Global 1,3-Propanediol (PDO) Market 2018-2022
About 1,3-Propanediol (PDO)
1,3 propanediol is an organic compound. It is mainly used in the production of polymers. It is used in several applications such as manufacturing PTT, polyurethane, personal care products, and detergents.
Technavio’s analysts forecast the global 1,3-propanediol (PDO) market to grow at a CAGR of 10.80% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global 1,3-propanediol (PDO) market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global 1,3-Propanediol (PDO) Market 2018-2022
Technavio recognizes the following companies as the key players in the global 1,3-propanediol (PDO) market: DuPont Tate & Lyle Bio Products, Metabolic Explorer, TCI Chemicals, and Zhangjiagang Glory Biomaterial.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing biodiesel production. The PDO is produced using glycerol, which is produced during the manufacturing process of biodiesel. Therefore, increasing biodiesel production is anticipated to fuel the global PDO market growth. Manufacturers are shifting toward bio-based production process of PDO from the conventional production process.”
According to the report, one driver in the market is growing polyester applications across various industries. Increasing use of polyester in various industries is fueling the market demand for PDO. The global demand for polyester is anticipated to increase during the forecast period owing to its versatile physical properties. Polyester is the most used and preferred in the textile industry because of its versatility, low price, and recyclability.
Further, the report states that one challenge in the market is lack of awareness of environment-friendly products. With the growing concerns of protecting the environment, consumers need to be aware of environment-friendly products and their consumption. The goal of using bio-based PDO, which is manufactured from renewable resources as raw material feedstocks, is to reduce the demand for non-renewable fossil fuel and lower the production of carbon dioxide (greenhouse gas). This would help to overcome the problems of global warming.
DuPont Tate & Lyle Bio Products, Metabolic Explorer, TCI Chemicals, and Zhangjiagang Glory Biomaterial.