Isopropyl Alcohol Market Report 2019, Price Trends, Global Industry Analysis, Opportunities

by IVO Smith Business Analyst

According to the global isopropyl alcohol market report by IMARC Group, the market reached a value of US$ 3.8 Billion in 2018, registering a CAGR of 5.7% during 2011-2018. The market value is further anticipated to reach US$ 4.8 Billion by 2024, exhibiting a CAGR of nearly 4% during 2019-2024.

Isopropyl alcohol is a propyl isomer which exhibits disinfectant properties and is used for the production of acetone as well as its derivatives. It is a volatile, flammable and colourless liquid having a strong odour and is miscible in water, ether, ethanol and chloroform. Isopropyl alcohol can not be mixed with salt solutions owing to which it can be separated from aqueous solutions by adding sodium chloride to them. Earlier, it was primarily used for the oxidation to acetone for the preparation of Cordite which is a smokeless propellant. Whereas, now isopropyl alcohol is utilised in the extraction process as well as in the form of a de-icing agent for lacquers and liquid fuels.

One of the major factors which is driving the isopropyl alcohol market is the increasing use of isopropyl alcohol as a solvent across numerous industries including cleaning, pharmaceutical, and paints and coatings among others. There has also been an increase in the demand for the development of flex cars and biofuels in order to promote the safety of environment which has, in turn, contributed towards the propelled demand for isopropyl alcohol across the globe. Moreover, isopropyl alcohol can be used for purifying and extracting natural products such as animal and vegetable oils, waxes, resins, flavourings, fats and vitamins, etc., which is positively influencing the market growth. However, the supply of raw materials used for the production of isopropyl alcohol is fluctuating due to which their prices are consistently rising. This remains as a key hindrance towards the growth of the market.

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Isopropyl Alcohol Market Segmentation:

Performance of Key Regions

1. Asia

2. North America

3. Europe

4. South America

5. Others

Market Breakup by Application

1. Process Solvent

2. Cleaning Agent

3. Coating Solvent

4. Intermediate

5. Others

Market Breakup by Industry

1. Cosmetic and Personal care

2. Pharmaceutical

3. Food and Beverage

4. Paints and Coatings

5. Chemical

6. Others

Competitive Landscape

The competitive landscape of the market has also been examined with some of the key players being Shell Chemicals, DOW Chemicals, Exxonmobil Chemical Company, Sasol Olefins and Chang Chun Plastics Co Ltd.

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