Global Isopropyl Alcohol Market Set for Rapid Growth, to reach Value USD 8.22 Billion by 2026

11-Aug-2020 | Zion Market Research

Zion Market Research has published a new report titled “Isopropyl Alcohol Product Market Application (Antiseptic & Astringent, Cleaning Agent, Solvent, and Chemical Intermediate, Others), End-User (Cosmetics and Personal Care, Pharmaceutical, Food and Beverages, Paints and Coatings, Chemical, Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2026” According to the report, global demand for Isopropyl Alcohol market was valued at approximately USD 3.10 Billion in 2019, and is expected to generate revenue of around USD 8.22 Billion by end of 2026, growing at a CAGR of around 5.9% between 2020 and 2026.

Global Isopropyl Alcohol Market Size

Browse the full “Isopropyl Alcohol Market Application (Antiseptic & Astringent, Cleaning Agent, Solvent, and Chemical Intermediate, Others), End-User (Cosmetics and Personal Care, Pharmaceutical, Food and Beverages, Paints and Coatings, Chemical, Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 - 2026.” Report at https://www.zionmarketresearch.com/report/isopropyl-alcohol-market

Isopropyl alcohol is a flammable & colorless chemical compound which is broadly utilized across diverse industries with a concentration of around 70%-99%. It caters as a cleaning agent, solvent, flavoring agent, chemical intermediate, disinfectant & antiseptic, and various other potential uses. Its high performance, , cleansing, sanitizing, economical and preservative characteristics make it widely used in toiletries, cosmetic, and personal care products.

The recent outbreaks of COVID-19 worldwide, sanitizers are one of the most highly used products. The ability of the product to protect the skin from the penetration of viruses or any other microorganisms had increased the demand in the first quarter of 2020. The utilization of isopropyl alcohol in the formulation of these sanitizers globally was extremely high and the European market reflected low availability of the chemical towards the end of the first quarter of 2020. Moreover, during the time of crisis, multinational companies producing isopropyl alcohol and other disinfectants started enhancing their production capabilities to meet the swiftly increasing demand. For instance, in Europe, ExxonMobil Corporation experienced fire hazard at one of the IPA production facilities in early 2020, however, the company quickly recovered from the hazard state and restarted production at their optimal capacity. On the other hand INEOS Corporation which one of the key players in the market has its two IPA production plants in Germany working at full potential. However, increasing demand has caused in a shortage of supply, and travel restrictions have added to the problems of local makers.

Astringent and antiseptic is expected to have highest market share in the upcoming period. The recent pandemic in 2020 has resulted in fast growing demand for the product. The outbreak of virus shall directly lead to regular consumption of sanitizers, personal care products, and other pharmaceutical formulations to maintain personal hygiene worldwide. This is projected to reflect high demand in pharmaceutical as well as personal care product formulation.

Asia Pacific is likely to hold the largest share in terms of volume in the forecast period. The regional movement of isopropyl alcohol is likely to depend on the recent industry trends and economic upturn of countries, post the coronavirus epidemic. Moreover, emerging economies of Asia Pacific, such as Thailand, Japan, and South Korea, as well as other regions are increasingly reliant on processed food items that require preservatives to optimize shelf life, which will support the growth of the market in the region.

Companies in the market compete on the basis of product quality and technology used in product manufacturing. Key players are mainly focusing on R&D, infrastructural development, and expansion of their manufacturing facilities, The report also includes detailed profiles of key players such as Dow Chemical; Mistral Industrial Chemicals; INEOS Corporation; ReAgent Chemicals Ltd.; LyondellBasell Industries; Linde Gas; Ecolab; Royal Dutch Shell; ExxonMobil Corporation.

This report segments the Global Isopropyl Alcohol Market as follows:

Global Isopropyl Alcohol Market: Application Analysis

  • Antiseptic & Astringent
  • Cleaning Agent
  • Solvent
  • Chemical Intermediate
  • Others

Global Isopropyl Alcohol Market: End-User Analysis

  • Cosmetics and Personal Care
  • Pharmaceutical
  • Food and Beverages
  • Paints and Coatings
  • Chemical
  • Others

Global Isopropyl Alcohol Market: By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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