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1,3-Propanediol Market Size

Report ID: GMI4927
Published Date: Jan 2021
Report Format: PDF

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1,3-Propanediol Market Size

1,3-Propanediol market size was over USD 450 million in 2020 and is estimated to grow over 8.3% CAGR between 2021 and 2027 owing to rising demand for green & sustainable products. Increasing demand for 1,3-propanediol from cosmetics & personal care application will pave way for the growth opportunity in the market.

1,3-Propanediol is a bifunctional organic compound, which can be produced either via petrochemical or bio-based routes. 1,3-propanediol is a building block to produce polymers such as polytrimethylene terephthalate & polyurethane along with the production of paints & coatings, resins and adhesives. It can be chemically synthesized from petrochemicals such as propenal or ethylene oxide. The bio-based route includes fermentation of glycerol or fermentation of sugars. Glycerol is the by-product of biodiesel production.

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Increasing inclination towards sustainable development and green economy across the globe is set to play key role in the 1,3-propanediol market growth during the forecast period. The increasing demand for bio-based products and emphasize on R&D activities is driving the demand for 1,3-propanediol for various application including personal care & cosmetics. The global trend towards the adoption of organic & green cosmetics products is likely to spur the demand for 1,3-propanediol for applications such as, solvent, preservative booster and humectant.

1,3-Propanediol Market Report Attributes
Report Attribute	Details
Base Year:	2020
1,3-Propanediol Market Size in 2020:	451.09 Million (USD)
Forecast Period:	2021 to 2027
Forecast Period 2021 to 2027 CAGR:	8.3%
2027 Value Projection:	794.74 Million (USD)
Historical Data for:	2016 to 2020
No. of Pages:	230
Tables, Charts & Figures:	235
Segments covered:	Source, and Application
Growth Drivers:	North America: Growing demand for advanced bio-based polymers Europe: Growing penetration of bio-based products and Stringent regulations to foster the industry growth Asia Pacific: Increasing Biodiesel production to pave way for Bio-based route
Pitfalls & Challenges:	Availability of substitutes

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In 2020, the global cosmetics market is estimated to be valued over USD 335 billion and is expected witness steady growth during the forecast period. Increasing spending on beauty products, acceleration of urbanization, shifting consumer interest towards innovative and premium products, penetration of e-commerce in the industry, and the growth of upper middle classes. This in turn is set to drive the 1,3 propanediol market share from personal care & cosmetics industry.

Authors: Kunal Ahuja, Tushar Malkani

Frequently Asked Questions (FAQ) :

The global market for 1,3-propanediol had reached USD 450 million during 2020 and is anticipated to expand at over 8.3% CAGR up to 2027.

The market for bio-based 1,3-propanediol was valued at around USD 363.47 million in 2020 and will expand with increased environmental awareness.

The industry share from polyurethane application segment had surpassed USD 80.9 million in 2020 owing to increasing demand for bio-based polyurethane coatings and other products.

The APAC industry for 1,3-propanediol had crossed USD 148.8 million in 2020 and will record around 9.6% CAGR between 2021-2027 with high production of personal care and cosmetic products.