North America Isopropyl Alcohol Market to Reach 1,196,190 Tons by 2032, Impelled by Advent Bio-Based Variants

September 12, 2020 | Chemical & Materials

According to the recent report by IMARC Group, titled “North America Isopropyl Alcohol Market Report by Application (Process Solvent, Cleaning Agent, Coating Solvent, Intermediate, and Others), End-Use Industry (Cosmetics and Personal Care, Pharmaceuticals, Food and Beverages, Paints and Coatings, Chemicals, and Others), and Country 2024-2032,” the North America isopropyl alcohol market size reached 976,500 Tons in 2023. Isopropyl alcohol, with the chemical formula CH₃CHOHCH₃, is a colorless and flammable compound. Also known as 2-propanol, it is synthesized from the reaction of sulfuric acid and propylene, followed by hydrolysis. Isopropyl alcohol creates a homogenous mixture with ether, water, ethanol, chloroform, oils, natural resins, and polyvinyl butyral. As a result, it is commonly used as a solvent and cleaning fluid, especially to dissolve oils. Besides this, it is also utilized as an anesthetic, disinfectant, intermediate, and additive. Due to its versatile nature, isopropyl alcohol finds applications in a wide range of sectors like cosmetics, automotive, liquid detergents, paints and coatings, food processing, and printing.

North America Isopropyl Alcohol Market Trends:

One of the leading factors driving the demand for isopropyl alcohol in North America is the rising cases of the coronavirus disease (COVID-19). Isopropyl alcohol is utilized in the production of hand sanitizers, hand rubs, other disinfection products, which are being widely used as a preventive measure to curb the spread of the disease. Furthermore, due to its favorable properties, isopropyl alcohol is utilized in personal care products and cosmetics. The rising demand for anti-aging products in North America is bolstering the growth of the market. Apart from this, isopropyl alcohol is employed in the food and beverage industry for the extraction and purification of natural products like colors, vitamins, flavorings, and oils. Furthermore, the introduction of bio-based isopropyl alcohol is creating a positive outlook for the market growth due to the rising inclination toward renewable resources. On account of these factors, the market is expected to reach a volume of 1,196,190 Tons by 2032, exhibiting a CAGR of 2.2% during the forecast period (2024-2032).

Market Summary:

Based on the application, the market has been segmented into, process solvent, cleaning agent, coating solvent, intermediate, others.
On the basis of the end-use industry, the market has been classified into cosmetics and personal care, pharmaceuticals, food and beverages, paints and coatings, chemicals, others.
Region-wise, the market has been divided into the United States, Canada, and Mexico.
The competitive landscape of the market has been analyzed in the report with a detailed study of the key players.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	‘000 Tons
Segment Coverage	Application, End-Use Industry, Country
Countries Covered	United States, Canada, Mexico
Customization Scope	10% Free Customization
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North America Isopropyl Alcohol Market to Reach 1,196,190 Tons by 2032, Impelled by Advent Bio-Based Variants

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