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N-propanol market 2030 In the years between 2022 and 2030, compound annual growth (CAGR) is predicted to be 4.24 percent.


Torrance, California, USA -As per MarkWide Research’s latest study, N-propanol market In the years between 2022 and 2030, compound annual growth (CAGR) is predicted to be 4.24 percent.

N-propanol (also known as 1-propanol, n-propanol alcohol, propan-1-ol, propyl alcohol) is one of the primary alcohols in which the H-atom is bonded to the carbon atom of a primary atom of a molecule. There are two isomers of propanol, one of which is N-propanol and the other is 2-propanol. It is an odorless, colorless, clear liquid that has a sharp note that is comparable to rubbing alcohol’s aroma, which is characterized by a sharp musty smell.

This formulation of 1-propanol is commonly used as a solvent not only in the manufacture of pharmaceuticals, cosmetics, coatings and consumer goods but as well as a chemical intermediate in a wide range of other applications. It is freely miscible with water and freely miscible with all common solvents, including glycols, ketones, alcohols, aldehydes and ethers.

KEY MARKET INSIGHTS

  • Building & construction and automotive industries are driving the growth of the paints & coatings market as they have increasing demand for paints & coatings.
  • Due to the rapid industrialization and urbanization activities taking place in emerging economies, it has been forecast that the consumption of alcohol will grow rapidly in the coming years. 
  • Further driving the market growth will be the fact that the food and cosmetic industries are increasingly incorporating n-propanol alcohol into their flavoring and fragrance formulations. 
  • For the flavoring and fragrance of products such as beer, and perfumes, n-propyl alcohol is commonly used. There will be a decrease in the growth of the market due to the high emission levels of volatile organic compounds and the environmental hazards associated with them.
  • During the COVID-19 outbreak, the demand for the product in the auto and building & construction sectors declined; however, a surge in demand from pharmaceutical companies subdued the negative effects of the pandemic on the market in the short term

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During the COVID-19 pandemic, N-Propanol’s antimicrobial properties will be crucial in stabilizing the market

The COVID-19 pandemic is estimated to have a significant effect on the market as a result of this pandemic. The pandemic resulted in the shutdown of manufacturing plants and supply chains in a hurry. Due to this situation, paints and coatings manufacturers were unable to obtain solvents for their manufacturing processes as a result. As a consequence of this, the paints and coatings industry’s growth has been affected by the decline in demand for automobiles. There has, however, been a slowdown in the impact of the COVID-19 pandemic on the market due to the rising demand for n-propyl alcohol, which is attributed to its antibacterial and antiseptic properties within the pharmaceutical industry. As a disinfectant for surgery, its use will also help slow down the COVID-19 effects on the market, as it will be able to minimize hospital-acquired infections (HAIs) as a result of its use.

DRIVING FACTORS

A positive impact on the market can be achieved by incorporating 1-propanol in the food and cosmetic industries

  • In the food industry, n-propyl alcohol has been approved as an additive to natural flavorings, adjuvants, and flavoring substances, according to the Food and Drug Administration (FDA). 
  • According to the Joint FAO/WHO Committee on the Use of Alcohol in the Food Industry, this type of alcohol may only be used as an extraction solvent, as a carrier solvent, and as a flavoring agent.
  • There exists a growing need for food grades of alcohol, which is why companies like Aurochemicals and Solventis are offering them. Consumers are becoming increasingly receptive to flavored food products, which will boost the demand for these products on the market. 
  • In the cosmetic industry, some types of propanol may be found in nail polish removers, toothpastes, dental lotions, and perfumes, as well as in nail polish remover remover. During the forecast period, the increasing awareness of beauty and cosmetic products among consumers will provide growth opportunities for the beauty and cosmetic industry.

Market growth is expected to be fueled by the increasing demand for paints and coatings

  • There has been a rapid expansion of the construction industry around the world in recent times. With the rapid growth of the population, coupled with an increase in disposable income, the construction industry has experienced a boom in terms of growth, which has fueled the demand for paints and coatings.
  • In the manufacture of paints and coatings, 1-Propanol is used as a solvent as a component. As the importance of protecting the structures from external factors such as corrosion and other environmental factors increases, there is growing demand for paints & coatings as a means of protecting the structures from external damage
  • Due to the development of the construction industry in these countries, the demand for paints and coatings is expected to rise, thereby driving the growth of the n-propanol market in these countries.

RESTRAINING FACTORS

Green Solvents to Impose Growth: Shifting Focus Toward Green Solvents

  • There are several factors that may negatively impact the market growth of the product, such as the high emitted volatile organic compounds (VOCs) and other environmental hazards that may be associated with it. 
  • There has been increasing evidence that excessive intake of alcohol can cause health effects such as loss of coordination, nausea, cancer, or damage to the central nervous system in humans due to its highly flammable nature. 
  • Due to the above-mentioned risks, many manufacturers of adhesives, paints & coatings, and cosmetics have switched over to green or bio-based solvents because of their safety concerns. 
  • There are major factors that have contributed to the decrease in the dependability of cosmetics manufacturers on petroleum-based solvents, such as the government’s increasing regulations on HAPS, SODCs, and VOCs in the environment and the unpredictable price of oil.

REPORT BENEFITS

  • This report analyzes the global n-propanol market in a detailed manner, providing a comprehensive view of the market.
  • A large part of the report is devoted to highlighting key aspects, such as profiles of key players in the market, product types and the leading applications of the product.
  • As a result, it provides a valuable insight into the current market trends as well as highlighting key industry developments in the industry.
  • This report also discusses a number of other factors that have contributed to the growth of the market over the past few years, in addition to several other factors.

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N-propanol market Major Players Covered:

  • BASF (Germany)
  • Dow (U.S.)
  • Eastman (U.S.)
  • Oxea (Germany)
  • Sasol (South Africa)
  • Wu Jiang Chemical (China)
  • Nanjing Rongxin Chemical (China)
  • Chang Chun Group (China)
  • Ningbo Juhua Chemical (China)
  • Zibo Nalcohol Chemical (China)
  • Other Players

N-propanol market Segmentation Analysis:

By Type
  • Ethylene Hydrogenation Method
  • Allyl Alcohol Hydrogenation Method
  • Other Compounds Byproduct Method
By Application
  • Coatings
  • Food Additive
  • Pharmaceutical
  • Cosmetics
  • Others

 

N-propanol market Geographical Segmentation Includes:

  • North America
  • Europe
  • Asia Pacific
  • South America
  • The Middle East & Africa

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