Report Ocean published a new report on the Isopropyl Alcohol market. The research report consists of thorough information about demand, growth, opportunities, challenges, and restraints. In addition, it delivers an in-depth analysis of the structure and possibility of global and regional industries.
The global market report contains data on research & development, new product launches, and product responses from global and local markets by leading companies. The structured study offers a graphical presentation and a diagrammatic examination of the global market by region.
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The global isopropyl alcohol market size was US$ 2.1 billion in 2021. The global isopropyl alcohol market is forecast to grow to US$ 5.4 billion by 2030 by registering a compound annual growth rate (CAGR) of 7.9% during the forecast period from 2022 to 2030.
Isopropyl alcohol is an organic chemical molecule with the molecular formula C3H7OH. It is a volatile liquid chemical that is colourless, combustible, and has a strong odour and harsh taste. Despite being miscible with water, a few other alcohols, including ether and chloroform, isopropyl alcohol are insoluble in salt solutions. It is mostly utilized as a solvent in the production of essential oils, resins, alkaloids, gums, cellulose, and coatings. It is also employed as a de-icing agent in the production of liquid fuels, lacquers, and extraction operations, as well as an antiseptic in anti-freeze compositions. Isopropyl alcohol is used to make glycerol, shellacs, quick-drying inks, isopropyl acetate, and creosote.
COVID-19 Impact Analysis
Isopropyl alcohol is used in the making of sanitizers and other cleaning products. The demand for sanitizers upsurged all across the globe. As a result, the global isopropyl alcohol market witnessed various growth opportunities.
Regional Analysis
On the basis of region, Asia-Pacific is forecast to hold the highest share in the isopropyl alcohol market. The growth of the market is attributed to the factors like rising funding in the chemical industry and rapidly growing demand for cosmetic products. In addition, the large pharmaceuticals sector and increasing R&D are expected to bring untapped growth opportunities for the market.
Isopropyl alcohol is extensively used in the personal care sector. Because of Western culture’s influence, personal care and cosmetic product demand are also growing quickly throughout the region. Teenagers are using more cosmetics, which is expected to be opportunistic for the market.
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Factors Influencing the Market
The wide applications of isopropyl alcohol in personal care, medical, chemicals, and other sectors will primarily fuel the growth of the isopropyl alcohol market. Apart from that, isopropyl alcohol finds applications in a variety of downstream sectors, including paint & coatings, printing, automotive, etc. In addition to that, rising investments in the sector will also contribute to the growth of the isopropyl alcohol market during the study period.
Isopropyl alcohol is also used in purifying and extracting natural goods, including animal and vegetable oils, waxes, resins, flavourings, fats, etc. The growing demand for these goods will propel the isopropyl alcohol market forward. On the flip side, drawbacks like high energy costs and the corrosive nature of isopropyl alcohol may limit the market growth during the forecast period.
Competitors in the Market
• Royal Dutch Shell PLC
• LG Chem
• Exxon Mobil Corporation
• LyondellBasell Industries Holdings BV
• Avantor
• Denoir Ultra-Pure
• DongYing Naire Technology
• Guangfu Fine Chemicals
• Huate Gas
• OM group
• Tokuyama Corporation
• Linde
• Puritan Products
• Other Prominent Players
Market Segmentation
The global isopropyl alcohol market segmentation focuses on End-Use, Production, Application, and Region.
By End-Use Industries Outlook
• Cosmetics and Personal Care
• Pharmaceutical
• Electronics
• Paints and Coatings
• Chemicals
• Other End-user Industries
By Production Method Outlook
• Indirect Hydration
• Direct Hydration
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By Application Outlook
• Process and Preparation Solvent
• Cleaning and Drying Agent
• Coating and Dye Solvent
• Intermediate
• Other Applications
By Region
● North America
o The U.S.
o Canada
o Mexico
● Europe
▪ Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
▪ Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America
What are the goals of the report?
⮞The predicted market size for the Market Industry at the conclusion of the forecast period is shown in this market report.
⮞The paper also analyses market sizes in the past and present.
⮞The charts show the year-over-year growth (percent) and compound annual growth rate (CAGR) for the given projected period based on a variety of metrics.
⮞The research contains a market overview, geographical breadth, segmentation, and financial performance of main competitors.
⮞The research evaluates the current situation of the industry in North America, Asia Pacific, Europe, Latin America, the Middle East, and Africa, as well as future growth opportunities.
⮞The study examines the future period’s growth rate, market size, and market worth.
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