According to the latest market analysis on propanediol by Fact.MR, a market research and competitive intelligence provider, the global market is projected to be valued at US$ 20.6 Mn in 2022, and expand at a CAGR of around 3.5% over the period of 2022-2032. Market growth can be mainly attributed to growing demand for propanediol as a humectant from the personal care industry.
The propanediol business is highly consolidated owing to the presence of a few producers solely involved in the production of this chemical. Propanediol has gained substantial traction in the beauty and personal care industry, which has been identified as a key source for revenue generation. Moreover, propanediol producers are opting for product development, innovation, and R&D to gain an upper edge in the market.
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Key Takeaways from Market Study
- Petrochemical-based propanediol projected to provide absolute $ opportunity worth US$ 1.6 million over the decade.
- Based on function, propanediol as a humetant is projected to increase at a higher CAGR of around 3.8% over the forecast period.
- On the basis of distribution, propanediol consumption for personal care is anticipated to expand around 1.4X by 2032.
- East Asia projected to capture around 23% of global propanediol market share by 2032.
- North America to provide absolute $ opportunity worth US$ 1.9 Mn by 2032-end.
“Personal care industry identified as prominent consumer of propanediol. Consumption mainly been driven by ageing population as need for moisturizers containing humectant rises,” says a Fact.MR analyst.
What’s Driving the Global Market for Propanediol?
“Consumer Preference for Bio-based Chemicals Driving use of Propanediol in Skin Care Products”
Propanediol is majorly derived from corn sugar or corn glucose. Since the chemical is water miscible, it has the ability to create a consistent and uniform solution. Additionally, propanediol reacts gently with the skin and is non-allergic, thus acting as a replacement for propylene glycol or 1,2 – propanediol.
Propanediol’s gentle skin attributes is mainly due to its naturally occurring sources. Since the chemical is naturally derived, its bio-based propanediol demand has seen a surge owing to change in consumer preference from synthetic-based products to plant-based products.
Attributed to the above-discussed factors, propanediol revenue is projected to be valued at US$ 29 Mn by 2032-end.
Country Wise Analysis
Why is the U.S. a Prominent Market for Propanediol Sales?
“High Demand for Naturally Derived Cosmetic Products Driving PDO Consumption”
The U.S. is already leading the market as one of the largest consumers for paraben-free products. Consequently, there has been consistent rise in the sales of beauty products that contain naturally derived substances.
Additionally, proliferation of e-Commerce and online sales channels has provided a platform to local manufacturers of bio-based propanediol in the business of personal care products to create increased revenue. More local beauty brands can be seen selling their products with clean labels, thus targeting key consumers in the country.
Surge in sales of naturally derived cosmetic products in the U.S. has provided a thrust to the demand for PDO, which is why the U.S. has emerged as a leading market for this chemical.
Overall, the U.S. is poised to provide an absolute dollar opportunity worth US$ 1.8 Mn over the period of 2022-2023.
Category Wise Analysis
Which Function of Propanediol is Projected to Hold Major Market Share?
“Propanediol Function as Humectant Projected to Account for Major Share”
Propanediol has been identified as the perfect substance that can retain and attract moisture from the atmosphere via absorption. The chemical’s water absorbing capacity is high when compared to others.
With age, the body tends to lose the moisturizing factor from the skin. Hence, application of moisturizers that contain humectants has been a rising trend among the ageing population. Moreover, products containing humectants, such as propanediol, have seen substantial surge in demand, and will drive the market at a CAGR of 3.5% through 2032.
Application of propanediol as a humectant is poised to provide an absolute dollar opportunity worth US$ 3.5 Mn over the next ten years.
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Competition Landscape
DuPont Tate & Lyle Bio Products, DSM & Metabolic Explorer, Haihang Industry, and Zhangjiagang Glory Chemical Industry Co. Ltd are some of the prominent manufacturers of propanediol.
Market players can be seen investing in innovation and R&D. Additionally, major players in the business, over the past half-decade, have paced up production capacities, thus helping them garner high segmental revenue share in the market.
Fact.MR has provided detailed information about the price points of top manufacturers of PDO positioned across regions, in addition to providing sales growth information, production capacity, and speculative production expansion, in its recently published report.
Key Segments Covered in Propanediol Industry Survey
· By Source:
-
- Petrochemical-derived PDO
- Bio-based PDO
- Palm Oil Based PDO
- Palm Oil Free PDO
· By Function:
-
- Humectants
- Solvents
- Emollients
- Rheology Modifiers
- Others
· By Application:
-
- Propanediol for Personal Care
- Facecare Products
- Moisturizers
- Serum
- Masks
- Antiperspirants
- Hair Care Products
- Hair Color
- Shampoo
- Conditioners
- Others
- Facecare Products
- Propanediol for Cosmetics
- Eyeliner
- Foundation
- Others
- Propanediol for Personal Care
· By Region:
-
- North America Propanediol Market
- Latin America Propanediol Market
- Europe Propanediol Market
- East Asia Propanediol Market
- South Asia & Oceania Propanediol Market
- Middle East & Africa Propanediol Market
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