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Global Propanol Market Type & Application (n-Propanol, Isopropanol and Others) - Global Industry Outlook, Key Companies (The Dow Chemical Company, BASF SE, Sasol Limitedand others), Trends and Forecast 2023-2032

Published on : February-2025  Report Code : RC-438  Pages Count : 257  Report Format : PDF
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Market Overview

Global Propanol Market size was valued at USD 4,239.3 Mn in 2023 and it is further anticipated to reach a market value of USD 7903.5 Mn in 2032 at a CAGR of 7.2%.

This substantial growth can be accredited to the increasing use of propanol as a primary direct solvent in various applications, such as pigments, coatings, dyes, paint additives, & fuel additives. Additionally, in the biopharmaceutical sector, propanol finds significant application in sanitizer formulations. 

Despite having the same chemical structure, isopropanol & n-propanol have distinct chemical characteristics, leading to a rise in desire for these chemicals, particularly in the plastic & biopharmaceutical sectors. Conversely, it is worth noting that n-propanol is generally costlier as compared to isopropyl alcohol because of the elevated raw or basic materials’ cost.

Propanol Market Growth Analysis

n-propanol and Isopropyl alcohol are widely used as direct solvents spanning diverse sectors globally, such as adhesives, cosmetics, inks, paints, rubber, automotive & heavy machinery used in various industries. Their effectiveness as solvents is attributed to their Minimal reactivity with typical substances & their ability to mix with water. 

The increase in spending on infrastructural development in emerging economies is anticipated to drive demand for products such as coatings & paints, machinery, and adhesives &, positively impacting the usage of propanol.

Propanol market demand is on an upswing due to its essential applications across industries like pharmaceuticals, automotive and cosmetics. Propanol serves as an industrial solvent in production as well as an intermediate for chemicals like propylene oxide that are essential in various industrial processes; additionally its eco-friendly characteristics have helped fuel its market expansion.

Propanol consumption is driven primarily by its use in pharmaceutical manufacturing for medical formulations, disinfectants, and hand sanitizers. Furthermore, propanol is employed as a fuel additive in automotive engines to increase efficiency while its widespread application as personal care products such as lotions, hair care items and perfumes contributes to market expansion and illustrate its versatility.

Propanol market opportunities are driven by increasing industrial activity in emerging economies. Environmental regulations tightening are expected to spur demand for bio-based and green solvents such as isopropanol - creating new growth prospects in electronics and healthcare applications. Additionally, innovations within propanol derivatives like isopropanol offer new pathways for growth opportunities in this market.

Asia-Pacific dominates global propanol demand, accounting for over 45%. China and India each account for about 30-35%, due to rapid industrialization and manufacturing expansion. North America and Europe follow, with United States and Germany as particularly prominent consumers, particularly within automotive and pharmaceutical industries.

Key Takeaways

  • Market Size & Share: Propanol Market size was valued at USD 4,239.3 Mn in 2023 and it is further anticipated to reach a market value of USD 7903.5 Mn in 2032 at a CAGR of 7.2%.
  • Diverse Industrial Applications: Propanol, especially isopropanol, is widely used as a solvent in coatings, adhesives, inks, and personal care products, driving consistent demand.
  • Growing Pharmaceutical Use: The pharmaceutical sector relies on propanol for disinfectants, antiseptics, and hand sanitizers, with demand surging during health crises like COVID-19.
  • Trend Toward Bio-Based Solutions: Increasing environmental awareness is spurring the development and adoption of bio-based propanol derived from renewable resources.
  • Emerging Markets Growth: Rapid industrialization and expanding healthcare infrastructure in Asia-Pacific and Latin America create significant opportunities for market growth.
  • Regional Analysis: The Asia Pacific region dominates the propanol market, holding a maximum share in 2023. 

Use Cases

  • Solvent in Pharmaceuticals: Used as a solvent in drug formulations and medical applications, ensuring proper dissolution of active ingredients.  
  • Cosmetic & Personal Care Products: Acts as a skin-conditioning agent and disinfectant in perfumes, lotions, and hand sanitizers.  
  • Industrial Cleaning & Disinfection: Used in surface cleaners, degreasers, and sanitizers for industrial and commercial hygiene applications.  
  • Paints, Coatings & Inks: Functions as a solvent in paints, varnishes, and printing inks, enhancing drying time and consistency.  
  • Chemical Intermediate in Manufacturing: Serves as a precursor for esters and other chemicals, aiding in the production of coatings, adhesives, and plastics.  

