According to Fortune Business Insights, The global n-propanol market size was USD 1,613.1 million in 2023 and is projected to grow from USD 1,684.9 million in 2024 to USD 2,374.1 million in 2032 at a CAGR of 4.3% during the forecast period (2024-2032). Asia Pacific dominated the N-propanol market with a market share of 33.3% in 2023. Moreover, the n-propanol market size in the U.S. is projected to grow significantly, reaching an estimated value of USD 634.0 million by 2032, driven by increasing demand for paints & coatings from the building & construction and automotive industries.
The increasing demand for paints & coatings from the building & construction and automotive industries is the primary factor driving market growth. The need for alcohol in emerging economies is projected to grow rapidly due to rising industrialization and urbanization activities.
The ethylene-hydrogenation method dominates the market due to its better efficiency and yields. The allyl-alcohol hydrogenation and by-product routes are also expanding, particularly in the coatings and adhesive sectors.
Coatings and solvents (automotive and industrial paints, inks, adhesives) command a primary share, driven by packaging, construction, and textile inks.