By the increasing demand for household personal care, by the growth in pharmaceutical industries, by increasing demand for painting and coating are the factors for the growth of the propanol market
Market Size – USD 4.21 billion in 2019, Market Growth - CAGR of 6.5%, Market Trends – new research in chemicals and composition are the trends in propanol market
The global Propanol Market was valued at USD 4.21 billion in 2019 and is expected to deliver a CAGR of 6.5% through the forecast period 2020-2027. Propanol is a predominantly available colorless type of alcohol in the form of its two major isomers: isopropanol and n-propanol or 1-propanol. In various industrial applications, isopropanol and n-propanol are primarily used as a natural solvent. It is also used for producing chemicals such as acetone, isopropyl amines, isopropyl acetates, isopropyl esters, glycerol, and MIBK. Apart from this, n-propanol is used in the coating industry as medium-volatile alcohol to enhance the drying properties of electro-deposition paints, alkyd resins, and baking finishes. It is commonly used as one of the main raw materials in the cosmetics industry because of its ability to reduce the propensity of finished products to create foam and reduce liquid thickness.
The propanol market is driven by the increasing demand for household and personal care, growth in pharmaceutical industries. Growing in population and increasing health consciousness is also a factor that boosts the pharmaceutical and cosmetic market, in which it is highly used. Propanol has several potential uses, such as it can be used as a solvent, medical use, cosmetics, and fuel. It is used as a solvent, or it is used to produce other solvents. Apart from this, it is used as resins in painting and coating. Growing demand for paints and coatings due to the increasing automotive and construction industries will further uplift the market. Propanol is widely used as a solvent and cleaning fluid for dissolving oils, application includes cleaning eyeglasses, electronic devices such as contact pins on ROM cartridges, magnetic tape, disk heads, and floppy disk drives the lenses of lasers in optical disc drives, such as CD, DVD and removing the thermal paste from heatsinks and IC packages. The market is expected to increase in the future due to its extensive applications in the chemical and solvent industries and with growing technological advances in the application industries. Strict rules and regulations and an increase in emphasis on green solvents due to high VOC emissions are factors that may affect the propanol market.
Key participants include Royal Dutch Shell Plc., The Dow Chemical Company, Eastman Chemical Company, Tokuyama Corporation, LCY Chemical Corp., Central Drug House, Ridhdhi Sidhdhi Chemicals, Sasol Limited, Solventis.
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Further key findings from the report suggest
- The market is anticipated to grow at a CAGR of 4.1% in the Asia-Pacific, followed by Europe and North America, with 4% and 3.9% CAGR, respectively. Growing applications in the pharmaceutical industry as in drug production and rubbing alcohol and increasing is the major factor for the growth of the North America propanol market. In Europe, Germany and France are expected to face increased demand for products due to increasing recognition in the solvent industry in the coming years.
- The highest market share of 39.5% among other regions is of the Asia-pacific region. It is due to an increase in population and awareness for health consciousness, use of cosmetics. It is accounted for the market value of USD 1,206.43 million in 2018.
- The household and personal care application segment is growing significantly at a CAGR of 4.2%, which is highest among other applications. Increase in disposable income shifting lifestyle toward health consciousness are the factors that help is the growth of the personal care and cosmetic market.
- Population in the world is registered to grow at a rate of 1.07% in the year 2018-2019. Increase population and health consciousness are supporting the growth of the pharmaceutical and cosmetic market.
- In 2018, approximately 70.5 million cars were produced worldwide. Propanol is used in painting and coating material, with the increase in demand of painting and coating demand will also increase.
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Segments covered in the report:
For the purpose of this report, Reports and Data has segmented Propanol Market on the basis of Types, End-use and region:
By Type (Volume, Kilo Tons; Revenue, USD Million; 2017–2027)
By Application (Volume, Kilo Tons; Revenue, USD Million; 2017–2027)
- Paint and coating
- Household and personal health care
Regional Outlook (Volume, Kilo Tons; Revenue in USD Million; 2017–2027)
- North America
- Asia Pacific
- Middle East Africa
- Latin America
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Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018 – 2027
Chapter 3. Indicative Metrics
3.1. Growth in health care services across the globe
3.2. Increase in global population
3.3. Increase in older age population
Chapter 4. Propanol Market Segmentation Impact Analysis
4.1. Propanol Market Segmentation Analysis
4.2. Propanol Market Value Chain Analysis, 2017-2027
4.3. Regulatory framework
4.4. Propanol Market Impact Analysis
4.4.1. Market driver analysis
4.4.2. Restraint analysis
4.5. Key opportunities prioritized
4.6. Propanol Market Pricing Analysis
4.7. Industry analysis - Porter's
4.8. PESTEL Analysis
Chapter 8. Competitive Landscape
8.1. Market Revenue Share by Manufacturers
8.2. Manufacturing Cost Breakdown Analysis
8.3. Mergers Acquisitions
8.4. Strategy Benchmarking
8.5. Vendor Landscape
Chapter 9. Company Profiles
9.1. Royal Dutch Shell Plc
9.1.1. Company Overview
9.1.2. Financial Performance
9.1.3. Product Length Benchmarking
9.1.4. Strategic Initiatives
9.2. The Dow Chemical Company
9.2.1. Company Overview
9.2.2. Financial Performance
9.2.3. Product Length Benchmarking
9.2.4. Strategic Initiatives
9.3. Central Drug House
9.3.1. Company Overview
9.3.2. Financial Performance
9.3.3. Product Length Benchmarking
9.3.4. Strategic Initiatives
9.4. Ridhdhi Sidhdhi Chemicals
9.4.1. Company Overview
9.4.2. Financial Performance
9.4.3. Product Length Benchmarking
9.4.4. Strategic Initiatives
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