The Global 1,3 Propanediol Market is driven by increasing demand...

The Global 1,3 Propanediol Market is driven by increasing demand for Polytrimethylene Terephthalate Production

Postado 2024-06-26 13:00:14

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The Global 1,3 Propanediol Market is driven by increasing demand for polytrimethylene terephthalate production and plays an important role as precursor and intermediate in industries. 1,3 Propanediol is an organic compound produced primarily through biological fermentation of glucose, glycerol or sugarcane. It is a colorless, viscous and hygroscopic liquid that is miscible with water and most organic solvents. 1,3 Propanediol finds wide applications as a monomer for polytrimethylene terephthalate production which is used to manufacture carpets and apparels owing to its durable and lightweight properties. It also acts as an emollient and moisturizer in personal care products due to its moist retention ability on skin and hair. Increasing demand from textiles and apparel industry for durable and comfortable fabrics is a major factor supporting growth of polytrimethylene terephthalate and 1,3 Propanediol market.

The Global 1,3 Propanediol Market is estimated to be valued at US$ 799.3 Mn in 2024 and is expected to exhibit a CAGR of 9.5% 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. Tokyo Chemical Industry Co., Ltd. and Haihang Industry are among the prominent manufacturers of 1,3 propanediol globally.

The growing demand for polytrimethylene terephthalate in the textiles and apparels industry coupled with increasing applications in personal care products is a major factor driving growth of 1,3 Propanediol Market Size . Asia Pacific region led by China presently accounts for over 50% of global polytrimethylene terephthalate consumption.

Key players are investing in R&D to expand fermentation production capacities and focusing on geographical expansion especially in Asia Pacific and North America regions to capture growing product demand. Global producers are also opting for strategic partnerships and collaborations with end use industries to ensure steady off-take of 1,3 Propanediol.

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