Propanol Market SWOT Analysis Of Top Key Player Forecasts To 2025 Propanol Market - Global Industry Analysis, Size, | Page 2

propylamines, and with acetic acid to produce propyl acetate, hence chemical
intermediate is another key application segment of propanol market. This segment
accounted for the second-leading share in the global propanol market in 2016 and is
expected to retain its spot over the forecast period as well. The steady increase in
demand from well-established chemical industries in developed and certain
emerging economies will help the segment expand at a healthy pace over the
forecast period.
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Asia Pacific to Continue to Dominate Global Propanol Market
The propanol market in North America is expected to expand at a significant rate
whereas, the propanol market in Europe is projected to expand at a moderate pace
during the forecast period. Propanol market in Europe is predicted to be driven by
the uplifting chemical industry in the region. Whereas, the propanol market in North
America is predicted to be driven by the cosmetics, personal care, and
pharmaceuticals industries in the region.
In terms of volume, the Asia Pacific market held the dominant share of over 40% of
the global propanol market in 2015. The propanol market in the region is anticipated
to expand notably in the next few years and is expected to retain dominance over
the forecast period as well. China is projected to be one of the largest consumers of
propanol in the next eight years. Countries such as China, Japan, South Korea, and
India in Asia Pacific are likely to be the fastest-growing markets for propanol during
the forecast period.
High demand for propanol in the chemical industry and as solvent in the paints and
coatings industry are expected to be the key factors propelling the propanol market
in Asia Pacific. The global shift of productions sites from developed countries to
emerging nations is the key driving factor of the growth of these regions.
Some of the leading players operating in the global propanol market are BASF SE,
The Dow Chemical Company, Eastman Chemical Company, Mitsui Chemicals, Inc,
ExxonMobil Corporation, Tokuyama Corporation, LyondellBasell Industries N.V., and
Oxea GmbH.
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