Propanol (Isopropanol & N-Propanol) Market - Global Industry Analysis

Propanol (Isopropanol & N-Propanol) Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2022-2028

Category: Chemical & Materials Report Format : PDF Report Code: ZMR-6921 Status : Upcoming

Description

Global Propanol (Isopropanol & N-Propanol) Market: Overview

The global propanol (isopropanol & N-propanol) market was estimated at USD 3,948.6 million in 2021, expanding at a CAGR of 4.2% during the forecasted period 2022-2028. Propanol is colorless alcohol that is predominantly accessible in two primary isomers: isopropanol and 1-propanol or n-propanol. Isopropanol and n-propanol are primarily employed as chemical solvents in a wide range of industrial applications such as pharmaceuticals, cosmetics, lacquer formulations, skin & hair preparations, perfumes, antifreezes, dye solutions, rubbing alcohols, acetone window cleaners, soaps, and other chemicals and products.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Global Propanol (Isopropanol & N-Propanol) Market: Growth Factors

The global propanol (isopropanol & N-propanol) market is growing at a rapid rate. Owing to the growing population and changing lifestyles in emerging nations, the pharmaceutical and cosmetic sectors are seeing phenomenal growth. The market is predicted to grow since propanol is an important raw ingredient for the abovementioned sectors. Further, due to low cost and widespread availability, isopropanol is widely utilized as a solvent in a variety of applications, including paints & coatings, inks, and home & personal care goods. There is a growing demand for these items in emerging nations due to high-growth in industries including automotive, printing, and building. In addition to this, propanol is widely utilized as a direct solvent in numerous industrial applications due to its excellent properties such as low volatility, purity, clarity, polarity, mobility, water solubility, and moderate odor. This key aspect is also equally contributing to the growth of the global propanol (isopropanol & N-propanol) market. However, due to significant VOC emissions, there is a rise in the shift toward green solvents which may hamper the growth of the market. On the other hand, heavy investments in technology and R&D activities to overcome such challenges may hinder the growth of the global propanol (isopropanol & N-propanol) market during the forecast period. For instance, in July 2021, BASF and Eni have launched a cooperative R&D program to lower the transportation sector's CO2 emissions. Both firms are working together to find a long-term solution for producing bio-propanol from industrial waste.

The demand for propanol remained constant during the COVID-19 pandemic period. This is majorly attributed to its application in the pharmaceutical and chemical industries.

Global Propanol (Isopropanol & N-Propanol) Market: Segmentation

The global market for propanol (isopropanol & N-propanol) is bifurcated into type, application, and region. Based on the type, the market is segregated into isopropanol and N-propanol. The application segment of the global propanol (isopropanol & N-propanol) market is categorized into pharmaceutical, chemical intermediate, household & personal care, and direct solvent.

Global Propanol (Isopropanol & N-Propanol) Market: Regional Analysis

During the forecasted years, Asia Pacific comprising China, India, Japan, South Korea, Malaysia, and the rest of Asia Pacific is anticipated to witness the fastest growth in global propanol (isopropanol & N-propanol) market. The region's expanding automotive, construction, pharmaceutical, and home & personal care industries are likely to drive up demand for propanol. Propanol is widely used in the construction and automobile sectors for paints and coatings. Likewise, it is utilized in home cleaners and cosmetic products, as well as active pharmaceutical ingredients (API) in pharmaceutical and personal care. North America is also expected to contribute healthy revenue in the global propanol (isopropanol & N-propanol) market. Key facts such as increasing demand for propanol in the household and pharmaceutical sector are driving the market growth in the region. Most of the well-known paint, perfume, and personal care brands are operating in the United States, this ensures continuous demand for propanol in the United States. The US is also projected to register rapid growth in the regional market over the forecast period.

Global Propanol (Isopropanol & N-Propanol) Market: Competitive Players

The key players leading the global propanol (-isopropanol & N-propanol) Market include The Dow Chemical Company, BASF SE, Royal Dutch Shell Plc, Sasol Limited, ExxonMobil Chemical Company, Eastman Chemical Company, LG Chem. Ltd., and Mitsui Chemicals, Inc.

Global Propanol (Isopropanol & N-Propanol) Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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FrequentlyAsked Questions

The global market for propanol (isopropanol & N-propanol) is growing at a rapid rate. Owing to the growing population and changing lifestyles in emerging nations, the pharmaceutical and cosmetic sectors are seeing phenomenal growth. The propanol market is predicted to grow since propanol is an important raw ingredient for the abovementioned sectors.

The key players leading the global propanol (isopropanol & N-propanol) Market include The Dow Chemical Company, BASF SE, Royal Dutch Shell Plc, Sasol Limited, ExxonMobil Chemical Company, Eastman Chemical Company, LG Chem. Ltd., and Mitsui Chemicals, Inc.

During the forecasted years, Asia Pacific comprising China, India, Japan, South Korea, Malaysia, and the rest of Asia Pacific is anticipated to witness the fastest growth in propanol (isopropanol & N-propanol) -market. The region's expanding automotive, construction, pharmaceutical, and home & personal care industries are likely to drive up demand for propanol.

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