According to a new report by Expert Market Research titled, “Global Propanol (Isopropanol and N-Propanol) Market Share, Size, Report and Forecast 2024-2032″, the global propanol (isopropanol and n-propanol) market size is projected to grow at a CAGR of 3.8% between 2024 and 2032. Aided by its extensive application across diverse industries, including pharmaceuticals, cosmetics, and manufacturing, the market is expected to grow significantly by 2032.
Propanol exists in two primary forms, isopropanol and n-propanol, each with distinct chemical properties and applications. Isopropanol, commonly known as isopropyl alcohol, is widely recognised for its efficacy as a disinfectant and solvent. Its demand surged remarkably during the recent global health crisis, highlighting its critical role in hygiene and sanitation. N-Propanol, on the other hand, is often utilised as a solvent in the manufacturing of pharmaceuticals, cosmetics, and inks, owing to its slower evaporation rate and ability to form azeotropes with water.
The propanol (isopropanol and n-propanol) market growth is propelled by several key factors. The escalating demand for sanitisers and disinfectants, especially in the wake of health emergencies, has significantly driven the consumption of isopropanol. Additionally, the versatile utility of n-propanol as a solvent in various industrial processes further amplifies the market expansion. The burgeoning pharmaceutical and cosmetics sectors globally also contribute to the increasing demand for propanol, leveraging its solvent properties for the formulation of products.
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According to the propanol (isopropanol and n-propanol) market analysis, the application spectrum of propanol extends beyond pharmaceuticals and cosmetics, infiltrating the realms of adhesives, coatings, and the food and beverage industry. In the manufacturing sector, propanol is utilised as a key ingredient in the production of adhesives, varnishes, and paints, attributed to its excellent solvency and evaporation characteristics. Innovations and research in propanol-based solutions are set to broaden its applications, promising a fertile ground for market growth.
The global propanol market showcases significant regional disparities, with North America and Asia-Pacific accounting for significant portions of the propanol (isopropanol and n-propanol) market share. The North American market benefits from a well-established pharmaceutical and cosmetics industry, coupled with stringent regulations promoting the use of effective sanitisers. Asia-Pacific, with its rapid industrialisation and expanding manufacturing sector, emerges as a dynamic growth hub for the propanol market. The region’s increasing focus on healthcare and hygiene further accentuates the demand for propanol-based products.
The propanol (isopropanol and n-propanol) market outlook is being influenced by the product’s expanding utility and application across industries. The ongoing research in green chemistry and sustainable practices is expected to introduce bio-based propanol variants, aligning with global sustainability goals. As industries continue to evolve and the emphasis on hygiene and health remains paramount, the demand for propanol, in both its forms, is projected to ascend.
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Market Segmentation
The market can be divided based on product type, end use, and region.
Market Breakup by Product Type
• N-propanol
• Isopropanol
Market Breakup by End Use
• Pharmaceutical
• Chemical
• Personal Care
• Printing Inks
• Paints and Coatings
• Others
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global propanol (isopropanol and n-propanol) market. Some of the major players explored in the report by Expert Market Research are as follows:
• BASF SE
• The Dow Chemical Company
• Eastman Chemical Company
• Exxon Mobil Corporation
• Shell International B.V.
• Honeywell International Inc.
• Solvay S.A.
• LG Corporation
• Sasol Limited
• Tokuyama Corporation
• Others
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