Global 1,3 Propanediol Market Will Grow At Highest Pace Owing To Increasing Demand From Cosmetics In

Author : Ashwini cmi | Published On : 04 Apr 2024

Global 1,3 Propanediol Market is primarily used in cosmetic products, including skincare and personal care products, owing to its unique properties that help produce light, softened textures and minimize skin irritation potential. It is widely used in manufacturing lotions, moisturizers, creams, hair conditioners and other cosmetic products. 1,3 Propanediol helps to hydrate skin by increasing skin water levels while also being gentle enough for sensitive skin. The market is driven by the growing demand for natural and sustainable ingredients in cosmetic formulations. An increase in per capita spending on skin and hair care products is also boosting consumption.

 The Global 1,3 Propanediol Market is estimated to be valued at US$ 424.5 MN in 2024 and is expected to exhibit a CAGR of 9.1% over the forecast period 2024 to 2031.

Key Takeaways
Key players operating in the Global 1,3 Propanediol Market include Tokyo Chemical Industry Co., Ltd., Shenghong Group Holdings, Primient, Haihang Industry, DuPont, Metabolic Explorer, Zhangjiagang Glory Biomaterial Co., Ltd., Zouping Mingxing Chemical Co., Ltd., Shell Chemicals LP, and Merck KGaA. These companies are focusing on expanding their production capacities and strengthening global distribution networks to cater to the growing demand.

The demand for 1,3 Propanediol is anticipated to increase significantly over the forecast period, driven majorly by its growing application in personal care and cosmetic products. Skin and hair care formulations infused with Global 1,3 Propanediol Market Size are gaining immense popularity owing to attributes like moisturizing and anti-aging properties. Additionally, continuous expansion of cosmetic industry is further expected to support market growth over the coming years.

Ongoing advancements in fermentation and biotechnology have paved way for cost-effective production of 1,3 Propanediol from renewable resources like sugarcane and corn. This has promoted the replacement of toxic petrochemical-based glycols with bio-based 1,3 Propanediol in various end-use industries. As consumers are shifting towards sustainable options, increasing penetration of bio-1,3 Propanediol is poised to shape new market trends.

Market Trends
Growing Use in Personal Hygiene Products: Manufacturers are exploring new application areas of 1,3 Propanediol in personal hygiene products like toothpastes, mouthwashes, as it prevents dental cavities and aids oral care. Its moisturizing properties further improve efficacy of such products.

Emphasis on Sustainable Raw Materials: Major players are strategizing technological partnerships and investments to boost capacities of bio-based 1,3 Propanediol utilizing plant-based feedstock. This is driven by globally rising "eco-friendly" trends and stringent regulations against petrochemicals.

Market Opportunities
Rising Demand from Asia Pacific: Emerging economies like India and China exhibit exponential growth potential led by enormous youth populace, rapid urbanization and expanding middle class. Increasing affluence has augmented expenditures on personal and skin care in the region.

Expanded Product Portfolio: 1,3 Propanediol producers can capitalize on opportunities by developing product variants like low viscosity grades for specific industrial uses such as coatings, flavors & fragrances as per customer demands.

The aforementioned insights cover key parameters like market overview, key takeaways consisting of key players analysis, demand drivers, technological advancements in the given 1,3 Propanediol market and market trends covering growth areas and opportunities as per the instructions.

Impact of COVID-19 on Global 1,3 Propanediol Market growth:
The COVID-19 pandemic severely affected the global 1,3-Propanediol market growth in 2020. The lockdowns imposed across countries led to closure of manufacturing facilities, disruptions in supply chain and decline in overall demand. This caused a steep decline in market value during the year. Some of the major challenges faced by market players included shortage of raw materials, labour issues and disruption in transportation. However, with lifting of restrictions and resumption of economic activities from mid-2021, the market started recovering. The demand from end use industries like polytrimethylene terephthalate and personal care products gradually picked up pace. Rising health awareness also boosted demand from disinfectants segment during the pandemic times. Going forward, stable demand from end use industries and focus on green chemicals may help the market regain pre-COVID levels by 2023-2024. The companies will need to focus on strengthening supply chain and distribution network while keeping costs competitive to sustain growth in the long run.

Geographical regions with high concentration of Global 1,3 Propanediol Market value:
Asia Pacific region accounts for the highest market share in terms of value contributed to the global 1,3-Propanediol market. This is majorly due to presence of emerging economies like China and India which are the leading producers and consumers of 1,3-Propanediol. China dominates the APAC market with presence of major manufacturing facilities of key players. North America is another major region due to high demand from polytrimethylene terephthalate and personal care industry in countries like United States. Europe contributes significantly owing to developed end use industries and stringent environmental regulations favoring bio-based chemicals. Going forward, Asia Pacific is expected to remain the most lucrative region owing to rapid industrialisation and economic growth.

Fastest growing region for Global 1,3 Propanediol Market:
Currently, Asia Pacific region is growing at the fastest pace for the global 1,3-Propanediol market value owing to rising industrial activities, population and economic growth in emerging countries. China and India account for bulk of the regional demand and are expanding production capacities to gain leadership. India especially is emerging as a promising market due to government initiatives for development of bio-based chemicals industry. The region demonstrates high potential for further penetration of 1,3-Propanediol in packaging, fibers, automotive and other applications. If supportive policies are in place, Asia Pacific is likely to outpace other regions interms of incremental growth opportunities during the forecast period.

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