Market Dynamic

Over the past decade, the healthcare medical sector has witnessed significant growth due to advancements in product development & an increase in spending on these sectors by several countries. The rise in chronic diseases has driven substantial development within the healthcare medical sector. 

Additionally, the demand for sanitizers heightened during the recent pandemic, further boosting the sector's growth. Isopropyl alcohol has emerged as a major compound in sanitizer production, & the market is expected to benefit from the growing trend of preventive healthcare, leading to increased sales of sanitizers and related products in the future.
 
While petrochemicals act as a primary raw material for the production of propanol, ecological worries have somewhat hindered market expansion. The emergence of green solvents in various applications has led to some replacement of solvents including petrochemicals, affecting propanol demand. 

However, the sector is exploring solutions such as recycling solvents to mitigate the environmental impact of propanol use. Additionally, companies are developing new or fresh chemical middle products that can be produced utilizing recovered propanol, creating new growth opportunities in the market.

Driving Factors

Propanol market growth is propelled by its many applications in chemical and pharmaceutical industries. Propanol, specifically isopropanol, is widely used as a solvent in coating production; adhesive manufacturing; ink printing, and hand sanitizer formulation.

While rising investments in chemical manufacturing as well as increased emphasis on hygiene and healthcare drive its demand; eco friendly solvents used for sustainable production also play a crucial role in global industrial and healthcare applications utilizing propanol as part of sustainable solutions driving its growth globally.

Trending Factors

The market is experiencing an increasing shift towards bio based propanol due to an increasing focus on environmental conservation and sustainability. Derived from renewable sources like biomass, this greener alternative to petroleum derived variants provides greater environmental advantages. This coincides with global efforts to reduce carbon emissions and dependencies on fossil fuels, with industries using innovative techniques, like fermentation and biocatalysis, to produce bio propanol at scale. 

Furthermore, regulatory support for eco friendly products and consumer demand for sustainable solutions are speeding up this shift, which represents an inflection point promising significant increases in bio based propanol production and adoption.

Restraining Factors

The propanol market faces obstacles due to fluctuating raw material prices, particularly petroleum derivatives which significantly impact production costs. Uncertainty surrounding fluctuating crude oil prices resulting from geopolitical tensions, supply and demand imbalances and market speculation creates instability for manufacturing budgets. 

As bio based alternatives lack scalability and technological requirements that enable wide adoption, their high costs hinder wider adoption. Price instabilities harm profit margins and deter small and midsized enterprises from entering the market; until more efficient production processes can be established, raw material volatility remains an obstacle to its expansion.

Opportunities

Emerging economies provide promising prospects for the propanol market, driven by rapid industrialization and urbanization. Sectors such as construction, automotive manufacturing and pharmaceutical production are expanding quickly driving an increase in demand for propanol as a solvent or chemical intermediate. Asia, Latin America and the Middle East are witnessing rapid infrastructure development and healthcare investments, creating an expansive market for propanol products. 

Government initiatives encouraging local manufacturing and foreign investments are also contributing to market expansion in these emerging markets, providing companies with an opportunity to take full advantage of emerging market potential through strategic partnerships and technological advancement.

Research Scope and Analysis

By Type & Application

The isopropanol-type segment dominates the market, holding a maximum share in 2023. This significant market dominance can be accredited to the increasing use of isopropanol in various applications, including as a solvent, antiseptic, cleaning agent, chemical intermediate, astringent, and more. The growing desire for isopropyl alcohol is driven by its low chemical reactivity and antimicrobial properties, making it a preferred choice for numerous applications.
 
The cleaning agents’ demand has been significantly rising, particularly in the domestic sector driven by the growing awareness about health & hygiene among consumers. Producers are utilizing strategies for product distinctiveness to expand sales of cleaning agents, especially in developing nations with increasing incomes. has a vital function in these cleaning mixtures, additionally leading to consistent growth of its market reach. 

On the other hand, n-propanol finds primary usage in the manufacturing of chemical intermediates, with a significant demand arising due to its extensive usage as an alcoholic drink. It is widely used in producing acetylated chemicals & alkyl halides, which are further used in healthcare and medical sectors.

