Bio-Based PTT Polymerization Industry Research:the global market size is projected to reach USD 2.33 billion by 2029

Bio-Based PTT Polymerization Market Summary

According to the new market research report “Global Bio-Based PTT Polymerization Market Insights, Forecast to 2029”, published by QYResearch, the global Bio-Based PTT Polymerization market size is projected to reach USD 2.33 billion by 2029, at a CAGR of 24.5% during the forecast period.

• Global Bio-Based PTT Polymerization MarketSize(US$ Million), 2018-2029

Source: QYResearch, “Global Bio-Based PTT Polymerization Market Insights, Forecast to 2029”

Market Drivers:

As a bio based chemical fiber, compared with traditional petroleum based chemical fiber, PTT fiber has the characteristics of environmental friendliness, renewable raw materials and so on, so it has broad development prospects. 1,3-propanediol is an important monomer raw material for the production of PTT. With the drive of downstream PTT fibers, the market demand for 1,3-propanediol will gradually increase.

With the increasing emphasis on environmental protection in various countries around the world, environmentally friendly materials have become a key development direction. In recent years, relevant departments of various countries have successively issued policies to encourage and support the development of bio based 1,3-propanediol.

With the continuous development of the industry, production technology has gradually expanded from the initial DuPont monopoly production to the Tsinghua University team technology production route. The upstream raw materials available for selection are gradually becoming more abundant. The product performance is gradually superior, and the application range is further expanded.

Restraint:

The bio based 1,3-propanediol industry is a technologically competitive industry. In recent years, although some production capacity has been withdrawn due to deep industry adjustments, leading enterprises in the industry have been continuously expanding their production scale. If a company cannot use its own advantages to maintain and improve its existing market position, it will face the risk of a decline in its existing market share.

The cost of glycerol and glucose, the main raw materials of bio based 1,3-propanediol, accounts for a high proportion of the product cost. If the prices of raw materials increase significantly in the future, and the price adjustment of the production enterprise's product market cannot effectively reduce or digest the impact of raw material price fluctuations, it may have adverse effects on its production and sales.

With the introduction of the dual carbon policy, the country's supervision of green and safe production in chemical plants is becoming increasingly strict. Relevant production enterprises need to strictly comply with laws and regulations to invest in environmental protection, establish a series of environmental protection measures, and establish strict production process standards and operating standards. This has to some extent increased production costs.

Opportunity:

Biobased 1,3-propanediol is widely used in PTT, cosmetics, chemicals, pharmaceuticals and other fields due to its excellent performance. PTT is a new type of polyester material with excellent performance and has been rated as one of the six major new chemical products,

Known as the king of polyester, with elasticity second only to spandex, it also has the stability and excellent shape retention characteristics of PET. 1,3-propanediol is the main raw material for biomass fiber PTT. Due to the limited production capacity of 1,3-propanediol, there has always been a significant gap in the supply and demand of PTT. The development of the bio based 1,3-propanediol industry can meet the huge demand gap for PTT.

• Global Bio-Based PTT Polymerization Top4Players Ranking and Market Share（Continually updated）

Source: QYResearch, “Global Bio-Based PTT Polymerization Market Insights, Forecast to 2029”

According to QYResearch Top Players Research Center, the global key manufacturers of Bio-Based PTT Polymerization include Huafeng Group (DuPont), Tsing Da Zhi Xing, etc. In 2022, the global top three players had a share approximately 93.6% in terms of revenue.

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