2-Cyclopropylethanol Market - Forecast(2023 - 2028)

Report Code: CMR 73266 Report Format: PDF + Excel

2-Cyclopropylethanol Market Overview

The 2-Cyclopropylethanol market size is expected to grow at a CAGR of 5.5% during 2022-2027. 2-Cyclopropylethanol is also known as 2-Hydroxyethyl, widely used in the preparation of 2-Bromo-ethyl, cyclopropanecarbaldehyde by reacting with phosphorus tribromide. 2-Cyclopropylethanol is also used as a chemical reagent to synthesize 22-hydroxycholesterol derivatives, compounds that act as serum cholesterol-lowering agents and to synthesize potent 15-Hydroxyprostaglandin dehydrogenase inhibitors in chemical, metal and other sectors. According to the American Chemistry Council, the U.S chemical sector has seen a robust growth of 1.4% in 2021 and is expected to grow by 4.3% in 2022 and 2.1% in 2023. Therefore, the growing chemical sector along with growing demand from pharmaceuticals and others will boost the demand for 2-cyclopropylethanol during the forecast period. The Covid-19 pandemic has been a major challenge for the 2-cyclopropylethanol market owing to directly affecting the manufacturer's supply chain across the globe and shutting down the production facilities to minimize the risk of virus spread. The major sectors such as chemical, industrial and others have been highly impacted as the chemical sector converts raw materials into more than 70,000 diverse products essential to modern life and distributes those products to more than 750,000 end-users throughout the globe. Due to the social distancing policy, U.S. chemical shipments have declined by 13.5% in 2020. Chemical industry capital spending fell by 17.6% and basic chemicals and specialty chemicals declined by 10.8%.

Report Coverage

The report:“2-Cyclopropylethanol Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Global 2-Cyclopropylethanol industry.

By Grade: Pharma Grade and Technical Grade.
By Purity: 96%, 97% and 98%.
By Application: Chemicals (Inorganic, Organic, Solvents and Others), Metal & Material (Alloy, Carbon, Crystals, Etchants, Metal Gauzes and Others) Life science, Analytical & Labware, Catalysts, Pharmaceutical and Others.
By Geography: North America (USA, Canada and Mexico), Europe (UK, Germany, Italy, France, Netherlands, Belgium, Spain and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia and New Zeeland, Indonesia, Taiwan, Malaysia and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and Rest of South America) and Rest of the World: The Middle East (Saudi Arabia, UAE, Israel, Rest of the Middle East) and Africa (South Africa, Nigeria, Rest of Africa).

Key Takeaways

  • The Asia Pacific is expected to register a CAGR of 6.2% during the forecast period (2022-2027). The increasing demand from pharmaceutical sectors, among Asian countries such as China, India, Japan and South Korea is driving the 2-Cyclopropylethanol market size.
  • Growing demand for 2-Cyclopropylethanol as the chemical reagent to synthesize 22-Hydroxycholesterol derivatives, compounds are expected to boost the demand for 2-cyclopropylethanol during the forecast period.
  • Robust demand for crystals, etchants and metal gauzes in various end-use industries like metal and others will increase the demand for the 2-Cyclopropylethanol market.
  • Bolstering demand from the pharmaceutical sector for the production of various drugs is driving the global 2-Cyclopropylethanol industry.

Figure: Asia Pacific 2-Cyclopropylethanol Market Revenue, 2021-2027 (US$ Million)

Global 2-Cyclopropylethanol Market

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2-Cyclopropylethanol Market Segment Analysis – by Grade

The technical grade segments accounted for a major portion of the 2-Cyclopropylethanol market share in 2021 and are estimated to grow at a significant CAGR during the forecast period. Technical grade chemicals are best used in industrial and commercial operations like alloy, carbon, crystals, etchants and metal gauzes preparation. They are also used for inexact laboratory functions, such as dissolving, rinsing and chemical synthesis. According to the Aluminum Association of Canada, 3.1 million tons of aluminum was produced in Canada and generated a revenue of around US$5.64 billion revenue from primary aluminum export in 2020. Also, the global demand growth for aluminum is around 3.5% from 2020 to 2025. Thus, the rise in the production of aluminum alloy and other metals which is widely used in transportation, construction and others will drive the 2-Cyclopropylethanol market.

