Something went wrong with the connection!

Newhampshire News Online

The propanol market is majorly driven by the household & personal care and pharmaceutical applications in APAC

October 14
19:00 2020
The propanol market is majorly driven by the household & personal care and pharmaceutical applications in APAC

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

The global propanol market size is estimated at USD 3.5 billion in 2018 and is projected to reach USD 4.2 billion by 2023, at a CAGR of 4.0%. Propanol is a colorless type of alcohol available in two isomeric formulations, namely, isopropanol and n-propanol. Isopropanol also known as isopropyl alcohol is a colorless, flammable liquid used as a solvent in various applications such as paints & coatings, cosmetics, pharmaceutical, food processing, resin, and pesticide formulation. It is also used as a chemical reagent and chemical intermediate for chemical formulation processes. N-propanol is majorly used as a direct solvent in applications such as coatings and flexographic inks. It is also used as a chemical intermediate for the formulation of derivatives such as n-propylamine, n-propyl ester, and glycol ether. The derivatives formed using n-propanol are further used in the pharmaceutical, food, and cosmetics applications.

Download  PDF Brochure to Know More:

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.

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.

Request For Sample Report:

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States