(PRWEB) March 15, 2013
According to a new market research report, “1,3-Propanediol (PDO) Market By Applications (PTT [Polytrimethylene Terephthalate], Polyurethane, Cosmetic, Personal Care and Home Cleaning and other Applications) by Geography - Global Market Trends and Forecasts to 2019,” published by MarketsandMarkets, the market will grow from an estimated $157 million in 2012 to $560 million in 2019 with a compound annual growth rate of 19.9% during the period of 2012 to 2019.
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Major application area of 1,3-propanediol include polytrimethylene terephthalate (PTT) manufacturing which is used for carpets and some industrial textile applications due to its excellent properties.
With increase in the 1,3-PDO production, Polytrimethylene Terephthalate production will also rise. Many of the 1,3-PDO producers will go for upward integration and start producing Polytrimethylene Terephthalate by themselves.
In terms of geographical markets, America's region is the largest market followed by Asia-Pacific and then Europe, Middle East & Africa (EMEA). Europe is the largest market for cosmetics, personal care, and home cleaning products and is experiencing the high growth rate. Demand of nature-based (bio-based) ingredients will drive the growth of 1,3-PDO market in Europe.
MarketsandMarkets is a global market research and consulting company based in the U.S. We publish strategically analyzed market research reports and serve as a business intelligence partner to Fortune 500 companies across the world.
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