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Propanol Market to Worth 4.2 Billion USD by 2023

The report "Propanol Market by Type (N-Propanol, Isopropanol), Application (Direct Solvent, Chemical Intermediate, Pharmaceutical, Household & Personal Care), and Region (North America, APAC, Europe, Middle East & Africa, and South America) - Global Forecast to 2023" The propanol market is projected to grow from USD 3.5 billion in 2018 to USD 4.2 billion by 2023, at a CAGR of 4.0% during the forecast period. This growth is attributed to the increasing paints & coatings consumption owing to the expansion of the construction and automotive industries in the developing economies, globally.  Also, the increasing consumption of pharmaceuticals owing to the growth of the healthcare industry is expected to boost the demand for propanol.

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Browse 97 market data Tables and 51 Figures spread through 139 Pages and in-depth TOC on "Propanol Market”

Premium Insights of the report:
  • Propanol Market Segments
  • Propanol Market Dynamics
  • Isopropanol Market Global Outlook
  • Isopropanol Market Applications
  • N-Propanol Market Applications
  •  Major Players In Isopropanol Market
Increasing demand for direct solvent application is expected to drive the propanol demand

In the propanol market, the increasing direct solvent application of isopropanol and n-propanol is expected to drive the overall demand. Isopropanol and n-propanol are used as a direct solvent in diverse applications, such as paints & coatings, cosmetics, flexographic inks, chemical processing, and food processing, in the construction, automotive, beauty care, and FMCG end-use industries. All these industries are expected to register high growth in developing countries during the forecast period owing to increasing R&D spending on new product development, developing economy, favorable trade policies & conditions, and growing middle-class population.

N-propanol is the fastest-growing type segment of the propanol market during the forecast period

N-propanol is projected to be the fastest-growing type segment of the propanol market during the forecast period. Its low toxicity as compared to isopropanol and the new law regarding usage of low VOC emitting chemicals are the major factors driving the n-propanol demand. Also, the increasing consumption of n-propyl acetate in the beauty & fragrance and pharmaceutical industries is fueling the global n-propanol demand. N-propanol is used as a chemical intermediate in the formulation of n-propyl acetate. All these factors together are expected to increase the consumption of n-propanol in various applications, thus boosting the global propanol market during the forecast period.

https://www.marketsandmarkets.com/PressReleases/isopropyl-alcohol-and-n-propanol.asp

Drivers & Opportunities in global industry:
  • Progressive End-User Industry In China
  •  Vacuum Between Demand Growth & Supply To Pharmaceutical Industry

APAC to be the largest propanol market during the forecast period

 APAC is projected to be the largest propanol market during the forecast period. The growing investment in capacity expansion of the automotive and healthcare industries, along with increasing infrastructure development, growing household & personal care products market due to the favorable rules & regulations, and economic development of the region are driving the market. Additionally, the growth in demand for new and improved pharmaceutical drugs to cater to the critical medical conditions have boosted the need for domestic pharmaceutical manufacturing, which is expected to boost the demand for propanol.

 Royal Dutch Shell Plc (Netherlands), Exxon Mobil Corporation (US), BASF SE (Germany), The Dow Chemical Company (US), LG Chem Ltd. (South Korea), Sasol Limited (South Africa), Eastman Chemical Company (US), Tokuyama Corporation (Japan), LCY Chemical Corp. (Taiwan), JXTG Holdings, Inc. (Japan), Deepak Fertilisers and Petrochemicals Corporation Ltd. (India), and OXEA GmbH (Germany) are the leading players operating in the propanol market.

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Comments

  1. The information that you have shared is really useful for everyone. If someone wants to know about EHS Software and Occupational Safety Software I think this is the right place for you.

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  2. During the second quarter, the North American region observed an exceptional demand for n-Propanol price buoyed by seasonal pickup in demand from the paints and coating industries. Producers ramped up run rates to fulfil the n-Propanol enquiries which were piled up due to tightened market scenario since Q1. The supply demand imbalance resulted in surge in regional n-Propanol offers during Q2. Sasol announced positive price correction in n-Propanol rates by USD 567 per tonne effective from 1st June. Supply outlook in the North American market improved by June as the industrial activities in the Gulf coast restored from the devastating impact from the winter storm Uri. Although due to the uncertainty of the upcoming hurricane season, the buyers were booking for large orders to replenish the inventories levels. N-Propanol CFR Texas price was assessed at USD 2310 per tonne in June.

    https://www.chemanalyst.com/Pricing-data/n-propanol-1182

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