Isopropyl Alcohol Market Outlook
Isopropyl alcohol represents an organic chemical compound that is a volatile, colorless, and flammable liquid and has a bitter taste and strong odor. Although miscible with few alcohols, water, ether, and chloroform, it is insoluble in salt solutions.
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.
Isopropyl alcohol finds extensive applications as a solvent in resins, alkaloids, essential oils, gums, cellulose, and coatings, de-icing agent in lacquers, liquid fuels, and extraction processes, and an antiseptic in anti-freeze compositions. In line with this, it is also widely used in the production of shellacs, quick-drying inks, glycerol, isopropyl acetate and creosote, etc.
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Isopropyl Alcohol Market Trends:
The escalating demand for alcohol-based hand rubs and sanitizers, on account of the sudden outbreak of the COVID-19 pandemic, is primarily driving the isopropyl alcohol market. Additionally, the inflating disposable income levels of individuals and the widespread adoption of this compound for purifying and extracting natural products, such as animal and vegetable oils, resins, waxes, flavorings, fats, vitamins, etc., are further catalyzing the market growth. Besides this, the growing utilization of isopropyl alcohol in biodiesel production, owing to the expanding automotive sector and enhanced focus on sustainable development, is acting as another significant growth-inducing factor.
Moreover, it is also used as a general cleaner for removing oil, grease and handling soil, as well as to remove flux residues after soldering, which is positively influencing the global market. Apart from this, the inflating popularity of isopropyl alcohol-based products across the personal care industry is bolstering the market growth. Furthermore, the development of a more efficient technique, such as catalytic hydrogenation of acetone, is projected to fuel the isopropyl alcohol market over the forecasted period.
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Note: In this report you will get detailed analysis of the market, growth analysis graphs, historical period analysis, forecast period analysis, major market segmentation, top leading key players of the market, table of content, list of figures, and list of tables.
Competitive Landscape with Key Players:
The market is concentrated with the top 5 players accounting for more than half of the entire market.
- The Dow Chemical Company
- Exxon Mobil Corporation
- Shell Chemicals Europe B.V.
- INEOS Enterprises Ltd.
- Super Chemical Technology Co. Ltd.
Key Market Segmentation:
The report has categorized the market based on application and industry.
Breakup by Application:
- Process Solvent
- Cleaning Agent
- Coating Solvent
- Intermediate
- Others
Breakup by Industry:
- Cosmetic and Personal care
- Pharmaceutical
- Food and Beverage
- Paints and Coatings
- Chemical
- Others
Regional Insights:
- Asia
- North America
- Europe
- South America
- Others
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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