Propargyl Alcohols Market Globally Expected to Drive Growth through 2023
Propargyl alcohol is a colorless viscous liquid organic compound containing an alkyne functional group. Propargyl alcohol is miscible with several popular organic solvents as well as water. It is produced as a byproduct of industrial synthesis of 1, 4-Butynediol or by copper catalyzed addition of formaldehyde with acetone. Propargyl alcohol is flammable and highly toxic liquid. Propargyl alcohol is usually used as an intermediate in the processing of various industrial chemicals. Propargyl alcohol is also used as a corrosion inhibitor component in the manufacture of several industrial products.
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As an intermediate, propargyl alcohol is used for the synthesis of pesticides, antibiotics, as an iron dissolution inhibitor in mineral acids, a precursor to fungicides amongst others. Propargyl alcohol also finds applications as a corrosion inhibitor during oil well simulation as an electroplating bath additive. The end-user industry where propargyl alcohol is extensively used includes oilfield solutions, furniture, paints and coatings, personal care and hygiene and paper amongst others. Propargyl alcohol is used in industrial as well as automotive paints and coatings across the globe. The demand for propargyl alcohol is anticipated to be mainly driven by the paints and coatings industry along with oil and gas industry. The demand for Propargyl alcohol is expected to run parallel to the demand for corrosion inhibitors across various industries.
The demand for propargyl alcohols is also anticipated to witness strong growth in the Asia Pacific countries such as China, India, Indonesia etc. With growing industrial and agricultural activities in these regions the demand for propargyl alcohols is also expected to grow on similar lines. This high demand for propargyl alcohols stems from the growing demand for agricultural products and automotive paints and coatings industry in this region. The economic conditions of Brazil, Russia and South Africa are on similar track and hence the demand for propargyl alcohols is also projected to be high in these countries.