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.
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
- Rest of the World
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