Global Isopropyl Alcohol market report 2024, Forecast To 2033
4 Mar, 2024
The isopropyl alcohol market has witnessed significant growth, projected to rise from $4.5 billion in 2023 to$4.88 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. This growth is fueled by its industrial solvent usage, demand for disinfectants, and cleaning applications, particularly in healthcare settings. Forecasts suggest continued strong growth, with the market expected to reach $6.96 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. Drivers include pandemic preparedness, environmental concerns, and increasing demand from the healthcare and industrial sectors. Major trends include emergency response preparedness and a shift towards environmentally friendly alternatives.
Global Isopropyl Alcohol Market Key Driver
The isopropyl alcohol market is witnessing expansion due to the rising usage of personal care and cosmetic products worldwide. Isopropyl alcohol finds extensive use in various personal care and cosmetic products due to its versatile properties. Survey data from the Catalina Marketing Corporation suggests a notable increase in spending on personal care and cosmetic products, indicating a growing market demand. Hence, the rising usage of personal care and cosmetic products is driving the growth of the isopropyl alcohol market, reflecting anticipated market sizes for 2023, 2024, and 2028.
Get A Free Sample Of The Global Isopropyl Alcohol Market ReportGlobal Isopropyl Alcohol Market Segments
The global isopropyl alcohol market covered in this report is segmented –
1) By Grade: 70% IPA, 90% IPA
2) By Production Method: Indirect Hydration, Direct Hydration
3) By Application: Antiseptic And Astringent, Cleaning Agent, Solvent, Chemical Intermediate, Other Applications
4) By End-Use: Cosmetics And Personal Care, Pharmaceutical, Food And Beverages, Paints And Coatings, Chemical, Other End-Uses
By Geography: The regions covered in the isopropyl alcohol market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
Asia-Pacific was the largest region in the isopropyl alcohol market in 2023, and is expected to be the fastest-growing region in the forecast period. The regions covered in the isopropyl alcohol market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Isopropyl Alcohol Industry Players
The Dow Chemical Company, INEOS Group Limited, Royal Dutch Shell PLC, ExxonMobil Corporation, LG Chem Ltd., Kellin Chemicals Co. Ltd., LCY Chemical Corp, Zhejiang Xinhua Chemical Co. Ltd., China National Petroleum Corporation, Mitsui Chemicals Inc., ENEOS Corporation, Avantor Inc., Jiangsu Denoir Technology Co. Ltd., Tokuyama Corporation, Mitsubishi Chemical Corporation, Galaxy Chemicals, LyondellBasell Industries Holdings B.V., Carboclor S.A., Sasol Limited, Chang Chun Group, DuPont de Nemours Inc., Mistral Industrial Chemicals, Linde Gas, Ecolab Inc., BASF SE, Honeywell International Inc., ReAgent Chemicals Ltd., Guangfu Fine Chemicals, Petrochemical Corporation of Singapore Private Limited, Fushun Petrochemical Company, Yancheng Super Chemical Technology Co. Ltd.
Get The Full Global Isopropyl Alcohol Market Report
Isopropyl Alcohol Market Overview
Isopropyl alcohol is a colorless, volatile flammable organic compound consisting of carbon, hydrogen, and oxygen molecule in the C3H8O formula usually derived from the reaction of propylene with sulphuric acid followed by hydrolysis and commonly used in making cosmetics, skin, and hair preparations, pharmaceuticals, perfumes, lacquer formulations, dye solutions, antifreeze, soaps, window cleaners due to its antibacterial properties.
Isopropyl Alcohol Global Market Report 2023 provides data on the global isopropyl alcohol market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The isopropyl alcohol market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.