N-propanol or n-propyl alcohol is a straight chain three-carbon oxoalcohol. It is a colorless medium boiling liquid, which is widely used in flexo and other printing ink applicationsIt has a very mild ethanol-like odor and is completely soluble in water. It is generally used in organic synthesis, as a chemical intermediate and as a coating-solvent. Owing to its unique properties, N-propanol forms the basis of numerous chemicals that are used in the production of plastics and pharmaceuticals. N-propanol is used in various applications like solvent, pigment, printing, and packaging industry. It is a primary raw material in soaps, lacquer formulations, beauty products, hair shampoos, perfumes, and antifreeze. It is also used to produce coatings, pesticides, paints, ink, adhesives, insecticides, etc.
As per analysis, “Global
N-Propanol Market Report 2020 by Key Players, Types, Applications, Countries,
Market Size, Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread)”
the key companies operating in the global N-propanol market include Zibo
Nalcohol Chemical, BASF, Dairen Chemical, OXEA, Zibo Nalcohol Chemical,
Eastman, Wu Jiang Chemical, DOW and among others. Key market players are
adopting expansion and acquisition strategies to increase their market presence.
Players are also providing various grades compatible with the food &
pharmaceutical products. The companies are mainly looking to increase their
production capacity in different regions in order to meet the growing demand
and increase their market presence.
By type, N-propanol market can be segregated as Ethylene Hydrogenation method and other compounds byproduct method. Ethylene Hydrogenation method is a most efficient method as it offers higher output. The ethylene hydrogenation segment is anticipated to witness higher growth rate because of high efficiency in producing n-propanol during the forecast period. In addition, by application, market can be segregated as direct solvent, chemical intermediate and others.
Growth in construction industry, followed by increase in disposable
income, latest technological advancements, rise in demand from pharmaceutical
& beverage industries and growth in population are some major factors,
which are responsible for growth of the N-propanol market. Apart from this, high
volatile organic compound (VOC) emission and other environmental hazards
associated with product may impact the market.
Another important driver of the market is the rise in living standards
and the rapid development of infrastructure in developing countries such as
India and China. In addition, the outbreak of covid19 has increased the demand
for hand sanitizers with propanol as the main ingredient, and this growing
awareness of preventive health will drive market growth. However, the growing
preference for environmentally friendly solvents, volatile raw material prices,
and strict government policies regarding n-propanol storage can affect the
growth of your market.
Based on regional analysis, the Asia-Pacific is a leading region in
global N-propanol market owing to rapid industrialization & urbanization
and increase in consciousness toward beauty across the region. The Europe and
North-America regions are anticipated to witness higher growth rate due to
growth in adoption of alcohol for drug formulation by pharmaceutical
manufacturers, rise in demand from end-users coupled with presence of various
manufacturing facilities over the forecast period. It is projected that future
of the global N-propanol market will be bright on account of growth in consumption
of 1- propanol during the forecast period.
For More Information, Click on the
Link Below:-
Related Reports:-
Global
n-Propanol Market Outlook 2017-2022
Global
N-Propanol (NPA) Market Report 2019, Competitive Landscape, Trends and
Opportunities
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Ankur Gupta, Head Marketing & Communications
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