India N-propanol Market Shipment Analysis
India N-propanol Market registered a decline of -13.36% in value shipments in 2022 as compared to 2021 and an increase of 7.91% CAGR in 2022 over a period of 2017. In N-propanol Market India is becoming less competitive as HHI index in 2022 was 3433 while in 2017 it was 1320. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market. India has reportedly relied more on imports to meet its growing demand in N-propanol Market.
India is shifting towards local production to meet its demand as we see the trend is shifting towards reducing imports. The import factor of N-propanol Market in 2022 was 9.94 while in 2017 it was 10.57. China, Other Asia, nes, Rep. of Korea, USA and South Africa were among the top players of the market in 2022, where China acquired the largest market share of 53.47% with a shipment value of 79.08 million USD in 2022 China also offered the product below the average market price thus having a competitive advantage over others In 2017 Rep. of Korea had the largest market share of 21.1% with the shipment value of 22.82 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As Rep. of Koreaprice is lower than the average price, it provided a significant edge among other competitor in 2017.
India N Propanol Market Synopsis
India propanol market is estimated to reach USD 4.93 billion by 2023, at a CAGR of 6.2% between 2017 and 2023. Propanol is used in various industries such as oil & gas, chemical, rubber & plastic, paints& coatings and others for manufacturing products with extended shelf life. It finds its application as an intermediate raw material in the production of polyols and phenols which are further used in producing surfactants that find its applications in personal care products such as soaps, shampoos etc., thereby driving the demand for propanol from these end-use industries across India.
Drivers of the market
The India n propanol market is set to grow due to several driving factors. N propanol, a type of alcohol, finds applications in various industries such as chemicals, pharmaceuticals, and cosmetics. Its solvent properties and use in formulations contribute to its demand. The growth of end-use sectors, industrial production, and research activities are driving the market`s expansion. Additionally, increasing awareness about sustainable and eco-friendly chemicals may influence the adoption of n propanol as a green solvent. Fluctuations in raw material prices and regulatory considerations could also impact the market`s dynamics.
Challenges of the Market
The India n propanol market is used in various industries, including pharmaceuticals, cosmetics, and paints. Challenges include the need for efficient sourcing of raw materials and ensuring consistent quality. Adhering to safety and environmental regulations in production, storage, and transportation is crucial. Additionally, the market needs to stay abreast of changing industry requirements and consumer preferences while navigating competitive pressures.
Covid-19 Impact on the Market
The India n propanol market is tied to applications in solvents, chemicals, and manufacturing. The pandemic affected industrial activities and supply chains, influencing demand for such chemicals. As industries resume operations, the market is projected to recover. Stringent safety regulations and emerging industrial trends could also play a role in shaping its future.
Key Players of the Market
The India n-propanol market is driven by its use in various industries, including pharmaceuticals, chemicals, and cosmetics. Key players like Sasol Limited, BASF India Ltd, and Sisco Research Laboratories Pvt. Ltd are important contributors to this market. These companies provide n-propanol for manufacturing processes and formulations across different sectors.
Key Highlights of the Report:
- India N-propanol Market Outlook
- Market Size of India N-propanol Market, 2021
- Forecast of India N-propanol Market, 2028
- Historical Data and Forecast of India N-propanol Revenues & Volume for the Period 2018 - 2028
- India N-propanol Market Trend Evolution
- India N-propanol Market Drivers and Challenges
- India N-propanol Price Trends
- India N-propanol Porter's Five Forces
- India N-propanol Industry Life Cycle
- Historical Data and Forecast of India N-propanol Market Revenues & Volume By Type for the Period 2018 - 2028
- Historical Data and Forecast of India N-propanol Market Revenues & Volume By Ethylene Hydrogenation Method for the Period 2018 - 2028
- Historical Data and Forecast of India N-propanol Market Revenues & Volume By Allyl Alcohol Hydrogenation Method for the Period 2018 - 2028
- Historical Data and Forecast of India N-propanol Market Revenues & Volume By Other Compounds Byproduct Method for the Period 2018 - 2028
- Historical Data and Forecast of India N-propanol Market Revenues & Volume By Application for the Period 2018 - 2028
- Historical Data and Forecast of India N-propanol Market Revenues & Volume By Coatings for the Period 2018 - 2028
- Historical Data and Forecast of India N-propanol Market Revenues & Volume By Food Additive for the Period 2018 - 2028
- Historical Data and Forecast of India N-propanol Market Revenues & Volume By Pharmaceutical for the Period 2018 - 2028
- Historical Data and Forecast of India N-propanol Market Revenues & Volume By Cosmetics for the Period 2018 - 2028
- Historical Data and Forecast of India N-propanol Market Revenues & Volume By Others for the Period 2018 - 2028
- India N-propanol Import Export Trade Statistics
- Market Opportunity Assessment By Type
- Market Opportunity Assessment By Application
- India N-propanol Top Companies Market Share
- India N-propanol Competitive Benchmarking By Technical and Operational Parameters
- India N-propanol Company Profiles
- India N-propanol Key Strategic Recommendations
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