According to study, “World
1,3-Propanediol (PDO) Market Research Report 2024(covering USA, EU,
China, South East Asia, Japan and etc)” the key companies operating in the
world 1,3-propanediol (PDO) market are DuPont Tate & Lyle Bio Products
Company LLC, Royal Dutch Shell, Zhangjiagang Glory Biomaterial Co. Ltd., Metabolic-Explorer
SA, Salicylates And Chemicals Pvt. Ltd., ShangdongMingxing, Shanghai Demao, Haihang
Industry Company Ltd., Chongqing Kunlun Chemical Co., Ltd., Hunan Rivers
Bioengineering Co., Ltd., Tokyo Chemical Industry Co., Ltd., Henan Tianguan,
Chenneng, DOW.Key vendors are introducing products witha high storage capacity definitely
for applications that need to store huge amounts of data for instancedrones, action
cameras, and video surveillance systems. The trend of taking
high-definition pictures & video and implementation of automation
technologies across many sectors are driving the need for high-capacity
1,3-Propanediol.
1, 3-propanediol is a colorless liquid which issoluble
in water. It is produced either by hydration of acrolein or by hydroformylation
of ethylene oxide. It is also produced by renewable sources for instance
biodiesel and corn. Glycerol is a major raw material for manufacturing of 1,3
PDO, which is produced as a by-product during biodiesel manufacturing. It
imparts unique features such as superior starching toPolytrimethylene
terephthalate (PTT) and elastic recovery. It is mainly used as a feedstock in
the production of several chemicals & materials. It is also used in the
formulation of variety of products such as laminates, adhesives, coatings and
moldings.
Based on grade type, 1,3-propanediol (PDO) market is
segmented into pharmaceutical grade, technical grade and others. Based on
method type, market is segmented into traditional methods and bio-based
methods. Traditional methods are expensive, cumbersome and have a higher
environmental impact while bio-based methods have some advantages such as lower
cost, product biodegradability, low environmental impact, less energy used and
non-toxic process. In addition, based on application, market is segmented into PTT,
personal care & cleaning products, cosmetics, Polyurethane (PU) and others
(engine coolants, heat transfer fluid and de-icing fluid). PTT segment holds
major share owing to its long-lasting, fade resistance, good stretch &
recovery, quick-drying, and wrinkle resistance properties.
The 1,3-propanediol (PDO) market is driven by rise
in use in resin application, followed by high demand for environment-friendly
&bio-based products, rise in production of biodiesel,increase in PU
penetration across various end-use industries, growth in environmental
regulations,rise in polyester applications across diverse industries, surge in
demand for cosmetics & personal care or household care products, growth in
innovative technologies, rise in investment in the development of retail sector
and growth in demand for PTT. However, availability of substitutes with
comparatively lower cost and lack of awareness about the benefits of
1,3-propanediol in industrial application may impact the market. Moreover, new
applications areas of PDO and high growth potential in emerging economies are
key opportunities for market.
Based on geography, USA country holds major share in
1,3-propanediol (PDO) market owing to favorable regulatory scenario in the
country. China country is expected to witness higher growth rate due to
increase in construction spending, growth in automotive industry and low raw
material prices & cheap labor over the forecast period. The market is
anticipated to reach US $870 million by 2024, at a CAGR of 12.2% from US $490
million in 2019.
For more information on the research
report, refer to below link:
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