Propanol Market Report 2025

The propanol market size has grown strongly in recent years. It will grow from $3.83 billion in 2024 to $4.02 billion in 2025 at a compound annual growth rate (CAGR) of 5%. The growth in the historic period can be attributed to industrial solvent demand, paints and coatings industry growth, pharmaceutical manufacturing, consumer product formulations, surface coating for electronics, printing and packaging industry.

The propanol market size is expected to see strong growth in the next few years. It will grow to $5.05 billion in 2029 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to pharmaceutical API manufacturing, environmentally friendly formulations, emerging biotechnology applications, focus on green chemistry, increasing use in personal care products, shift towards waterborne coatings. Major trends in the forecast period include technological advancements in production processes, rising demand for disinfectants and sanitizers, shift towards bio-based propanol, capacity expansions by key manufacturers, strategic collaborations and partnerships.

The increasing demand for pharmaceuticals is anticipated to drive the growth of the propanol market in the future. Factors contributing to this demand include an aging global population, a rising prevalence of chronic diseases, and improved healthcare access in developing regions. In the pharmaceutical industry, propanol serves as a solvent in the production of various medications, facilitating the dissolution of active ingredients and ensuring the appropriate consistency in liquid formulations. For example, in August 2024, the Government of Canada reported that domestic exports in the pharmaceutical trade rose from 10.71 billion to 12.79 billion Canadian dollars between 2021 and 2022, while imports increased from 26.63 billion to 30.21 billion dollars during the same period. This indicates growth in both exports and imports, highlighting an expanding pharmaceutical trade sector. Therefore, the growing demand for pharmaceuticals is propelling the propanol market forward.

The increasing demand within the personal care industry stands as a significant driver fueling the growth of the Propanol market. Propanol, valued for its diverse applications, plays a pivotal role across various industries due to its efficacy as a solvent, disinfectant, and intermediary in chemical processes. Its versatility contributes to heightened demand, particularly in the personal care sector, where isopropanol finds application in compliance with safety regulations and standards. Within cosmetics, it is utilized in concentrations deemed safe for human skin and health, emphasizing the importance of proper formulation and regulatory adherence to ensure the safety and efficacy of products containing propanol. For instance, as per statistics published by Euromonitor International in April 2023 and sourced from the official website of the International Trade Administration, U.S. Department of Commerce, China witnessed a notable surge in beauty and personal care sales, reaching $88 billion in 2021 - a marked 10% increase from the previous year. Hence, the mounting demand emanating from the personal care industry is anticipated to propel the growth trajectory of the Propanol market.

Major companies operating in the propanol market are increasingly engaging in strategic partnerships and collaborations to maintain and enhance their market positions. These alliances drive innovation, expand production capabilities, and provide access to new markets, thereby supporting overall market growth. 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 strategic partnership to offer renewable propane and other sustainable fuels through both established and emerging distribution channels. This collaboration focuses on advancing LanzaTech's synthetic biology platform and CCT technology, which converts waste carbon into sustainable fuels and various materials, including fabrics and packaging. Such partnerships exemplify the industry's commitment to sustainability and innovation in propanol production.

Major companies operating in the propanol market are focusing on the development of newly advanced long-acting capsules, to strengthen their position in the market. Long-Acting Capsules are used to describe a type of medication that is designed to release its active ingredient over an extended period of time, typically over several hours or days. For instance, in August 2023, Lupin Limited, an India-based pharmaceutical company, launched Propranolol LA (long-acting) capsules with composition of 60 mg, 80 mg, 120 mg and 160 mg, in Canada. Propranolol LA is the generic version of Inderal LA, and it has been a successful therapy option for patients and healthcare practitioners since the discontinuance of Inderal LA. The introduction of Propranolol LA meets the needs of Canadian patients, underscoring Lupin's commitment to improving healthcare access and cost.

In August 2023, Star Group, L.P., a US-based home energy distributor and services provider, completed the acquisition of a privately held propane company in Long Island for approximately $18.4 million. The acquisition made by Star Group may have been made for similar reasons, such as expanding its footprint in the Long Island area or increasing its propane operations. Long Island Propane Inc. is a US-based family-owned and operated propane delivery company. They offer propane delivery for home heating, gas cooking, pool heaters, and more.

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.

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. The countries covered in the propanol market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Propanol, a colorless liquid, possesses high miscibility with diverse solvents such as ketones, aldehydes, alcohols, glycols, aliphatic hydrocarbons, and ethers. Widely utilized as a solvent across various industries, its effectiveness stems from both its high flammability and its ability to blend well with human body compounds.

There are two primary types of propanol are iso-propanol and n-propanol. Iso-propanol, also known as rubbing alcohol, is a volatile and flammable alcohol (C3H8O) primarily used as a solvent. It is available in various grades including technical, pharmaceutical, cosmetic, and electronic grades. Iso-propanol finds applications across diverse sectors such as pharmaceuticals, chemicals, personal care products, printing inks, paints and coatings, and other related industries.

The propanol market research report is one of a series of new reports that provides propanol market statistics, including propanol industry global market size, regional shares, competitors with a propanol market share, detailed propanol market segments, market trends, and opportunities, and any further data you may need to thrive in the propanol industry. This propanol market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The propanol market consists of sales of propan-1-ol and propan-2-ol. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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