The Asia Pacific Propanol Market is expected to witness market growth of 6.7% CAGR during the forecast period (2024-2031). In the year 2022, the Asia Pacific market's volume surged to 1,149.29 kilo tonnes, showcasing a growth of 18.9% (2020-2023).
The China market dominated the Asia Pacific Propanol Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of USD682 million by 2031. The Japan market is registering a CAGR of 6.2% during 2024-2031. Additionally, the India market would capture a CAGR of 7.5% during 2024-2031.
The adoption of propanol has been steadily increasing across various industries, driven by its unique chemical properties, reliability, and versatility. For instance, propanol is valued for its effectiveness as a solvent and cleaner in numerous industrial processes. Its ability to dissolve many substances, including oils, greases, resins, and pigments, makes it highly versatile for diverse applications. Propanol-based solutions offer efficient cleaning, degreasing, and solvent capabilities, improving manufacturing processes and product quality in the automotive, electronics, and printing industries.
Furthermore, propanol offers several performance benefits contributing to its widespread adoption in various industrial applications. In the automotive industry, propanol-based coatings and adhesives provide excellent adhesion, corrosion resistance, and durability, enhancing vehicle longevity and performance. Similarly, propanol’s antimicrobial properties ensure the efficacy of disinfectants and antiseptics in the pharmaceutical and personal care sectors, making it an indispensable ingredient in healthcare products.
The rising chemical sector has attracted foreign investment and collaboration with global chemical companies. These partnerships can lead to the transfer of technology and practices that enhance the production and utilization of propanol. The Indian chemical industry is focusing on adhering to safety and environmental regulations, prompting manufacturers to choose compliant solvents like propanol. This trend fosters a safer manufacturing environment and supports the growth of the propanol market. Thus, the expansion of the chemical sector is driving the market’s growth.
The China market dominated the Asia Pacific Propanol Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of USD682 million by 2031. The Japan market is registering a CAGR of 6.2% during 2024-2031. Additionally, the India market would capture a CAGR of 7.5% during 2024-2031.
The adoption of propanol has been steadily increasing across various industries, driven by its unique chemical properties, reliability, and versatility. For instance, propanol is valued for its effectiveness as a solvent and cleaner in numerous industrial processes. Its ability to dissolve many substances, including oils, greases, resins, and pigments, makes it highly versatile for diverse applications. Propanol-based solutions offer efficient cleaning, degreasing, and solvent capabilities, improving manufacturing processes and product quality in the automotive, electronics, and printing industries.
Furthermore, propanol offers several performance benefits contributing to its widespread adoption in various industrial applications. In the automotive industry, propanol-based coatings and adhesives provide excellent adhesion, corrosion resistance, and durability, enhancing vehicle longevity and performance. Similarly, propanol’s antimicrobial properties ensure the efficacy of disinfectants and antiseptics in the pharmaceutical and personal care sectors, making it an indispensable ingredient in healthcare products.
The rising chemical sector has attracted foreign investment and collaboration with global chemical companies. These partnerships can lead to the transfer of technology and practices that enhance the production and utilization of propanol. The Indian chemical industry is focusing on adhering to safety and environmental regulations, prompting manufacturers to choose compliant solvents like propanol. This trend fosters a safer manufacturing environment and supports the growth of the propanol market. Thus, the expansion of the chemical sector is driving the market’s growth.
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
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 Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Asia Pacific Propanol Market by Type
Chapter 5. Asia Pacific Propanol Market by Country
Chapter 6. Company Profiles
Companies Mentioned
Some of the key companies in the Asia-Pacific Propanol Market include:- 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
Methodology
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