1,3-Propanediol (PDO) Market | Key players operating in the market include DuPont Tate & Lyle Bio Products Company, Zhangjiagang Glory Biomaterial, Zouping Mingxing Chemical, Haihang Industry Company, Hunan Rivers Bioengineering

According to recent market research "1,3-Propanediol (PDO) Market by Application (Polytrimethylene terephthalate (PTT), Cosmetics, Personal Care & Cleaning Products, Polyurethane (PU)) and Region (Americas, APAC, Europe, Middle East & Africa (EMEA)) - Global Forecast to 2024", The 1,3-Propanediol market is projected to reach USD 870 million by 2024, at a CAGR of 12.2% from USD 490 million in 2019.

Growing demand for bio-based products to lower greenhouse gas emissions and energy consumption and increasing use in resin application is expected to drive the 1,3-propanediol market. Also, the growing demand for PTT in apparel and carpets is estimated to boost the growth of the 1,3-propanediol market.

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Polytrimethylene terephthalate (PTT) is estimated to be the largest application of 1,3-propanediol, in terms of value, in 2019. The demand for PTT is growing in apparel and textiles. The growth of the global textiles and apparels industries is expected to play an important role in augmenting the demand for PTT, which in turn, is expected to bolster the sales of 1,3-propanediol as it is the primary feedstock for PTT. The manufacture of bio-based PTT uses less energy and releases less greenhouse gas compared to nylon 6 and nylon 6.6.

The Americas is the largest 1,3-propanediol market and is expected to continue its dominance during the forecast period. The market is primarily driven by increasing production and consumption of 1,3-propanediol in PTT, cosmetics, personal care & cleaning products, and polyurethane applications. Also, the presence of DuPont Tate & Lyle Bio Products Company, LLC, the largest manufacturer of bio-based 1,3-propanediol in the region, is driving the market.

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The 1,3-propanediol market size is projected to reach USD 870 million by 2024 from the estimated USD 490 million in 2019, at a CAGR of 12.2% between 2019 and 2024. High demand for bio-based products, less greenhouse gas emissions, and low energy consumption during the production process of 1,3-propanediol are factors driving the demand for 1,3-propanediol. However, the availability of substitutes with comparatively low prices is restraining the growth of the 1,3-propanediol market. On the other hand, there is high growth potential in emerging economies and new application areas, which provide opportunities for the players in the 1,3-propanediol market. The players in the 1,3-propanediol market are mainly concentrating on expansions, innovations, and partnerships to meet the growing demand in various applications. Expansion help companies to increase their global reach and cater to the local market.

The growth of the 1,3-propanediol market has been influenced primarily by expansions, innovations, and partnerships during the period between 2015 and 2019. The market is consolidated with the dominance of DuPont Tate & Lyle Bio Products Company, LLC (US). All these developments are undertaken by DuPont Tate & Lyle Bio Products Company, LLC. Other small players which are present in the market are Zhangjiagang Glory Biomaterial Co., Ltd. (China), Zouping Mingxing Chemical Co., Ltd. (China), Haihang Industry Company Ltd. (China), Hunan Rivers Bioengineering Co., Ltd. (China), Merck KGgA (Germany), Tokyo Chemical Industry Co., Ltd. (Japan), and Zhangjiagang Huamei Biomaterial Co., Ltd. (China). Some of the companies which are trying to enter the 1,3-propanediol market are METabolic Explorer (France) and Sheng Hong Group Holdings Ltd. (China).

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DuPont Tate & Lyle Bio Products Company, LLC is the largest manufacturer of 1,3-propanediol. The company focusses on expansions, innovations, and partnerships to strengthen its position in the market. For instance, in October 2018, the company opened a warehouse and distribution center at its manufacturing site in Loudon, Tennessee, US. It focuses on increasing its production capacity to meet the growing demand for 1,3-propanediol in different applications. The company announced to increase its production capacity by 35 million pounds in March 2018. In the recent past, the company entered into a partnership with L.V. Lomas Ltd. (Canada) (which is renamed as IMCD Canada Ltd.) to distribute Zemea propanediol in Canada. The company has a strong distribution network, and its product is available in many countries such as the US, Mexico, Italy, Greece, Poland, Turkey, Sweden, Denmark, Russia, Estonia, Norway, India, and Brazil. In October 2017, DuPont (US), INVISTA (US), and DuPont Tate & Lyle Bio Products Company, LLC entered into a partnership to develop a series of innovative and enhanced sustainable textile solutions for workwear and outdoor wear.

Another player in the market is Zhangjiagang Glory Biomaterial Co., Ltd. (China), which focuses on increasing the production capacity of 1,3-propanediol. The company started the 1,3-propanediol program in 2011. The company plans to combine the 1,3-propanediol plant and PTT plant organically so that it can increase its profit.

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