WASHINGTON, Apr. 20, 2023 (GLOBE NEWSWIRE) — The worldwide isopropyl alcohol market is valued at $2.5 billion in 2022 and is projected to succeed in a price of $4.14 billion by 2030 at a CAGR (compound annual development fee) of seven.5%. within the forecast interval 2023-2030.
Market overview
The isopropyl alcohol market is a quickly rising {industry}. Isopropyl alcohol, or IPA or isopropanol, is a colorless, flammable chemical compound with a powerful odor. The expansion of those industries and the necessity for prime quality cleansing and disinfection options are driving the rising demand for isopropyl alcohol.
Vantage Market Analysis analysts predict that the pharmaceutical {industry} in isopropyl alcohol gross sales will account for greater than 45% of whole gross sales by 2030. The pharmaceutical {industry} is predicted to be one of many key drivers of the isopropyl alcohol market. Rising demand for prescribed drugs and rising give attention to healthcare are driving the expansion of the market.
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Market dynamics
Elevated demand from the healthcare sector to assist market growth
The healthcare {industry} is a big client of isopropyl alcohol, used as a disinfectant and antiseptic in hospitals and clinics. The outbreak of the COVID-19 pandemic has additional elevated the demand for isopropyl alcohol within the healthcare sector, particularly for the manufacturing of sanitizers and hand sanitizers. Rising consideration to well being and hygiene requirements and inhabitants development are anticipated to proceed to drive the demand for isopropyl alcohol within the healthcare sector, resulting in market development.
Rising demand for digital units in isopropyl alcohol The {industry} drives the expansion of the market
The electronics {industry} is one other main client of isopropyl alcohol, which is used as a cleansing agent within the manufacture of digital parts and units. Rising demand for digital units, notably in rising markets similar to Asia-Pacific, is driving the expansion of the electronics {industry}, resulting in larger demand for isopropyl alcohol. The rising use of excessive purity isopropyl alcohol within the electronics {industry} and the event of recent applied sciences and functions contribute to the expansion of the market.
High Gamers within the International Isopropyl Alcohol Market
- Dow Chemical (USA)
- Mistral Industrial Chemical compounds (UK)
- INEOS Company (UK)
- ReAgent Chemical compounds Ltd. (USA)
- Lyondell Basell Industries (Netherlands)
- Linde Gasoline (Eire)
- Ecolab (United States)
- Royal Dutch Shell (UK)
- ExxonMobil Company (USA)
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Key traits within the international isopropyl alcohol market
- One pattern that Vantage Market Analysis (VMR) expects to see within the isopropyl alcohol market is the rising demand for bio-based isopropyl alcohol. There’s a rising pattern in direction of utilizing bio-based uncooked supplies to provide isopropyl alcohol. Bio-based isopropyl alcohol is produced from renewable feedstocks similar to biomass, which reduces reliance on petroleum-based feedstocks and helps cut back the carbon footprint of the chemical {industry}. This pattern is being pushed by rising considerations about sustainability and environmental affect, and rising client demand for inexperienced and natural merchandise.
- One other pattern that VMR expects to proceed within the isopropyl alcohol market is the rising demand for prime purity isopropyl alcohol. The demand for prime purity isopropyl alcohol is rising in numerous industries, together with electronics, prescribed drugs and cosmetics. Excessive-purity isopropyl alcohol is required for the manufacture of digital parts and medical units, and to be used in pharmaceutical and beauty formulations. The rising demand for prime quality, dependable merchandise and the rising regulatory necessities for purity and security requirements in numerous industries are driving the rising demand for prime purity isopropyl alcohol.
Key Findings of the Report
- Primarily based on the applying, nearly all of the Isopropyl Alcohol market income is managed by the Astringent & Antiseptic class. Isopropyl alcohol is broadly used as an antiseptic and disinfectant in numerous industries, together with healthcare, pharmaceutical, and cosmetics. It’s also generally used as an astringent in beauty formulations to assist cut back pores and skin oiliness and stop zits.
- Primarily based on the end-use {industry}, nearly all of the IPA market income is managed by the Cosmetics & Private Care class. Isopropyl alcohol is usually used as a solvent, preservative and astringent in cosmetics and private care merchandise together with lotions, hair sprays and deodorants.
