The global n-propanol market size is expected to reach USD 2,008.1 million by 2028, exhibiting a CAGR of 4.3% during the forecast period. The increasing application in the cosmetic industry will have a tremendous impact on the market growth during the forecast period, states Fortune Business Insights, in a report, titled “N-Propanol Market, 2021-2028.” The market size stood at USD 1,453.1 million in 2020.
The incorporation of 1-Propanol in cosmetic products and food additives for flavoring will drive the global market. The high adoption of propanol-based hand sanitizers amid coronavirus can enhance the development of the global market. The increased demand for n-propanol in the pharmaceutical industry will spur new market opportunities in the forthcoming years. However, the environmental risks associated with this primary alcohol are expected to retard the market's growth in the forthcoming years.
Oxea’s Increased Production of n-propanol in Europe to Bolster Growth
Oxea, the global leader in oxo intermediates and oxo derivatives, including alcohols, polyols, carboxylic acids, specialty esters, and amines, announced that it increased its delivery volumes in Europe due to heavy demand from hand sanitizer’s manufacturers. The surging demand from the printing industry has further urged the company to expand its manufacturing and production capacities. Oxea will increase its supply to the printing industry due to the need for printing inks and solvents in the packaging printing process. The robust growth is also attributed to the expanding disinfectant sector. Moreover, the knowledge about 1-Propanol’s effectiveness against viruses and bacteria will enable speedy expansion of the market during the global pandemic. In addition, the higher stability offered by n-propanol and n-propyl acetate against ethanol/ethyl acetate blend will boost its adoption in the printing operations, which, in turn, will uplift the n-propanol market share.
Inclination towards Green Alternatives to Dampen Growth
Environmental constraints regarding the use of n-propanol and high volatile organic compound (VOC) emissions are expected to hamper the growth of the market. It is highly flammable and can cause severe health effects, including nausea, cancer, or central nervous system damage, which, in turn, can inhibit market growth. The shift towards green or bio-based adhesives, paints & coatings, and cosmetics will further impede the market growth. The increasing emission regulations implemented by the government to reduce HAPs, ODCs, and VOCs will retard the development of the market. The growing adoption of green and bio-based alternatives for production by Dirk Rossmann GmbH, Revlon Inc., and Symrise AG will further restrict the global n-propanol market growth.
Information source: https://www.fortunebusinessinsights.com/n-propanol-market-105137
The global n-propanol Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the n-propanol market include BASF, Dow, Eastman, OXEA, Sasol, Wu Jiang Chemical, Zibo Nalcohol Chemical, DAIREN CHEMICAL, Ningbo Juhua Chemical, Zibo Nalcohol Chemical.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global n-propanol Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/n-propanol-market/download-sampleMarket DynamicsThe n-propanol market is steadily growing owing to its wide usage in solvent industry, rapid expansion of pharmaceutical industry, growth of end-use industries and the latest technological advancements.
Another key market driver is improving living standards and high infrastructural development in developing countries like China and India.
Furthermore, the covid-19 outbreak has increased the demand for hand sanitizers where propanol is a key ingredient, and this growing awareness towards preventive health will drive its market growth.
