Press release
Global 1, 3-Propanediol Market Report 2019: Industry Trends & Growing Popularity, Top Manufacturers Dupont Tate & Lyle Bio Products Company, LLC, Metabolic Explorer SA, Zhangjiagang Glory Biomaterial Co. Ltd And Zouping Mingxing Chemical Co., Ltd.
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The global 1, 3-propanediol market is anticipated to grow at a CAGR of over 9% during the given period. Among the various application segments in 1, 3-propanediol market, the polytrimethylene terephthalate (PTT) followed by polyurethane is dominating the market and is anticipated to continue its dominance over the forecast period. polytrimethylene terephthalate (PTT) is extensively used in the production of cosmetic & personal care products, home care products, engine coolants, and heat transfer fluids among others, whereas polyurethane is mainly used in the building & construction and automobile industries.
Market Segmentation
The global 1,3 propanediol market is segmented into application and region. Based on application, the global market of 1, 3-propanediol can be further segmented into polytrimethylene terephthalate, polyurethane, cosmetic & personal care, household, engine coolants, heat transfer fluid, de-icing fluid and others. Based on region, the global 1, 3-propanediol market is bifurcated into Asia Pacific, North America, Latin America, Europe, and the Middle East & Africa.
Market Scenario
Among the various applications of the 1, 3-propanediol, the polytrimethylene terephthalate segment was anticipated to be the dominant segment in 2016 and is expected to show the same trend during the forecast years. The polyurethane segment is expected to witness the highest growth with a CAGR of over 4.5% during the assessed period.
The growing population has increased the demand for cosmetics & personal care and household products, in turn, adding to the demand for 1,3 propanediol market. North America followed by Europe is anticipated to be the largest markets during the given period.
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The global 1, 3-propanediol market is spanned across five key regions: Europe, Asia Pacific, North America Latin America, and the Middle East & Africa. Among these, Asia Pacific is the fastest growing market during the forecast period. The developed automobile, cosmetic & personal care industry along with the growing shift towards biodiesel is positively contributing to the growth of the market.
The growing demand for polytrimethylene terephthalate across various applications such as cosmetic & personal care, engine coolants, and de-icing fluid among other is substantially contributing to the growth of the segment.
Competitive Analysis
DuPont Tate & Lyle Bio Products Company, LLC (U.S.), Metabolic Explorer SA (France) Zhangjiagang Glory Biomaterial Co. Ltd (China) and Zouping Mingxing Chemical Co., Ltd (China), Royal Dutch Shell (Netherland), Shanghai Jinjinle Industry Co., Ltd (China), Zouping Mingxing Chemical Co.,Ltd (China), Salicylates And Chemicals Pvt. Ltd (India), and Chongqing Kunlun Chemical Co., Ltd (China) among others.
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