Bio-based 1,3-Propanediol Market Industry Growth, Size, Trends and Forecast till 2027
The Global Bio-based 1,3-Propanediol Market is forecast to reach USD 1.66 Billion by 2027, according to a new report by Reports and Data. Bio-based 1,3-Propanediol (PDO) is a colorless organic viscous liquid with high boiling point and water-miscible properties. This organic chemical compound is typically produced by the hydration process of acrolein or oxo-synthesizing ethylene oxide and hydrogenating the produced aldehydes. Also, more recent bioprocessing production processes are also followed by some of the prominent players in the market to manufacture this chemical. Global Bio-based 1,3-Propanediol market is projected to drive significantly as the demand for this isomer of Propanediol in various industrial & commercial applications is being propelled substantially. The continuous expansion of Polytrimethylene Terephthalate (PTT) fibers, adhesives, detergent, tonner, coating, and anti-freezing agents are expected to drive the demand throughout the forecast period primarily.
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The Asia Pacific region is expected to retain its
dominance in the global market. The market is North America is growing at apace
due to the extensive use of Bio-based 1,3-Propanediol in various industrial
sectors. China and India are some of the fastest-growing markets in the world,
and the United States and China hold some of the most prominent players in the
market.
Competitive
Landscape:
The report also covers
SWOT examination and Porter’s Five Forces analysis to offer details about
leading players. The key players in the market are focusing on developing new
strategies such as mergers and acquisition, joint ventures, new product
launches, agreements, and partnerships to retain their market position and
expand their product base.
Leading
companies operating in the market and profiled in the report include:
· DuPont
Tate & Lyle Bio Products Company, LLC
· Zhangjiagang
Glory Biomaterial Co., Ltd
· Royal
Dutch Shell PLC
· Haihang
Industry Co., Ltd
· Merck
KGaA
· Tokyo
Chemical Industry Co., Ltd
· Cargill
· Incorporated
· Hunan
Rivers Bioengineering Co., Ltd
· Godrej
Industries Ltd
· Zhangjiagang
Huamei Biomaterial Co., Ltd
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Further key findings from the report
suggest
- 1,3-Propanediol
can act as a multipurpose ingredient that includes humectant, emollient,
booster, process solvent, viscosity enhancer, carrier for actives,
chemical intermediate, and others. This organic compound is a high purity
chemical ingredient produced from renewable sources which are completely
GMO-free and doesn’t create risks for the environment.
- Growing
penetration of the online retailing businesses for the chemicals and
materials, especially in the emerging nations in the Asia Pacific, is
helping the market grow by broadening the outreach in the areas where the
offline vendors are unavailable. Also, due to the non-involvement of the
distributors in the supply chain model, the profit margin is way more than
that of the offline retailing distribution channel. The online retailing
is expected to gain a market share of 26.2% by 2027.
- Growing
use of the cosmetic & personal care products such as skin cream,
moisturizer, lotion, hair color, foundation, serums, face masks,
antiperspirant, and eyeliner, to name a few, contributes to the market
growth enormously. A rise in the awareness about hair care and skin care
and an increase in disposable income is expected to augment the demand for
cosmetics and personal care products.
- Europe
is growing at a CAGR of 12.1% in the forecast period. Netherland and
France have some of the valuable players in this region. Europe is also
expected to retain a significant position in the market.
- North
America is forecasted to witness significant growth in the overall market
due to its increasing demand for the paints & coatings, cosmetic &
personal care, and fabric products, having grown at a CAGR of 14.0% during
the forecast period. US possesses the highest market share in this region
and some of the vital players of the market.
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For the purpose of this report, Reports and Data have
segmented the global Bio-based 1,3-Propanediol Market on the basis of the
application, sales channel, production, end-use verticals and region:
Application Outlook (Revenue: USD Million;
Volume: Kilo Tons; 2016-2027)
- Process
Solvent
- Chemical
Intermediate
- Antifreezing
& De-icing Agent
- Adhesive
& Laminates
- Tonner
& Coating
- Others
Sales Channel Outlook (Revenue: USD
Million; Volume: Kilo Tons; 2016-2027)
- Online
Retailing
- Offline
Retailing
Production Outlook (Revenue: USD Million;
Volume: Kilo Tons; 2016-2027)
- Conventional
Process
- Bioprocess
End-Use Verticals Outlook (Revenue: USD
Million; Volume: Kilo Tons; 2016-2027)
- PTT
Manufacturing
- Personal
Care & Cosmetics
- Construction
Material
- Industrial
Manufacturing
- Others
Regional Outlook (Revenue: USD Million;
Volume: Kilo Tons; 2016-2027)
- North
America
- Europe
- Asia
Pacific
- MEA
- Latin
America
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