Propanol Market: Overview
Propanol is a colorless alcohol generally accessible in two kinds of isomers: n-propanol and iso-propanol. Iso-propanol was the first petrochemical founded in 1960. It is used in a variety of applications, for instance, cosmetics, care products, paints, personal deicers, inks, resins, pharmaceuticals, and adhesives, and also as a chemical transitional to manufacture different chemicals such as isopropyl esters, isopropyl amines, methyl isobutyl ketone (MIBK), acetone, glycerol, and isopropyl acetates. N-propanol is utilized in the coatings production as a medium capricious alcohol for enhancing the drying distinctiveness of electro deposition paints, alkyd resins, and baking finishes. It is mostly used as a printing ink applications and other solvent in flexographic. Propanol is one of the main raw materials mainly utilized in cosmetics industry. It has the capability to lessen the thickness of liquids and decrease the propensity of finished products to produce foam when dazed.
Propanol Market: Growth Factors
Cosmetic and pharmaceutical industries are experiencing a splendid expansion globally owing to growing global population and changing way of life in developing countries. As propanol is a significant raw material for the aforesaid industries, the propanol market is anticipated to rush forward. On the other hand, since it is an extremely combustible and volatile material, propanol makers and distributors are experiencing stringent government obligatory regulations with regards to storage and treatment of the compound. Furthermore, the variations in the cost of raw materials also hold back the market development. Asia Pacific region shows incredible opportunity owing to growing demand for iso-propanol in the province.
Propanol Market: Segmentation
On the basis of application, the global propanol market is divided into direct solvents, n-propyl acetate, glycol ethers n-propylamines, and others. It has exceptional characteristics such as less volatility, clean, clear, polar, transportable, water solubility, and light odor, propanol is mainly used as a direct solvent in a variety of industrial applications.
Propanol Market: Regional Analysis
The US is anticipated to develop into the biggest propanol market in the coming years, due to its growing applications in pharmaceutical business as rubbing alcohol and in drug creation. This is estimated to fuel the product demand in North America over the coming years. Asia Pacific is estimated to observe soaring market development, on account of rising demand in developing countries such as Brazil, India, and China. These countries are anticipated to produce enormous demand owing to increasing pharmaceutical, cosmetic, and coating industries on account of varying lifestyles and increasing population in these regions. China is anticipated to produce major demand over the coming years, due to growing developmental activities which are taking place in the country. Increasing construction and automotive construction industries in the area are further anticipated to drive propanol market over the coming years. Europe is also anticipated to see exponential development over the coming years. European countries such as France and Germany are anticipated to face amplified product demand, due to growing recognition in the solvent industry in the coming years.
Propanol Market: Competitive players
The main players in the global propanol market are Dow Chemical Company, BASF SE, Eastman Chemical Company, Royal Dutch Shell Plc., China National Petroleum Corporation, Mitsui Chemicals Inc., Zhejiang Xinhua Chemical Co Ltd., Oxea GmbH, LG Chem Ltd., ISU Chemical Co Ltd. and LCY Chemical Corp.
Global Propanol Market: Regional Segment Analysis
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