Global Propanol Market Size By Product Type (N-propanol, Isopropyl Alcohol), By Competitive Landscape, By Geographic Scope And Forecast

Propanol Market Size And Forecast

Propanol Market size had a valuation of USD 2.43 Billion in 2022. We expect that the market will reach a valuation of USD 3.72 Billion by 2030, with an exceptional CAGR of 2.93% from 2024 to 2030.

The global Propanol Market is expected to report exponential growth due to factors such as rising health and hygiene concerns, expansion of the pharmaceutical industry, and the growing demand for industrial solvents such as propanol. Propanol is an excellent solvent for many organic substances which makes it extremely useful for the chemical industry. Furthermore, the applications of Propanol in the paints and coating industry will be the major reason behind the expansion of the Propanol Market. The Global Propanol Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Propanol Market Definition

Propanol is an organic alcohol prepared using propylene and has a chemical formula CH₃CH₂CH₂OH. Due to its alcohol functional group, Propanol has excellent dissolving properties. It is one of the most used solvents in industries like chemical and pharmaceutical industries. The alcohol group on Propanol can dissolve many organic as well as inorganic substances. Furthermore, the unique structure of Propanol also offers slightly acidic properties.

Propanol is considered a weak acid. Some of the commonly manufactured products using Propanol include antifreeze, lacquer formulations, soaps, dye solutions, window cleaners, etc. Isopropyl alcohol, one of the forms of propanol, is also extensively used in the printing industry for printing ink.

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Global Propanol Market Overview

Primary growth factors for the global Propanol Market include rising market demand for Propanol as a solvent and starting ingredient for various personal care, hygiene, and medicinal products. Due to the pandemic, awareness regarding personal and environmental hygiene has increased globally, which in turn, has exponentially favored products like sanitizers. Propanol’s application as an industrial solvent is primarily expected to boost its demand in the chemical industry.

Various chemicals use propanol, either as a solvent or as an ingredient. Thus, with the rising production volume, the need for Propanol is also rising globally. The developing countries are considered the manufacturing hubs. India and China, two of the most populated countries, are offering many expansion opportunities to the key players in the market, especially the chemical and pharmaceutical industries.

Thus, during the forecast period, the Asia Pacific region is forecasted to grow faster in the global Propanol Market. Propanol’s applications in paints, coatings, and printing will have a noteworthy impact on the market.

Global Propanol Market Segmentation Analysis

The Global Propanol Market is Segmented on the Basis of Product Type and Geography.

Propanol Market, By Product Type

• N-propanol
• Isopropyl Alcohol

Based on Product Type, we have segmented the global Propanol Market into N-Propanol and isopropyl alcohol, two of the common forms of Propanol in the market. The isopropyl alcohol segment is estimated to be the market leader due to its extensive industrial applications and applications in the chemical and pharmaceutical industries. Isopropyl alcohol is one of the primary ingredients of sanitizers, which became popular during the COVID-19 period.

Propanol Market, By Geography

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America

Based on geography

the global Propanol Market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. According to our regional analysis, the Asia Pacific region is forecasted to be the reigning market for propanol. Asia Pacific region has an extensively developed pharmaceutical and construction industry that favors the Propanol Market for medicines, paints, and coatings.

Key Players

The “Global Propanol Market” study report will provide a valuable insight with an emphasis on the global market. The major players in the market are Dow Chemical Company, BASF SE, Royal Dutch Shell Plc, Eastman Chemical Company, Mitsui Chemicals Inc, China National Petroleum Corporation, Zhejiang Xinhua Chemical Co Ltd, LG Chem Ltd, Oxea GMBH, LCY Chemical Corp.

Our market analysis also entails a section dedicated to such major players wherein our analysts provide insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the players mentioned above globally.

Key Developments

• In August 2022, Dow Chemical Company announced a collaboration with X-Energy, a nuclear energy innovation company, to reduce overall carbon emissions.
• In May 2021, Royal Dutch Shell announced its collaboration with the Singapore University for the promotion of carbon reduction through a decarbonization study.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Propanol Market. We cover the major impacting factors driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Propanol Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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