The Propanol Market is Predict to reach USD 6 Billion by 2031, at a CAGR of 6.4%

Propanol Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Propanol Market size is expected to reach $6 billion by 2031, rising at a market growth of 6.4% CAGR during the forecast period. In the year 2023, the market attained a volume of 3,171.75 kilo tonnes, experiencing a growth of 18.6% (2020-2023).

The wide range of industries in which propanol is used, such as manufacturing, personal care, and pharmaceuticals, has propelled the market’s growth. Advances in industrial processes and the growing demand for sanitization products have significantly boosted the market, particularly for isopropanol, a key ingredient in disinfectants and hand sanitizers. Additionally, the increasing use of n-propanol as a solvent in producing coatings, paints, and chemicals has further fueled market growth.

The n-propanol segment is registering a CAGR of 7.7% during (2024 - 2031). Due to its solvency power and evaporation rate, n-propanol is a key ingredient in the formulation of paints, varnishes, and coatings. It is a solvent for dissolving resins, pigments, and additives, improving coatings’ flow, adhesion, and drying characteristics. With the growth of the construction, automotive, and industrial sectors, the demand for paints and coatings has risen, driving the demand for n-propanol as a solvent.

Full Report: https://www.kbvresearch.com/propanol-market/

The Asia Pacific region dominated the Global Propanol Market by Region in 2023; thereby, achieving a market value of $2.4 billion by 2031. The North America region is poised to grow at a CAGR of 5.7% during (2024 - 2031). Additionally, The Europe market region would witness a CAGR of 5.9% during (2024 - 2031).

List of Key Companies Profiled

• Exxon Mobil Corporation
• Solvay SA
• BASF SE
• The Dow Chemical Company
• Sasol Limited
• Eastman Chemical Company
• Tokuyama Corporation
• Mitsui Chemicals, Inc.
• Shell plc
• Huntsman Corporation

Propanol Market Report Segmentation

By Type (Volume, Kilo Tonnes, USD Billion, 2020-2031)

• Isopropanol
  • Direct Solvent
  • Chemical Intermediate
  • Pharmaceuticals
  • Household & Personal Care
  • Other Isopropanol Applications
• n-propanol
  • Chemical Intermediate
  • Direct Solvent
  • Other n-propanol Applications

By Geography (Volume, Kilo Tonnes, USD Billion, 2020-2031)

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
• LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Related Reports:

LAMEA Propanol Market Size & Analysis Report to 2031

• October-2024
• 149 Pages

Europe Propanol Market Size, Share | Trend Report 2031

• October-2024
• 149 Pages

North America Propanol Market Size, Share | Analysis 2031

• October-2024
• 131 Pages

Asia Pacific Propanol Market Size, Share Report 2031

• October-2024
• 151 Pages