Global Propanediol Market Forecast, Trend Analysis & Competition Tracking - Market Insights: 2015 - 2031
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28384
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May 2023
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151
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This report was compiled by Correspondence Linkedin | Detailed Market research Methodology Our methodology involves a mix of primary research, including interviews with leading mental health experts, and secondary research from reputable medical journals and databases. View Detailed Methodology Page
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Global Propanediol Market Introduction:
The global Propanediol market is valued at US$ 448.1 Mn in 2021 and projected to reach a value of US$ 780.0 Mn by 2031, registering a CAGR of over 5% over the forecast period.
Propanediol is a colorless, saturated organic compound with corrosive nature and a distinctive odor. It is marketed under various brand names including Antariksha, Aqua-propanediol, and Pana-dry. It was first synthesized in 1958 and has been used in fumigants and aerosol propellants.
It is one of the most widely used diols in the world. Textiles, cosmetics, and pharmaceuticals are just some industries that largely rely on propanediol for their end-products. The diol can be an ingredient in consumer goods such as mouthwash and toothpaste, providing flavor and functionality to those products.
A type of polyol, propanediol is an organic compound consisting of the elements carbon, hydrogen, and oxygen. It can be created both naturally by plants and synthetically by man. It has many applications in the modern world including as a food additive, solvent, paint thinner, liquid fuel, or plasticizer. As a food additive propanediol is often used to replace sugar for those on low-carb diets due to its sweetness without adding any additional calories.
Propanediol is a substance found naturally in the human body but can also be synthetically produced. When ingested propanediol, it enters the cell membranes and changes their permeability. Propanediol has been shown to have many health benefits for people with certain metabolic diseases or conditions characterized by insulin resistance. This substance can be found in many products because it is used as a solvent or to help stabilize other ingredients. It is also used as an ingredient in personal care products such as hair conditioners, cleansers, lotions, sunscreens, and lip balms.
Propanediol Market Dynamics:
The use of organic chemicals in the chemical industry is expected to be higher than ever before. The World's Health Organization (WHO) has recently released a report on global consumption of chemicals. They noted that demand for more environmentally friendly, low-toxicity products will only continue to grow. The WHO report specifically mentioned propanediol used in plastics manufacturing, cosmetics, and pharmaceuticals. This chemical is relatively safe and biodegradable.
Propanediol is one of these organic chemicals that are becoming more popular with the latest scientific developments. It is a four-carbon alcohol used as an intermediate in producing other chemical substances such as glycerin and ethylene oxide.
The cosmetics industry is a multi-billion-dollar industry that continues to grow each year. Consumers are constantly looking for new ways to improve their beauty and there is no shortage of products to choose from. With the expanding lifestyle choices, consumers are more aware than ever about the chemicals in the products they use. Propanediol is an ingredient in cosmetics that is gaining popularity rapidly due to its safe chemical composition and renewable resource profile.
Propanediol is a promising molecule which has the potential to be a major ingredient in the cosmetics and personal care industry. It is a biodegradable ingredient which is derived from plants and can be used effectively as a moisturizer and emollient, as well as an anti-aging agent. FabricNano – a London-based cell-free bio-manufacturing company has raised US$ 12.5 Mn to scale-up its cell-free biomanufacturing. FabricNano’s system makes it cheaper to manufacture some chemicals, such as one called Propanediol. Currently, Propanediol can be biomanufactured and turned into biodegradable plastic, but not at a price that is competitive with the petroleum-based single-use plastics. For instance, DuPont produces a biodegradable nylon, called Biomax PTT, that is made from biomanufactured Propanediol, however, it costs about US$3 per kilogram.
Global and Regional Analysis:
The global market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. Markets in the Asia-Pacific are expected to account for the largest share owing to the region being a chemicals manufacturing hub. Markets in the Asia Pacific region are anticipated to grow fastest for the global Propanediol market over the next decade due to the increasing demand for adhesives, textiles, personal care products, and other end-use products.
COVID-19 Impact Analysis:
Since the outbreak of COVID-19, many countries worldwide haven't been able to escape. The COVID-19 pandemic has created a difficult environment for the chemicals industry. Some companies, such as Dupont, have been forced to close production sites due to the high numbers of infected patients and chemists. Propanediol, a critical chemical used in most plastics, is now in short supply since it is also required to manufacture Tamiflu. Companies are consolidating supply chains and stockpiling important chemicals to maintain production levels. Some companies are trying to take advantage of this by raising their prices, but the vast majority are lowering their prices to make sure they are able to keep up with demand. This is often done at great expense. Propanediol is one of the chemicals that are being hit hard by the COVID-19 pandemic. Propanediols, or PDOs, are major chemical industry products and serve as precursors for other important materials such as polyester. In addition to being costly to produce, they are also unstable in COVID-19 contaminated environments.
Competitive Landscape
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Shell Chemicals LP
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DuPont
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Metabolic Explorer
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Zhangjiagang Glory Biomaterial Co. Ltd.
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Zouping Mingxing Chemical Co., Ltd.
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Merck KGgA
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Sheng Hong Group Holdings Ltd.
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Tokyo Chemical
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Yangzhou Hopechem Co., Ltd
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Shanghai Aladdin Bio-Chem Technology Co., Ltd.
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Zhejiang Invertin Biotechnology Co., Ltd.
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Other key players
Report Scope
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Forecast Period: 2022-2031
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Actual Year: 2021
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Historical Data Available for: 2015-2020
Key Regions Covered
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North America
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US
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Canada
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Europe
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Germany
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UK
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France
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Italy
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Spain
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Russia
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Rest of Europe
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Asia Pacific
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China
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Japan
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South Korea
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India
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Rest of Asia Pacific
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Latin America
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Brazil
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Mexico
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Rest of Latin America
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Middle East & Africa
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GCC
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South Africa
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Israel
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Rest of MEA
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Key Segments Covered in Global Propanediol Market by Application
- Polytrimethylene terephthalate (PTT)
- Polyurethane
- Adhesives
- Paints & Coatings
- Personal care & detergents
- Electrical & electronics
- Other Applications
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn -
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DuPont
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Metabolic Explorer
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Zhangjiagang Glory Biomaterial Co. Ltd.
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Zouping Mingxing Chemical Co., Ltd.
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Merck KGgA
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Sheng Hong Group Holdings Ltd.
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Tokyo Chemical
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Yangzhou Hopechem Co., Ltd
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Shanghai Aladdin Bio-Chem Technology Co., Ltd.
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Zhejiang Invertin Biotechnology Co., Ltd.
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Other key players