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The global isopropyl alcohol market reached a value of US$ 4.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 5.4 Billion by 2027, exhibiting a CAGR of 4.1% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
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.
IMARC Group provides an analysis of the key trends in each sub-segment of the global isopropyl alcohol market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on 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.
|Base Year of the Analysis||2021|
|Units||Million Tons, US$ Billion|
|Segment Coverage||Application, Industry, Region|
|Region Covered||Asia, North America, Europe, South America, Others|
|Companies Covered||The Dow Chemical Company, Exxon Mobil, Shell Chemicals Europe B.V., INEOS Enterprises Group Limited and Super Chemical Technology Co. Ltd.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: 2499
Five User License: 3499
Corporate License: 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
The global isopropyl alcohol market was valued at US$ 4.3 Billion in 2021.
Sudden outbreak of the COVID-19 pandemic has led to the surging demand for isopropyl alcohol for manufacturing alcohol-based hand sanitizers to combat the spread of coronavirus infection.
We expect the global isopropyl alcohol market to grow at a CAGR of 4.1% during 2022-2027.
The rising adoption of isopropyl alcohol across diverse industries, including paint and coating, automotive, cosmetic, printing, pharmaceutical, etc., is one of the key factors driving the global isopropyl alcohol market.
Based on the industry, the global isopropyl alcohol market can be categorized into chemicals, paints and coatings, cosmetics and personal care products, pharmaceutical, food and beverage, and others. Among these, the chemical industry currently represents the largest segment.
Some of the major players in the global isopropyl alcohol market include Shell Chemicals Europe B.V., The Dow Chemical Company, INEOS Enterprises Group Limited, Exxon Mobil, and Super Chemical Technology Co. Ltd.
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