2-Cyclopropylethanol Market Segment Analysis - by Application

The pharmaceutical segment is expected to grow at a high CAGR of 6.3% in the application segment during the forecast period. The pharmaceutical segment acquired a significant portion of the 2-Cyclopropylethanol market share in 2021. The 2-Cyclopropylethanol is widely used as a chemical regent in the pharmaceutical sector for the chemical processing system for the development of active pharmaceutical ingredients like phenothiazines (neuroleptics, sedatives), apoptosis reagents, biochemical reagents, buffers, cell culture reagents, electrophoresis, enzymes and antibiotics. 2-cyclopropylethanol also serves as a synthesis component in the production of drugs. According to the Government of Canada, the Canadian pharmaceutical sector is one of the most innovative industries and contributes 2.1% of pharmaceutical sales share in the global market, making Canada the 9th largest world pharmaceutical market. Pharmaceutical exports have increased by 143% from 2011 to 2020, in Canada. Therefore, the growing pharmaceutical sector will drive the 2-Cyclopropylethanol market size during the forecast period.

2-Cyclopropylethanol Market Segment Analysis - by Geography

Asia-Pacific region held the largest portion of the 2-Cyclopropylethanol market share in 2021, owing to the growing chemical, mining and pharmaceutical sectors in developing countries like China, India, Indonesia and others. The 2-Cyclopropylethanol is widely used as chemical reagents, intermediates, active pharmaceutical ingredients, analytical & labware, catalysts products and others that can be used in various industries. According to the European Federation of Pharmaceutical Industries and Associations, China's pharmaceutical market size is around 8.2% and Japan holds around 7.0% of the market share in the world in 2020. Also, according to the India Brand Equity Research Federation, the chemical industry of India is anticipated to contribute US$300 billion to India’s GDP by 2025 and the manufacturing sector is growing with a CAGR of 11% from 2015 to 2021. Therefore, the growing chemical, pharmaceutical and others are boosting the demand for the 2-cyclopropylethanol market during the forecast period.

2-Cyclopropylethanol Market Drivers:

Robust demand for 2-Cyclopropylethanol in the Chemical sector

The robust demand for 2-Cyclopropylethanol in chemicals is helping in the growth of the 2-cyclopropylethanol market. 2-Cyclopropylethanol is widely used as a chemical reagent that can be used for scientific research, analysis and testing as well as the functional materials required by various industries. Also, it acts as a key raw material in the production of adhesives & sealants, paints, inks and others. These chemicals are widely used in various industries like plastic, paper, metal and others. According to American Chemistry Council, global industrial production is expected to expand by 4.6% in 2022. U.S. chemical volumes are expected to grow by 3.2% in 2022, while shipments will increase by 8.2% in 2022. Chemical industry capital spending will be up 3.1%, basic chemicals will expand by 3.4% and specialty chemicals will expand by 4.1% in 2022. Therefore, the growing chemical sector is boosting the demand for 2-cyclopropylethanol from various end-use industries, which in turn, will be driving the 2-cyclopropylethanol market during the forecast period.

Bolstering demand from the pharmaceutical sector for the production of drugs is driving the 2-Cyclopropylethanol market.

The 2-Cyclopropylethanol is widely used in the pharmaceutical sector for the production of drugs as 2-cyclopropylethanol acts as an ingredient for many drugs. The growth in the pharmaceutical sector will eventually drive the demand for the 2-Cyclopropylethanol market globally. According to India Brand Equity Foundation, the domestic pharmaceutical market of India is valued at US$42 billion in 2021 and estimated to reach US$65 billion by 2024 and further expand to reach US$120-130 billion by 2030. Also, North America accounted for 49.0% of world pharmaceutical sales and 23.9% of Europe sales in 2020. Moreover, around 63.7% of sales of new medicines launched during the period 2015-2020 were on the US market and 17.4% on the European market as per the European Federation of Pharmaceutical Industries and Association. Thus, a rise in the growth of pharmaceutical products across the globe will eventually drive the demand for 2-cyclopropylethanol during the forecast period.

