Global Propanol Market was valued US$ 3.52 Bn in 2018 and expected to reach US$ 4.79 Bn by 2026, at a CAGR of 4.5 % during the forecast period.
Increasing use of propanol in the growing pharmaceutical industry, attributed to the growing population and changing lifestyle in developing countries is expected to drive the global propanol market over the forecast period. Propanol derivatives are increasingly being utilized in the cosmetics industry as a solvent substitute, which is further projected to increase product demand over the forecast period. Further, increasing demand for paints and coatings due to the rapidly growing construction and automotive industries are also anticipated to propel the global propanol market over the forecast period. Advancing technologies in application sectors are expected to provide tremendous opportunities for global propanol market participants overcoming eight years.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
However, stringent environmental regulations regarding transportation and handling of organic compounds are expected to hamper propanol market growth over the coming seven years. Furthermore, global propanol market faces numerous restrictions owing to high raw material combustibility, which is also expected to limit market growth over the forecast period. Increasing raw material prices mostly regarding acetone and propylene, due to volatile crude oil prices is anticipated to hamper the demand over the forecast period.
Based on the type, Isopropanol segment is estimated to lead the propanol market by type during the forecast period. Isopropanol is the key type of propanol, which is used as a solvent in diverse applications, such as paints & coatings, pharmaceutical, inks, and household & personal care products, owing to its low cost and easy availability. The increasing demand for these products due to high industrial growth such as construction, healthcare, printing, and automotive is expected to drive the demand for propanol.
Based on the application, propanol is mainly used to manufacture other solvents such as cosmetics, skin/hair preparations, pharmaceuticals, lacquer formulations, perfumes, and dye solutions, types of antifreeze, soaps and window cleaner. It can also be used to create printing inks, coatings, de-greasing fluids, adhesives, insecticides and herbicides. Normal propanol is also used as a chemical intermediate to create esters, halides, propylamines and propyl acetate. The end user markets of this product are the cosmetics, cleaning, printing,and motor, coatings and chemical industries.
Graphically, the Asia Pacific region is projected to be the fastest-growing propanol market. The growing construction, automotive, household & personal care, and pharmaceutical industries in this region owing to the growing consumer spending and increasing income levels is expected to boost the demand for propanol.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global propanol market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in global propanol market.
Scope of Global Propanol Market
Global Propanol Market, By Type
Global Propanol Market, By Application
• Direct Solvent
• Chemical Intermediate
• Household & Personal Care
Global Propanol Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• Latin America
Key Players Operating in Global Propanol Market
• Royal Dutch Shell Plc
• Exxon Mobil Corporation
• BASF SE
• The Dow Chemical Company
• LG Chem Ltd.
• Sasol Limited
• Eastman Chemical Company
• Tokuyama Corporation
• LCY Chemical Corp.
• JXTG Holdings, Inc.
• Deepak Fertilisers and Petrochemicals Corporation Ltd.
• OXEA GmbH
• Carboclor S.A.
• ISU Chemical
• Lyondellbasell Industries Holdings B.V.
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