The Asia Pacific Propanol Market would witness market growth of 6.7% CAGR during the forecast period (2024-2031). In the year 2022, the Asia Pacific market's volume surged to 1,149.29 kilo tonnes, showcasing a growth of 18.9% (2020-2023).
The China market dominated the Asia Pacific Propanol Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $682 million by 2031. The Japan market is registering a CAGR of 6.2% during (2024 - 2031). Additionally, The India market would capture a CAGR of 7.5% during (2024 - 2031).
The adoption of propanol has been steadily increasing across various industries, driven by its unique chemical properties, reliability, and versatility. For instance, propanol is valued for its effectiveness as a solvent and cleaner in numerous industrial processes. Its ability to dissolve many substances, including oils, greases, resins, and pigments, makes it highly versatile for diverse applications. Propanol-based solutions offer efficient cleaning, degreasing, and solvent capabilities, improving manufacturing processes and product quality in the automotive, electronics, and printing industries.
Furthermore, propanol offers several performance benefits contributing to its widespread adoption in various industrial applications. In the automotive industry, propanol-based coatings and adhesives provide excellent adhesion, corrosion resistance, and durability, enhancing vehicle longevity and performance. Similarly, propanol’s antimicrobial properties ensure the efficacy of disinfectants and antiseptics in the pharmaceutical and personal care sectors, making it an indispensable ingredient in healthcare products.
The rising chemical sector has attracted foreign investment and collaboration with global chemical companies. These partnerships can lead to the transfer of technology and practices that enhance the production and utilization of propanol. The Indian chemical industry is focusing on adhering to safety and environmental regulations, prompting manufacturers to choose compliant solvents like propanol. This trend fosters a safer manufacturing environment and supports the growth of the propanol market. Thus, the expansion of the chemical sector is driving the market’s growth.
Free Valuable Insights: The Global Propanol Market is Predict to reach USD 6 Billion by 2031, at a CAGR of 6.4%
Based on Type, the market is segmented into Isopropanol (Direct Solvent, Chemical Intermediate, Pharmaceuticals, Household & Personal Care, and Other Isopropanol Applications), and n-propanol (Chemical Intermediate, Direct Solvent, and Other n-propanol Applications). Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
By Type (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Country (Volume, Kilo Tonnes, USD Billion, 2020-2031)
Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
Unique Offerings 