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Wilmington, Delaware, Nov. 16, 2023 (GLOBE NEWSWIRE) — According to RationalStat’s industry report, the Global 1,3-Propanediol (PDO) Market value is estimated at US$ 431.7 million in 2023 and is expected to rise at a strong CAGR of over 10.7% over the forecast period of 2023-2030.
Market Definition, Market Scope, and Report Overview
PDO is a valuable chemical molecule that is largely utilized as a feedstock in the synthesis of polymers, notably polytrimethylene terephthalate (PTT) and other high-performance plastics. It is a colorless, odorless liquid with qualities that make it a versatile and environmentally benign substitute for standard petrochemical-based glycols.
PDO is biodegradable and environmentally beneficial because it is obtained from renewable sources. As the globe places a greater emphasis on sustainability and environmentally acceptable alternatives, the demand for bio-based compounds such as PDO has increased.
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Global 1,3-Propanediol (PDO) Market: Segmental and Market Share Analysis
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Competition Analysis and Market Structure
Some leading players adopt various strategies to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers and acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global 1,3-Propanediol (PDO) market include.
Some of the prominent players and suppliers operating and contributing significantly to the global 1,3-Propanediol (PDO) market growth include China Petrochemical Corporation, DuPont Tate & Lyle Bio Products, Gantrade Corporation, Haihang Industry, DSM, Tokyo Chemical Industry Co. Ltd, RTP Company, Shell Chemicals LP, Merck KGaA, Metabolic Explorer SA, Zhangjiagang Glory Chemical Industry Co., Ltd, and Metex, among others.
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RationalStat has segmented the global 1,3-Propanediol (PDO) market based on source, application, end user and region
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Key Questions Answered in the 1,3-Propanediol (PDO) Report:
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