for various chemicals and materials and is used in various industrial applications, including as a bio-based alternative to traditional petrochemical-derived chemicals. The increased awareness and concerns about sustainability addressed by bio-based PDO made from renewable sources, a more environmentally friendly option than conventional compounds made from petrochemicals drive the market.
Furthermore, the stringent regulations and policies adopted by various countries to reduce carbon emissions and promote sustainable practices by encouraging the adoption of bio-based PDO are also anticipated to propel the market growth. Utilizing PDO, biobased polymers and bioplastics are being developed, providing an opportunity to meet the rising need for environmentally friendly packaging and products. The alignment of PDO with the concept of a circular economy that encourages recycling, resource conservation, and less waste production is currently popular in the market. But the high cost of PDO compared to other conventional petrochemicals and the stringent regulatory policies might hinder the market growth. However, the increased demand in various applications such as polytrimethylene terephthalate (PTT), polyurethane (PU), cosmetics, personal care, and cleaning products, shift in consumer preference toward bio-based products, and increase in consumer acceptability for bio-based products is anticipated to burgeon the market during forecast years.
1,3-Propanediol (PDO) Market Key Developments:
- In May 2019, DuPont Tate & Lyle Bio Products Company, LLC, Corbion, INOLEX Inc., and ACT Solutions Corp collaborated to create a bio-based content formulation for personal care products. This partnership helped the company meet the growing demand for natural products.
- In March 2018, DuPont Tate & Lyle Bio Products Company, LLC announced plans to increase its annual production of bio-based 1,3-propanediol by 35 million pounds at its manufacturing facility in Tennessee, US.
1,3-Propanediol Market Summary
Study Period
2023-29
Base Year
2022
CAGR
10.8%
Largest Market
North America
Fastest Growing Market
Asia Pacific
1,3-Propanediol (PDO) Market Dynamics
The market is expected to rise owing to the domination of the industry by Bio-based PDO owing to the shift in consumer preference towards bio-based products. Recently, DuPont Tate & Lyle's production methods claim to use 40% less energy and 20% less greenhouse gas while producing bio-based products. The development of affordable bio-based PTT has increased the demand for and credibility of bio-based PDO. Additionally, it is projected that the market will be driven by the rising focus on fossil-free resources due to the fact that petroleum is a limited resource and contributes to global warming, making natural gas and shale gas some of the short-term solutions to the problem. Moreover, 1,3-propanediol has proved to be a valuable alternative to petrochemical diols, such as 1,6-hexanediol and neopentylglycol, which are currently used as diols in most resin applications.
North-America Got Significant Share of
1,3-Propanediol (PDO) Market Regional Analysis
The North America dominates the market is poised to grow at 11.1% CAGR over the forecast period owing to increase in consumer spending and the use of personal care goods in nations like the United States and Canada. Furthermore, due to the expanding demand for PTT in newly emerging end-use sectors and the increasing use of bio-based products, North America will dominate this market. Additionally, the US is home to several key companies’ headquarters, that has led to an increase in competition and increase in sales in the market.
Latin America
Europe
Asia Pacific
Middle East
North America
Key Features of the Reports
- The 1,3-propanediol market report provides granular level information about the market size, regional market share, historic market (2018-2022) and forecast (2023-2029)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments, and start-up details that are actively working in the market
- The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
1,3-Propanediol Market Segmentation
By Source
By Application
- Polyurethane
- Personal Care Products
- Polytrimethylene Terephthalate
- Other Applications
By End User
- Synthetic Drugs
- Engineering Plastics
- Cosmetics and Pharmaceutical
- Textile Dyeing and Finishing
- Other End-user Industries
Frequently Asked Questions
The 1,3-Propanediol (PDO) market valued at USD 985.1 million in 2022 and is expected to grow at 10.8% CAGR over the forecast period 2023 – 2029.
DuPont, Metabolic Explorer SA, Zhangjiagang Glory Biomaterial Co., Ltd., Zouping Mingxing Chemical Co., Ltd., Shell Chemicals LP, Merck KGaA, Tokyo Chemical Industry Co., Ltd., Shenghong Group Holdings, Primient Covation LLC, Haihang Industry Co. Ltd are a few companies operating in 1,3-Propanediol (PDO) market.
The base year is 2018-2022 and the forecast year is 2023-2029.
- DuPont
- Metabolic Explorer SA
- Zhangjiagang Glory Biomaterial Co., Ltd.
- Zouping Mingxing Chemical Co., Ltd.
- Shell Chemicals LP
- Merck KGaA
- Tokyo Chemical Industry Co., Ltd.
- Shenghong Group Holdings
- Primient Covation LLC
- Haihang Industry Co. Ltd.