Global $4.2Bn Propanol Market by Type, Application & Region, 2023 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--May 7, 2019--The “Propanol Market by Type, Application, and Region - Global Forecast to 2023” report has been added to ResearchAndMarkets.com’s offering.
The propanol market size is estimated to be USD 3.5 billion in 2018 and is projected to reach USD 4.2 billion by 2023, at a CAGR of 4%.
The increasing demand for paints & coatings from the construction and automotive industries is the major factor driving the global propanol demand during the forecast period. Furthermore, the development of pharmaceutical production owing to the increasing demand for pharmaceutical drugs and generic, biosimilar, and innovative products are expected to drive the demand for propanol.
However, the increasing usage of bio & green solvents due to high VOC emission from petrochemical-based solvents and increasing usage of recycled solvents are some of the factors that are expected to restrain the market growth during the forecast period.
N-propanol is the fastest-growing type of propanol
N-propanol is estimated to be the fastest-growing type of propanol between 2018 and 2023. N-propanol is expected to register a slight increase in the demand as compared to isopropanol owing to the new law regarding usage of low volatile organic compound (VOC) emitting chemicals in the food processing and food packaging applications.
Furthermore, the rising demand for n-propanol in developing countries worldwide owing to the increasing consumption of pharmaceuticals, paints & coatings, cosmetics, and personal care products due to the growing healthcare, construction, and FMCG businesses is expected to drive the global propanol market.
Direct solvent and chemical intermediate are expected to be the major applications of propanol
On the basis of application, the propanol market is divided applications of isopropanol and applications of n-propanol. The applications of isopropanol are direct solvent, chemical intermediate, household & personal care, pharmaceutical, and others. The direct solvent is estimated to be the largest application for isopropanol owing to its increasing usage in paints & coatings, household cleaners, and personal care & beauty products
While, applications of n-propanol are direct solvent, chemical intermediate, and others, of which chemical intermediate is estimated to be the largest application of n-propanol. The factors driving the n-propanol demand is its increasing consumption for the formulation of n-propyl acetate, ink, and coatings, among others.
APAC is the largest as well as the fastest-growing market for propanol.
APAC is estimated to be the largest and fastest-growing propanol market during the forecast period, owing to the presence of strong and developing pharmaceutical, construction, automotive, and FMCG industries. The shifting focus of global market players to APAC owing to developing the economic condition, favorable rules & regulations, and increasing FDI are driving the growth of these industries.
Propanol is majorly used as a direct solvent in applications such as drug manufacturing, paints & coatings, and household & personal care products. The huge production and consumption of these products in the region is expected to drive the propanol market.
Key Topics Covered
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.5 Unit Considered
2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Data Triangulation
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Propanol Market
4.2 Propanol Market, By Region
4.3 Propanol Market in APAC, By Country and Type
4.4 Propanol Market, Developed Vs Developing Economies
5 Market Overview
5.2 Raw Material Analysis
5.3 Manufacturing Process
5.4 Market Dynamics
184.108.40.206 Increasing Demand for Paints and Coatings Due to the Rapidly Growing Construction and Automotive Industries
220.127.116.11 Growing Global Pharmaceutical Industry
18.104.22.168 Shifting Focus Toward Green Solvents Due to High Voc Emission
22.214.171.124 Solvent Recycling Technology Affecting the Demand for New Solvents
126.96.36.199 Growing Demand for Industrial Solvents in Emerging Economies
188.8.131.52 Harmful Effects of Petrochemical-Based Solvents
5.5 Porter’s Five Forces Analysis
5.6 Macroeconomic Indicators
5.6.1 Contribution of the Healthcare Industry to GDP
5.6.2 Contribution of the Construction Industry to GDP
