Isopropanol is widely used solvent
in the world. It is used as a chemical intermediate.Isopropanol or IPA has various applications
from industries to consumer. Consumer exposure of IPA is very restricted and
used in highly dependent conditions. IPA is flammable with vapor pressure.The
level of Isopropanol used in workplace environment does not cause adverse
health or environmental effects.
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| Source: http://2012books.lardbucket.org |
Propanol (Isopropanol & N-Propanol) market is estimated
to 2,745.8 kilotons by 2018, signifying firm annualized growth rate of 3.9%.Isopropanol
and n-Propanol are used in two different ways as solvent and precursor for
manufacturing other chemicals.
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| Source:http://en.wikipedia.org |
Near about half of the total global consumption of
isopropanol is used by solvent industry. N-propanol also has similar situation where
40% of the total global consumption of n-propanol is consumed by solvent
industry.
As per the stats from 2012, US are the major consumer of
propanol and n-propanol consuming 23.7 % and 50 % respectively. The propanol market is segmented on the basis of industry
application as solvents, chemical intermediates, pharmaceuticals, and others;
while n-propanol market is segmented on the basis of industry application as
n-propyl acetate, direct solvents, n-propylamines, glycol ethers, and others.
Propanol
market is expecting a huge growth worldwide. Asia-Pacific is one of the regions
where one can expect above average growth rate than the global trend.
The business environment for propanol market looks like
oligopolistic. There are a few dominant players who are ruling the market. But
increasing demand from countries like China and India have changed the nature
of competition globally. This is happening because of growing numbers of local
manufacturing plants by the existing players.
The
leading players in this industry are:
·
Royal Dutch Shell Plc
(The Netherlands),
·
The Dow Chemical
Company (U.S.),
·
ExxonMobil Chemical
Company (U.S.),
·
Sasol Limited (South
Africa),
·
BASF SE (Germany),
·
Eastman Chemical
Company (U.S.),
·
Mitsui Chemicals Inc.
(Japan),
·
LG Chem. Ltd (South
Korea).
Pharmaceutical industry is continuously growing across the
world and this is opening a new door of opportunities for the propanol market.
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| Source:http://en.wikipedia.org |
The global propanol market, including isopropanol and n-propanol,
has grown significantly over the last few years and the growth is expected to continue
in the future. Both isopropanol and
n-propanol are widely used solvents and found their applications in manufacturing
various industrial chemicals. In addition to this, isopropanol finds its use in
pharmaceuticals. Isopropanol is considered as an option for other organic
solvents and its volumetric consumption is far more than that of n-propanol.
Isopropanol consumption is affected by stringent norms on
volatile organic compound emissions which results in lower CAGR rate of its
market. But its uses in pharmaceutical industry expected to boost its demand and
can achieve highest CAGR from 2013 to 2018.
In the countries like India and China, isopropanol is largely
used in pharmaceutical industry as an antiseptic, disinfectant, mouthwash
solutions, and is employed in capsule & tablet manufacturing.
Increase in demand from countries like China and India can
be crucial to change the market strategies for players in the isopropanol market.
This makes the manufacturers to invest more resources in term of money,
manpower and materials. Also, marketers are keeping eyes on integration and diversification
of business across the globe. All these efforts are going to help marketers to
capture potential opportunities.
For more information about Global Propanol Market click on
