Propanol Market Analysis | 2023-2028

Propanol Market Analysis | 2023-2028

Propanol Market Analysis | 2023-2028
Report code - SRAM722 Delivery - 2 Weeks
Propanol Market Size, Share, Trends, Dynamics, Forecast, & Growth Analysis: 2023- See more...

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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Market Dynamics

Introduction

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.

Market Drivers

The 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.

Propanol-Market-Dynamics

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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.

Note: The above list does not necessarily include all the top players in the market.

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Segments Analysis

Segmentations

List of Sub-Segments

Segments with High Growth Opportunity

Type Analysis

Isopropanol and N-Propanol

The isopropanol segment is expected to hold the larger share of the market during the forecast period.

Application Type Analysis

Isopropanol Applications [Direct Solvent, Chemical Intermediate, Household & Personal Care, Pharmaceutical, and Others] and N-Propanol Applications [Chemical Intermediate, Direct Solvent, and Others

The isopropanol application segment is estimated to lead the market.

Regional Analysis

North America, Europe, Asia-Pacific, and Rest of the World

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.

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.

Propanol-Market-Regional-Insights

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Research Methodology

  • This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects propanol market realities and future market possibilities for the forecast period.
  • The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
  • The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
  • 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 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both 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 market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

  • Market structure: Overview, industry life cycle analysis, supply chain analysis.
  • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
  • Market trend and forecast analysis.
  • Market segment trend and forecast.
  • Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
  • COVID-19 impact and its recovery curve
  • Attractive market segments and associated growth opportunities.
  • Emerging trends.
  • Strategic growth opportunities for the existing and new players.
  • Key success factors.

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)

Propanol-Market-Segmentation

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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.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

Frequently Asked Questions (FAQs)

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.

The propanol market was estimated at USD 4.57 billion in 2022.

The propanol market is likely to reach USD 6.16 billion in 2028.

The propanol market is likely to grow at a CAGR of 5.11% during 2023-2028.

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 are among the top players in the market.

Fire-resistant properties of propanol and its high durability with easy maintenance, it’s ability to help enhance the appearance of internal & external walls, growing construction and automotive industry, increasing demand for paint and coating applications are the factors driving the growth of the market.

Asia-Pacific accounted for more than 40% of the market share in 2022.

The Isopropanol application segment is expected to remain dominant in the market during the forecast period.

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