Product ID: SQSG15A2016
Global N-Propanol Market Size, Share, Growth Analysis, By Type(Ethylene Hydrogenation Method, Compounds By-Product Method), By Application(Agriculture, Personal Care) - Industry Forecast 2024-2031
Report ID:
SQSG15A2016 |
Region:
Global |
Published Date: April, 2024
Pages:
157
|
Tables:
65 |
Figures:
75
Global N-Propanol Market Dynamics
N-Propanol Market Driver
- Market expansion will be aided by booming demand from the paints and coatings sector. Due to the use of in building blocks, the market is anticipated to benefit from attractive prospects created by the rising construction sector. Global Construction Perspectives and Global Economics predict that by 2030, the value of construction output would increase by 85% to US$ 15.5 trillion globally, with China, the US, and India accounting for 57% of the expansion. Paints and coatings are made using n-propanol as a solvent. In the upcoming years, the market's expansion will be aided by the increased focus on protecting structural components from external harm like corrosion. Furthermore, the market's growth in the near future may be stimulated by the thriving pharmaceutical industry.
- N-propanol is used in the cosmetic industry. Due to its antibacterial and antiperspirant qualities, potash alum can be used as a deodorant. Additionally, N-propanol is utilized in the composition of numerous cosmetic goods, including face powders, moisturizers, skincare products, and cleansing products. Consequently, the cosmetics sector is boosting the demand for n-propanol.
N-Propanol Market Restraint
- Stringent environmental rules governing the handling and transportation of organic chemicals would restrain the expansion of the propanol industry. Additionally, the high combustibility of the raw materials places various limits on the global propanol market, which is also anticipated to restrain market expansion throughout the forecast period. Because of the fluctuating price of crude oil, rising raw material costs, particularly for acetone and propylene, are expected to impede demand over the projection period.
- Due to significant VOC emissions and other environmental problems connected with the use of petrochemical-based solvents, the market for propanol is being constrained by a shift in emphasis toward green solvents. Because of the environmental dangers connected with petroleum-based solvents, there has been an increase in the usage of replacements that use fewer amounts of petrochemical-based solvents, such as the use of water-based paints and coatings in construction applications rather than solvent-based paints and coatings. Water-based paints do not, however, offer the same level of finish as solvent-based paints do. By using bio & green solvents, which have the same properties as solvents derived from petrochemicals but don't include VOCs, this issue can be solved.
Global N-Propanol Market Report Snapshots
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