USD 1498.1 million
N-Propanol Market Size, Share, Growth Analysis, By Type(Ethylene Hydrogenation Method, Compounds By-Product Method), By Application(Agriculture, Personal Care, Cosmetics, Pharmaceuticals), By Region - Industry Forecast 2024-2031
Report ID:
SQSG15A2016 |
Region:
Global |
Published Date: April, 2024
Pages:
157
|Tables:
65
|Figures:
75
N-Propanol Market Insights
Global N-Propanol Market size was valued at USD 1498.1 million in 2019 and is poised to grow from USD 1562.52 million in 2023 to USD 2282.36 million by 2031, growing at a CAGR of 4.3% in the forecast period (2024-2031).
Specifically designed to produce chemical intermediates, n-propanol is a solvent. The behavior of n-propanol as a primary alcoholic beverage is what fuels n-propanol demand. Alkyl halides and acetylated chemicals are the two main products it is used to produce. Additional uses for these substances can be found in the pharmaceutical and specialized chemical manufacturing sectors.
Among the most widely used industrial solvents in the manufacturing sectors worldwide are n-propanol alcohol. They are employed in a wide variety of products, including paints and inks, adhesives, cosmetics, plastics, rubber, and heavy industries like automotive and industrial machinery. They are an efficient solvent due to their miscibility with water and little reactivity towards the bulk of commercial chemicals. It is expected that increasing infrastructure spending in emerging nations will significantly boost demand for goods including paints and coatings, adhesives, and industrial gear. Propanol consumption is anticipated to increase as a result of the expansion in these high-value sectors.
Since petrochemicals account for the vast bulk of propanol's sources, environmental concerns over its use have slowed N-Propanol market expansion. In the majority of applications, green solvents are currently replacing petrochemical solvents. Propanol demand may be hampered by the high pace at which products are being developed in the green solvent sector. Propanol demand can be maintained through solvent recycling, which can also serve to lessen the negative effects of propanol on the environment. To open up new growth opportunities, businesses might potentially consider developing new chemical intermediates utilizing the recovered propanol.
US N-Propanol Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Ethylene Hydrogenation Method
Fastest Growth
Ethylene Hydrogenation Method
Growth Rate
4.3% CAGR
Global N-Propanol Market, 2021-2028($ Bn)
Country Share for North America Region- 2021 (%)
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N-Propanol Market Segmental Analysis
Global n-propanol market is segmented by Type, Application and Region. On the basis of type, the n-propanol market is segmented into Ethylene Hydrogenation Method, Compounds By-product Method. On the basis of application, the n-propanol market is segmented into Agriculture, Personal Care and Cosmetics, Pharmaceuticals, Foods and Coatings. On the basis of Region, the Global N-propanol market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
N-Propanol Market Analysis by Type
On the basis of type, the N-Propanol market is segmented into Ethylene Hydrogenation Method, Compounds By-product Method. Among these segments, the Ethylene Hydrogenation method is expected to account larger market share in the coming years. The efficiency of the method which yields the highest amount of n-propanol makes it the most preferable method for industrial production of n-propanol. The Compounds By-product method is the subsidiary method used in traces by industries.
N-Propanol Market Analysis by Application
On the basis of application, the N-Propanol market is segmented into Agriculture, Personal Care and Cosmetics, Pharmaceuticals, Foods and coatings. The demand for coatings is being fuelled by the expansion of the global construction and automotive industries. This alcohol's positive traits, such as its high miscibility with typical solvents, make it the perfect liquid for coatings industry applications. Additionally, a consistent uptick in the number of vehicles sold in developing Asia, the Pacific, Europe, and South America will ultimately spur market expansion.
During the forecast period, the food additive segment is expected to increase at a considerable CAGR. The rising use of 1-propanol as a food ingredient for flavor and aroma is expected to increase its usage. During the projection period, the pharmaceutical segment is expected to increase at a rapid pace. The increasing use of n-propyl alcohol in applications such as antiseptic, solvent, cellulose esters, and others will drive up demand for it.
Global N-Propanol Market By Type , 2021(%)
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N-Propanol Market Regional Insights
Asia Pacific held the global n-propanol market share in 2021. The Asia Pacific market will grow as a result of the rising urbanization and industrialization in China, India, and South Korea. The region's market is anticipated to benefit from the significant investment made in the construction sector. The market in Asia Pacific will benefit greatly from the rising automobile industry. During the projection period, North America is anticipated to grow quickly. The expansion is due to the region's presence of manufacturing facilities. The region's expansion will be aided by the rising end-user demand and the booming paints and coatings sector. The strong demand from the specialty chemical sector will help to increase the market share of n-propanol in North America.
The building sector is expanding quickly in emerging economies. The market for propanol has grown as a result of the growing demand for paint and coatings. The paints and coatings industry uses n-propanol as a solvent during production. The growing urban population in the majority of emerging regions is the cause of the growth of the building sector. Less than 35% of people live in metropolitan centers in the majority of APAC nations, including India, Myanmar, Nepal, and Afghanistan, according to the World Bank. The expansion of the construction sector will be aided by the anticipated, optimistic growth of these economies.
The population in emerging nations is moving more and more to tier 1 and metro areas, which is increasing the need for residential development. The production of the construction industry will increase by 85% to USD 15.5 trillion by 2030, according to the Institute of Civil Engineers, with China, the US, and India accounting for 57% of the increase internationally. Thus, when the construction sector expands in these countries, there will be a greater demand for paints and coatings, which will ultimately drive the worldwide n-propanol market.
