The global N-propanol market size reached USD 299.5 Million in 2021 and it is likely to touch a valuation of USD 308.6 Million in 2022. Furthermore, with rising application in solvents, deicing fluids, and chemical intermediates, the overall sales of N-propanol are projected to rise at 3.1% CAGR between 2022 and 2032, topping a valuation of USD 420.6 Million by 2032.
1-Propanol is formed naturally in a very small amount through numerous fermentation processes and is generally used as a solvent in various industries, mainly for resins and cellulose esters.
N-propanol is manufactured on a large scale industrially by catalytic hydrogenation of propionaldehyde. As a solvent, its application includes flexographic printing inks and textiles, personal care and cosmetics, pharmaceuticals, and cleaners for electronic and household applications.
Robust growth of industries such as pharmaceutical, paint & coatings, personal care, and chemicals coupled with increasing application of n-propanol across these sectors is expected to drive the global market forward during the forecast period.
N-propanol is being extensively used as a solvent and chemical intermediate across various industries for manufacturing a wide range of products including pharmaceuticals, cosmetics, inks, paints, and coatings.
Hence, increasing consumption of these products will eventually boost sales of n-propanol during the projection period.
In the cosmetics industry, this kind of alcohol (n-propanol) can be found in nail polish removers, toothpaste, dental lotions, and perfumes. Over the course of the projection period, growth prospects are anticipated to be brought on by consumers' knowledge of beauty and cosmetics products.
Similarly, the growing popularity of n-propanol in the food & beverage industry will create lucrative opportunities for manufacturers over the next ten years.
The use of n-propyl alcohol in the food industry is permitted by the USA Food and Drug Administration (FDA), including as adjuvants and synthetic flavorings agents.
The Joint FAO/WHO Committee suggested that this form of alcohol only be used as an extraction solvent, a carrier solvent, and a flavoring agent in the food industry.
As a result, companies like Solventis have begun to supply alcohol in food-grade forms. The market demand will increase as customers' preferences for flavored food products continues to grow.
Currently, the n-propanol market accounts for around 20% to 25% of the global propanol market and this number is expected to further surge during the forthcoming years as demand for pharmaceuticals, paints, cosmetics, and coatings continues to rise.
Regionally, East Asia will remain a leading consumer of n-propanol, accounting for about one-third of the overall n-propyl alcohol consumption during the forecast period. The rapid growth of pharmaceutical and construction industries and the large presence of key manufacturers are driving the demand for n-propanol across East Asia.
| Attribute | Key Insights |
|---|---|
| N-Propanol Market Base Value (2021A) | USD 299.5 Million |
| Estimated Market Value (2022E) | USD 308.6 Million |
| Projected Market Value (2032F) | USD 420.6 Million |
| Value-based CAGR (2022 to 2032) | 3.1% |
| Collective Value Share: Top 3 Countries (2022E) | 36.6% |
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The overall market for n-propanol witnessed year-over-year growth of about 1.7% to 3.1% during the past few years. However, based on the current estimations, the global n-propyl alcohol market is projected to grow at about 3.1% CAGR between 2022 and 2032
. Demand for n-propanol has been consistently growing owing to the robust growth of the end-use industries such as pharmaceuticals, coatings, and personal care.
1-propanol is substantially used as an industrial solvent in prominent chemical sectors. It is utilized for the production of a variety of products, including paints and inks, adhesives, cosmetics, plastics, rubber, and coatings. They are effective solvents due to their miscibility with water and little reactivity towards the bulk of common compounds.
Globally, rising infrastructure spending in developing nations is anticipated to significantly boost demand for goods including paints and coatings, adhesives, and industrial machinery. This in turn will have a favorable knock-on effect on n-propanol usage.
Significant growth potential exists in emerging economies such as those in the Asia Pacific. There is a considerable demand for n-propanol products in countries such as India and China owing to the booming construction, chemical, and paint & coatings industries.
Since the chemical industry is consolidated, investments in product development by key manufacturers and rapid industrialization & urbanization could create a significant opportunity for n-propanol manufacturers.
Furthermore, the rising prevalence of chronic diseases coupled with increasing production and consumption of pharmaceuticals will boost sales of n-propanol during the projection period.
Widening Applications in Pharmaceutical and Coating Industries Boost market
The growth of n-propanol is expressively driven by increasing usage in the pharmaceutical and coating industries. N-propanol finds application as a chemical intermediate, solvent, and organic synthesis in many industries. It is mainly used as a solvent in solvent-based coatings, pharmaceuticals, paints, etc.
Owing to the growing usage of n-propanol as a solvent in pharmaceutical and coating industries, a positive growth trajectory has been predicted by FMI for the global n-propyl alcohol market during the forecast period.
Moreover, as an inert ingredient, n-propanol is a cosolvent and solvent in many pesticide products, including those used in agriculture. Thus, growing demand for these pesticide products will eventually boost the sales of n-propanol over the projected period.
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Widening Applications in Pharmaceutical and Coating Industries Boost market
The growth of n-propanol is expressively driven by increasing usage in the pharmaceutical and coating industries. N-propanol finds application as a chemical intermediate, solvent, and organic synthesis in many industries. It is mainly used as a solvent in solvent-based coatings, pharmaceuticals, paints, etc.
Owing to the growing usage of n-propanol as a solvent in pharmaceutical and coating industries, a positive growth trajectory has been predicted by FMI for the global n-propyl alcohol market during the forecast period.
Moreover, as an inert ingredient, n-propanol is a cosolvent and solvent in many pesticide products, including those used in agriculture. Thus, growing demand for these pesticide products will eventually boost the sales of n-propanol over the projected period.
