Propanol Market Insights
Propanol market size was worth USD 4.79 Billion in 2021, accounting for a CAGR of 6.6%during the forecast period (2022-2030), and the market is expected to be worth USD 8.51 Billion by 2030.
N-propanol or 1-propanol, commonly known as propanol, is a colorless and volatile liquid that has a characteristic odor. As a primary alcohol, it finds widespread use as a solvent, disinfectant, and intermediate in the production of other chemicals. The demand for propanol is on the rise, fueled by its versatile nature and increasing demand from various end-use industries.
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Applications:
The primary use of propanol is as a solvent in the manufacturing of diverse chemicals, including coatings, inks, resins, and pharmaceuticals. It is also used as a disinfectant in the healthcare sector and as an intermediate in the production of other chemicals like propyl acetate and glycerol. Moreover, propanol serves as a fuel additive and a constituent in windshield washer fluids.
Market value:
The market growth is attributed to the rising demand from several end-use industries, including coatings, pharmaceuticals, and healthcare. The Asia-Pacific region dominates the market, accounting for a substantial market share in 2020.
Market Segment:
By Type :
Isopropyl Alcohol, N-propanol
By Application:
Solvent, Chemical Intermediate, Pharmaceutical(drug), Household and Personal Care Products, Others
By Geography:
North America: U.S., Canada, Mexico
Europe: Germany, France, U.K., Russia, Italy, Spain, BENELUX, Rest of Europe
Asia Pacific: China, Japan, India, South Korea, Australia, ASEAN, Rest of Asia Pacific
Latin America: Brazil, Argentina, Chile, Rest of Latin America
Segmentation:
The market for propanol can be classified into different segments based on type, application, and region. In terms of type, the market can be segmented into n-propanol and iso-propanol. Regarding application, the market can be segmented into coatings, inks, disinfectants, pharmaceuticals, and other uses. Geographically, the market can be segmented into North America, Europe, Asia-Pacific, Middle East Africa, and South America.
In conclusion, the propanol market application is expected to experience significant growth in the coming years due to its versatile nature and increasing demand from various end-use industries. The market is characterized by the presence of numerous players offering propanol as a solvent, disinfectant, and intermediate in the production of other chemicals. With the growing demand from emerging economies and the increasing focus on sustainable chemical production, the propanol market is expected to remain strong in the future. Additionally, the development of new technologies for propanol production and the increasing adoption of propanol as a fuel additive are expected to further fuel market growth.
The study provides answers to the following key questions:
- What type of customers buying the products and services from companies operating in the Propanol Market?
- What will be the roadmap for the product manufacturers operating in the Propanol Market for the forecast period, 2022-2030?
- What are the recent developments in the competitive landscape to look out for during the estimated period?
- What are the major trends influencing customers’ lives and their buying behaviour?
- How can brands best communicate with the customers they intend to target?
- When, where and how the customers want to use or consume the products or services?
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