Among the various applications of isopropanol, its application as a direct solvent dominates the market. This is majorly due to the increasing utilization of isopropanol in various products, including soaps, dyes, window-cleaning agents lacquer formulations, antifreeze, etc. solidifying its position as a preferred solvent in multiple industries.

The Global Propanol Market Report is segmented on the basis of the following:

By Type & Application

  • n-Propanol
    • Chemical Intermediate
    • Direct solvent
  • Isopropanol
  • Chemical Intermediate
  • Direct Solvent
  • Healthcare & Medical
  • Household & Personal Care
  • Others

How Does Artificial Intelligence Contribute To Improve Propanol Market ?

  • Optimized Production Processes: AI-powered predictive analytics and automation enhance propanol manufacturing by optimizing temperature, pressure, and reaction conditions, reducing waste and energy consumption.  
  • Quality Control & Purity Assurance: AI-driven machine learning models and sensors detect impurities in propanol production, ensuring high purity levels for pharmaceutical and industrial applications.  
  • Supply Chain & Inventory Management: AI-integrated logistics platforms forecast demand, optimize distribution routes, and prevent supply chain disruptions in the propanol market.  
  • Sustainable & Green Chemistry Innovations: AI analyzes chemical reactions and material properties to develop eco-friendly, bio-based propanol production methods, reducing environmental impact.  
  • Market Demand Prediction & Pricing Optimization: AI-driven big data analytics predict market trends, helping manufacturers adjust pricing and production levels based on real-time demand. 

Regional Analysis

The Asia Pacific region dominates the propanol market, holding a maximum share in 2023. This can be accredited to the rising industries observed in economies like China, South Korea & India. Primary drivers of product utilization in the region include an increase in spending on infrastructural development & the strong presence of the healthcare & pharmaceutical sectors, fueling the demand for propanol in various applications.

Propanol Market Regional Analysis

In Europe, the demand for propanol is on the rise due to its wide-ranging applications across sectors such as chemicals and healthcare & medical. The usage of propanol witnessed significant growth since 2022, mainly due to the heightened demand for sanitizers during the COVID-19 pandemic. 

This surge in demand led to an isopropyl alcohol shortage, prompting companies in the region to increase their procurement of their raw material supply & production capacities. Germany, in particular, is a leading propanol producer in Europe, with companies like INEOS & Oxea Gmbh expanding their manufacturing units to meet the escalating demand. The increase in n-propanol production has been very helpful in making disinfectant products.

By Region

North America
  • The U.S.
  • Canada
Europe
  • Germany
  • The U.K.
  • France
  • Italy
  • Russia
  • Spain
  • Benelux
  • Nordic
  • Rest of Europe
Asia-Pacific
  • China
  • Japan
  • South Korea
  • India
  • ANZ
  • ASEAN
  • Rest of Asia-Pacific
Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Rest of Latin America
Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Israel
  • Egypt
  • Rest of MEA

Competitive Landscape

Major players in the propanol market are actively engaging in research and development (R&D) endeavors to explore novel applications for propanol. As the demand for bio-based chemicals continues to rise, driven by stringent regulatory standards in North America and Europe, industry participants are investing in integrated facilities to manufacture end-use products. 

To optimize production costs, some companies are adopting forward integration strategies through partnerships, while others are expanding their production capacities to meet the growing product demand. 

A prime example is Oxea Gmbh, which responded to the surge in demand for hand sanitizers and disinfectants during the COVID-19 pandemic by tripling its supply of n-propanol across Europe in April 2020. This strategic move reflects the industry's commitment to meeting market demands and exploring opportunities in an evolving landscape.

Some of the prominent players in the Global Propanol Market are:

  • The Dow Chemical Company
  • BASF SE
  • Sasol Limited
  • LG Chemicals Limited
  • Oxea GmbH
  • Shell Chemicals
  • Solvay
  • KH Chemicals
  • Dairen Chemical Corporation
  • Lyonellbasell
  • Eastman Chemical Company
  • Tokuyama Corporation
  • Other Key Players

COVID-19 Pandemic & Recession: Impact on the Global Propanol Market:

The Covid-19 pandemic and subsequent recession had a significant impact on the Global propanol market. With widespread lockdowns and restrictions imposed to curb the spread of the virus, several industries faced disruptions, leading to a decline in the demand for propanol in sectors like Personal Care and Paints & Coatings. Additionally, the closure of businesses and reduced economic activity also impacted the consumption of propanol in various applications. 

