Propanol Market: An Overview
The global propanol market was valued at USD 4.21 billion in 2019 and is expected to reach USD 6.96 billion by 2027, with a CAGR of 6.5 percent. Propanol is a commonly available colourless type of alcohol comprising major isomers: isopropanol and n-propanol or 1-propanol. In several industrial applications, isopropanol and n-propanol are used as natural solvents. They are also used in the production of chemicals such as acetone, glycerol, isopropyl acetates, isopropyl amines, isopropyl esters and MIBK. n-Propanol is used in the coating industry as medium-volatile alcohol to speed up the drying process of electro-deposition paints, alkyd resins and baking finishes. n-Propanol is used as one of the main raw materials in the cosmetics industry as it can limit the foaming propensity of finished products and decrease the thickness of liquids.
Propanol Market: Key Players
- Royal Dutch Shell Plc.
- The Dow Chemical Company
- Eastman Chemical Company
- Tokuyama Corporation
- LCY Chemical Corp.
- Central Drug House
- Ridhdhi Sidhdhi Chemicals
- Sasol Limited
- Solventis
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Augmented demand for household and personal care products, as well as pharmaceutical industry expansion, has driven the growth of the propanol market. Population expansion and better health awareness are factors that boost the pharmaceutical and cosmetic markets and therefore stimulate the n-propanol market. Increased demand for paints and coatings due to the growing automotive and construction industries will also add to the stimulus.
Propyl alcohol is extensively used as a solvent and cleaning fluid for dissolving oils, and includes cleaning eyeglasses, magnetic tape, contact pins on ROM cartridges, disc heads, disc drives, laser lenses on optical disc drives, CD, DVD and thermal paste removal from heatsinks and IC packs. The market for propyl alcohol will grow in the coming years due to the compound’s wide applications in the chemical and solvent industries and the increasing technological advances in the application industries. Stringent rules and regulations and an increase in emphasis on green solvents due to high VOC emissions are factors that may affect the propanol market.
Propanol Market: Segmentation
For the purpose of this report, Reports and Data has segmented Propanol Market on the basis of Types, End-use and region:
By Type (Volume, Kilo Tons; Revenue, USD Million; 2017–2027)
- Isopropanol
- N-Propanol
By Application (Volume, Kilo Tons; Revenue, USD Million; 2017–2027)
- Pharmaceutical
- Chemical
- Paint and coating
- Household and personal health care
- other
Regional Outlook (Volume, Kilo Tons; Revenue in USD Million; 2017–2027)
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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Asia Pacific has held a dominant market share of 39.5 percent and will continue to record the fastest growth over the forecast period due to rising demand for propanol in developing economies such as India, Indonesia and China. Due to changing lifestyles and growing population in this region, cosmetic, pharmaceutical, and coating industries are also exponentially expanding leading these countries to generate enormous demand for propanol. Over the forecast period, owing to the increasing development activities of the country, China is projected to generate significant demand. The rise in the region's construction and automotive industries will also boost the market over the forecast period.
The market is expected to grow in Europe with a CAGR of 4 percent, followed by North America with a CAGR of 3.9 percent. The key factors for the growth of the North American n-propanol market are the growing applications in drug production and rubbing alcohol. In Europe, Germany and France will register increased demand for propyl alcohol products owing to increasing use of the compound in the solvent industry.
Further key findings from the report suggest
- The market is anticipated to grow at a CAGR of 4.1% in the Asia-Pacific, followed by Europe and North America, with 4% and 3.9% CAGR, respectively. Growing applications in the pharmaceutical industry as in drug production and rubbing alcohol and increasing is the major factor for the growth of the North America propanol market. In Europe, Germany and France are expected to face increased demand for products due to increasing recognition in the solvent industry in the coming years.
- The highest market share of 39.5% among other regions is of the Asia-pacific region. It is due to an increase in population and awareness for health consciousness, use of cosmetics. It is accounted for the market value of USD 1,206.43 million in 2018.
- The household and personal care application segment is growing significantly at a CAGR of 4.2%, which is highest among other applications. Increase in disposable income shifting lifestyle toward health consciousness are the factors that help is the growth of the personal care and cosmetic market…Continued
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The global compressor oil market is expected to reach USD 14.74 Billion by 2026, according to a new report by Reports and Data.
The thermal stability and oxidation resistance of this oil aids in maintaining cleaner compressors, thus permitting more extended running periods between scheduled maintenance and oil changes.The increasing application of compressors, and hence, compressor oil in the manufacturing sector is estimated to stimulate market demand in the forecast period.
The rapid growth of industrialization and positive economic trends across the globe, especially in the Asia Pacific region will escalate the manufacturing activities in the upcoming years.
Currently, China leads the global manufacturing output owing to supportive government policies, foreign investments and easy availability of cheap labor.Key participants include :- Royal Dutch Shell PLC, ExxonMobil PLC, British Petroleum PLC, Chevron Corporation, BASF SE, Sasol Limited, Croda International PLC, The Dow Chemical Co., Total SA, and Sinopec Corp., among others.Get a Sample Copy of the Compressor Oil Market Report @ https://www.reportsanddata.com/sample-enquiry-form/1771 The increasing application of compressors, and hence, compressor oil in the manufacturing sector is estimated to stimulate market demand in the forecast period.
Currently, China leads the global manufacturing output owing to supportive government policies, foreign investments and easy availability of cheap labor.For the purpose of this report, Reports and Data have segmented the global Compressor Oil market according to Product, Component, Application, End-user, and Region:Compressor Type Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)Positive Displacement TypeReciprocating TypeRotary Screw TypeOthersRoto-Dynamic TypeRadial Flow TypeAxial Flow TypeBase Oil Type Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)Synthetic OilMineral OilBio-Based OilIndustry Vertical Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)ManufacturingOil & GasAutomotiveConstructionPower GenerationOthersRegional Outlook (Revenue in USD Million; 2020–2026)North America (United States, Canada and Mexico)Europe (Germany, France, UK, Russia and Italy)Asia-Pacific (China, Japan, Korea, India and Southeast Asia)South America (Brazil, Argentina, Colombia)For Discount on Compressor Oil Market Report before purchase, visit here @ https://www.reportsanddata.com/discount-enquiry-form/1771Further key findings from the report suggestBy compressor type, positive displacement types held a substantial share of the market in 2018.
In positive displacement type compressors, compression is done by trapping a refrigerant vapor into a sealed-off space and then reducing its volume.
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