Propanol Market Outlook Report 2024-2033 | Size, Trends, Analysis, Insights, Overview

Overview and Scope

Propanol refers to a colorless liquid that is highly miscible with all the solvents, including ketones, aldehydes, alcohols, glycols, aliphatic hydrocarbons, and ethers. The propanol is used as a solvent in various industries due to its high flammability, and miscibility on the human body.

Sizing and Forecast

The propanol market size has grown strongly in recent years. It will grow from $3.66 billion in 2023 to $3.85 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%.  The  growth in the historic period can be attributed to industrial solvent demand, paints and coatings industry growth, pharmaceutical manufacturing, consumer product formulations, surface coating for electronics, printing and packaging industry..

The propanol market size is expected to see strong growth in the next few years. It will grow to $4.72 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%.  The growth in the forecast period can be attributed to pharmaceutical api manufacturing, environmentally friendly formulations, emerging biotechnology applications, focus on green chemistry, increasing use in personal care products, shift towards waterborne coatings.. Major trends in the forecast period include technological advancements in production processes, rising demand for disinfectants and sanitizers, shift towards bio-based propanol, capacity expansions by key manufacturers, strategic collaborations and partnerships..

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Segmentation & Regional Insights

The propanol market covered in this report is segmented –

1) By Type: Iso-Propanol, N-propanol

2) By Grade: Technical Grade, Pharmaceutical Grade, Cosmetic Grade, Electronic Grade

3) By End User: Pharmaceuticals, Chemicals, Personal Care, Printing Inks, Paints and Coatings, Other End Users

Top Major Players:
The Dow Chemical Company
BASF SE
Deepak Fertilizers and Petroleum Corporation Limited
DuPont de Nemours Inc.
Eastman Chemical Company

Asia-Pacific was the largest region in the propanol market in 2023.

Asia-Pacific was the largest region in the propanol market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the propanol market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

The increasing demand for paint and coatings is expected to propel the growth of the propanol market going forward. Paint is described as a dispersion or mixture of opaque pigments or granules in a liquid or medium. Coatings refer to varnishes and inorganic binders, which are used similarly to paints. In the coating industry, propanol is used in the form of semi-volatile alcohol to increase drying qualities, such as in the manufacturing of alkyd resin paints, baked finishes, and electrodeposition paints, and is also employed as a deicing fluid, as an extracting agent, and as an entertainer in azeotropic distillations. For instance, in May 2021, according to the American Coatings Association, a US-based non-profit organization, by exporting goods valued at over $2.2 billion and creating a sizable trade surplus of $1.3 billion, the coatings business also makes a considerable contribution to the American economy. With $293 million in paint and coating exports in 2020, Illinois led the states with the most of these exports, followed by Texas ($198 million) and Ohio ($188 million). Therefore, the rising demand for paints and coatings is driving the growth of the propanol market.

Key Industry Players

Major companies operating in the propanol market report are The Dow Chemical Company, BASF SE, Deepak Fertilizers and Petroleum Corporation Limited, DuPont de Nemours Inc., Eastman Chemical Company, ExxonMobil Chemical Company, Honeywell International Inc., LyondellBasell Industries NV, Mitsui Chemicals Inc., Nanjing Wujiang Chemical Company Limited, Royal Dutch Shell plc, Sasol Limited, Tokuyama Corporation, Ineos Group Holdings Limited, Arkema SA, Braskem SA, Celanese Corp., Chevron Phillips Chemical Company, Evonik Industries AG, Formosa Plastics Corporation, LG Chem Ltd., Lotte Chemical Corp., Merck Co. &  KGaA, Perstorp Chemicals India Private Limited, PetroChina Co. Ltd., Praxair India Pvt. Ltd., PTT Global Chemical Public Company Limited, Reliance Industries Ltd., Saudi Basic Industries Corporation, China Petroleum & Chemical Corporation, Solvay SA, Westlake Chemical Corp., Yara International ASA

The propanol market report table of contents includes:

1. Executive Summary
2. Propanol Market Characteristics
3. Propanol Market Trends And Strategies
4. Propanol Market – Macro Economic Scenario
5. Global Propanol Market Size and Growth
…
31. Global Propanol Market Competitive Benchmarking
32. Global Propanol Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Propanol Market
34.Propanol Market Future Outlook and Potential Analysis
35. Appendix

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