2-Cyclopropylethanol Market Challenges:

Human Hazards due to excessive exposure to 2-Cyclopropylethanol

Excessive exposure while manufacturing various chemical intermediates causes skin & respiratory tract irritation, asthma and dermatitis, which is restraining the 2-Cyclopropylethanol market during the forecast period. Also, 2-cyclopropylethanol is highly flammable when in contact with high-temperature objects, sparks and strong oxidizing agents which can affect the lives of people, in turn, will restrain the market growth. Moreover, the lack of awareness of the 2-Cyclopropylethanol product among a specific section of the population is hampering the market growth during the forecast period.

Global 2-Cyclopropylethanol Industry Outlook

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the 2-Cyclopropylethanol market. The top 10 companies in the 2-Cyclopropylethanol market are:

  1. Alfa Chemistry
  2. VWR International
  3. 3B Scientific Corporation
  4. ShangHai Wisacheam Pharmaceutical
  5. Meryer Chemical Technology
  6. Shijiazhuang Sdyano Fine Chemical
  7. Nanjing Chemlin Chemical
  8. Sinopharm Chemical Reagent
  9. ShangHai Wisacheam Pharmaceutical
  10. FUJIFILM Wako Pure Chemical Corporation

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1. 2-Cyclopropylethanol Market - Market Overview
    1.1 Definitions and Scope 
2. 2-Cyclopropylethanol Market - Executive Summary
    2.1 Key Trends by Grade
    2.2 Key Trends by Purity
    2.3 Key Trends by Application
    2.4 Key Trends by Geography
3. 2-Cyclopropylethanol Market – Comparative analysis 
    3.1 Market Share Analysis - Major Companies
    3.2 Product Benchmarking - Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis - Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. 2-Cyclopropylethanol Market - Startup Companies Scenario Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. 2-Cyclopropylethanol Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. 2-Cyclopropylethanol Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porter Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes 
7. 2-Cyclopropylethanol Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. 2-Cyclopropylethanol Market – By Grade (Market Size - US$ Million/Billion)
    8.1 Pharma Grade
    8.2 Technical Grade
9. 2-Cyclopropylethanol Market – By Purity (Market Size - US$ Million/Billion)
    9.1 96%
    9.2 97%
    9.3 98%
10. 2-Cyclopropylethanol Market – By Application (Market Size - US$ Million/Billion)
    10.1 Chemicals
        10.1.1 Inorganic
        10.1.2 Organic
        10.1.3 Solvents 
        10.1.4 Others
    10.2 Metal & Material
        10.2.1 Alloy
        10.2.2 Carbon 
        10.2.3 Crystals
        10.2.4 Etchants
        10.2.5 Metal Gauzes
        10.2.6 Others
    10.3 Life science
    10.4 Analytical & Labware
    10.5 Catalysts
    10.6 Pharmaceutical
    10.7 Others
11. 2-Cyclopropylethanol Market - By Geography (Market Size - US$ Million/Billion)
    11.1 North America
        11.1.1 the USA
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 the UK
        11.2.2 Germany
        11.2.3 France
        11.2.4 Italy
        11.2.5 the Netherlands
        11.2.6 Spain
        11.2.7 Belgium
        11.2.8 Rest of Europe
    11.3 Asia-Pacific
        11.3.1 China
        11.3.2 Japan
        11.3.3 India
        11.3.4 South Korea
        11.3.5 Australia and New Zealand
        11.3.6 Indonesia
        11.3.7 Taiwan
        11.3.8 Malaysia
        11.3.9 Rest of APAC
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Colombia
        11.4.4 Chile
        11.4.5 Rest of South America
    11.5 Rest of the World
        11.5.1 the Middle East
            11.5.1.1 Saudi Arabia
            11.5.1.2 UAE
            11.5.1.3 Israel
            11.5.1.4 Rest of the Middle East
        11.5.2 Africa
            11.5.2.1 South Africa
            11.5.2.2 Nigeria
            11.5.2.3 Rest of Africa
12. 2-Cyclopropylethanol Market – Entropy
    12.1New Product Launches
    12.2M&As, Collaborations, JVs and Partnerships
13. 2-Cyclopropylethanol Market – Industry/Segment Competition Landscape Premium
    13.1 Company Benchmarking – Major Companies
    13.2 Market Share at Global Level - Major companies
    13.3 Market Share by Key Region - Major companies
    13.4 Market Share by Key Country - Major companies
    13.5 Market Share by Key Application - Major companies
    13.6 Market Share by Key Product Type/Product category - Major companies
14. 2-Cyclopropylethanol Market – Key Company List by Country Premium Premium
15. 2-Cyclopropylethanol Market Company Analysis - Business Overview, Product Portfolio, Financials and Developments
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10  Company 10 and more
    * "Financials would be provided to private companies on best-efforts basis."

