Global Isopropyl Market - 2023-2030

Market Overview

The global isopropyl market reached US$ XX million in 2022 and is projected to witness lucrative growth by reaching up to US$ XX million by 2030. The market is growing at a CAGR of 7.90% during the forecast period (2023-2030).

Isopropyl alcohol, often known as 2-propanol, is one of the most widely used chemical molecules in the alcohol family. The first commercially synthesized alcohol was isopropyl alcohol. It may be produced quickly by hydrolyzing propylene in the presence of sulfuric acid. In order to make rubbing alcohol, isopropyl alcohol and water are combined. Other cosmetics, hand lotions and aftershave lotions all include it. In the industrial setting, it is employed as a low-cost solvent for gums, shellacs, medications, cosmetics and medicines, as well as for denaturing ethanol (ethyl alcohol). It aids in preventing the segregation and freezing of a water layer when added to wet gas. Acetone, another significant solvent, may be produced simply from isopropyl alcohol.

Market Dynamics

Growing demand for isopropyl as a solvent

In addition to its use as a sterilizing and cleaning agent, isopropyl alcohol is also used as a solvent in producing APIs because it is a relatively inexpensive and easily available solvent that can extract a wide range of compounds from plant materials. It is also a good solvent for many synthetic organic compounds and can dissolve many resins, gums and waxes.

Furthermore, the increasing demand for isopropyl alcohol in the pharmaceutical industry is also driven by the growing use of it as a topical antiseptic and a hand sanitizer. The COVID-19 pandemic has highlighted the importance of hand hygiene. It has led to increased use of hand sanitizers, many of which contain isopropyl alcohol as the active ingredient.

Stringent environmental regulations

governments worldwide have imposed stringent regulations on the use and disposal of isopropyl alcohol, making it difficult for manufacturers to obtain the necessary permits and raising production costs. Several countries have regulations in place limiting the maximum levels of VOC emissions that can be released during production, which can limit companies' ability to produce isopropyl alcohol. Furthermore, regulations governing hazardous waste disposal can raise production costs, making it more difficult for companies to produce and sell isopropyl alcohol at competitive prices. The above regulations may make it more difficult for manufacturers to operate in certain regions and reduce the global availability of isopropyl alcohol.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

The global isopropyl market is segmented based on application, end-user and region.

Urbanization and rising disposable income boost the market share of the cosmetic and personal care segment

Cosmetic and personal care items hold the second largest share in the global isopropyl market due to the growing popularity of products such as aftershave lotions, bath products, eye and other makeup and nail, hair and skin care products containing isopropyl alcohol. The antifoam prevents foam from forming during production and reduces foaming in liquid end products. Due to rising consumer disposable incomes, increased awareness of natural and organic products and increased consumer spending on upscale personal care products. The global cosmetics and personal care products market will experience major growth during the forecast period.

Geographical Analysis

The strong presence of major players and increased awareness about the use of eco-friendly products

The increasing number of healthcare facilities across Asia-Pacific is the major factor that boosts the demand for isopropyl. Moreover, emerging economies of Asia-Pacific, such as India, Thailand, Japan and South Korea, are increasingly dependent on processed food items that require preservatives to optimize shelf life. Isopropyl alcohol is a widely used food preservative and coloring agent. Therefore, the demand for the substance is projected to grow steadily in these countries over the forecast period.

Competitive Landscape

The major global players in the market include ExxonMobil, DOW Chemical Company, Evonik Industries, Formosa Plastics Corporation, LyondellBasell Industries, Mitsubishi Chemical Corporation, Nippon Shokubai Co., Ltd ReAgent Chemicals Ltd., Saudi Acrylic Monomer Company Limited and INEOS Corporation.

Why Purchase the Report?

• To visualize the global isopropyl market segmentation based on application, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of isopropyl market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global isopropyl market report would provide approximately 53 tables, 50 figures and 195 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies