The global isopropyl alcohol market reached a value of US$ 4 Billion in 2019, registering a CAGR of 5% during 2014-2019. The market value is further anticipated to witness moderate growth during 2020-2025. Isopropyl alcohol is an organic chemical compound with the chemical formula C3H7OH. It is a colourless, volatile and flammable liquid compound which has a bitter taste and strong odour. Although miscible with water, few alcohols, ether and chloroform, isopropyl alcohol is insoluble in salt solutions. It majorly finds application as a solvent in essential oils, resins, alkaloids, gums, cellulose and coatings; de-icing agent in lacquers, liquid fuels and extraction processes; and an antiseptic in anti-freeze compositions. Isopropyl alcohol is also used in the production of glycerol, shellacs, quick drying inks, isopropyl acetate and creosote.
Global Isopropyl Alcohol Market Drivers:
IMARC Group provides an analysis of the key trends in each sub-segment of the global isopropyl alcohol market report, along with forecasts for growth at the global, regional and country-level from 2020-2025. Our report has categorized the market based on region, application, and industry.
Breakup by Application:
Isopropyl alcohol is majorly used as an intermediate in the manufacturing of industrially important chemical compounds such as acetone, glycerol, isopropyl acetate, methyl isobutyl ketone (MIBK), isopropyl esters and isopropyl amines. Apart from this, it is employed as a process solvent, coating solvent and cleaning agent.
Breakup by Industry:
On the basis of industry, the market has been segregated as chemicals, paints and coatings, cosmetics and personal care products, pharmaceutical, and food and beverage. Amongst these, chemicals account for around one-third of the total market, representing the largest segment. Isopropyl alcohol is utilised for manufacturing acetone and its derivatives which are further employed in various industries.
According to the isopropyl alcohol market report, Asia represents the leading market. This can be attributed to the thriving personal care and cosmetics industry in the region which has facilitated the growth of isopropyl alcohol as it is used in the production of skin cleaners, skin lotions, deodorants, nail paints, hair tonics, shampoos, etc. Asia is followed by North America, Europe and South America.
The market is concentrated with the top 5 players accounting for more than half of the entire market. Some of the biggest players operative in the market are:
This report provides a deep insight into the global isopropyl alcohol industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the isopropyl alcohol industry in any manner.
The global isopropyl alcohol market was worth around US$ 4 Billion in 2019.
The spread of the coronavirus disease (COVID-19) has escalated the demand for isopropyl alcohol as it is used in the residential and commercial settings as a disinfectant. It is also utilized in the manufacturing of hand sanitizers, which are gaining widespread adoption to prevent the spread of the virus.
According to the estimates by IMARC Group, the global isopropyl alcohol market will exhibit moderate growth during the next five years.
The increasing application of isopropyl alcohol to remove flux residues after soldering and as a general cleaner to remove oil, grease, and other handling soils represents one of the key factors driving the market.
Favorable policies implemented by governments of several countries to support the utilization of biofuels is positively influencing the sales of isopropyl alcohol as it is a key feedstock in oil extraction and biodiesel production.
Based on the application, the market has been classified into process solvent, cleaning agent, coating solvent, intermediate and others.
On the basis of the industry, the market has been categorized into cosmetics and personal care, pharmaceutical, food and beverage (F&B), paints and coatings, chemical, and other sectors.
Region-wise, the market has been segmented into Asia, Europe, North America, South America and others.
The leading industry players include The Dow Chemical Company, Exxon Mobil Corporation, Shell Chemicals Europe B.V., INEOS Enterprises Ltd. and Super Chemical Technology Co. Ltd.
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