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

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.