Core Insights - The anti-dumping measures have effectively mitigated the impact of low-priced imports, promoting the release of domestic capacity and enhancing self-sufficiency, although fluctuations in the propylene supply chain and competition from substitutes still pose constraints on the industry [1][11] - In 2024, China's propanol production is expected to reach 200,800 tons, marking a new phase in domestic substitution, but further improvements in capacity utilization and global market share will depend on technological innovation and collaborative optimization of the industrial chain [1][11] Industry Overview - Propanol, also known as 1-propanol, has extensive applications in the chemical and consumer goods industries, serving as a solvent, chemical synthesis intermediate, and raw material for surfactants [2] - Its solvent properties, including hydrophilicity and lipophilicity, along with low toxicity and environmental advantages, meet the dual demands for efficiency and safety in coatings and inks [3] - The industry is characterized by a high concentration of major players, with four leading companies dominating the market, and a significant reliance on traditional chemical synthesis methods, although green processes are gradually gaining traction [11][15] Policy Background - China's propanol policy framework emphasizes internal and external coordination and green development, with national anti-dumping measures safeguarding industry security and local initiatives promoting low-carbon chemical processes [4][5] - The policy focus is on incentivizing clean production technology development while enforcing environmental standards to drive product upgrades [4][5] Industry Chain - The upstream of the propanol industry relies on petrochemicals (propylene, propane) and biomass (corn starch, molasses), influenced by international oil price fluctuations and agricultural cycles [7] - The midstream production employs both chemical synthesis and fermentation methods, with leading companies optimizing processes for cost reduction [7] - Downstream applications span traditional sectors like coatings and pharmaceuticals, extending into high-end markets such as lithium battery electrolytes and semiconductor cleaning agents [7][9] Current Industry Status - Since 2019, the propanol industry in China has seen continuous nominal capacity growth through technological upgrades and expansions by leading companies, although supply-demand imbalances persist, necessitating some reliance on imports [11][12] - The anti-dumping measures have curbed low-priced imports, enhancing domestic capacity and self-sufficiency, but risks from raw material supply chain fluctuations and substitute competition remain [11][12] Competitive Landscape - The market structure is dominated by large integrated chemical groups, while smaller firms seek survival through differentiation strategies [15] - Leading companies leverage scale and supply chain integration to establish core advantages, with significant investments in technology and process optimization [15][16] Future Development Trends - The propanol industry is expected to focus on deep innovation in green production technologies and the large-scale application of bio-based raw materials, transitioning towards a circular economy model [18] - Companies are likely to integrate artificial intelligence and big data to enhance production efficiency and product quality, while exploring high-value applications in new energy and biodegradable materials [18]