World - Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) - Market Analysis, Forecast, Size, Trends And Insights
Report Update: May 1, 2024

World - Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) - Market Analysis, Forecast, Size, Trends And Insights

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Propyl and Isopropyl Alcohol Market

The article discusses the increasing demand for propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) worldwide, forecasting market performance and consumption trends up to 2030. It provides detailed insights on market volume, value, production, imports, and exports, with a focus on major consuming and producing countries such as China, the United States, and India. The data showcases growth rates, consumption patterns, and price fluctuations over the past decade, offering a comprehensive overview of the global propyl and isopropyl alcohol market.

Market Forecast

Driven by increasing demand for propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.3% for the period from 2022 to 2030, which is projected to bring the market volume to 2.5M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.4% for the period from 2022 to 2030, which is projected to bring the market value to $3.7B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol)

In 2022, the amount of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) consumed worldwide was estimated at 2.5M tons, surging by 2.8% compared with the previous year's figure. The total consumption volume increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak volume of 2.5M tons; afterwards, it flattened through to 2022.

The global propyl and isopropyl alcohol market revenue expanded markedly to $3.1B in 2022, increasing by 5.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $3.2B. From 2021 to 2022, the growth of the global market failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (580K tons), the United States (293K tons) and India (163K tons), with a combined 42% share of global consumption. Germany, Brazil, South Korea, Japan, Mexico, Singapore, the Netherlands, Russia, Malaysia and Canada lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +26.1%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($670M) led the market, alone. The second position in the ranking was taken by the United States ($324M). It was followed by Germany.

In China, the propyl and isopropyl alcohol market expanded at an average annual rate of +1.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+6.6% per year) and Germany (+8.1% per year).

In 2022, the highest levels of propyl and isopropyl alcohol per capita consumption was registered in Singapore (7.9 kg per person), followed by the Netherlands (2.6 kg per person), South Korea (1.8 kg per person) and Germany (1.6 kg per person), while the world average per capita consumption of propyl and isopropyl alcohol was estimated at 0.3 kg per person.

In Singapore, propyl and isopropyl alcohol per capita consumption increased at an average annual rate of +24.9% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: the Netherlands (+4.4% per year) and South Korea (+14.6% per year).

Production

World Production of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol)

Global propyl and isopropyl alcohol production expanded modestly to 2.5M tons in 2022, surging by 4.9% against 2021 figures. The total output volume increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when the production volume increased by 12%. Global production peaked in 2022 and is expected to retain growth in the near future.

In value terms, propyl and isopropyl alcohol production expanded notably to $2.7B in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 30%. As a result, production attained the peak level of $2.9B. From 2021 to 2022, global production growth remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (659K tons), the United States (453K tons) and South Korea (180K tons), together comprising 51% of global production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by South Korea (with a CAGR of +9.4%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol)

In 2022, supplies from abroad of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) decreased by -5.5% to 1.4M tons, falling for the second year in a row after six years of growth. The total import volume increased at an average annual rate of +2.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of 23%. As a result, imports reached the peak of 1.7M tons. From 2021 to 2022, the growth of global imports failed to regain momentum.

In value terms, propyl and isopropyl alcohol imports reduced to $1.9B in 2022. Overall, total imports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -10.9% against 2020 indices. The growth pace was the most rapid in 2020 when imports increased by 54%. As a result, imports attained the peak of $2.1B. From 2021 to 2022, the growth of global imports failed to regain momentum.

Imports By Country

India (137K tons), Belgium (128K tons), the United States (113K tons), China (94K tons), Germany (80K tons), Mexico (54K tons), Malaysia (43K tons), Spain (37K tons), Indonesia (37K tons), Italy (35K tons), Thailand (35K tons) and Taiwan (Chinese) (31K tons) represented roughly 61% of total imports in 2022. Singapore (31K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +12.1%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, Belgium ($176M), India ($148M) and the United States ($144M) appeared to be the countries with the highest levels of imports in 2022, with a combined 25% share of global imports.

Among the main importing countries, India, with a CAGR of +9.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average propyl and isopropyl alcohol import price stood at $1,403 per ton in 2022, growing by 4% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 32% against the previous year. Global import price peaked at $1,413 per ton in 2014; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Italy ($1,625 per ton), while India ($1,078 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+3.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol)

In 2022, shipments abroad of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) decreased by -1.9% to 1.4M tons, falling for the second consecutive year after six years of growth. The total export volume increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 22% against the previous year. As a result, the exports reached the peak of 1.6M tons. From 2021 to 2022, the growth of the global exports remained at a somewhat lower figure.

In value terms, propyl and isopropyl alcohol exports shrank modestly to $1.8B in 2022. Overall, total exports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -10.0% against 2020 indices. The pace of growth appeared the most rapid in 2020 when exports increased by 62%. As a result, the exports attained the peak of $2B. From 2021 to 2022, the growth of the global exports remained at a somewhat lower figure.

Exports By Country

In 2022, the United States (274K tons), distantly followed by China (174K tons), South Africa (124K tons), Belgium (116K tons), Taiwan (Chinese) (111K tons), the Netherlands (101K tons), South Korea (100K tons), Japan (90K tons) and Canada (73K tons) represented the major exporters of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol), together committing 82% of total exports. Russia (63K tons) held a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +47.6%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($378M) remains the largest propyl and isopropyl alcohol supplier worldwide, comprising 21% of global exports. The second position in the ranking was held by China ($176M), with a 9.8% share of global exports. It was followed by Belgium, with a 9.5% share.

In the United States, propyl and isopropyl alcohol exports increased at an average annual rate of +2.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (+43.2% per year) and Belgium (+4.9% per year).

Export Prices By Country

The average propyl and isopropyl alcohol export price stood at $1,264 per ton in 2022, therefore, remained relatively stable against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average export price increased by 32% against the previous year. The global export price peaked at $1,356 per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Netherlands ($1,486 per ton), while Russia ($174 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+1.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the global market for propyl and isopropyl alcohol. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 20142220 - Propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol)

Country coverage:

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

  • Global market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Global production, split by region and country
  • Global trade (exports and imports)
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS
  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030
  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT
  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES
  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS
  7. 7. GLOBAL PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY
  8. 8. GLOBAL IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY
  9. 9. GLOBAL EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY
  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • United States
    • China
    • Japan
    • Germany
    • United Kingdom
    • France
    • Brazil
    • Italy
    • Russian Federation
    • India
    • Canada
    • Australia
    • Republic of Korea
    • Spain
    • Mexico
    • Indonesia
    • Netherlands
    • Turkey
    • Saudi Arabia
    • Switzerland
    • Sweden
    • Nigeria
    • Poland
    • Belgium
    • Argentina
    • Norway
    • Austria
    • Thailand
    • United Arab Emirates
    • Colombia
    • Denmark
    • South Africa
    • Malaysia
    • Israel
    • Singapore
    • Egypt
    • Philippines
    • Finland
    • Chile
    • Ireland
    • Pakistan
    • Greece
    • Portugal
    • Kazakhstan
    • Algeria
    • Czech Republic
    • Qatar
    • Peru
    • Romania
    • Vietnam
  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023
  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023
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Free Data: Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) - World