Global Propanol Market Expansion at 5.5% CAGR, Valued at $4.9 Billion by 2029

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What Are the Propanol Market Size Forecast for 2025?
In recent times, the propanol market has seen consistent expansion. The market worth is projected to increase from $3.83 billion in 2024 to $3.96 billion in 2025, representing a compound annual growth rate (CAGR) of 3.6%. Factors such as industrial solvent demand, growth in paints and coatings industry, advancements in pharmaceutical manufacturing, consumer product formulation enhancement, progress in surface coating for electronics, and the development of the printing and packaging industry are contributory to the growth witnessed during the historic period.

What Is the Market Size Outlook for Propanol Until 2029?
The propanol market is predicted to experience substantial growth in the coming years, reaching a value of $4.9 billion in 2029 at a 5.5% compound annual growth rate (CAGR). This growth during the forecast period is attributed to factors such as pharmaceutical API production, eco-friendly compounds, emerging uses in biotech, a focus on sustainable chemistry, increased usage in personal care items, and a move towards waterborne coatings. The forecast period is also expected to see key trends, including advancements in manufacturing processes, increased demand for cleaning and sanitizing products, a shift towards bio-based propanol, expansions in capacity by primary manufacturers, and strategic alliances and partnerships.

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What Are the Major Factors Driving Demand in the Propanol Market?
The propanol market is set to witness growth due to an increasing demand for pharmaceuticals. The need for pharmaceuticals escalates with the aging population, the prevalence of chronic diseases, and the expansion of healthcare services in emerging regions. Propanol serves as a beneficial ingredient in the pharmaceutical sector, often used as a solvent in the production of diverse medicines. It assists in the dissolution of active components and helps in maintaining uniformity in liquid formulations. As recorded by the Canada-based federal administration, the Government of Canada, in August 2024, there was a noticeable boost in domestic exports in the pharmaceutical sector, with the rates ramping up to 12.79 in 2022 from 10.71 in 2021. Concurrently, imports raised to 30.21 from 26.63 in 2021, proving an upward trajectory in both exports and imports, indicative of a thriving pharmaceutical trade. Therefore, the ascending demand for pharmaceuticals is fuelling the progress of the propanol market.

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How Are End-Use Segments Shaping the Propanol Market Outlook?
The propanol market covered in this report is segmented -

1) By Type: Iso-Propanol, N-propanol
2) By Grade: Technical Grade, Pharmaceutical Grade, Cosmetic Grade, Electronic Grade
3) By End User: Pharmaceuticals, Chemicals, Personal Care, Printing Inks, Paints And Coatings, Other End Users

Subsegments:
1) By Iso-Propanol (Isopropyl Alcohol): Industrial Grade, Pharmaceutical Grade, Cosmetic Grade
2) By N-Propanol (N-Propyl Alcohol): Industrial Grade, Pharmaceutical Grade

What Are the Strategic Trends Transforming the Propanol Market Landscape?
Firms playing a significant role in the propanol market are making significant efforts to maintain their market influence through strategic partnerships and collaborations. Such alliances foster innovation, boost production capabilities, and open doors to new markets, thereby driving overall market expansion. For example, in March 2022, SHV Energy, an off-grid energy distributor from the Netherlands, and LanzaTech, an American chemical manufacturer, introduced a strategic partnership geared towards providing renewable propane and other eco-friendly fuels via a mix of established and emerging distribution networks. This collaboration intends to enhance LanzaTech's existing synthetic biology platform and CCT technology, a resource that transforms waste carbon into green fuels and a variety of other materials such as fabrics, packaging, and different products.

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Who Are the Prominent Companies in the Propanol Market by ?
Major companies operating in the propanol market are The Dow Chemical Company, BASF SE, Deepak Fertilizers and Petroleum Corporation Limited, DuPont de Nemours Inc., Eastman Chemical Company, ExxonMobil Chemical Company, Honeywell International Inc., LyondellBasell Industries NV, Mitsui Chemicals Inc., Nanjing Wujiang Chemical Company Limited, Royal Dutch Shell PLC, Sasol Limited, Tokuyama Corporation, Ineos Group Holdings Limited, Arkema SA, Braskem SA, Celanese Corp., Chevron Phillips Chemical Company, Evonik Industries AG, Formosa Plastics Corporation, LG Chem Ltd., Lotte Chemical Corp., Merck Co. & KGaA, Perstorp Chemicals India Private Limited, PetroChina Co. Ltd., PTT Global Chemical Public Company Limited, Reliance Industries Ltd., Saudi Basic Industries Corporation, China Petroleum & Chemical Corporation, Solvay SA, Westlake Chemical Corp.

Which Region Is Expected to See the Highest CAGR in the Propanol Market?
Asia-Pacific was the largest region in the propanol market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the propanol market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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This release was published on openPR.