Propanol Market Analysis, Region & Country Revenue Share, & Forecast Till 2028

The global propanol market was valued at USD 4,481.1 Million in 2020 and is expected to reach the value of USD 7,354.3 Million by the end of the year 2028, at a CAGR of 6.30%.

The global propanol market was valued at USD 4,481.1 Million in 2020 and is expected to reach the value of USD 7,354.3 Million by the end of the year 2028, at a CAGR of 6.30%. Propanol is a predominantly available colorless type of alcohol in the form of its two major isomers: isopropanol and n-propanol or 1-propanol. In various industrial applications, isopropanol and n-propanol are primarily used as a natural solvent. It is also used for producing chemicals such as acetone, isopropyl amines, isopropyl acetates, isopropyl esters, glycerol, and MIBK. Apart from this, n-propanol is used in the coating industry as medium-volatile alcohol to enhance the drying properties of electro-deposition paints, alkyd resins, and baking finishes. It is commonly used as one of the main raw materials in the cosmetics industry because of its ability to reduce the propensity of finished products to create foam and reduce liquid thickness.

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Key participants include – Royal Dutch Shell Plc., The Dow Chemical Company, Eastman Chemical Company, Tokuyama Corporation, LCY Chemical Corp., Central Drug House, Ridhdhi Sidhdhi Chemicals, Sasol Limited, Solventis.

Further key findings from the report suggest

  • The market is anticipated to grow at a CAGR of 4.1% in the Asia-Pacific, followed by Europe and North America, with 4% and 6.30% CAGR, respectively. Growing applications in the pharmaceutical industry as in drug production and rubbing alcohol and increasing is the major factor for the growth of the North America propanol market. In Europe, Germany and France are expected to face increased demand for products due to increasing recognition in the solvent industry in the coming years.
  • The highest market share of 39.5% among other regions is of the Asia-pacific region. It is due to an increase in population and awareness for health consciousness, use of cosmetics. It is accounted for the market value of USD 1,206.43 million in 2020.
  • The household and personal care application segment is growing significantly at a CAGR of 4.2%, which is highest among other applications. Increase in disposable income shifting lifestyle toward health consciousness are the factors that help is the growth of the personal care and cosmetic market.
  • Population in the world is registered to grow at a rate of 1.07% in the year 2020-2019. Increase population and health consciousness are supporting the growth of the pharmaceutical and cosmetic market.
  • In 2020, approximately 70.5 million cars were produced worldwide. Propanol is used in painting and coating material, with the increase in demand of painting and coating demand will also increase.

The COVID-19 impact: The growing COVID-19 pandemic has led to the weakening demand for coatings in electronics, automotive, construction, and white goods. The market has the capacity to bounce back, but it completely depends on the duration of the lockdown, and also the impact of the virus on the economy. Even though the overall demand of the market is falling, the demand for Propanol Market is expected to rise in the coming years.

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By Type (Volume, Kilo Tons; Revenue, USD Million; 2020–2028)

  • Isopropanol
  • N-Propanol

By Application (Volume, Kilo Tons; Revenue, USD Million; 2020–2028)

  • Pharmaceutical
  • Chemical
  • Paint and coating
  • Household and personal health care
  • other

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Significant Features that are under Offering and Key Highlights of the Reports:

– Detailed overview of the Propanol Market

– Changes in industry market dynamics

– Detailed market segmentation by type, application, etc.

– Historical, current and projected market size in terms of quantity and value

– Recent industry trends and developments

– Competition situation of Propanol Market

– Key companies and product strategies

– Potential niche segment/region showing promising growth.

Finally, the Propanol Market Report is the authoritative source for market research that can dramatically accelerate your business. The report shows economic conditions such as major locales, item values, profits, limits, generation, supply, requirements, market development rates, and numbers.

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