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A 7.6% CAGR from 2023 to 2030 is projected for the global propanol market, which was worth $3.78 billion in 2022. This is because it is increasingly being used as a direct solvent in a wide variety of end-use sectors, such as coatings, pigments, dyes, fuel additives, and paint additives. In the pharmaceutical business, it is employed mostly in the creation of disinfectants. Despite sharing a chemical structure, N-propanol and isopropanol have distinct characteristics. The pharmaceutical and plastics industries benefit greatly from their special chemical features, driving up product demand.However, because to the higher cost of raw materials, n-propanol is usually more expensive than isopropyl alcohol.
Dirt, wax, tar, oil, grease, paints, abrasive dust, corrosive materials, and other water-insoluble compounds can be removed with the help of industrial propanol and other cleaning solutions. By eliminating stains from surfaces and acting as a corrosion and contamination barrier, industrial propanol can increase the lifespan of machinery. The production of superior propanol requires the use of hydrocarbon solvents including petrol, kerosene, xylene, and white spirit.
Product consumption is being aided by the proliferation of production facilities and the persistent expansion of end-use sectors. Increasing demand for isopropyl alcohol, which finds widespread application in the pharmaceutical and chemical intermediates industries, is the primary factor propelling the market forward. Because of its antibacterial and solvent characteristics, the molecule finds extensive usage in the pharmaceutical industry. The n-propanol market is projected to expand at a steady rate due to the substance's widespread application as a solvent and in the manufacturing of speciality chemicals.
Over the past decade, the pharmaceutical business has expanded rapidly thanks to new product launches and increased spending on healthcare by governments in emerging markets. The rise in chronic diseases has been a major impetus for new developments in the pharmaceutical sector. The COVID-19 outbreak has also raised demand for hand sanitizers. Isopropyl alcohol is a key ingredient in several hand sanitizers. Sales of hand sanitizers and similar products are expected to skyrocket in the next years, helping the sector capitalise on the growing interest in preventative medicine.
In developing countries, the building industry is expanding rapidly. The propanol industry has benefited from this trend because of the rising need for paint and coatings. In the production of paints and coatings, N-propanol is utilised as a solvent. The growing number of people living in cities in emerging economies is largely responsible for the expansion of the construction sector. The World Bank estimates that in most APAC nations like India, Myanmar, Nepal, and Afghanistan, fewer than 35% of the population resides in urban areas. The construction industry will benefit from the positive growth forecast for these economies. More and more people in developing countries are moving to major urban centres, driving up demand for new housing. The Institute of Civil Engineers predicts that worldwide construction output would increase by 85% to USD 15.5 trillion by 2030, with growth concentrated in only three nations (China, the United States, and India). As a result, the worldwide propanol market will be driven by the expansion of the construction industry in these economies.
The growth of the propanol market is being stymied by the dangers to the environment posed by volatile organic compound emissions from the use of petrochemical-based solvents. Petroleum-based solvents pose risks to the environment, so alternatives that use less of these chemicals are increasingly being used. For instance, water-based paints and coatings are being used in construction rather than solvent-based paints and coatings. However, unlike solvent-based paints, water-based paints do not leave behind any residue upon drying. Bio and green solvents, which are VOC-free and have the same properties as petrochemical-based solvents, can alleviate this issue.
Report Coverage
Global Propanol research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Propanol report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Propanol competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Propanol market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Propanol market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Propanol market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Royal Dutch Shell Plc (Netherlands), Exxon Mobil Corporation (US), BASF SE (Germany), The Dow Chemical Company (Japan), LG Chem Ltd. (Seoul), 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)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Propanol market based on the below-mentioned segments:
Global Propanol Market, By Type
N-Propanol
Isopropanol
Global Propanol market, By Application
Solvent
Chemical Intermediate
Pharmaceutical
Household and Personal Care Products
Others
Global Propanol market, Regional Analysis
Dirt, wax, tar, oil, grease, paints, abrasive dust, corrosive materials, and other water-insoluble compounds can be removed with the help of industrial propanol and other cleaning solutions. By eliminating stains from surfaces and acting as a corrosion and contamination barrier, industrial propanol can increase the lifespan of machinery. The production of superior propanol requires the use of hydrocarbon solvents including petrol, kerosene, xylene, and white spirit.
Product consumption is being aided by the proliferation of production facilities and the persistent expansion of end-use sectors. Increasing demand for isopropyl alcohol, which finds widespread application in the pharmaceutical and chemical intermediates industries, is the primary factor propelling the market forward. Because of its antibacterial and solvent characteristics, the molecule finds extensive usage in the pharmaceutical industry. The n-propanol market is projected to expand at a steady rate due to the substance's widespread application as a solvent and in the manufacturing of speciality chemicals.
Over the past decade, the pharmaceutical business has expanded rapidly thanks to new product launches and increased spending on healthcare by governments in emerging markets. The rise in chronic diseases has been a major impetus for new developments in the pharmaceutical sector. The COVID-19 outbreak has also raised demand for hand sanitizers. Isopropyl alcohol is a key ingredient in several hand sanitizers. Sales of hand sanitizers and similar products are expected to skyrocket in the next years, helping the sector capitalise on the growing interest in preventative medicine.
In developing countries, the building industry is expanding rapidly. The propanol industry has benefited from this trend because of the rising need for paint and coatings. In the production of paints and coatings, N-propanol is utilised as a solvent. The growing number of people living in cities in emerging economies is largely responsible for the expansion of the construction sector. The World Bank estimates that in most APAC nations like India, Myanmar, Nepal, and Afghanistan, fewer than 35% of the population resides in urban areas. The construction industry will benefit from the positive growth forecast for these economies. More and more people in developing countries are moving to major urban centres, driving up demand for new housing. The Institute of Civil Engineers predicts that worldwide construction output would increase by 85% to USD 15.5 trillion by 2030, with growth concentrated in only three nations (China, the United States, and India). As a result, the worldwide propanol market will be driven by the expansion of the construction industry in these economies.
The growth of the propanol market is being stymied by the dangers to the environment posed by volatile organic compound emissions from the use of petrochemical-based solvents. Petroleum-based solvents pose risks to the environment, so alternatives that use less of these chemicals are increasingly being used. For instance, water-based paints and coatings are being used in construction rather than solvent-based paints and coatings. However, unlike solvent-based paints, water-based paints do not leave behind any residue upon drying. Bio and green solvents, which are VOC-free and have the same properties as petrochemical-based solvents, can alleviate this issue.
Report Coverage
Global Propanol research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Propanol report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Propanol competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Propanol market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Royal Dutch Shell Plc (Netherlands), Exxon Mobil Corporation (US), BASF SE (Germany), The Dow Chemical Company (Japan), LG Chem Ltd. (Seoul), 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) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Propanol Market from 2021 to 2030.
- Market Forecast for Propanol Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Propanol competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Propanol
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Propanol market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Propanol market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Royal Dutch Shell Plc (Netherlands), Exxon Mobil Corporation (US), BASF SE (Germany), The Dow Chemical Company (Japan), LG Chem Ltd. (Seoul), 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)
Primary Target Market
- Market Players of Propanol
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Propanol market based on the below-mentioned segments:
Global Propanol Market, By Type
N-Propanol
Isopropanol
Global Propanol market, By Application
Solvent
Chemical Intermediate
Pharmaceutical
Household and Personal Care Products
Others
Global Propanol market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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