How is the shift to Nvidia liquid cooling affecting demand for propylene glycol in China?

How is the shift to Nvidia liquid cooling affecting demand for propylene glycol in China?
1,3-Propanediol (PDO) is a separate molecule from conventional propylene glycol (1,2-PG), used primarily to make PTT polyester fiber. China's PDO market was valued at about 1.57 billion yuan in 2022, with roughly 80% of demand feeding PTT production. Historically, domestic PDO relied on imports—DuPont and Shell controlled the technology—keeping PTT plant utilization at only around 40% due to high feedstock costs. That is changing: new domestic capacity is coming online, including Huafon's acquisition of DuPont's bio-based PDO business and Huaheng's 50,000-ton/year plant. Forecasts project the market reaching 2.3 billion yuan by 2028, a 6.9% CAGR, as domestic output replaces imports and PTT capacity utilization rises. However, increased local supply is expected to push PDO prices downward over time.