Propanol Market likely to reach beyond 4.2 Billion USD by 2023 at a CAGR of 4.0%


Posted September 17, 2019 by armaan007

Propanol Market expected to be valued at 4.2 Billion USD by 2023, at a CAGR of 4.0%, during 2018–2023

 
According to the new market research [139 Pages Report] "Propanol Market by Type (N-Propanol, Isopropanol), Application (Direct Solvent, Chemical Intermediate, Pharmaceutical, Household & Personal Care), and Region (North America, APAC, Europe, Middle East & Africa, and South America) - Global Forecast to 2023", published by MarketsandMarkets™, the Propanol Market is projected to grow from USD 3.5 billion in 2018 to USD 4.2 billion by 2023, at a CAGR of 4.0% during the forecast period. This growth is attributed to the increasing paints & coatings consumption owing to the expansion of the construction and automotive industries in the developing economies, globally. Also, the increasing consumption of pharmaceuticals owing to the growth of the healthcare industry is expected to boost the demand for propanol.

Request for PDF of the report: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1113

Increasing demand for direct solvent application is expected to drive the propanol demand

In the propanol market, the increasing direct solvent application of isopropanol and n-propanol is expected to drive the overall demand. Isopropanol and n-propanol are used as a direct solvent in diverse applications, such as paints & coatings, cosmetics, flexographic inks, chemical processing, and food processing, in the construction, automotive, beauty care, and FMCG end-use industries. All these industries are expected to register high growth in developing countries during the forecast period owing to increasing R&D spending on new product development, developing economy, favorable trade policies & conditions, and growing middle-class population.

N-propanol is the fastest-growing type segment of the propanol market during the forecast period

N-propanol is projected to be the fastest-growing type segment of the propanol market during the forecast period. Its low toxicity as compared to isopropanol and the new law regarding usage of low VOC emitting chemicals are the major factors driving the n-propanol demand. Also, the increasing consumption of n-propyl acetate in the beauty & fragrance and pharmaceutical industries is fueling the global n-propanol demand. N-propanol is used as a chemical intermediate in the formulation of n-propyl acetate. All these factors together are expected to increase the consumption of n-propanol in various applications, thus boosting the global propanol market during the forecast period.

APAC to be the largest propanol market during the forecast period

APAC is projected to be the largest propanol market during the forecast period. The growing investment in capacity expansion of the automotive and healthcare industries, along with increasing infrastructure development, growing household & personal care products market due to the favorable rules & regulations, and economic development of the region are driving the market. Additionally, the growth in demand for new and improved pharmaceutical drugs to cater to the critical medical conditions have boosted the need for domestic pharmaceutical manufacturing, which is expected to boost the demand for propanol.

Key Market Players

Royal Dutch Shell Plc (Netherlands), Exxon Mobil Corporation (US), BASF SE (Germany), The Dow Chemical Company (US), LG Chem Ltd. (South Korea), Sasol Limited (South Africa), Eastman Chemical Company (US), Tokuyama Corporation (Japan), LCY Chemical Corp. (Taiwan), JXTG Holdings, Inc. (Japan), Deepak Fertilisers and Petrochemicals Corporation Ltd. (India), and OXEA GmbH (Germany) are the key players operating in the propanol market.

Early buyers will receive 10% customization on this report.

Don't miss out on business opportunities in Propanol Market.

Read our blog for more details:  https://chemabd007.blogspot.com/2019/06/propanol-market-to-worth-42-billion-usd.html

About MarketsandMarkets

MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC. 
630 Dundee Road 
Suite 430 
Northbrook, IL 60062 
USA: 1-888-600-6441 
[email protected]
-- END ---
Share Facebook Twitter
Print Friendly and PDF DisclaimerReport Abuse
Contact Email [email protected]
Issued By Markets And Markets
Country India
Categories Health , Industry , Medical
Tags propanol , propanol industry , propanol manufacturers , propanol market , propanol market trends , ropanol market growth
Last Updated September 17, 2019