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Latest developments within the international isopropyl alcohol market
- In 2022, Exxon Mobil stated it was increasing its providing of healthcare options to satisfy the medical {industry}’s evolving wants for secure and wholesome supplies.
- In 2021, Tokuyama Company and SK Geo Centric Co., Ltd. (SKGC) have introduced a three way partnership to provide 30,000 tpa of PAH in Korea.
Pharmaceutical class of finish use {industry} phase of isopropyl alcohol market anticipated to generate sizable income
Primarily based on the top person, the IPA market is split into Cosmetics & Private Care, Prescription drugs, Meals & Beverage, Agrochemicals, Paints & Coatings, Chemical Trade, and different end-use industries.
The pharmaceutical market was the most important by software and is predicted to carry the highest spot through the forecasted interval. Isopropyl alcohol is broadly used within the pharmaceutical {industry} as a solvent, intermediate and cleansing agent. It’s used to provide numerous pharmaceutical merchandise, together with medication, vaccines and medical units.
The Cosmetics & Private Care class, then again, is predicted to develop strongly. The principle issue driving the isopropyl alcohol market through the forecast interval is the rising demand for beauty and private care merchandise and the rising pattern in direction of pure and natural merchandise.
Asia Pacific Area Anticipated to Generate Big Chunk of International Income in Isopropyl Alcohol Market
The Asia-Pacific area is predicted to keep up its dominance within the isopropyl alcohol market within the coming years, pushed by the rising demand from numerous ultimate consumption sectors and the rising pattern of utilizing bio-based uncooked supplies for manufacturing of isopropyl alcohol.
The Asia-Pacific area is predicted to develop quickest within the isopropyl alcohol market. The expansion of the IPA market within the Asia-Pacific area may be attributed to a number of components together with the presence of numerous manufacturing services, the rising demand for isopropyl alcohol in numerous industries similar to healthcare, cosmetics, and electronics, and the rising pattern of utilizing bio-based uncooked supplies for the manufacturing of isopropyl alcohol. Quickly rising populations and rising disposable revenue in nations like China and India additionally drive the demand for isopropyl alcohol within the area.
Browse tables and market information figures unfold throughout 142 pages and an in-depth abstract on Isopropyl Alcohol Market Forecast Report (2023-2030).
Segmentation of the worldwide isopropyl alcohol market
By software
- Antiseptic and astringent
- Cleansing agent
- Solvent
- Chemical intermediate
- Different functions
By sector of finish use
- Cosmetics and private care
- Pharmaceutical
- Meals and beverage merchandise
- Agrochemicals
- Paints and coatings
- Chemical {industry}
- Different end-use sectors
By Area
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Remainder of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Remainder of Asia Pacific
- Latin America
- Brazil
- Argentina
- Remainder of Latin America
- Center East and Africa
- GCC nations
- South Africa
- Remainder of the MEA
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Scope of the report:
| Report attributes | Particulars |
| Market dimension in 2022 | USD 2.5 billion |
| Income forecast by 2030 | USD 4.14 billion |
| CAGR | 7.5% from 2023 to 2030 |
| Reference 12 months | 2022 |
| Forecast 12 months | from 2023 to 2030 |
| Key gamers | Dow Chemical, Mistral Industrial Chemical compounds, INEOS Company, ReAgent Chemical compounds Ltd., Lyondell Basell Industries, Linde Gasoline, Ecolab, Royal Dutch Shell, ExxonMobil Company |
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The Key Questions Answered in Isopropyl Alcohol Market Report are:
- What’s the present Isopropyl Alcohol market dimension and the way is it anticipated to develop within the coming years?
- What are the primary drivers of isopropyl alcohol demand and the way are they anticipated to evolve over time?
- What are the primary areas of software of isopropyl alcohol and what are the primary traits in every of those areas?
- Who’re the important thing gamers within the Isopropyl Alcohol market and what are their market shares and techniques?
- What are the important thing challenges dealing with the IPA market, similar to regulatory points or provide chain disruptions, and the way are they addressed?
- What are the regional dynamics of the Isopropyl Alcohol market together with provide and demand traits, costs and market share?
- What are the important thing technological developments in isopropyl alcohol manufacturing and the way are they impacting the market?
- What’s the aggressive panorama of the Isopropyl Alcohol market and the way is it anticipated to evolve sooner or later?
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