Global IPA Industry to Benefit from Bullish Market Sentiments
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Isopropyl alcohol (IPA), one of the most demanded chemicals
these days, has recorded several weeks hike in its international prices which
were heard up to almost double this week. The astonishing increase in the IPA
prices has been attributed to its skyrocketing demand as a key disinfectant in
hand sanitizers and alcohol wipes. CDC has recommended the use of alcohol-based
hand sanitizers with more than 60% ethanol or 70% isopropanol in its
composition that is effective against the viruses that lie under the category
of Covid-19.
The outbreak of pandemic was a tipping point in the IPA
market after WHO recommended the use of alcohol-based hand rubs as one of the
means for rapidly and effectively inactivating potentially harmful
microorganisms transmitted through hands. Since the declaration, alcohol -based
hand sanitizers have become the most sought-after product in the global
markets. As the global demand outstrips the supply, the disinfectant chemicals
manufacturers are boosting their sanitizer production in their fight against
Covid-19.
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Market Study
In FY18, the total annual demand for IPA in India was about
135KT and touched 170KT by FY19. About 80 per cent of IPA demand in India is
driven by the pharmaceutical sector with about 40% of the IPA requirement being
met through imports to fulfil the high demand from the growing pharmaceuticals
sector. Total demand for Isopropyl Alcohol in India, which in FY20 stood at
about 200KTPA has been shot up by around 25 per cent since the start of March
this year. This sudden surge in demand for IPA is backed by high demand for
sanitizers on rising concerns for cleanliness and personal hygiene as a
preventive measure for Covid-19. Isopropyl Alcohol (IPA), the premier compound
used in sanitizers, is being manufactured in India solely by Deepak Fertilizers
having a capacity of around 70KTPA. The company satisfies about 57% of the
country’s total demand with rest of the demand being met through imports.
IPA Pricing Analysis
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