The global market for propanol features a
fragmented vendor landscape due to the presence of several small and
large companies in key regional markets, rendering it highly
competitive, observes Transparency Market Research in a recent
report. Focus on strategic collaborations, rising investment aimed at
the development of bio-based products, and geographical expansion
across high growth potential regional markets are some of the key
strategies adopted by companies to strengthen their hold on the
market.
Capacity expansion is another key growth strategy
adopted by companies in the market. An instance is Oxea’s new
propanol manufacturing unit in the Bay City, U.S. Construction of
this unit, which is expected to run on a capacity of 40,000 mt/year
of propionaldehyde and 100,000 mt/year of propanol, began in March
2017 and is expected to begin operating in 2018.
This 171 page report gives readers a
comprehensive overview of the Propanol market. Browse Market Research
Report @
Transparency Market Research estimates that the
global propanol market will exhibit a CAGR of 2.3% from 2017 to 2025,
rising from a valuation of US$2.19 bn in 2016 to US$2.68 bn by 2025.
propanol market
Iso-propanol to Continue to Remain Most
Consumed Type of Propanol Globally
In terms of type, the segment of iso-propanol
dominated the global propanol market in 2016, accounting for more
than 88% of the overall market in terms of revenue. The segment is
anticipated to retain its dominance over the forecast period, chiefly
owing to its usage in a wide range of applications. In terms of
geography the Asia Pacific propanol market held the dominant share of
nearly 45% of the global propanol market in terms of volume in 2016.
The region is likely to exhibit healthy growth over the forecast
period as well, with the vast rise in demand from cosmetics and
pharmaceuticals industries in the region acting as the key driving
force.
Thriving Cosmetics and Personal Care Industries
to Drive Demand
The vast usage of propanol in the cosmetics and
personal care industry is one of the key drivers of the global
propanol market. Propanol finds usage as a solvent, antifoaming
agent, viscosity decreasing agent, and fragrance ingredient in
cosmetics and personal care products. It is also widely used in a
variety of bath products, aftershave lotions, cleansing products, and
hair and skin care products. With the global cosmetics and personal
care products industry estimated to embark upon a healthy growth path
in the next few years, projected to exhibit a promising 5%
year-on-year growth over the next few years, the demand for propanol
is expected to witness healthy rise.
Changing lifestyles, vast rise in disposable
incomes, and increased awareness about used skincare products are
expected to remain the key forces driving the cosmetics and personal
care industries in the next few years. This is, in turn, expected to
present vast growth opportunities for the global propanol market
during the forecast period.
Fluctuating Raw Material Costs to Hamper Growth
Prospects
Of the key trends negatively impacting the overall
development of the global propanol market, the rising preference of
the cumene process for the production of acetone and the volatility
in prices of propylene are expected to have the most significant
impact. The production cost of acetone through the cumene process is
lower than that of production from propanol, as it is coproduced with
phenol. Usage in acetone production being one of the key application
areas of propanol, the increased preference of acetone manufacturers
to the cumene process is expected to affect profit margins of
companies in the propanol market in the next few years.
Get accurate market forecast and analysis on
the Propanol market. Request a sample to stay abreast on the key
trends impacting this market@
This review of the global propanol market is based
on a recent market research report published by Transparency Market
Research, titled “Propanol Market (Type - Isopropanol and
n-Propanol; Application - Solvent, Chemical Intermediate, Cosmetics
and Pharmaceuticals, Cleansers, Adhesives, and Agricultural
Chemicals) - Global Industry Analysis, Size, Share, Growth, Trends,
and Forecast 2017 - 2025.”
For the study, the market has been segmented as
follows:
Propanol Market: Product Type Analysis
- Isopropanol
- N-propanol
Propanol Market: Application Analysis
- Solvent
- Chemical Intermediate
- Cosmetics and Pharmaceuticals
- Others (Cleansers, adhesives, agricultural chemicals, etc)
About
Us
Transparency Market Research (TMR) is a global market intelligence
company providing business information reports and services. The
company’s exclusive blend of quantitative forecasting and trend
analysis provides forward-looking insight for thousands of decision
makers. TMR’s experienced team of analysts, researchers, and
consultants use proprietary data sources and various tools and
techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team
of research experts so that it always reflects the latest trends and
information. With extensive research and analysis capabilities,
Transparency Market Research employs rigorous primary and secondary
research techniques to develop distinctive data sets and research
material for business reports.
Contact
Us
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
No comments:
Post a Comment