It finds wide applications as a monomer for polytrimethylene terephthalate (PTT), which is used to produce fabrics, carpets, engineered yarns, and industrial textiles. Other applications of 1,3-propanediol include automotive coolants and antifreeze, de-icers, cosmetics and personal care products.

The Global 1,3 Propanediol Market is estimated to be valued at US$ 424.5 Mn in 2024 and is expected to exhibit a CAGR of 9.1% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Global 1,3 Propanediol Market are Tokyo Chemical Industry Co., Ltd., Shenghong Group Holdings, Primient, Haihang Industry, DuPont, Metabolic Explorer, Zhangjiagang Glory Biomaterial Co., Ltd., Zouping Mingxing Chemical Co., Ltd., Shell Chemicals LP, and Merck KGaA. Key players are focusing on capacity expansion through partnerships and collaborations to leverage the rising demand from end-use industries.

The growing applications of polytrimethylene terephthalate in textile manufacturing offer significant opportunities for players in the 1,3-Propanediol Market Size. The increasing adoption of bio-based and sustainable polymers is driving the demand for 1,3-propanediol produced through fermentation processes.

North America and Europe currently dominate the Global 1,3 Propanediol Market. However, Asia Pacific is expected to witness strong growth owing to the expanding textile industry and rapid industrialization in China, India, Indonesia, and Vietnam. Key players are investing in production facilities in Asia Pacific to capitalize on the region's high growth potential.

Market Drivers

The rising adoption of bio-based polymers across industries is a key driver boosting the Global 1,3 Propanediol Market. 1,3-Propanediol produced through fermentation using renewable resources is witnessing increasing demand due to stringent regulations regarding the use of petroleum-based chemicals. This is encouraging manufacturers to focus on developing sustainable and eco-friendly production technologies.

PEST Analysis
Political: The global 1,3 Propanediol market is influenced by various environmental and trade policies implemented by regulatory bodies across the world. Regulations impacting production and supply chains will impact this industry.
Economic: Changes in global and regional economic conditions influence the demand cycles for end use industries that drive the 1,3 Propanediol market. Fluctuations in crude oil prices also impact raw material costs.
Social: Growing consumer demand for more eco-friendly products generates demand for bio-based products including 1,3 Propanediol. Heightened awareness about sustainability positively impacts the market.
Technological: Advances in fermentation processes for producing 1,3 Propanediol from renewable feedstocks help reduce costs and drive its adoption as replacement for petro-based materials. Development of innovative applications further stimulates market growth.

The Asia Pacific region holds the largest share of the global 1,3 Propanediol market in terms of value due to presence of major manufacturers and growing end use industries in countries like China, Japan and India. North America is another major regional market driven by extensive R&D efforts and innovative applications of 1,3 Propanediol in various industries. The European market is projected to witness fastest growth during the forecast period due to strong government support for bio-economy and sustainability initiatives leading to increased adoption of bio-based chemicals like 1,3 Propanediol across different sectors.

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