The Europe Propanol Market would witness market growth of 5.9% CAGR during the forecast period (2024-2031). In the year 2021, the Europe market's volume surged to 556.14 kilo tonnes, showcasing a growth of 18.3% (2020-2024).
The Germany market dominated the Europe Propanol Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $314.8 million by 2031. The UK market is experiencing a CAGR of 5.1% during (2024 - 2031). Additionally, The France market would exhibit a CAGR of 6.7% during (2024 - 2031).
Also, in the printing industry, propanol serves as a key component in the formulation of inks for various printing processes, including offset, flexographic, and gravure printing. Propanol-based inks offer advantages such as fast drying times, high color intensity, and excellent printability, making them suitable for high-speed printing applications. These inks are used to produce packaging materials, labels, newspapers, and magazines, among other printed materials.
The expansion of the solvents industry creates growth opportunities for propanol manufacturers and suppliers. With the increasing industrial activities, construction projects, and consumer demand in Europe, there is a corresponding need for solvents like propanol. This provides a chance for manufacturers of propanol to increase their market share and meet the increasing demand in the area. Also, the growth of the solvents industry fosters technological advancements and innovation in propanol production processes.
European manufacturers invest in research and development initiatives to improve production efficiency, reduce environmental impact, and enhance product quality. These advancements contribute to European propanol products’ competitiveness in domestic and international markets. Thus, the thriving solvents industry in Europe is driving the market’s growth.
Free Valuable Insights: The Global Propanol Market will Hit 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Type (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Country (Volume, Kilo Tonnes, USD Billion, 2020-2031)
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