According to the recent report by IMARC Group, titled “North America Isopropyl Alcohol Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the North America isopropyl alcohol market size reached around 871,861 Tons in 2019. 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.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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 exceed 1.0 Million Tons by 2025, exhibiting a CAGR of 2.7% during the forecast period (2020-2025).
- Based on the type, the market has been segmented into process solvents, cleaning agents, coating solvents, intermediates, and others.
- On the basis of the end use, the market has been classified into cosmetics and personal care, pharmaceuticals, food and beverages, paints and coatings, chemicals, and 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.
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