N-Propanol Market by Size, Share, Demand & Trends by 2032

-

According to Future Market Insights, the global n-propanol market is expected to grow from US$ 308.6 Mn in 2022 to US$ 420.6 Mn by 2032, with overall demand surging at 3.1% CAGR throughout the forecast period. Rising demand for paints, coatings, pharmaceuticals, etc. across the world is a key factor expected to drive the global market for n-propanol during the forecast period.

In recent years, end-use industries for n-propanol, including coating, food, and beverages, cosmetics, automotive, pharmaceutical, and construction have been growing at a global level. Most of these industries utilize n-propanol for various applications. Thus, expansion of these industries across the globe, especially in developing nations such as China and India, will play a crucial role in driving the global n-propanol market during the forecast period.

Similarly, growing demand for alternative fuels to conventional ones is expected to boost sales of n-propanol during the projection period. As renewable transportation fuels, liquid multi-carbon alcohols like n-propanol are a desirable option. They are simple to carry across large distances, have great energy densities, and can be used directly in place of conventional internal combustion engines. It is desirable to have engineering catalysts that prefer high-value alcohols.

In addition, increasing investment flow in this space and a rise in drug approvals by regulatory bodies are expected to fuel the drug manufacturing procedures, which in turn will positively impact the global n-propanol market.

Get a Sample Copy of the Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-15821

Despite several promising growth potentials, the market is currently facing several difficulties which are anticipated to limit the growth potential. Environmental regulations, particularly in the chemical sector, are becoming stricter when it comes to the usage of chemically treated products that are also linked to the development of risks when used close to people. This might serve as a barrier for the global market during the forecast period.

“Consistently growing demand from end-use industries, particularly coatings, chemicals, and pharmaceuticals is expected to drive the global n-propanol market swiftly over the next ten years,” says a lead analyst at FMI.

Key Takeaways from N-Propanol Market Study

  • The global n-propanol market is estimated to expand at 1% CAGR on a value basis through 2032.
  • By application, solvents segment is estimated to create an incremental $ opportunity of about US$ 60.5 Mn during the forecast period (2022-2032).
  • Based on end use, pharmaceuticals and coatings segments will generate maximum revenues throughout the forecast period.
  • North America and Europe are expected to collectively hold around 8% of the overall market share.
  • The U.S. is a prominent importer of n-propanol with an estimated import volume of 35,146.5 tons of n-propyl alcohol.
  • Demand for n-propanol across China is expected to grow at a steady pace over the next ten years.

Who is Winning?

The n-propanol market is highly consolidated in which key players are expected to account for a major share of the market. Some of the top manufacturers include 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., and Hefei TNJ Chemical Industry Co., Ltd.

Key players are focusing on increasing their production capacity to expand their footprint all over the globe and to gain traction in the market. Further certain key players are focusing on investing in n-propanol production owing to a significant increase in the demand from the coating industry.

For instance, On July 29, 2021, BASF SE announced a joint R&D initiative with Eni to reduce the CO2 footprint of the transportation sector. The companies collaborated to develop sustainable technology to produce bio-propanol from industrial residues.

N-Propanol  Market Segmentation

By Application:

  • Solvents
  • Chemical Intermediates
  • Entrainer
  • Deicing Fluids
  • Others

By End Use:

  • Pharmaceuticals
  • Household & Personal Care Products
  • Chemical Production
  • Coatings
  • Anti-freeze
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa

Reports: https://www.futuremarketinsights.com/reports/n-propanol-market

Comments

Post a Comment

Popular posts from this blog

Thionyl Chloride Market Size, Share, Revenue Demand & Growth by 2034

-
Heightening concerns related to water treatment are likely to further fuel its growth engine in the near term. According to the latest report by FMI, the global  thionyl chloride market  is expected to reach a valuation of US$ 829.9 million by 2034. The industry is expected to experience revenue growth at a moderate CAGR of 4.8% during the forecast period. Thionyl chloride is used in various end-use industries such as agrochemicals, pharmaceuticals, dyes & pigments, and organic synthesis. The rising adoption of pesticides in developing countries and developments in the pharmaceutical industry are expected to drive the growth of the thionyl chloride market over the forecast period. However, a majority of end users of thionyl chloride are facing a massive slowdown due to the coronavirus (COVID-19) pandemic. This is substantially widening the supply-demand gap, and, as such, straining the revenue pool of the thionyl chloride market. Further, China – the epicenter of the ...
Read more

Bonded Magnet Market Size, Share, Revenue Demand & Growth by 2034

-
  The  bonded magnet market size  is projected to be around US$ 2,597.40 million in 2024. The demand for bonded magnets is anticipated to expand at a CAGR of 4.80% through 2034. The industry is projected to surpass US$ 4,150.99 million by 2034. The bonded magnet industry is primarily driven by the increasing demand for miniaturization and lightweight components in various applications such as automotive, consumer electronics, and medical devices. The rising focus on sustainability and environmental concerns has propelled the adoption of bonded magnets, which are manufactured using environmentally friendly processes and materials. One of the latest trends in the bonded magnet industry is the development of hybrid magnet systems combining bonded magnets with other materials like plastics or composites. These hybrid systems offer unique properties and performance characteristics, catering to specific application requirements such as weight reduction or thermal stability. ...
Read more

Construction Chemicals Market Potential Growth, Size, Share, Demand And Analysis Of Key Players – Research Forecasts To 2031

-
 The essential nature of construction chemicals in the construction and engineering sector is expected to support market growth for the duration of the assessment period from 2021 to 2031. In a new market report, Future Market Insights (FMI) has stated the valuation of the market at US$ 39 Bn in 2020.  Construction chemicals  play critical roles in construction projects including coatings, additives, sealants and more. Affordable housing and smart city projects are major influencers of demand. Strong demand for concrete admixtures, plasticizers in particular is driving the growth of the construction chemicals market. The high degree of workability in areas requiring high levels of reinforcement in high rise buildings and public infrastructure projects will support sales prospects in the coming years. The Asia Pacific excluding Japan region is expected to remain dominant. Major urbanization projects and substantial manufacturing facilities in China are likely to aid ex...
Read more