6 Propanol Market, By Type
6.2.1 Isopropanol is Expected to Have A High Demand in the Household & Personal Care Application in APAC
6.3.1 Increasing Demand for N-Propyl Acetate in APAC is Expected to Affect the Demand for N-Propanol
7 Propanol Market, By Application
7.2 Isopropanol Applications
7.2.1 Direct Solvent
184.108.40.206 Growing Demand for Paints and Coatings is Expected to Boost the Isopropanol Demand as A Direct Solvent
7.2.2 Chemical Intermediate
220.127.116.11 Increasing Demand From Agriculture and Personal Care Industries is Likely to Drive the Chemical Intermediate Segment
7.2.3 Household & Personal Care
18.104.22.168 Growth of the Household & Personal Care Segment is Attributed to the Growing FMCG Industry
22.214.171.124 The Growing Pharmaceutical Industry is Expected to Increase the Demand for Pharmaceutical Grade Isopropanol
7.3 N-Propanol Applications
7.3.1 Chemical Intermediate
126.96.36.199 Increasing Demand From the Chemical Industry is Expected to Boost the N-Propanol Market
7.3.2 Direct Solvent
188.8.131.52 Growth of the Construction Industry in APAC is Expected to Drive the N-Propanol Market in Its Direct Solvent Application
8 Propanol Market, By Region
184.108.40.206 Extensive Use of Propanol in the Household & Personal Care Application Will Positively Impact the Market
220.127.116.11 The Increasing Demand for Beauty and Personal Care Products is Driving the Propanol Market
18.104.22.168 The Pharmaceutical and Construction Industries are the Major Consumers of Propanol
22.214.171.124 The Growth of the Construction and Automotive Industries is Expected to Drive the Propanol Market
8.2.5 South Korea
126.96.36.199 The Automotive Industry is the Key Contributor to the Growth of the Propanol Market
8.2.6 Rest of APAC
8.3 North America
188.8.131.52 High Demand From the Pharmaceutical, Construction, and Chemical Industries is Propelling the Market
184.108.40.206 The Household & Personal Care and Chemical Intermediate Applications Have High Demand for Propanol
220.127.116.11 The Strong Personal Care Industry in the Country Will Boost the Demand for Isopropanol
18.104.22.168 The Increasing Demand for Propanol in the Chemical Industry is Fueling the Market
22.214.171.124 The Increasing Consumption of Paints and Coatings in the Automotive and Aerospace Industries is Augmenting the Propanol Market
126.96.36.199 The Demand From the Fmcg and Printing Industries is Boosting the Propanol Market
188.8.131.52 Increased Demand for Propanol From Manufacturing Industries is Likely to Facilitate the Market Growth
184.108.40.206 Growth in Building & Construction Activities and Chemical Production are Driving the Propanol Market
220.127.116.11 Increasing Infrastructure Development Will Drive the Demand for Propanol in the Country
8.4.7 Rest of Europe
8.5 Middle East & Africa
8.5.1 Saudi Arabia
18.104.22.168 Growth in the Industrial Sector to Increase the End Uses of Propanol
22.214.171.124 Increasing Petrochemical Production is Likely to Boost the Demand for Propanol
8.5.3 Rest of the Middle East & Africa
8.6 South America
126.96.36.199 Increased Disposable Income and Purchasing Power of Consumers are Boosting the Demand for Personal Care Products, Leading to A High Demand for Propanol
188.8.131.52 The Economic Transformation of the Country Will Drive the Demand for Propanol
8.6.3 Rest of South America
9 Competitive Landscape
9.2 Market Ranking of Isopropanol Manufacturers
9.3 Market Ranking of N-Propanol Manufacturers
9.4 Competitive Scenario
9.4.2 New Product Launch
10 Company Profiles
10.1 Royal Dutch Shell PLC
10.2 Exxon Mobil Corporation
10.3 BASF SE
10.4 The Dow Chemical Company
10.5 LG Chem Ltd.
10.6 Sasol Limited
10.7 Eastman Chemical Company
10.8 Tokuyama Corporation
10.9 LCY Chemical Corp.
10.10 JXTG Holdings, Inc.
10.11 Deepak Fertilisers and Petrochemicals Corporation Ltd.
10.12 OXEA GmbH
10.13 Other Companies
10.13.1 Carboclor S.A.
10.13.2 ISU Chemical
10.13.3 Lyondellbasell Industries Holdings B.V.
10.13.6 Dairen Chemical Corporation (DCC)
10.13.7 Tasco Group
10.13.8 A. B. Enterprises
10.13.9 Wenzhou Huaqiao Chemical Reagent Co. Ltd.
10.13.10 KH Chemicals
10.13.11 Tokyo Chemical Industry Co. Ltd.
10.13.12 Zhejiang Xinhua Chemical Co. Ltd.
10.13.13 Mitsui Chemicals, Inc.
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SOURCE: Research and Markets
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PUB: 05/07/2019 06:33 AM/DISC: 05/07/2019 06:33 AM