Exploring the Propanol Market: Size, Share, Growth, and Future Prospects

 


Industry Analysis

According to the analysis by Data Bridge Market Research, the propanol market is expected to experience a Compound Annual Growth Rate (CAGR) of 4.0% during the forecast period of 2022-2029. The growth of the propanol market is attributed to its rising demand in the chemical and cosmetic industries. Additionally, the market for propanol is expanding due to its use as a solvent in the paint and coating industries.


Market Insights and Scope

Industrial propanol is a type of cleaning agent that is commonly utilized to eliminate various types of water-insoluble substances, such as dirt, wax, tar, oil, grease, paints, abrasive dust, and corrosive products. This cleaning agent not only protects machinery from corrosion, contamination, and damage but also extends their lifespan by removing stains from surfaces. To create a more efficient propanol, hydrocarbon solvents like gasoline, kerosene, xylene, and white spirit are utilized.

The market for industrial propanol is growing due to the presence of numerous manufacturing facilities and consistent growth in end-use industries. The rising demand for isopropyl alcohol, which is mostly utilized in the manufacturing of pharmaceutical and chemical intermediates, is driving the market. Isopropyl alcohol is primarily used as a solvent and for its antiseptic properties in pharmaceutical formulations. The n-propanol market is anticipated to grow steadily as it is mainly used as a solvent and in the production of specialty chemicals.


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