Propanol Market: Introduction

Propanol, a primary type of alcohol, is a colorless alcohol, primarily used as a chemical solvent. It is available in two types of isomers, known as iso-propanol (1-propanol) and n-propanol (2-propanol). Iso-propanol, first discovered in the 1960s, has various applications like deicers, cosmetics, resins, pharmaceuticals, paints, inks, and adhesives. It is also used in the manufacturing of chemicals like isopropyl amines, acetone, isopropyl acetates, glycerol, isopropyl esters, and methyl isobutyl ketone (MIBK). On the other hand, n-propanol is used as a medium-volatile alcohol in the coatings industry to improve the drying characteristics of electro deposition paints, alkyd resins, and baking finishes. Propanol is widely used in the cosmetics industry as one of the main raw materials, due to its ability to decrease the tendency of finished products to produce foam and to reduce the thickness of liquids.

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Propanol Market: Dynamics

The cosmetics industry is one of the main drivers of the propanol market. Increasing population and changing lifestyles of people moving to urban areas have created the increased need for cosmetics and personal care products. Propanol is used as a rubbing alcohol and in the manufacturing process of various medicines in the pharmaceutical industry. Given the robust growth of the pharmaceutical industry in various major and emerging countries, propanol is expected to experience great demand over the forecast period. Propanol is also used as a coating agent in automotive and construction industries, and given the rapid growth being experienced in these industries, the propanol market is expected to show huge growth over the forecast period. Due to its widespread applications in the industrial solvents and chemicals industries, and with increasing advancements in technologies in application industries, the propanol market is expected to have extensive growth opportunities over the forecast period.

Given the extremely combustible and volatile properties of propanol, strict government regulations are in place in many countries for the storage and treatment of the alcohol. Even though stringent regulations are expected to hinder the growth of the propanol market, its extensive applications will offset the restraints, and the market is expected to register a robust growth rate over the forecast period.

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Propanol: Market Segmentation

On the basis of application industry, the global propanol market has been segmented as:

Industrial Solvents
Chemicals
Pharmaceuticals
Automotive
Cosmetics and Others
On the basis of type, the global propanol market has been segmented as:

Iso-propanol
n-propanol
PropanolMarket: Regional Overview

In the global scenario, North America is anticipated to hold major market share in the propanol market, given the presence of a large number of pharmaceutical and automobile industries in the U.S. This is expected to drive the demand for propanol over the coming years. Asia Pacific is estimated to observe huge growth in the propanol market, due to the increasing demand in China and India. The populations in these countries are experiencing a huge change in their lifestyles, due to increased population concentration in urban areas. This is expected to create soaring demand in the cosmetic, pharmaceutical, and coating industries in these regions, which will drive the propanol market over the forecast period. Also, the increasing automotive and construction industries in the Asia Pacific region is expected to create huge demand for propanol in the coming years. Europe is also anticipated to see exponential development over the coming years. In Europe, Germany is expected to be one of the main drivers of the propanol market in the region, owing to increased activity in the solvents industry, followed by France and other countries.

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Global PropanolMarket: Key Players

Examples of some of the market participants in the global propanolmarket identified across the value chain include:

Dow Chemical Company
BASF SE
Eastman Chemical Company
Mitsui Chemicals Inc.
Zhejiang Xinhua Chemical Co Ltd.
Oxea GmbH
LG Chem Ltd.
ISU Chemical Co Ltd.
LCY Chemical Corp Bobcat
China National Petroleum Corporation
Novacap International SAS