Global Isopropyl Alcohol Market By Application (Process Solvent, Cleaning Agent, Coating Agent, Intermediate), Grade (70% IPA, 90% IPA), Production Method (Direct Hydration, Indirect Hydration, Hydrogenation Of Acetone), End- User (Cosmetic & Personal care, Pharmaceutical, Food & Beverage Industry, Paints & Coatings, Chemical), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Isopropyl Alcohol Market
Global Isopropyl Alcohol Market is expected to rise from its initial estimated value of USD 4.95 billion in 2018 to an estimated value of USD 6.39 billion by 2026, registering a CAGR of 3.25% in the forecast period of 2019-2026. Increasing demand of the product from end- user is the major factor for the growth of this market.
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Market Definition: Global Isopropyl Alcohol Market
Isopropyl alcohol is also known 2- propanol is a first synthetic alcohol which is colorless and flammable and has strong odor. They are miscible in water, ethanol, ether and chloroform and dissolves with ethyl cellulose, polyvinyl butyral, many oils, alkaloids, gums and natural resins. Cosmetics, skin and hair products, perfumes, pharmaceuticals, lacquers, dyes, cleaners, antifreezes and other chemicals usually use this chemical.
- Increasing demand for cosmetics and personal care products is driving the market.
- IPA is widely used as cleaning agent which is another factor driving the growth of this market.
- The availability of alternate ways for the production of acetone is restraining the market.
Segmentation: Global Isopropyl Alcohol Market
- By Application
- Process Solvent
- Cleaning Agent
- Coating Agent
- By Grade
- 70% IPA
- 90% IPA
- By Production Method
- Direct Hydration
- Indirect Hydration
- Hydrogenation Of Acetone
- By End- User
- Cosmetic & Personal care
- Food & Beverage Industry
- Paints & Coatings
Key Developments in the Market:
- In April 2015, TechNova announced the launch of their AniKleen Sol cleaner for removing aqueous overprint varnish (OPV) deposits from rollers and blankets with minimal effort. It works on the principle of chemical action, instead of a mechanical action, to clean water-based OPVs from rollers and blankets. It will make the cleaning process quicker and faster as when applied to the affected area it wets and dissolves the dried OPV deposits.
- In October 2018, 3M announced the launch of their advanced surgical skin prep solution 3M™ SoluPrep™ Film-Forming Sterile Surgical Solution a 2% chlorhexidine gluconate and 70% isopropyl alcohol surgical skin prep that uses 3M technology to help clinicians in the fight against SSIs., It forms a water insoluble film on the skin when copolymer dries and bacteria-killing agent chlorhexidine gluconate (CHG) stay on a patient’s skin and able to withstand the rigors of simulated surgical conditions.
Competitive Analysis: Global Isopropyl Alcohol Market
Global isopropyl alcohol market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of isopropyl alcohol market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Isopropyl Alcohol Market
Few of the major competitors currently working in isopropyl alcohol market are Ami Chemicals, BASF SE, Clariant, Exxon Mobil Corporation, Honeywell International Inc., JXTG Nippon Oil & Energy Corporation, LCY GROUP, LG Chem, LyondellBasell Industries Holdings B.V., Mitsui Chemicals, Inc., Perrigo Company plc, Royal Dutch Shell, DowDuPont, ISU CHEMICAL.
Research Methodology: Global Isopropyl Alcohol Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
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