Increasing Usage of N-Propanol in the Pharmaceutical Industry Driving Sales in the USA
Demand for propyl alcohol is expected to rise at a steady pace across the USA during the next ten years, owing to the substantial development in the manufacturing industries and chemical industries.
Similarly, a strong end-user presence in the country has resulted in higher demand for N-propanol as compared with the domestic supply capacity.
The USA is estimated to be a key importer of 1-propanol all over the globe with import volume reaching about 34,110.6 tons in 2021.
Substantial production of pharma drugs and medicines, strong development in the coatings industries, and higher demand for cosmetics are expected to emerge as the key driving factors for the propan-1-ol in the USA
Robust Growth of Construction Industry to Elevate Demand for N-Propanol in China
As per FMI, China is anticipated to be a leading country in terms of the consumption of n-propyl alcohol in the global market. The consumption of n-propyl alcohol in China is estimated to witness a 3.5% growth over the assessment period of 2022 and 2032. The country has an immense old-age population that creates a huge demand for medicine and pharma products.
To cater to such a huge demand, pharmaceutical giants in the country are ramping up their production capacities. They are extensively using solvents like m-propanol for manufacturing various medicines and pharma products.
Additionally, the increasing demand for paints and coatings owing to the rapid development in the construction industry is boosting sales of n-propanol in the country.
According to the data provided by the institute of civil engineers, the construction output will rise by 86 percent to USD 16.5 trillion by 2030 globally, with three countries China, India, and the USA leading the pack. Thus, the expansion of the construction industry in the USA will continue to generate high demand for products like n-propanol over the next ten years.
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Solvents and Chemical Intermediates to Remain Lucrative Applications of N-Propanol
Solvents and chemical intermediates will remain the key applications of n-propanol during the forecast period, owing to the growing demand for the production of various drugs and medicine, pesticide products, and other chemicals.
n-propanol is used as an intermediate and as raw material for the production of various organic compounds including esters, halides, propyl amines, and propyl acetate.
The increasing need for intermediates in the chemical industries for the manufacturing of organic derivatives, pesticides, antifreeze compositions, and certain organic chemicals is expected to propel the growth of the n-propanol market.
Similarly, n-propanol is being increasingly used as a solvent in the manufacturing of pharmaceuticals, dental lotions, paint additives, fuel additives, pigments, coatings, de-greasing fluids, etc. Thus, growing demand and consumption of these products will continue to boost sales of n-propanol over the next decade.
Additionally, the rising usage of this chemical as a laboratory reagent is also expected to benefit the n-propanol industry owing to increasing investment in research and development.
Due to a rise in the demand for n-propanol, more expansion activities have been seen over the last several years. Market players are raising their installed capacity in order to meet the escalating demand from the end-use industries.
Due to the significant growth of the paints and coatings industry, additionally, market competitors are concentrating on producing solvents and chemical intermediates. For Instance,
| Attribute | Details |
|---|---|
| Estimated Market Size (2022) | USD 308.6 Million |
| Projected Market Size (2032) | USD 420.6 Million |
| Anticipated Growth Rate (2022 to 2032) | 3.1% CAGR |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Million for Value and Tons for Volume |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Germany, Italy, France, United Kingdom, Spain, BENELUX, Russia, China, Japan, South Korea, India, ASEAN, Australia and New Zealand, GCC Countries, Turkey, South Africa |
| Key Segments Covered | Application, End Use, and Region |
| Key Companies Profiled | 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.; Others |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The global market for n-propanol is estimated to reach a valuation of USD 308.6 Million in 2022.
Demand for n-propanol is anticipated to increase at 3.1% CAGR over the forecast period of 2022 and 2032 in terms of value.
By 2032, the global n-propanol industry is expected to reach a valuation of USD 420.6 Million.
Solvents will remain a key application of the n-propanol and the segment is estimated to consume about 48.3% of the global n-propanol consumption.
Key players in the global n-propanol industry are expected to account for about 75 to 80% of the overall market share.
The top countries driving demand for n-propanol are China, the USA, ASEAN, and India.
1. Executive Summary 2. Market Overview 3. Key Market Trends 4. Key Success Factors 5. Global Market Demand Analysis 2017 to 2021 and Forecast, 2022 to 2032 6. Global Market - Pricing Analysis 7. Global Market Demand (in Value or Size in USD Million) Analysis 2017 to 2021 and Forecast, 2022 to 2032 8. Market Background 9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Application 9.1. Solvents 9.2. Chemical Intermediates 9.3. Entrainer 9.4. Deicing Fluids 9.5. Others 10. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by End Use 10.1. Pharmaceuticals 10.2. Household and Personal Care 10.3. Products 10.4. Chemical Production 10.5. Coatings 10.6. Anti-freeze 10.7. Others 11. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Region 11.1. North America 11.2. Latin America 11.3. Europe 11.4. Middle East and Africa (MEA) 11.5. East Asia 11.6. South Asia and Pacific 12. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 13. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 14. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032 15. South Asia and Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032 16. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032 17. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032 18. Country-wise Market Analysis 19. Market Structure Analysis 20. Competition Analysis 20.1. BASF SE 20.2. The Dow Chemical Company 20.3. Eastman Chemical Company 20.4. Sasol Limited 20.5. OQ Chemicals 20.6. Spectrum Chemicals 20.7. Solvay S.A. 20.8. Dairen Chemical Corporation 20.9. Zibo Nalcohol Chemical Co., Ltd. 20.10. Solventis Ltd. 20.11. Hefei TNJ Chemical Industry Co., Ltd. 21. Assumptions and Acronyms Used 22. Research Methodology
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N-Propanol Market
