|Study Period:||2016 - 2026|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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The Global 1,3-Propanediol (PDO) Market was valued at over USD 420 million in 2020. and the market is projected to register a CAGR of over 7% during the forecast period (2021-2026).
The global beauty industry faced a critical time due to COVID-19. 1,3-propanediol is mainly used in personal care and the production of polymers. The pandemic has negatively affected the personal care and beauty industry as demand from residential and professional users has reduced to a considerable extent. Polyurethane and polytrimethylene terephthalate are mainly used in the textile industry. The textile market has suffered from prolonged lockdowns and regulations, thus decreasing the market for PDO. According to the study by the International Labour Organization (ILO), the global textile trade collapsed during the first half of 2020. Additionally, exports to the major buying regions in the European Union, the United States, and Japan fell by around 70%. The industry also suffered several supply chain disruptions due to the shortages of cotton and other raw materials.
- Over the medium term, the increasing application scope of polyesters using 1,3-propanediol and the growing demand for polytrimethylene terephthalate (PTT) are the major driving factors.
- On the other side, the presence of cheaper substitutes and unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of the market.
- The North American region dominated the region across the globe, with the most significant consumption from countries such as the United States and Mexico.
Scope of the Report
1,3-propanediol (PDO) is a colorless viscous liquid that is soluble in water and is mainly used as building blocks in the production of polymers such as polytrimethylene terephthalate (PTT). The 1,3-propanediol market is segmented by source, application, end-user industry, and geography. By source, the market is segmented into bio-based PDO and petrochemical-based PDO. By application, the market is segmented into polyurethane, personal care products, polytrimethylene terephthalate (PTT), and other applications. By end-user industry, the market is segmented into synthetic drugs, engineering plastics, textile dyeing and finishing, and other end-user industries. The report also covers the market size and forecasts for the 1,3-Propanediol (PDO) Market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (in USD Million).
|Personal Care Products|
|Textile Dyeing and Finishing|
|Other End-user Industries|
Key Market Trends
Increasing Demand from the Bio-Based PDO Segment
- The production of 1,3-propanediol (PDO) can be done from two sources, namely petrochemical-based and bio-based. Glycerol has been attaining importance as the most important raw material to produce 1,3-propanediol (PDO). Glycerol is manufactured from a by-product resulting from biodiesel. The growing production of biodiesel is likewise projected to take a positive effect on the development of the market.
- A transition of decreasing dependence on petroleum products on account of increasing concerns about the environment and instability about its pricing has encouraged the demand for biodiesel.
- Bio-based 1,3-propanediol is an FDA-certified product, which can be employed in various applications, namely functional and deicing fluid, coatings, cosmetic and personal care, home care, polymers, and fibers, among others.
- Being a skin-friendly preservative, 1,3-propanediol is widely used in cosmetics. According to L'Oreal, the global cosmetics industry market is estimated at over EUR 200 billion, a sharp fall compared to 2019 due to COVID-19, and the industry is expected to increase during the forecast period post-pandemic.
- Increasing R&D initiatives to develop bio-based feedstock is expected to create opportunities for market players. Bio-based PDO is presumed to witness a high growth rate compared to its conventional counterpart.
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The North American Region to Dominate the Market
- North America is the largest market for 1,3-propanediol 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.
- However, due to COVID-19, the North-America region had experienced a 24% breakdown of the cosmetic market in the year 2020, according to the LOREAL annual report, thus hindering the demand for PDO over the short term.
- Nevertheless, the increasing investments in the advancement of the retail sector have made the availability of consumer goods easier, which in turn is boosting the demand for 1,3-propanediol from the personal care and home care industries.
- Besides, the transition towards the use of biobased products along with the prevalence of stringent environmental regulations has further increased the production of biodiesel primarily in the United States and Canada, which, in turn, propelling the market growth.
- Additionally, polyester manufactured using 1,3-Propanediol offers excellent resistance to impact and flexibility as associated with polyester that does not comprise 1,3-propanediol. Hence, the growing use of polyesters manufactured using 1,3-Propanediol is stirring the development.
- All such aforementioned factors are propelling the demand for the market studied in the region during the forecast period.
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The global 1,3-propanediol (PDO) market is consolidated in nature, with a few major players holding a significant portion of the market. Some major companies include Metabolic Explorer, Merck KGaA, Dupont Tate & Lyle Bio Products Company, Zhangjiagang Glory Chemical Industry Co. Ltd, and Haihang Industry.
- In September 2020, Royal DSM started the market roll-out of its first European-made cosmetic grade PDO with METEX NØØVISTA. In December 2019, DSM announced that it had obeyed an exclusive global strategic alliance to market the first made-in-Europe non-GMO cosmetic grade PDO (1,3 Propanediol) with METEX NØØVISTA, the industrial subsidiary of METABOLIC EXPLORER.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1.1 Increasing Application Scope of Polyesters Using 1,3-Propanediol
4.1.2 Growing Demand for Polytrimethylene Terephthalate (PTT)
4.2.1 Presence of Cheaper Substitute Products
4.2.2 Unfavorable Conditions Arising Due to the COVID-19 Outbreak
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION
5.1.1 Bio-based PDO
5.1.2 Petrochemical-based PDO
5.2.2 Personal Care Products
5.2.3 Polytrimethylene Terephthalate
5.2.4 Other Applications
5.3 End-user Industry
5.3.1 Synthetic Drugs
5.3.2 Engineering Plastics
5.3.3 Textile Dyeing and Finishing
5.3.4 Other End-user Industries
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.4.2 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
5.4.4 South America
184.108.40.206 Rest of South America
5.4.5 Middle-East and Africa
220.127.116.11 Saudi Arabia
18.104.22.168 South Africa
22.214.171.124 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share** (%)/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 DuPont Tate & Lyle Bio Products
6.4.3 Haihang Industry
6.4.4 Hunan Rivers Bioengineering Co. Ltd
6.4.5 Merck KGaA
6.4.6 Metabolic Explorer
6.4.7 Sheng Hong Group Holdings Ltd
6.4.8 Royal Dutch Shell PLC
6.4.9 Tokyo Chemical Industry Co. Ltd
6.4.10 Zhangjiagang Glory Chemical Industry Co. Ltd
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Demand for Bio-based Products
7.2 Other Opportunities
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Frequently Asked Questions
What is the study period of this market?
The 1,3-Propanediol (PDO) Market market is studied from 2016 - 2026.
What is the growth rate of 1,3-Propanediol (PDO) Market?
The 1,3-Propanediol (PDO) Market is growing at a CAGR of >7% over the next 5 years.
Which region has highest growth rate in 1,3-Propanediol (PDO) Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in 1,3-Propanediol (PDO) Market?
North America holds highest share in 2020.
Who are the key players in 1,3-Propanediol (PDO) Market?
Metabolic Explorer, Merck KGaA, DuPont Tate & Lyle Bio Products Company, LLC, Zhangjiagang Glory Chemical Industry Co., Ltd, Haihang Industry are the major companies operating in 1,3-Propanediol (PDO) Market.