Market Size of 1,3-Propanediol (PDO) Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 7.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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1,3-Propanediol (PDO) Market Analysis
The Global 1,3-Propanediol (PDO) market is anticipated to register a CAGR of over 7% during the forecast period.
The market was negatively impacted due to COVID-19. Due to supply chain disruptions, work stoppages, and measures imposed by governmental authorities to slow the virus spread negatively affected the market. Hence, such impact and uncertainties due to the outbreak acted as a stumbling block for the 1,3-Propanediol (PDO) market. However, the condition is recovered in 2021, which is expected to benefit the market during the forecast period.
- Over the medium term, the increasing application scope of polyesters using 1,3-propanediol and the growing polytrimethylene terephthalate (PTT) demand are the major driving factors.
- On the other side, the presence of cheaper substitutes hinders the market's growth.
- Growing demand for bio-based products acts as an opportunity for the growth of the market in near future.
- Asia-Pacific region is expected to be the fastest growing market, with the most significant consumption from countries like China and India.