However, the pandemic created a surge in demand for hand sanitizers and disinfectants, which led to a temporary spike in the propanol market. Companies like Oxea Gmbh responded to this demand by increasing their supply of n-propanol to meet the needs of the healthcare industry. 

Despite these fluctuations, the propanol market is expected to recover as economies stabilize and industries adapt to the new normal. The growing awareness of the importance of hand hygiene and sanitation measures may continue to drive demand for propanol-based products in the post-pandemic scenario.

                                      Report Characteristics
Market Size (2023) USD 4,239.3 Mn
Forecast Value (2032) USD 7,903.5 Mn
CAGR (2023-2032) 7.2%
Historical Data 2017 - 2022
Forecast Data 2023 - 2032
Base Year 2022
Estimate Year 2023
Report Coverage Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc.
Segments Covered By Type (n-Propanol, and Isopropanol), By Application (Chemical Intermediate, Direct Solvent, Healthcare & Medical, Household & Personal Care, and Others).
Regional Coverage North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
Prominent Players The Dow Chemical Company, BASF SE, Sasol Limited, LG Chemicals Limited, Oxea GmbH, Shell Chemicals, Solvay, KH Chemicals, Dairen Chemical Corporation, Lyonellbasell, Eastman Chemical Company, Tokuyama Corporation and Other Key Players.
Purchase Options We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively.

 

Frequently Asked Questions

  • How big is the Global Propanol Market?

    The Global Propanol Market is expected to attain a value of USD 4,239.3 million in 2023.

  • What CARG is projected for the Global Propanol Market?

    The Global Propanol Market is expected to grow at 7.2% CAGR (2023-2032).

  • Which segment (By Type) dominated the Global Propanol Market?

    The isopropanol-type segment dominates the Global Propanol Market with the highest revenue share.

  • Who are the prominent players in the Global Propanol Market?

    Some of the prominent players in the Global Propanol Market include The Dow Chemical Company, BASF SE, Sasol Limited, LG Chemicals Limited, Oxea GmbH, etc.

