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Global 1,3-Propanediol Market to Grow at a CAGR of 7.2% During 2022-2027, Aided by the Rising Application of the Product in the Manufacturing of Polyurethane

According to a new report by EMR titled, ‘Global 1,3-Propanediol Market Report and Forecast 2022-2027’, the market attained a value of above USD 428.1 million in 2021. The industry is further expected to grow at a CAGR of 7.2% between 2022 and 2027 to reach a value of more than USD 649.7 million by 2027.

The 1,3-propanediol industry is being driven by the rising application of the product in the manufacturing of polyurethane. Hence, the growing demand for polyurethane in various end use industries including furniture, building and construction, and automotive, among others is likely to propel the demand for 1,3-propanediol in the forecast period. Further, the market is anticipated to be aided by the rising demand for the product in the production of synthetic drugs owing to its favourable properties.

In March 2018,  DuPont Tate & Lyle Bio Products, LLC, a joint venture between DuPont de Nemours Inc (NYSE: DD) and Tate & Lyle PLC (OTCMKTS: TATYY), announced the expansion of its manufacturing facility in Loudon, Tennessee in an endeavour to augment the annual production of bio-based 1,3-propanediol by 35 million pounds.

In terms of region, North America is likely to account for a significant share in the market and is anticipated to witness a considerable growth in the forecast period. The market in the region is driven by the rising demand for the product in the production of personal care products and cosmetics, fuelled by the rising disposable incomes, rising standards of living, and increasing population in the region. Furthermore, the growing investments by the leading market players in research and development activities to develop advanced solutions and production methods are estimated to support the market growth in the forecast period.

Market Breakup by Source, Application, End User, and Region:

  • The market is segmented, based on source, into bio-based PDO and petrochemical-based PDO.
  • The major applications of the product include polyurethane, personal care products, and polytrimethylene terephthalate, among others.
  • The different end user industries include synthetic drugs, engineering plastics, and textile dyeing and finishing, among others.
  • Region-wise, the global market for 1,3-propanediol can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for 1,3-propanediol is being driven by the rising application of the product in the manufacturing of polyurethane. 
  • The thriving building and construction industry in emerging economies owing to the rapid urbanisation is likely to aid the market. 
  • The market is expected be driven by the rising demand for the product from personal care and cosmetics industry, fuelled by the rising standards of living and growing global population.
  • The market is anticipated to be further aided by the growing efforts by the manufacturers towards strengthening the supply chain of the product.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for 1,3-propanediol for the periods (2017-2021) and (2022-2027). 
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the sources, applications, end users, and regions of 1,3-propanediol.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global 1,3-propanediol market are DuPont Tate & Lyle Bio Products, Tokyo Chemical Industry Co. Ltd, Haihang Industry Co., Ltd., Sheng Hong Group Holdings Ltd, and Merck KGaA, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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