Market Trends of Propanol Industry
This section covers the major market trends shaping the Propanol Market according to our research experts:
Growing Application in Pharmaceutical Industry
- Propanol is used in different industry as isopropanol or n- propanol. Isopropanol is a solvent which is used in many products such as pharmaceutical, cosmetics, paints and resins, food, inks, etc.
- Isopropanol is used as an antiseptic in the pharmaceutical industry. Isopropanol is used as a disinfectant and sanitizing agent. It can be found in sanitizer, medicines, soaps, etc.
- About 40% of the propanol market demand is dominated by the pharmaceutical industry. Isopropanol is used in safe and small quantities in manufacturing capsules and tablets.
- Consumption and production of propanol are majorly growing in developing countries such as India, China, etc.
- Hence, such aforementioned factors increase the demand for the propanol from the end-user industries. This, in turn, expected to drive the demand for propanol during the forecast period.
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Asia-Pacific Region to Dominate the Market
- Asia-Pacific region dominated the global market share. Due to the demand from propanol in industries such as pharmaceuticals, printing, cosmetics is driving growth in countries such as India and China.
- The market of pharmaceutical and cosmetic is growing fast in India, China, which benefited the manufacturers and exporters of isopropanol.
- The next few years are likely the positive market for pharmaceutical and cosmetic products in the Asia Pacific.
- Hence, the Asia-Pacific region is also expected to witness the highest CAGR in the propanol market during the forecast period.
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