1,3-Propanediol Market – Overview —
The growing demand for 1, 3-propanediol from various applications is expected to drive the growth of the market during the review period. The major applications of 1, 3-propanediol are polytrimethylene terephthalate, polyurethane, cosmetics & personal care, household, engine coolants among others. The growing development of cosmetic & personal care industry across the globe is expected to boost the market during the forecast years. Moreover, the growing investment in research and development activities for the production of bio-based 1,3 propanediol is anticipated to be a major opportunity in the market.
The factors attributed to the 1,3-Propanediol market growth are continuous growth of personal care in emerging economies, rising automotive production and sales, and high adoption rate in various end use application. Furthermore, expanding population along with burgeoning demand for good quality cosmetics has raised the consumption of 1,3-Propanediol based personal care products which in turn is estimated to fuel the growth of the market over the forecast period.
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Zouping Mingxing Chemical Co., Ltd, Royal Dutch Shell, Shanghai Jinjinle Industry Co., Ltd, DuPont Tate & Lyle Bio Products Company, LLC, Metabolic Explorer SA, Zhangjiagang Glory Biomaterial Co. Ltd, Zouping Mingxing Chemical Co.,Ltd, Salicylates And Chemicals Pvt. Ltd, and Chongqing Kunlun Chemical Co., Ltd among others are the prominent market players at the forefront of competition in the Global 1,3-Propanediol Market and are profiled in MRFR Analysis.
Geographically, North America is estimated to hold the largest 1,3-Propanediol market share in 2016 which is followed by Asia Pacific and further trailed by Europe. North American the 1,3-Propanediol market is estimated to exhibit moderate growth over the assessment period owing to rising awareness regarding the benefits associated with product coupled with raised consumption in end use application in this region. Asia Pacific is projected to witness significant growth over the forecast period in 1,3-Propanediol market on account of rising application of 1,3-Propanediol in various end use application segment.
In Asia Pacific, the demand for 1,3-Propanediol is predicted to enhance in various countries such as Indonesia, the Philippines, Taiwan, India, Japan, South Korea, and China due to growing population coupled with shifting of manufacturing units for most of the major operating players in this region. In Europe, 1,3-Propanediol market is estimated to register average growth due to shifting consumer preference towards the 1,3-Propanediol combined with high adoption rate in household, cosmetics & personal care, engine coolants specifically in Poland, Spain, UK, France, Italy, Belgium, Germany, and Russia.
Industry/ Innovation/ Related News:
March 2018- DuPont Tate & Lyle Bio Products, LLC, announced to expand their bio-based propanediol manufacturing at their London, Tennessee. The company will expand their capacity to raise by 35 million pounds. This capacity expansion will help company to strengthen their position among the biobased propanediol manufacturers.
July 2016- Glory Biomaterial and Connect Chemicals GmbH signed an agreement in which Connect Chemicals will distribute Glory’s bio based propanediol in Canada and Europe. This distribution agreement will help Glory Company to expand their regional reach.
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The 1,3-Propanediol report has analysed the degree of competition among the major manufacturers in 1,3-Propanediol market as well as industry growth and market scenario. The global 1,3-Propanediol market comprises of broad range of producers operating in the market which involves medium level and large scale suppliers. Key operating manufacturers of 1,3-Propanediol which has strong hold in the market have shifted their focus towards growth association specifically by Asia Pacific as moderate level and high level suppliers belongs to this province specifically from Japan, Australia, China, South Korea, the Philippines, Malaysia, Taiwan, India, and Thailand. In addition, the major manufacturers players of 1,3-Propanediol are observed to follow various strategic plans to enhance their product portfolio such as product launches, strategic acquisition, distribution agreements, joint ventures, and mergers, and exclusive agreements. Some of the major manufacturers in this market are estimated to improve their production capacity of 1,3-Propanediol to meet the rising demand for 1,3-Propanediol across the globe.
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