Propanol Market Growth Analysis | 2023-2028

Market Insights

The propanol market was estimated at USD 4.57 billion in 2022 and is likely to grow at a CAGR of 5.11% during 2023-2028 to reach USD 6.16 billion in 2028.

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What is propanol?

Propanol, also known as n-propyl alcohol, is a primary alcohol with the formula CH3CH2CH2OH and is sometimes represented as PrOH or n-PrOH. It is a colorless liquid and an isomer of 2-propanol. It is formed naturally in small amounts during many fermentation processes and used as a solvent in the pharmaceutical industry, mainly for resins and cellulose esters, and, sometimes, as a disinfecting agent.

Key Players

Some of the major players in the market are-

• BASF SE
• Eastman Chemical Company
• Exxon Mobil Corporation
• JXTG Holdings, Inc.
• LCY Chemical Corp.
• LG Chem Ltd.
• Royal Dutch Shell Plc
• Sasol Limited
• The Dow Chemical Company
• Tokuyama Corporation.

Market Dynamics

Major factors driving the growth of the propanol market are-

• Fire-resistant properties of propanol and its high durability with easy maintenance.
• It’s the ability to help enhance the appearance of internal & external walls.
• Growing construction and automotive industry.
• Increasing demand for paint and coating applications.

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Segments Analysis

By Type

The propanol market is segmented into isopropanol and N-propanol. The isopropanol segment is expected to hold the larger share of the market during the forecast period, due to its easy availability and low cost, which makes it widely used in applications such as pharmaceuticals, paints & coatings, household & personal care products, painting, automotive, and inks.

By Application Type

The market is segmented into isopropanol applications and N-propanol applications. The isopropanol application segment is estimated to lead the market as isopropanol is used as a direct solvent in various products such as paints & coatings, cosmetics, and pharmaceuticals which are gaining traction in automotive, healthcare, construction, and beauty care industries.

Regional Insights

Asia-Pacific accounted for more than 40% of the market share in 2022 and is estimated to be the fastest-growing market during the forecast period, with China, Japan, India, and Australia being the major countries with lucrative growth opportunities. The growth of the region can be attributed to the rise in population and increasing spending power of people, which is giving rise to the growth of automotive, construction, pharmaceutical, and household & personal care industries, leading to increasing usage of propanol in the region. Also, North America and Europe are expected to offer substantial growth opportunities over the forecast period.

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Critical Questions Answered in the Report

• What are the key trends in the global market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the global market?
• What are the key strategies adopted by the major vendors to lead in the market?
• What is the market share of the top vendors?

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The propanol market is segmented into the following categories.

By Type

• Isopropanol
• N-Propanol

By Application Type

• Isopropanol Applications
• N-Propanol Applications

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the types by application type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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