LIST OF TABLES

1.Global 2-Cyclopropylethanol Market, by Type Market 2019-2024 ($M)
2.Global 2-Cyclopropylethanol Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
3.Global 2-Cyclopropylethanol Market, by Type Market 2019-2024 (Volume/Units)
4.Global 2-Cyclopropylethanol Market Analysis and Forecast by Type and Application Market 2019-2024 (Volume/Units)
5.North America 2-Cyclopropylethanol Market, by Type Market 2019-2024 ($M)
6.North America 2-Cyclopropylethanol Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
7.South America 2-Cyclopropylethanol Market, by Type Market 2019-2024 ($M)
8.South America 2-Cyclopropylethanol Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
9.Europe 2-Cyclopropylethanol Market, by Type Market 2019-2024 ($M)
10.Europe 2-Cyclopropylethanol Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
11.APAC 2-Cyclopropylethanol Market, by Type Market 2019-2024 ($M)
12.APAC 2-Cyclopropylethanol Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
13.MENA 2-Cyclopropylethanol Market, by Type Market 2019-2024 ($M)
14.MENA 2-Cyclopropylethanol Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)

LIST OF FIGURES

1.US Global 2-Cyclopropylethanol Industry Market Revenue, 2019-2024 ($M)
2.Canada Global 2-Cyclopropylethanol Industry Market Revenue, 2019-2024 ($M)
3.Mexico Global 2-Cyclopropylethanol Industry Market Revenue, 2019-2024 ($M)
4.Brazil Global 2-Cyclopropylethanol Industry Market Revenue, 2019-2024 ($M)
5.Argentina Global 2-Cyclopropylethanol Industry Market Revenue, 2019-2024 ($M)
6.Peru Global 2-Cyclopropylethanol Industry Market Revenue, 2019-2024 ($M)
7.Colombia Global 2-Cyclopropylethanol Industry Market Revenue, 2019-2024 ($M)
8.Chile Global 2-Cyclopropylethanol Industry Market Revenue, 2019-2024 ($M)
9.Rest of South America Global 2-Cyclopropylethanol Industry Market Revenue, 2019-2024 ($M)
10.UK Global 2-Cyclopropylethanol Industry Market Revenue, 2019-2024 ($M)
11.Germany Global 2-Cyclopropylethanol Industry Market Revenue, 2019-2024 ($M)
12.France Global 2-Cyclopropylethanol Industry Market Revenue, 2019-2024 ($M)
13.Italy Global 2-Cyclopropylethanol Industry Market Revenue, 2019-2024 ($M)
14.Spain Global 2-Cyclopropylethanol Industry Market Revenue, 2019-2024 ($M)
15.Rest of Europe Global 2-Cyclopropylethanol Industry Market Revenue, 2019-2024 ($M)
16.China Global 2-Cyclopropylethanol Industry Market Revenue, 2019-2024 ($M)
17.India Global 2-Cyclopropylethanol Industry Market Revenue, 2019-2024 ($M)
18.Japan Global 2-Cyclopropylethanol Industry Market Revenue, 2019-2024 ($M)
19.South Korea Global 2-Cyclopropylethanol Industry Market Revenue, 2019-2024 ($M)
20.South Africa Global 2-Cyclopropylethanol Industry Market Revenue, 2019-2024 ($M)
21.North America Global 2-Cyclopropylethanol Industry By Application
22.South America Global 2-Cyclopropylethanol Industry By Application
23.Europe Global 2-Cyclopropylethanol Industry By Application
24.APAC Global 2-Cyclopropylethanol Industry By Application
25.MENA Global 2-Cyclopropylethanol Industry By Application