N-Propanol Market Analysis: Industry Market Size, Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Foreign Trade, Company Share, Manufacturing Process, 2015-2032

H1 2023: The largest n-Propanol producers in H1 2023 were BASF SE, Solvay, Eastman Chemical Company, and Sasol.  Regionally, Asia Pacific was the leading consumer of n-Propanol in H1 2023. However, the price movements were fluctuating throughout H1 2023 in the Asia Pacific region. In the first four months of 2023, n-Propanol prices were heading towards southwards. Due to a lack of demand by the downstream demand from the paints & coatings and solvent industries, n-Propanol prices were going down in these months. The low pricing of n-Propanol was also caused by poor operation rates of the downstream end-user industries and an excess of 1- Propionaldehyde feedstock. As the economic recovery lagged, market participants cut their stockpiles. However, n-Propanol prices increased in May 2023 in the Asia Pacific region. The sudden rise in the prices was supported by the hike in the raw material prices in China. Due to the slowdown in production rates and limited supply before the Labor Day holidays in mid-May. As June approached the demand for agrochemicals decreased and fewer orders were coming in from downstream herbicide producers due to a sluggish agricultural sector. On the other hand, prices trended down in the North American market. Increased supply chain activity led to better product availability in the market.  Although supplies were readily available in the market, it increased the cost of production in mid-May. Herbicide manufacturers saw slow offtakes as a result of decreased agricultural activity despite sufficient supply and less demand by other downstream industries. In the US, n-Propanol prices were mediocre till the end of February 2023 due to moderate demand for n-Propanol from the paint industry. However, in March 2023, n-Propanol prices witnessed a rise as a result of high inflation in the US.

 

The global n-Propanol market has expanded to reach approximately 290 thousand tonnes in 2022 and is expected to grow at a healthy CAGR of 4.22% during the forecast period until 2032. 

 

n-propanol, sometimes referred to as 1-propanol, n-propanol alcohol, propan-1-ol, or propyl alcohol, is a primary alcohol in which a primary carbon atom and the OH entity are bound. 1- Propionaldehyde is catalytically hydrogenated to produce n-propanol.  Through the oxo process, propionaldehyde is created by hydroformylating ethylene with hydrogen and carbon monoxide in the presence of a catalyst, such as a rhodium complex or cobalt octacarbonyl. n-propanol, which is widely miscible with all common solvents, including ethers, glycols, alcohols, ketones, aldehydes, and aliphatic hydrocarbons, is mostly employed as a solvent in the production of coatings, medications, and cosmetics items. It is also utilized as a chemical intermediate in the chemical sector. Numerous industries, including printing, pigment, solvent, and packaging, employ n-propanol in their operations. It is the main ingredient in hair washes, soaps, fragrances, and cosmetic items. In addition, it is utilized in the production of herbicides, adhesives, coatings, paints, and ink. In the pharmaceutical business, N-propanol is used as a solvent in the production of medications, medicines, and other pharmaceutical products. 

 

Throughout the forecast period, the n-propanol market is anticipated to witness a consistently rapid revenue growth rate by its application as a solvent. This is a result of the growing need for propyl alcohol as a solvent due to n-propanol's superior solubility qualities, which enable it to dissolve a variety of materials, including chemicals, resins, and oils. In addition, it is well known for having a better environmental profile and comparatively low toxicity when compared to various alternative solvents, which is in line with the growing emphasis on sustainable and eco-friendly methods in industrial operations. Positive characteristics of this alcohol, like its excellent miscibility with common solvents, make it the ideal liquid for applications in the coatings sector. The growth of the construction and automobile industries is driving up demand for coatings. Consequently, it is anticipated that the growing usage of propanol in medication formulation will propel market expansion. n-propanol works as an inert solvent and cosolvent in many pesticide formulations, such as those used on plants in agriculture. The global n-Propanol market is anticipated to reach 440 thousand tonnes by 2032.

 

Based on region, the Asia Pacific region dominates the n-Propanol market.  The rising usage of n-Propanol to produce agrochemicals and pharmaceutical preparations is likely to increase n-Propanol demand in this region. The growing use of herbicides to increase crop yield in nations like India is another factor contributing to this market growth. Also, rapidly developing nations like China and India will most likely cause the construction sector to grow and lead to new industrial projects. These projects will likely result in a huge demand for paints and coatings for use in buildings and other infrastructure, which will likely increase the need for n-Propanol in this region. 

 

Based on the end-use, the global n-Propanol market is segregated into Agrochemicals, Pharmaceuticals, Paint & Coatings, Printing inks, and Others. However, the Agrochemicals and Pharmaceuticals industries are leading the n-Propanol market and accounted for a market share of approximately 35% in 2022. 

 

Major players in the production of Global n-Propanol are BASF SE, Solvay, Eastman Chemical Company, Sasol, OQ Chemicals GmbH, Dow, Solventis, Chang Chun Group, Tokyo Chemical Industry Co., Ningbo Juhua Chemical & Science Co., LTD., Spectrum Chemical, Ltd., KH Chemicals,  

 

Years considered for this report:

 

Historical Period: 2015- 2022

Base Year: 2022

Estimated Year: 2023

Forecast Period: 2024-2032

 

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Objective of the Study: 

 

• To assess the demand-supply scenario of n-Propanol which covers production, demand and supply of N-Propanol   market in the globe.

• To analyse and forecast the market size of n-Propanol   

• To classify and forecast Global n-Propanol market based on end-use and regional distribution.

• To examine competitive developments such as expansions, mergers & acquisitions, etc., of n-Propanol market in the globe.

 

To extract data for Global n-Propanol market, primary research surveys were conducted with n-Propanol manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global n-Propanol market over the coming years. 

 

ChemAnalyst calculated n-Propanol demand in the globe by analyzing the historical data and demand forecast which was carried out considering the demand of n-Propanol by the end-user industries across the globe. ChemAnalyst sourced these values from industry experts, and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst. 

 

 

Key Target Audience:

 

• n-Propanol manufacturers and other stakeholders

• Organizations, forums and alliances related to n-Propanol distribution

• Government bodies such as regulating authorities and policy makers

• Market research organizations and consulting companies

 

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as n-Propanol manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.

 

Report Scope:

 

In this report, Global n-Propanol market has been segmented into following categories, in addition to the industry trends which have also been detailed below: 

 

Attribute	Details
Market size Volume in 2022	290 thousand tonnes
Market size Volume by 2032	440 thousand tonnes
Growth Rate	CAGR of 4.22% from 2023 to 2032
Base year for estimation	2023
Historic Data	2015 – 2022
Forecast period	2024 – 2032
Quantitative units	Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage	Industry Market Size, Capacity By Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Foreign Trade, Company Share, Manufacturing Process.
Segments covered	By End-Use: (Agrochemicals, Pharmaceuticals, Paint & Coatings, Printing inks, and Others) By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope	North America, Europe, Asia Pacific, Middle East and Africa, and South America.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs. Explore purchase options

 

Available Customizations:

 

With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.

 

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