Propanol is a colorless chemical found mostly in two forms,
viz., n-propanol and iso propanol. Propanol is manufactured by hydration of
propylene and acetone hydrogenation. Iso-propanol is an isomer of propanol and
mainly used in pharmaceutical applications as a solvent and for manufacturing
of different chemicals. n-propanol is used widely in coating, printing, and ink
industry and as a direct solvent. Major application of propanol is solvent and
this segment is categorized as coating solvent, process solvent, aerosol
solvent and cleaning agent. Propanol is precursor of chemicals which include
isopropyl amines, isopropyl esters, propyl acetate and others.
Growing pharmaceutical and cosmetics sectors is expected to
drive the propanol market. Pharmaceutical industry is witnessing a tremendous
growth owing to the increase in population and changing lifestyle in developing
countries. Demand for n-propanol is expected to rise owing to growing demand
from various applications including solvent and manufacturing of n-propyl
acetate. Propanol and its derivatives are widely used in cosmetic industry as a
solvent and due to its advantages it is replacing other solvents. Growing
demand for cosmetics particularly in emerging economies such as China, Brazil
and India is expected to drive the demand for propanol. Use of n-propanol in
coating is predominant owing to its high consumption in construction and
automotive industry.
Environmental regulations regarding handling and transportation
of volatile organic compounds are expected to hamper the market growth. As
propanol and its raw materials are highly flammable and volatile compounds,
transportation and storage conditions have to be stringent. Availability of raw
materials such as propylene and acetone is affected by supply of crude oil and
price volatility and is expected to be a major restraint. Advancing
technologies are expanding application area of propanol based products, which
is expected to provide immense opportunities in the near future. Established
players and new investors are focusing on promotional activities to increase
awareness and use of propanol- based products. Growing demand from various
applications from emerging economies in Asia Pacific region is expected to be
major opportunity for propanol market.
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Market :
The U.S. was largest consumer of propanol with high demand from
solvent and pharmaceutical application. Pharmaceutical companies in the U.S.
use propanol as a rubbing alcohol and in manufacturing of various tablets and
capsules. Asia Pacific was the second largest consumer of propanol owing
to increasing health awareness of consumers and increasing use of pharmaceutical
products. China and India are witnessing high demand of propanol in cosmetics
and coatings application. In Europe, France and Germany was largest consumer of
iso-propanol owing to demand from pharmaceutical and solvents industry. Germany
was contributing highest to the demand of n-propanol due to wide applications
in solvent industry. Major manufacturers of propanol have manufacturing plants
in North America and Europe which makes them net exporters but Chinese players
are increasing their manufacturing capacities to meet the demand in
Asia-Pacific .
Propanol market is dominated by few multinational companies but
growing demand from developing countries has changed the dynamics of the
market. Key players in this market include BASF SE, China National Petroleum
Corporation, Eastman Chemical Company, Carboclor SA LCY Chemical Corp, Mitsui
Chemicals Inc, Oxea GMBH, ISU Chemical Co Ltd. and Dow Chemical Company,
Sanofi, Royal Dutch Shell Plc., LG Chem Ltd., Zhejiang Xinhua Chemical Co Ltd.
among others.
This research report analyzes this market depending on its
market segments, major geographies, and current market trends. Geographies
analyzed under this research report include
·
North America
·
Asia Pacific
·
Europe
·
Rest of the World
This report provides comprehensive analysis of
·
Market growth drivers
·
Factors limiting
market growth
·
Current market trends
·
Market structure
·
Market projections for
upcoming years
This report is a complete study of current trends in the market,
industry growth drivers, and restraints. It provides market projections for the
coming years. It includes analysis of recent developments in technology,
Porter’s five force model analysis and detailed profiles of top industry
players. The report also includes a review of micro and macro factors essential
for the existing market players and new entrants along with detailed value
chain analysis.
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