Global N-Propanol Market By Geography, 2021 - 2028
- Largest
- Fastest
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N-Propanol Market Dynamics
N-Propanol Market Driver
- Market expansion will be aided by booming demand from the paints and coatings sector. Due to the use of in building blocks, the market is anticipated to benefit from attractive prospects created by the rising construction sector. Global Construction Perspectives and Global Economics predict that by 2030, the value of construction output would increase by 85% to US$ 15.5 trillion globally, with China, the US, and India accounting for 57% of the expansion. Paints and coatings are made using n-propanol as a solvent. In the upcoming years, the market's expansion will be aided by the increased focus on protecting structural components from external harm like corrosion. Furthermore, the market's growth in the near future may be stimulated by the thriving pharmaceutical industry.
- N-propanol is used in the cosmetic industry. Due to its antibacterial and antiperspirant qualities, potash alum can be used as a deodorant. Additionally, N-propanol is utilized in the composition of numerous cosmetic goods, including face powders, moisturizers, skincare products, and cleansing products. Consequently, the cosmetics sector is boosting the demand for n-propanol.
N-Propanol Market Restraint
- Stringent environmental rules governing the handling and transportation of organic chemicals would restrain the expansion of the propanol industry. Additionally, the high combustibility of the raw materials places various limits on the global propanol market, which is also anticipated to restrain market expansion throughout the forecast period. Because of the fluctuating price of crude oil, rising raw material costs, particularly for acetone and propylene, are expected to impede demand over the projection period.
- Due to significant VOC emissions and other environmental problems connected with the use of petrochemical-based solvents, the market for propanol is being constrained by a shift in emphasis toward green solvents. Because of the environmental dangers connected with petroleum-based solvents, there has been an increase in the usage of replacements that use fewer amounts of petrochemical-based solvents, such as the use of water-based paints and coatings in construction applications rather than solvent-based paints and coatings. Water-based paints do not, however, offer the same level of finish as solvent-based paints do. By using bio & green solvents, which have the same properties as solvents derived from petrochemicals but don't include VOCs, this issue can be solved.
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N-Propanol Market Competitive Landscape
The global N-propanol market is highly competitive. As a result, the global N-propanol market has been witnessing the constant entry of new players over the years. In order to sustain the highly competitive environment, existing players differentiate themselves through innovation, quality, and technology. Companies are focusing on mergers and acquisitions and partnerships, collaborations to survive in the competitive environment.
N-Propanol Market Top Players Company Profiles
- BASF SE
- Dow Chemical Company
- Eastman Chemical Company
- Mitsui Chemicals Inc.
- Sasol Limited
- LG Chem Ltd.
- Oxea GmbH
- INEOS AG
- Perstorp Holding AB
- LCY Chemical Corp.
- Zhejiang Xinhua Chemical Co. Ltd.
- ISU Chemical Co. Ltd.
- Shell Chemicals
- LyondellBasell Industries N.V.
- KH Neochem Co. Ltd.
- Sinopec Shanghai Petrochemical Company Limited
- Nippon Nyukazai Co. Ltd.
- Sekisui Chemical Co. Ltd.
- Jinyimeng Group
- Tokuyama Corporation
N-Propanol Market Recent Developments
- In July 2022, US-based Eastman Chemical is considering building an $850 million molecular recycling facility at its Texas City, Texas, complex, according to documents filed with the Texas Comptroller's Office.
- In March 2022, OQ Chemicals announced the introduction of a company-wide sustainability program during the renowned industry event AFPM International Petrochemical Conference (USA). With the main aim of sustainably reducing greenhouse gas emissions, the program called “reduce” has set clear goals for OQ Chemicals to become climate-neutral until the middle of the century.
N-Propanol Key Market Trends
- Due to their ability to mix with various solids, liquids, and gases, solvents are utilized in a variety of industrial processes. Solvents containing propane are frequently utilized in sectors like paint, adhesives, and pharmaceuticals. The world's developing nations are rapidly industrializing, which will offer plenty of room for expansion for propanol producers in the years to come. The propanol market in emerging nations will grow as a result of rising adhesive, paint, pharmaceutical, and other product consumption brought on by developments in the construction, automotive, healthcare, and other industries.
- N-propanol is used cosmetic industry. Due to its antibacterial and antiperspirant qualities, potash alum can be used as a deodorant. Additionally, N-propanol is utilized in the composition of numerous cosmetic goods, including face powders, moisturizers, skincare products, and cleansing products. Consequently, the cosmetics sector is boosting the demand for n-propanol.
N-Propanol Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information services team that collects, collates, co-relates and analyses the data collected by means of primary exploratory research backed by robust secondary desk research.
According to our Global N-Propanol Market analysis, Asia Pacific has a lead over other regions, dominance of Asia Pacific can be attributed to the region's increased usage of n-propanol as a fuel and rise in the automotive sector with that the region of North America is expected to grow rapidly due the efficient manufacturing facilities. On the other hand, based on the segmentation, the segment of Ethylene Hydrogenation Method to hold larger market share because it is considered as most efficient method for the production of n-propanol. According to the application, the segment of Coatings is the fastest-growing segment due to the growing demand of alcohol in automotive industry.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1498.1 million |
| Market size value in 2031 | USD 2282.36 million |
| Growth Rate | 4.3% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on N-Propanol Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on N-Propanol Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the N-Propanol Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the N-Propanol Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the N-Propanol Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the N-Propanol Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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