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

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.