N-Propanol Market Updates

Global N-Propanol Market size was valued at USD 1.5 billion in 2023 and is poised to grow from USD 1.56 billion in 2024 to USD 2.19 billion by 2032, growing at a CAGR of 4.3% during the forecast period (2025-2032).

The global N-propanol market is highly competitive. As a result, the global N-propanol market has been witnessing the constant entry of new players over the years. In order to sustain the highly competitive environment, existing players differentiate themselves through innovation, quality, and technology. Companies are focusing on mergers and acquisitions and partnerships, collaborations to survive in the competitive environment. 'BASF SE (Germany) ', 'Dow Inc. (USA) ', 'ExxonMobil Corporation (USA) ', 'Sasol Limited (South Africa) ', 'Eastman Chemical Company (USA) ', 'LG Chem Ltd. (South Korea) ', 'Tokuyama Corporation (Japan) ', 'Ineos Group Holdings S.A. (UK) ', 'LyondellBasell Industries N.V. (Netherlands) ', 'Formosa Plastics Corporation (Taiwan) ', 'Celanese Corporation (USA) ', 'Deepak Fertilisers and Petrochemicals Corporation Ltd. (India) ', 'Nanjing Wujiang Chemical Co., Ltd. (China) ', 'China Petroleum & Chemical Corporation (Sinopec) (China) ', 'PetroChina Company Limited (China) ', 'Shell plc (UK) ', 'Lotte Chemical Corporation (South Korea) ', 'Mitsui Chemicals, Inc. (Japan) ', 'Braskem S.A. (Brazil)'

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.

Due to their ability to mix with various solids, liquids, and gases, solvents are utilized in a variety of industrial processes. Solvents containing propane are frequently utilized in sectors like paint, adhesives, and pharmaceuticals. The world's developing nations are rapidly industrializing, which will offer plenty of room for expansion for propanol producers in the years to come. The propanol market in emerging nations will grow as a result of rising adhesive, paint, pharmaceutical, and other product consumption brought on by developments in the construction, automotive, healthcare, and other industries.

Asia Pacific held the global n-propanol market share in 2021. The Asia Pacific market will grow as a result of the rising urbanization and industrialization in China, India, and South Korea. The region's market is anticipated to benefit from the significant investment made in the construction sector. The market in Asia Pacific will benefit greatly from the rising automobile industry. During the projection period, North America is anticipated to grow quickly. The expansion is due to the region's presence of manufacturing facilities. The region's expansion will be aided by the rising end-user demand and the booming paints and coatings sector. The strong demand from the specialty chemical sector will help to increase the market share of n-propanol in North America.