The global isopropanol market size was estimated to be US$ 4.19 billion in 2020 and is expected to reach US$ 6.7 billion by 2031 at a CAGR of 4.4%. Isopropanol also goes by the name isopropyl alcohol. Isopropyl Alcohol (IPA) is an isomer of propyl alcohol with antibacterial properties.
IPA, additionally called rubbing alcohol, is broadly utilized in planning skincare items, shower items, hair care items, post-shaving astringent moisturizers, cosmetics, and eye care items. Dissolvable uses of isopropanol incorporate inks, surface coatings and handling dissolvable of regular items (like fats, gums, vegetable and creature oils, waxes and so on) It is additionally utilized as a transporter in the creation of food items, family cleaners, and so on.
Although isopropanol is for the most part utilized as a dissolvable, it is likewise utilized as a coolant during the assembling of brew and as a polymerization modifier during the creation of polyvinyl fluoride. It is additionally a typical fastener in synthetic substances like antiseptics, cleansers, and disinfectants. There are different grades and sorts of isopropyl alcohol which are utilized in various applications and businesses. For mechanical utilize the substance of isopropyl alcohol required is more which makes it appropriate for modern busy lifestyle use and for family work, the necessity of isopropyl alcohol is less which makes it appropriate for home use.
The acquiring demand of the item in drug industry for the creation of items, for example, hand sanitizers, cleaning cushions, oral mouthwashes, and ear drops, expanding levels of discretionary cashflow of individuals alongside fast urbanization across the globe, explicit rise in populace, acclivitous demand of item because of its low poisonous-ness and high dissipation rates, rising item use in restorative and individual consideration industry, quickly developing flat screen display and LED are a portion of the major just as essential aspects which are liable to change magnitude of the development of the isopropyl alcohol market during the forecast time span of 2022-2032.
In June 2020, Shell restarted its 75,000 tons/year isopropyl alcohol (IPA) plant in Singapore because of its amplified need for making hand sanitizers. In any case, oversupply exists in the isopropyl alcohol market. Accordingly, the market is hoped-for to extend at an oscitant speed during the illustration time frame of 2022-2032. To fulfill the expanding need for multifunctional recovery treatments along with individual care items, bilobate organizations are chipping away at growing new synthetics to satisfy the developing need for ingredients needed by the corrective medical procedures and personal acre and grooming industry. This is expected to prompt an expansion in the utilization of isopropyl alcohol, which is utilized as a dissolvable during the manufacturing process of medical corrective procedures and discrete other grooming products available.
The substance is additionally used to weaken fundamental oils because of lower thickness, low edge of boiling over, and poisonous-ness. Popularity for the item from dissolvable makers because of these properties is relied upon to stay a central point driving the item demand during 2023-2032.
The makeup and individual care segment caught the second-biggest share during 2020 and is anticipated to observe the quickest development during the forecast period. One of the quickest developing business sectors for isopropyl alcohol is Asia Pacific, wherein China addresses the main area. As isopropyl alcohol is promptly accessible in the area, it very well may be bought in mass quantities at genuinely low costs.
Global Isopropanol Market Value Share Analysis, by Geography (2022)
The report titled “Global Isopropanol Market - Global Market Share, Trends, Analysis and Forecasts, 2023-2032”, wherein 2021 is historic period, 2022 is the base year, and 2023 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the Global Isopropanol Market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
The global Isopropanol market is segmented based on Grade, Application, End use, and region. Based on Grade, the Isopropanol market is segmented into Industrial grade, pharmaceutical grade, Cosmetic grade, Electronic grade, others. Based on Application, the Isopropanol market is segmented into Process solvent, cleaning agents, Coating solvent, Intermediates, Others. Based on End use, the Isopropanol market is segmented into Cosmetic & Personal care, Pharmaceutical, Food & Beverage Industry, Paints & Coatings, Chemical, Others
Based on geography, the Global Isopropanol Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is sub-segmented into the United States, Canada, and Rest of North America. Europe is sub-segmented into Germany, United Kingdom, Italy, France, Spain, and Rest of Europe. Asia Pacific is sub-segmented into China, Japan, India, Australia, and Rest of Asia Pacific. Middle East & Africa is sub-segmented into Saudi Arabia, UAE, South Africa, and Rest of Middle East & Africa. South America is sub-segmented into Brazil and Rest of South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on Global Isopropanol Market. Further, market share of prominent companies in the Global Isopropanol Market would also be estimated. The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, swot analysis, and research and development focus of all the Isopropanol companies.
The Global Isopropanol Market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution. Product portfolio would focus on all the products under the Isopropanol business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the Global Isopropanol Market.
The key players of the Global Isopropanol Market are BASF SE, Mitsui Chemicals, Inc., Royal Dutch Shell Plc., Exxon Mobil Corporation, Clariant, LG Chem Ltd., The Dow Chemical Company, LCY GROUP, Perrigo Company plc, Zibo Nuoao Chemical Co.,Ltd., Ami Chemicals, and others.
Global Isopropanol Market Key Segments:
Based on Grade
Based on Application
Based on End use
The global Isopropanol market was worth US$ 4.19billion in 2020.
The global market for Isopropanol will most likely expand at over 4.4% CAGR through 2032.
Some key players operating in the Isopropanol market include KP.
The end-use segments in Isopropanol market are Cosmetic & Personal care, Pharmaceutical, Food & Beverage Industry, Paints & Coatings, Chemical.
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