Albany, NY -- (ReleaseWire) -- 06/05/2014 -- According to a new market report published by Transparency Market Research "1, 3-Propanediol (PDO) Market For Polytrimethylene Terephthalate (PTT), Polyurethane, Personal Care & Detergents and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019," the global 1, 3-Propanediol market was valued at USD 235.9 million in 2012 and is expected to reach USD 683.2 million by 2019, growing at a CAGR of 16.6% from 2013 to 2019.
Growing demand for polytrimethylene terephthalate (PTT) from end-use industries and increasing consumer preference for bio based chemicals is expected to drive 1, 3-propanediol (PDO) market. However, the use of highly patent protected technology along with the concern for constant supply of renewable feedstock is expected to inhibit market growth during the forecast period. The growing potential of PDO to substitute propylene glycol in personal care applications and 1, 4-butanediol in polyurethane application will play a crucial role in augmenting PDO market in the coming years.
Browse Global 1, 3-Propanediol Market Report with Full TOC at http://www.transparencymarketresearch.com/propanediol-market.html
Polytrimethylene terephthalate (PTT) was the largest consumer of PDO and accounted for nearly 81.2% of the total market in 2012. In addition, it is expected to be the fastest growing application with an estimated CAGR of 16.3% from 2013 to 2019. Polyurethane was the second largest consumer of PDO and is expected to grow at a CAGR of 15.2% from 2013 to 2019. PDO also find application in personal care and detergents. The market of PDO in personal care & detergents application was valued at USD 25.9 million in 2012.
North America emerged as a leading consumer of PDO and accounted for about 74% of the total demand in 2012. Asia Pacific is expected to be the fastest growing market as many Chinese manufacturers are expected to start commercial production of PDO in the coming years. The demand for PDO in Asia pacific is expected to grow at a CAGR of 16.8% from 2013 to 2019. The Rest of the World market is expected to be USD 37.2 million by 2019. While the European market was valued at USD 13 million in 2012.
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The global PDO market is highly monopolized as DuPont Tate & Lyle Bio Products captured about 89% of the total market in 2012. With the entry of new players in the market, new technologies for manufacturing PDO from sustainable bio based raw material is expected to be explored.
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This report segments the global 1, 3-propanediol market as follows:
1, 3-Propanediol Market: Application Analysis
- Polytrimethylene terephthalate (PTT)
- Personal care and detergents
- Others (Including engine coolants, deicing fluid, heat transfer fluids, etc.)
1, 3-Propanediol Market: Regional Analysis
- North America
- Asia Pacific
- Rest of the World
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