1,3- Propanediol Market Outlook 2030
1,3-Propanediol is a bifunctional organic compound, which can be produced either via petrochemical or bio-based routes. 1,3-Propanediol having a chemical formula CH2(CH2OH)2. 1,3-Propanediol is the three-carbon diol, which is colorless viscous fluid that is soluble in water. 1,3-propanediol is a building block to produce polymers such as polytrimethylene terephthalate & polyurethane along with the manufacturing of paints & coatings, resins, and adhesives. It can be chemically synthesized from petrochemicals such as propenal or ethylene oxide. The bio-based route includes fermentation of glycerol or fermentation of sugars. Glycerol is the by-product of biodiesel production. 1,3-Propanediol does not pose any significant hazard if its inhalation of either the vapor or an aerosol mixture.
COVID-19 Impact analysis
- 1,3 propanediol is majorly used in Polytrimethylene terephthalate (PTT), which is further used in the production of carpet, leisure & sportswear, and other textile usage. COVID-19 has impacted the demand for PTT from end-use applications due to nationwide lockdown and also production operations in the various industry which in turn resulted in the decline in the demand of 1,3-propanediol in the market.
- Moreover, 1,3-propanediol is widely used as an ingredient in personal care and cosmetic industry. With the decline in the consumption of cosmetic products owing to COVID-19 and nationwide lockdown, it has impacted the demand of 1,3 propanediol in the market.
- Due to the COVID-19 outbreak globally, most of the industry where 1,3-propanediol is used as component in manufacturing of various aspects of product is affected due to supply chain disruption.
Top Impacting Factors
A continuous change in customer inclination for bio-based items is seen across the world. The rise in awareness of consumers, increase in stringent government regulations, and depletion of conventional sources have encouraged companies to innovate and market sustainable products. 1,3-propanediol is one such biochemical which is estimated to have popularity. Bio-based propanediol utilizes renewable resources, such as corn sugar and crude glycerin, making it more sustainable. However, 1,3-propanediol is used as a substitute for petroleum-based glycols such as propylene glycol, butylene glycol, and glycerin. These products are available at a comparatively lower price than 1,3-propanediol, which is utilized in cosmetics, personal care & cleaning products, pharmaceutical & dietary supplements, and food & flavor applications. In addition, the surge in demand for 1,3-propanediol as a component in various potential applications drives the growth of the market.
- In March 2021, METabolic Explorer which is a cleantech biochemical company that develops and industrializes competitive and sustainable fermentation processes offering alternatives to petrochemistry for the production and marketing of functional ingredients had an acquisition with Ajinomoti Animal Nutrition Europe.
- In March 2020, METabolic Explorer, a cleantech biochemical company that develops and industrializes competitive and sustainable fermentation processes offering alternatives to petrochemistry for the production and marketing of functional ingredients, announces the signing of an agreement between its subsidiary METEX NOOVISTA and ALINOVA for the marketing in France of the first bio-based butyric acid on the animal nutrition market.
- In May 2019, DuPont Tate and Lyle Bio Products Company, LLC (U.S.), Corbion (the Netherlands), INOLEX Inc. (U.S.), and ACT Solutions Corporation undergoes collaboration to make a bio-based substance plan for personal care products. This organization helped the organization fulfill the developing need for natural products.
- In October 2018, DuPont Tate and Lyle Bio Products Company, LLC (U.S.) opened a stock inventory and distribution center in its manufacturing plant in Loudon, Tennessee, U.S.
- In March 2018, DuPont Tate and Lyle Bio Products Company, LLC (U.S.) declared the plan to expand its production capacity of bio-based 1,3-propanediol by 35 million pounds at its manufacturing plant in Tennessee, U.S.
Key Benefits of the Report
- This study presents the analytical depiction of the 1,3- propanediol industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the 1,3- propanediol market share.
- The current market is quantitatively analyzed to highlight the 1,3- propanediol market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed 1,3- propanediol market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the 1,3- Propanediol Report
- Who are the leading market players active in the 1,3- propanediol market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- Which Government regulations might challenge the status of key regional markets?
- What are the key barriers to enter for the new players in the market?
- What value proposition should businesses aim at while making new research and development funding?
1,3- Propanediol Market Report Highlights
Key Market Players
Cargill, Inc., KLK OLEO, The Dow Chemical Company, The Good Scents Company, Tate & Lyle PLC, Far East Industries Sdn. Bhd., BASF SE, Global Bio-chem Technology Group Company Limited, Solvay, Myriant Corporation