In the Asian market, propanol prices initially surged due to robust demand from downstream industries, but excess supply and diminished demand led to a prolonged decline throughout the specified period. Europe experienced heightened inflation from the 2022 Russian invasion of Ukraine, causing downsizing and unsustainable upstream costs. This generated a cost-of-living crisis, impacting sectors, notably manufacturing. The propanol market suffered as downstream industries struggled, resulting in surplus inventories and a negative trade outlook in H1 2023. North America mirrored these trends, with subdued demand and increased availability affecting market sentiment.
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Definition
Propanol, also known as propan-1-ol or n-propanol, is a colorless and flammable alcohol compound with the chemical formula C3H8O. It belongs to the family of primary alcohols and is an isomer of isopropanol (propan-2-ol). Propanol is commonly used as a solvent in various industrial applications, including pharmaceuticals, cosmetics, and chemical manufacturing. It is also utilized as a cleaning agent, disinfectant, and in the production of various chemicals. Propanol can be derived from petrochemical sources or obtained through fermentation processes using certain microorganisms. It possesses a distinctive odor and can be harmful if ingested or inhaled in excessive amounts.
Key Details About the Propanol Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Propanol in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Propanol Price chart, including India Propanol price, USA Propanol price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Propanol Price Trend:
Propanol finds key industrial uses as a versatile solvent, essential for dissolving various substances in industries such as pharmaceuticals, paints, coatings, and cosmetics. It serves as a crucial component in manufacturing chemicals, plastics, and resins. Additionally, propanol’s disinfectant properties make it valuable in healthcare and cleaning products, while its use as a fuel additive and intermediate in chemical synthesis further enhances its industrial significance.
Key Players:
- Dow Chemical Company
- BASF SE
- Royal Dutch Shell Plc.
- Eastman Chemical Company
- Mitsui Chemicals Inc.
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