Austin, Feb. 14, 2025 (GLOBE NEWSWIRE) -- The propanol market was valued at USD 3.85 billion in 2023 and is projected to reach USD 6.34 billion by 2032, growing at a CAGR of 5.70% from 2024 to 2032. The major factor for the growth of the market is the decreasing demand for propanol from pharmaceutical formulations, coatings, and personal care products. In addition, growing regulatory support for bio-based propanol as a sustainable alternative is expected to open significant opportunities. Due to the growing demand in the market as well as the rise of industrial sectors being sustained by developing countries. Also, the market is available because of the change in customer preferences for environmentally friendly solvents high demand as well as their effectiveness in using low poisons.

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Key Players:

• ExxonMobil (Isopropyl Alcohol, Propyl Acetate)
• Shell Chemicals (Isopropanol, N-Propanol)
• Dow Inc. (Isopropyl Alcohol, Propanol PG)
• Sasol Limited (IPA 99, Propanol 2)
• BASF SE (Isopropanol, n-Propanol)
• Tokuyama Corporation (IPA Toku, Propanol-S)
• Eastman Chemical Company (Eastman Isopropanol, Eastman Propanol)
• Mitsui Chemicals Inc. (IPA Pure, PropyloChem)
• Solvay (Isopropanol 99, n-Propanol Ultra)
• KH Chemicals (Isopropyl Alcohol 70%, Propanol 1)
• LG Chem (Isopropanol LG, N-Propanol LG)
• LyondellBasell Industries (Isopropanol Pure, Propanol Plus)
• Honeywell International Inc. (IPA Tech, PropyloClean)
• Mitsubishi Chemical Corporation (Isopropyl Alcohol MC, Propanol MC)
• Royal Dutch DSM (Isopropanol Green, Propanol Bio)
• Zhejiang Xinhua Chemical Co., Ltd. (Isopropanol XH, Propanol XH)
• JXTG Holdings, Inc. (IPA Super, N-Propanol Premium)
• China National Petroleum Corporation (CNPC) (Isopropanol CN, Propanol CN)
• Celanese Corporation (IPA Industrial, Propanol HP)
• INEOS Group (Isopropanol Pure, Propanol IN)

Propanol Market Report Scope:

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By Application, Isopropanol Segment Held the Largest Market Share of Around 72% in 2023

It has numerous industrial applications, especially in solvents, disinfectants, and pharmaceuticals. Market growth is also propelled by rising demand for isopropanol-based hand sanitizers and surface disinfectants. The fact that it is extensively used in cosmetic, personal care and cleaning products also helps in maintaining its position. It is gaining its market leading position owing to the sheer rise in demand in pharma and healthcare sectors along with its low cost and accessibility in comparison with other available variants of propanol. In addition, the industrialization and manufacturing activities are increasing, which is further propelling the demand for isopropanol in many end-use industries.

Direct Solvent under the isopropanol segment is estimated to cover a large segment of the propanol market as it has varied applications and is versatile in various industries. In particular, isopropanol is a high embodiment solvent, dissolving many forms of fabric, low toxicity, and has an excessive evaporation rate. This lattice structure matters for the pharmaceutical and cosmetic industries because this is activated when we prepare drugs, sanitizers, and cosmetics. It serves as a cost-effective solvent for enhancing the finish and hardness of coatings within the paint and coatings industry.

Asia Pacific Held the Largest Market Share of Around 38% in 2023

Asia Pacific led the propanol market due to rapid industrialization, strong manufacturing activity, and increasing pharmaceutical production in countries such as China, India, and Japan. The region’s demand is driven by rising investments in healthcare, cosmetics, and chemical industries. Growing urbanization and infrastructure development in Asia Pacific are also fueling the demand for propanol-based coatings and adhesives. Government initiatives promoting eco-friendly and bio-based chemical production are further strengthening market growth in the region. Major manufacturers are expanding their production facilities in Asia Pacific to cater to the rising demand for high-purity propanol in industrial and pharmaceutical applications.

Recent Highlights

• In 2024, BASF SE announced the expansion of its propanol production capacity to meet the rising demand in pharmaceutical and industrial sectors, with a focus on high-purity applications.
• In 2024, Dow Inc. introduced a new line of sustainable, bio-based propanol solutions, designed to offer reduced environmental impact while maintaining superior solvent performance.

Table of Contents – Major Key Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

6. Competitive Landscape

7. Propanol Market Segmentation, By Application

8. Regional Analysis

9. Company Profiles

10. Use Cases and Best Practice

11. Conclusion

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