  • Contents

      1.Introduction
        1.1.Objectives of the Study
        1.2.Market Scope
        1.3.Market Definition and Scope
      2.Propanol Market Overview
        2.1.Global Propanol Market Overview by Type
        2.2.Global Propanol Market Overview by Application
      3.Propanol Market Dynamics, Opportunity, Regulations, and Trends Analysis
        3.1.Market Dynamics
          3.1.1.Propanol Market Drivers
          3.1.2.Propanol Market Opportunities
          3.1.3.Propanol Market Restraints
          3.1.4.Propanol Market Challenges
        3.2.Emerging Trend/Technology
        3.3.PESTLE Analysis
        3.4.PORTER'S Five Forces Analysis
        3.5.Technology Roadmap
        3.6.Opportunity Map Analysis
        3.7.Case Studies
        3.8.Opportunity Orbits
        3.9.Pricing Analysis
        3.10.Ecosystem Analysis
        3.11.Supply/Value Chain Analysis
        3.12.Covid-19 & Recession Impact Analysis
        3.13.Product/Brand Comparison
      4.Global Propanol Market Value ((US$ Mn)), Share (%), and Growth Rate (%) Comparison by By Type & Application, 2017-2032
        4.1.Global Propanol Market Analysis by By Type & Application: Introduction
        4.2.Market Size and Forecast by Region
        4.3.n-Propanol
        4.4. Isopropanol
      8.Global Propanol Market Value ((US$ Mn)), Share (%), and Growth Rate (%) Comparison by By Application, 2017-2032
        8.1.Global Propanol Market Analysis by By Application: Introduction
        8.2.Market Size and Forecast by Region
        8.3. Food & Beverages
        8.4.Healthcare
        8.5. Others
      6.Global Propanol Market Value ((US$ Mn)), Share (%), and Growth Rate (%) Comparison by Region, 2017-2032
        6.1.North America
          6.1.1.North America Propanol Market: Regional Trend Analysis
            6.1.1.1.The US
            6.1.1.2.Canada
        6.2.1.Europe
          6.2.1.Europe Propanol Market: Regional Trend Analysis
            6.2.1.1.Germany
            6.2.1.2.France
            6.2.1.3.UK
            6.2.1.4.Russia
            6.2.1.5.Italy
            6.2.1.6.Spain
            6.2.1.7.Nordic
            6.2.1.8.Benelux
            6.2.1.9.Rest of Europe
        6.3.Asia-Pacific
          6.3.1.Asia-Pacific Propanol Market: Regional Trend Analysis
            6.3.1.1.China
            6.3.1.2.Japan
            6.3.1.3.South Korea
            6.3.1.4.India
            6.3.1.5.ANZ
            6.3.1.6.ASEAN
            6.3.1.7.Rest of Asia-Pacifc
        6.4.Latin America
          6.4.1.Latin America Propanol Market: Regional Trend Analysis
            6.4.1.1.Brazil
            6.4.1.2.Mexico
            6.4.1.3.Argentina
            6.4.1.4.Colombia
            6.4.1.5.Rest of Latin America
        6.5.Middle East and Africa
          6.5.1.Middle East and Africa Propanol Market: Regional Trend Analysis
            6.5.1.1.Saudi Arabia
            6.5.1.2.UAE
            6.5.1.3.South Africa
            6.5.1.4.Israel
            6.5.1.5.Egypt
            6.5.1.6.Turkey
            6.5.1.7.Rest of MEA
      7.Global Propanol Market Company Evaluation Matrix, Competitive Landscape, Market Share Analysis, and Company Profiles
        7.1.Market Share Analysis
        7.2.Company Profiles
        7.3.The Dow Chemical Company
          7.3.1.Company Overview
          7.3.2.Financial Highlights
          7.3.3.Product Portfolio
          7.3.4.SWOT Analysis
          7.3.5.Key Strategies and Developments
        7.4.BASF SE
          7.4.1.Company Overview
          7.4.2.Financial Highlights
          7.4.3.Product Portfolio
          7.4.4.SWOT Analysis
          7.4.5.Key Strategies and Developments
        7.5.Sasol Limited
          7.5.1.Company Overview
          7.5.2.Financial Highlights
          7.5.3.Product Portfolio
          7.5.4.SWOT Analysis
          7.5.5.Key Strategies and Developments
        7.6.LG Chemicals Limited
          7.6.1.Company Overview
          7.6.2.Financial Highlights
          7.6.3.Product Portfolio
          7.6.4.SWOT Analysis
          7.6.5.Key Strategies and Developments
        7.7.Oxea GmbH
          7.7.1.Company Overview
          7.7.2.Financial Highlights
          7.7.3.Product Portfolio
          7.7.4.SWOT Analysis
          7.7.5.Key Strategies and Developments
        7.8.Shell Chemicals
          7.8.1.Company Overview
          7.8.2.Financial Highlights
          7.8.3.Product Portfolio
          7.8.4.SWOT Analysis
          7.8.5.Key Strategies and Developments
        7.9.Solvay
          7.9.1.Company Overview
          7.9.2.Financial Highlights
          7.9.3.Product Portfolio
          7.9.4.SWOT Analysis
          7.9.5.Key Strategies and Developments
        7.10.KH Chemicals
          7.10.1.Company Overview
          7.10.2.Financial Highlights
          7.10.3.Product Portfolio
          7.10.4.SWOT Analysis
          7.10.5.Key Strategies and Developments
        7.11.Dairen Chemical Corporation
          7.11.1.Company Overview
          7.11.2.Financial Highlights
          7.11.3.Product Portfolio
          7.11.4.SWOT Analysis
          7.11.5.Key Strategies and Developments
        7.12.Lyonellbasell
          7.12.1.Company Overview
          7.12.2.Financial Highlights
          7.12.3.Product Portfolio
          7.12.4.SWOT Analysis
          7.12.5.Key Strategies and Developments
        7.13.Eastman Chemical Company
          7.13.1.Company Overview
          7.13.2.Financial Highlights
          7.13.3.Product Portfolio
          7.13.4.SWOT Analysis
          7.13.5.Key Strategies and Developments
        7.14.Tokuyama Corporation
          7.14.1.Company Overview
          7.14.2.Financial Highlights
          7.14.3.Product Portfolio
          7.14.4.SWOT Analysis
          7.14.5.Key Strategies and Developments
        7.15.Other Key Players
          7.15.1.Company Overview
          7.15.2.Financial Highlights
          7.15.3.Product Portfolio
          7.15.4.SWOT Analysis
          7.15.5.Key Strategies and Developments
      8.Assumptions and Acronyms
      9.Research Methodology
      10.Contact
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