Future Market Insights projects that the global n-propanol market will increase from US$ 308.6 Million in 2022 to US$ 420.6 Million by 2032, with a 3.1% CAGR for the whole forecast period. A significant factor anticipated to propel the global market for n-propanol over the forecast period is the global demand for paints, coatings, pharmaceuticals, etc.
End-use industries for n-propanol, including coating, food and beverages, cosmetics, automotive, pharmaceutical, and construction, have been growing globally in recent years. Most of these industries utilize n-propanol for various applications. Thus, the expansion of these industries across the globe, especially in developing nations such as China and India, will play a crucial role in driving the global n-propanol market during the forecast period.
Similarly, the growing demand for alternative fuels to conventional ones is expected to boost sales of n-propanol during the projection period. As renewable transportation fuels, liquid multi-carbon alcohols like n-propanol are desirable. They are simple to carry across large distances, have significant energy densities, and can be used directly instead of conventional internal combustion engines. It is desirable to have engineering catalysts that prefer high-value alcohols.
Request Your Sample Report to Explore Attractive Opportunities: https://www.futuremarketinsights.com/reports/sample/rep-gb-15821
Increasing investment flow in this space and a rise in drug approvals by regulatory bodies are expected to fuel the drug manufacturing procedures, positively impacting the global n-propanol market.
Despite several promising growth potentials, the market faces several difficulties that are anticipated to limit the growth potential. Environmental regulations, particularly in the chemical sector, are becoming stricter regarding using chemically treated products linked to developing risks when used close to people. This might be a barrier for the global market during the forecast period.
“Consistently growing demand from end-use industries, particularly coatings, chemicals, and pharmaceuticals, is expected to drive the global n-propanol market swiftly over the next ten years,” says a lead analyst at FMI.
Key Takeaways from N-Propanol Market Study
- The global n-propanol market is estimated to expand at 3.1% CAGR on a value basis through 2032.
- By application, the solvents segment is estimated to create an incremental $ opportunity of about US$ 60.5 Million during the forecast period (2022-2032).
- Based on end use, pharmaceuticals and coatings segments will generate maximum revenues throughout the forecast period.
- North America and Europe are expected to hold around 35.8% of the market share.
- The U.S. is a prominent importer of n-propanol, with an estimated import volume of 35,146.5 tons of n-propyl alcohol.
- Demand for n-propanol across China is expected to grow steadily over the next ten years.
Download the Complete Research Methodology to Understand our Data-sourcing Process: https://www.futuremarketinsights.com/request-report-methodology/rep-gb-15821
Who is Winning?
The n-propanol market is highly consolidated, in which key players are expected to account for a significant market share.
Some of the top manufacturers include
- BASF SE
- The Dow Chemical Company
- Eastman Chemical Company
- Sasol Limited
- OQ Chemicals
- Spectrum Chemicals
- Solvay S.A.
- Dairen Chemical Corporation
- Zibo Nalcohol Chemical Co., Ltd.
- Solventis Ltd.
- Hefei TNJ Chemical Industry Co., Ltd.
Key players are focusing on increasing their production capacity to expand their footprint all over the globe and gain traction in the market. Further, certain key players are focusing on investing in n-propanol production owing to a significant increase in the demand from the coating industry.
For instance, On July 29, 2021, BASF SE announced a joint R&D initiative with Eni to reduce the CO2 footprint of the transportation sector. The companies collaborated to develop sustainable technology to produce bio-propanol from industrial residues.
More Insights into the N-Propanol Market Report
In its latest report, Future Market Insights offers an unbiased analysis of the global N-propanol market, providing historical data from 2017 to 2021 and forecast statistics for 2022 to 2032. The market is segmented into application, end use, and region to understand the global market potential, growth, and scope.
Take your business to its maximum growth potential by leveraging the right insights: https://www.futuremarketinsights.com/checkout/15821
N-Propanol Market Segmentation
By Application:
- Solvents
- Chemical Intermediates
- Entertainer
- Deicing Fluids
- Others
By End Use:
- Pharmaceuticals
- Household & Personal Care Products
- Chemical Production
- Coatings
- Anti-freeze
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
About FMI – Chemicals and Materials
The Chemicals and Materials division of FMI offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on ‘green alternatives, recycling, renewable technology developments, and supply-demand-trade assessment. Our research studies reference market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
Latest Research Reports on Chemicals & Materials: Navigating Industry Developments
Propanol Market: Growing demand for propanol as a direct solvent, chemical intermediate, cleaner as well as raw material for derivatives in various end-use industries such as paints and coatings, household cleaners, and personal care and cosmetics products is anticipated to bolster the consumption rate in the coming years.
Acetone Market: The global acetone market is projected to reach US$ 6611.3 million in 2023 and is projected to reach US$ 15674 million by 2033, rising at a CAGR of 9% during the forecast period.
Pharmaceutical Solvents Market: The pharmaceutical solvents market is capturing a valuation of US$ 3.9 billion in 2023 and is predicted to reach US$ 6.1 billion by 2033. The market is registering a CAGR of 4.6% during the forecast period.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: [email protected]
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
The post N-Propanol Market Set for Remarkable Growth beyond US$ 420.6 million by 2032, driven by Booming Coatings and Pharmaceuticals Demand appeared first on Future Market Insights.
