Press release
Key Factor Supporting Propanol Market Development in 2025: Pharmaceutical Demand Fuels Propanol Market Growth
Propanol
How Large Will the Propanol Market Size By 2025?
In the past years, the size of the propanol market has seen robust growth. It is projected to rise from $3.83 billion in 2024 to $4.02 billion in 2025, boasting a compound annual growth rate (CAGR) of 5.0%. The expansion during the historic period is largely due to the demand for industrial solvents, the growth of the paints and coatings industry, pharmaceutical manufacturing, the formulation of consumer products, electronics' surface coating, as well as the printing and packaging industry.
How Big Is the Propanol Market Size Expected to Grow by 2029?
Expectations are high for robust expansion in the propanol market size in the coming years. By 2029, the market is forecasted to reach $5.05 billion with a compound annual growth rate (CAGR) of 5.9%. The predicted growth within this period can be ascribed to factors like manufacturing of pharmaceutical APIs, ecological formulations, budding biotechnology applications, emphasis on green chemistry, increased use in personal care products, and a move towards waterborne coatings. Noteworthy trends to look out for during this period encompass technological innovations in production procedures, elevated demand for sanitizers and disinfectants, transition to bio-based propanol, capacity increments by prominent manufacturers, and strategic alliances and partnerships.
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Which Key Market Drivers Powering Propanol Market Expansion and Growth?
The propanol market is projected to expand, fueled by escalating demand for pharmaceuticals. Factors like the aging global population, growing prevalence of chronic diseases, and widening healthcare accessibility in developing regions, are leading to a surge in pharmaceutical demand. Propanol finds utility in the pharmaceutical sector as it works as a solvent in medication production, helping dissolve active ingredients and maintain correct viscosity in liquid formulations. For example, the Government of Canada reported in August 2024 that domestic exports in the pharmaceutical trade rose to 12.79 in 2022, up from 10.71 in 2021, while imports climbed to 30.21 from 26.63 over the same period. This growth in both exports and imports reveals a booming pharmaceutical trade sector. As a result, the propanol market is being propelled by this increased demand in pharmaceuticals.
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Which Fast-Growing Trends Are Poised to Disrupt the Propanol Market?
Key players in the propanol market are concentrating on advancing strategic partnerships and collaborations in order to maintain their market dominance. These strategic alliances stimulate innovation, boost production capabilities, and enable entry into new markets, thus promoting overall market development. For instance, in March 2022, a strategic partnership was announced between SHV Energy, a Netherlands-based off-grid energy distributor, and LanzaTech, a US-based chemical manufacturing firm. The partnership aims to deliver renewable propane and other sustainable fuels via established and novel distribution channels. The alliance will primarily focus on the advancement of LanzaTech's existing synthetic biology platform and CCT technology, which repurposes waste carbon into sustainable fuels and other materials such as fabrics, packaging, and other products.
What Are the Emerging Segments in the Propanol Market?
The propanol market covered in this report is segmented -
1) By Type: Iso-Propanol, N-propanol
2) By Grade: Technical Grade, Pharmaceutical Grade, Cosmetic Grade, Electronic Grade
3) By End User: Pharmaceuticals, Chemicals, Personal Care, Printing Inks, Paints And Coatings, Other End Users
Subsegments:
1) By Iso-Propanol (Isopropyl Alcohol): Industrial Grade, Pharmaceutical Grade, Cosmetic Grade
2) By N-Propanol (N-Propyl Alcohol): Industrial Grade, Pharmaceutical Grade
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Who Are the Global Leaders in the Propanol Market?
Major companies operating in the propanol market are The Dow Chemical Company, BASF SE, Deepak Fertilizers and Petroleum Corporation Limited, DuPont de Nemours Inc., Eastman Chemical Company, ExxonMobil Chemical Company, Honeywell International Inc., LyondellBasell Industries NV, Mitsui Chemicals Inc., Nanjing Wujiang Chemical Company Limited, Royal Dutch Shell PLC, Sasol Limited, Tokuyama Corporation, Ineos Group Holdings Limited, Arkema SA, Braskem SA, Celanese Corp., Chevron Phillips Chemical Company, Evonik Industries AG, Formosa Plastics Corporation, LG Chem Ltd., Lotte Chemical Corp., Merck Co. & KGaA, Perstorp Chemicals India Private Limited, PetroChina Co. Ltd., PTT Global Chemical Public Company Limited, Reliance Industries Ltd., Saudi Basic Industries Corporation, China Petroleum & Chemical Corporation, Solvay SA, Westlake Chemical Corp.
Which are the Top Profitable Regional Markets for the Propanol Industry?
Asia-Pacific was the largest region in the propanol market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the propanol market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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