1,3-Propanediol Market Recent Trends, In-depth Analysis, Market Size Research Report Forecast up to 2028

The 1,3-propanediol market accounted for approximately US$ 470 million in 2022 and is projected to exceed US$ 756 million by 2028 with an estimated CAGR of 8.2% between 2022 and 2028.

1,3-Propanediol, also known as 1,3 PDO, is an organic compound widely used as an intermediate in the production of several compounds and materials, including polyurethanes, polyesters, and polyether. It is also used as a bulk chemical for manufacturing lubricants, pharmaceutical drugs, cosmetics and personal care products, and cleaning agents such as detergents. 1,3-propanediol is primarily used as a monomer in synthesizing polytrimethylene terephthalate, which resembles the properties of textiles, fibers, carpets, and coatings. 1,3-propanediol can replace glycols in food and flavor synthesis. This factor is driving its demand from the food & beverages industry.

DuPont Tate & Lyle Bio Products; Tokyo Chemical Industry Co., Ltd.; DSM; Merck KGaA; Zhangjiagang Glory Biomaterial Co. Ltd; Zouping Mingxing Chemical Co., Ltd; Metabolic Explorer; Haihang Industry, Co. Ltd.; Henan GP Chemicals Co., Ltd; and Jinan Qinmu Fine Chemical Co., Ltd. are the key market players profiled in the study. Several other major companies were studied and analyzed in this research study to get a holistic view of the 1,3-propanediol market and its ecosystem.

1,3-propanediol is an important building block in the production of polytrimethylene terephthalate (PTT). PTT is majorly used in fibers for manufacturing carpets and textiles. The carpets and textiles made of PTT fibers are elastic, strong, have high abrasion resistance, and are resistant to wrinkles. PTT is also used for engineering applications such as automotive components, electronic components, and consumer goods. The rising demand for polytrimethylene terephthalate for various applications is also fueling the need for 1,3-propanediol, propelling the market growth.

The global 1,3-propanediol market is segmented based on type and application. Based on type, the market is segmented into conventional and biobased. In terms of application, the market is segmented into polytrimethylene terephthalate synthesis, polyurethane synthesis, cosmetic products, cleaning products, and others.

The COVID-19 pandemic brought unprecedented challenges to many industries, including the chemicals & materials industry. Lockdowns, border restrictions, travel bans, the shutdown of manufacturing units, and other safety protocols under the guidelines of governments of different nations negatively impacted the operations of manufacturing companies. Moreover, supply chains were completely disrupted due to nationwide lockdowns and border restrictions, which affected the production and distribution of various chemicals, including 1,3-propanediol.

This also caused a spike in prices of various chemical intermediates, including 1,3-propanediol, hampering the market growth. Also, personal care, cosmetics, and pharmaceutical industries were hit by the COVID-19 pandemic due to the shutdown of manufacturing units and difficulty in sourcing raw materials. This led to a significant decline in demand for 1,3-propanediol, which negatively impacted the market growth. However, in 2021, economies started reviving due to the relaxation of various restrictions and increased vaccination rates. Manufacturers in the chemicals & materials industry were permitted to operate at full capacity, which helped them boost production and overcome demand and supply gaps. All these factors had a positive impact on the 1,3-propanediol market. Thus, initially, in 2020, the 1,3-propanediol market faced the negative impact of the pandemic; however, in 2021, as manufacturers resumed their operations, the market witnessed growth.

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