The North America Propanol Market is expected to witness market growth of 5.7% CAGR during the forecast period (2024-2031). In the year 2020, the North America market's volume surged to 576.36 kilo tonnes, showcasing a growth of 18.0% (2020-2023).
The US market dominated the North America Propanol Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of USD1.17 billion by 2031. The Canada market is exhibiting a CAGR of 7.7% during 2024-2031. Additionally, the Mexico market would experience a CAGR of 7% during 2024-2031.
Propanol, also called n-propanol or 1-propanol, has various uses in various sectors because of its adaptable chemical characteristics. For example, propanol is a crucial solvent in formulating paints, varnishes, and coatings. Its ability to dissolve resins, pigments, and other additives makes it indispensable in these applications. Propanol-based paints and coatings are known for their fast-drying times, excellent flow properties, and durability, making them ideal for use in automotive, architectural, and industrial coatings.
Likewise, propanol plays a vital role in manufacturing adhesives, sealants, and bonding agents. It acts as a solvent for dissolving polymers and other adhesive components, facilitating the formulation of adhesives with desired viscosity, tackiness, and bonding strength. Propanol-based adhesives are used in various industries, including construction, automotive, and electronics, for bonding substrates such as metals, plastics, and composites.
The expansion of local manufacturing capabilities for personal care products in Mexico has resulted in greater consumption of propanol. Increased production facilities require reliable sources of propanol, boosting demand from domestic suppliers. The growing consumer preference for natural and organic personal care products has influenced manufacturers to seek safe and effective solvents. Propanol’s potential for safe formulation aligns with these trends, further driving its demand in the personal care sector.
The International Trade Administration (ITA) states that Mexico is a significant regional producer of personal hygiene goods. Mexico exported USD 2.2 billion of cosmetics and personal hygiene items in 2022. The top three destinations for these exports were the United States at over 55% and the rest to Central and South America. The growth of the personal care products industry in Mexico has led to a heightened demand for various ingredients, including propanol. This solvent is widely used in formulations for cosmetics, skincare, and hygiene products, thus driving its market growth. Hence, the expansion of the cosmetics and personal care industry is propelling the market’s growth.
The US market dominated the North America Propanol Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of USD1.17 billion by 2031. The Canada market is exhibiting a CAGR of 7.7% during 2024-2031. Additionally, the Mexico market would experience a CAGR of 7% during 2024-2031.
Propanol, also called n-propanol or 1-propanol, has various uses in various sectors because of its adaptable chemical characteristics. For example, propanol is a crucial solvent in formulating paints, varnishes, and coatings. Its ability to dissolve resins, pigments, and other additives makes it indispensable in these applications. Propanol-based paints and coatings are known for their fast-drying times, excellent flow properties, and durability, making them ideal for use in automotive, architectural, and industrial coatings.
Likewise, propanol plays a vital role in manufacturing adhesives, sealants, and bonding agents. It acts as a solvent for dissolving polymers and other adhesive components, facilitating the formulation of adhesives with desired viscosity, tackiness, and bonding strength. Propanol-based adhesives are used in various industries, including construction, automotive, and electronics, for bonding substrates such as metals, plastics, and composites.
The expansion of local manufacturing capabilities for personal care products in Mexico has resulted in greater consumption of propanol. Increased production facilities require reliable sources of propanol, boosting demand from domestic suppliers. The growing consumer preference for natural and organic personal care products has influenced manufacturers to seek safe and effective solvents. Propanol’s potential for safe formulation aligns with these trends, further driving its demand in the personal care sector.
The International Trade Administration (ITA) states that Mexico is a significant regional producer of personal hygiene goods. Mexico exported USD 2.2 billion of cosmetics and personal hygiene items in 2022. The top three destinations for these exports were the United States at over 55% and the rest to Central and South America. The growth of the personal care products industry in Mexico has led to a heightened demand for various ingredients, including propanol. This solvent is widely used in formulations for cosmetics, skincare, and hygiene products, thus driving its market growth. Hence, the expansion of the cosmetics and personal care industry is propelling 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
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. North America Propanol Market by Type
Chapter 5. North America Propanol Market by Country
Chapter 6. Company Profiles
Companies Mentioned
Some of the key companies in the North America 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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