The Global 1,3 Propanediol
(PDO) Market is expected to reach USD 776.3 million by 2022, according to a new
study by Grand View Research, Inc. Growing polytrimethylene terephthalate (PTT)
and polyurethane consumption across various end-use industries is expected to
drive the global PDO market. Growth of personal care industry particularly in
emerging markets of Asia Pacific and Latin America is also expected to have a
positive influence on the market growth. Growing environmental concerns and
mandates are likely to assist the growth of bio-based 1,3 PDO market over the
forecast period. Favorable regulations and government policies encouraging
biodiesel production is presumed to further augment the market growth. Low
white space availability on account of multiple proprietary methods developed
by the market participants is anticipated to ward off new entrants and may slow
down market development.
In depth research report on 1,3 Propanediol (PDO) Market
Further key findings from the study suggest:
•
Global 1,3 propanediol market
demand was 146 kilo tons in 2014 and is expected to reach 225.9 kilo tons by
2022, growing at a CAGR of 5.8% from 2015 to 2022.
•
PTT emerged as the leading application
segment and accounted for 71.8% of total market volume in 2014. Industry shift towards replacing conventional
polyesters by PTT is expected to remain a key driving factor for this segment
over the forecast period. Polyurethane is expected to be one of the fastest
growing application segment at a CAGR of 5.9% from 2015 to 2022. Increasing PU
penetration across automotive and construction industries is expected to drive
the global market.
•
North America emerged as a
clear leader in the global PDO market and accounted for 74.0% of total market
volume in 2014. Favorable regulatory scenario particularly in the U.S. to
promote bio-based chemicals is expected to drive the regional market. North
America is expected to maintain its lead position in the global market over the
forecast period.
•
Asia Pacific is expected to
witness the highest growth rate of 6.2% from 2015 to 2022. Growth of regional
automotive industry coupled with increasing construction spending is expected
to drive the regional market over the next seven years.
•
Major industry participants
have been taking initiatives to develop bio-based 1,3 PDO with superior
properties. Companies are constantly involved in mergers & acquisitions or
forging partnerships with those who possess R&D capabilities and have
access to raw materials. Key industry participants include DuPont Tate &
Lyle Bio Products, Metabolic Explorer, Zhangjiagang Glory Biomaterial Co. Ltd.,
Zouping Mingxing Chemical Co. Ltd and Shenghong Group.
For the purpose of this study,
Grand View Research has segmented the 1,3 PDO market on the basis of
application and region:
Global 1, 3 Propanediol (PDO) Application Outlook (Volume,
Kilo Tons; Revenue, USD Million, 2015 - 2022)
•
Polytrimethylene Terephthalate
(PTT)
•
Polyurethane (PU)
•
Personal Care & Detergents
•
Others
Global 1,3Propanediol (PDO) Regional Outlook (Volume Kilo
Tons; Revenue, USD Million, 2015 - 2022)
•
North America
•
Europe
•
Asia Pacific
•
Central & South America
•
Middle East and Africa
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About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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