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Propanol Market Demand, Business Growth, Industry Trends And High CAGR Value Of Nearly 5% During The Forecast Period 2023-2032:The Dow Chemical Company, BASF SE, Royal Dutch Shell Plc, Eastman Chemical Company
Propanol Market
The Business Research Company's Propanol Global Market Report 2023 identifies the increase in demand for paint and coatings as the major driver for the propanol market's growth in the forecast period. Paint is described as a dispersion or mixture of opaque pigments or granules in a liquid or medium. Coatings refer to varnishes and inorganic binders, which are used similarly to paints. In the coating industry, propanol is used in the form of semi-volatile alcohol to increase drying qualities, such as in the manufacturing of alkyd resin paints, baked finishes, and electrodeposition paints, and is also employed as a deicing fluid, as an extracting agent, and as an entertainer in azeotropic distillations. For instance, in May 2021, according to the American Coatings Association, a US-based non-profit organization, by exporting goods valued at over $2.2 billion and creating a sizable trade surplus of $1.3 billion, the coatings business also makes a considerable contribution to the American economy.
The global propanol market size is expected to grow from $3.49 billion in 2022 to $3.67 billion in 2023 at a compound annual growth rate (CAGR) of 5.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The propanol market size is expected to grow to $4.43 billion in 2027 at a CAGR of 4.8%.
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Major competitors in the propanol market are The Dow Chemical Company, BASF SE, Royal Dutch Shell Plc, Eastman Chemical Company, Mitsui Chemicals Inc., Oxea GMBH, Deepak Fertilizers and Petroleum Corporation Limited, Tokuyama Corporation, Sasol Limited, ExxonMobil Chemical Company, Nanjing Wujiang Chemical Company Limited.
A key trend in the propanol market includes strategic partnership and collaborations. Major companies operating in the propanol market are focused on undergoing strategic partnerships and collaboration to sustain their market position. For instance, in March 2022, SHV Energy, a Netherlands-based distributor of off-grid energy, and LanzaTech, a US-based chemical manufacturing company, announced a new strategic partnership to offer renewable propane and other sustainable fuels through both tried-and-true and new distribution channels. The partnership will be focused on developing LanzaTech's current synthetic biology platform and CCT technology, which converts waste carbon into sustainable fuels and other materials like fabrics, packaging, and other products.
Read More On The Global Propanol Market Report Here:
https://www.thebusinessresearchcompany.com/report/propanol-global-market-report
The Propanol market is segmented -
• By Type: Iso-Propanol, N-Propanol
• By Grade: Technical Grade, Pharmaceutical Grade, Cosmetic Grade, Electronic Grade
• By End User: Pharmaceuticals, Chemicals, Personal Care, Printing Inks, Paints and Coatings, Other End Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the propanol market.
The Business Research Company's "Global Propanol Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Propanol Market Include:
1. Executive Summary
2. Propanol Market Characteristics
3. Propanol Market Trends And Strategies
4. Propanol Market - Macro Economic Scenario
5. Propanol Market Size And Growth
……………
27. Propanol Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Propanol Market
29. Propanol Market Future Outlook And Potential Analysis
30. Appendix
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