The isopropyl alcohol global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Isopropyl Alcohol Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The isopropyl alcohol market size has grown strongly in recent years. It will grow from <b>$4.5 billion in 2023 to $4.88 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. </b> The growth in the historic period can be attributed to industrial solvent use, disinfectant and sanitizer demand, chemical intermediate, cleaning applications, medical and healthcare uses.
The isopropyl alcohol market size is expected to see strong growth in the next few years. It will grow to <b>$6.96 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. </b> The growth in the forecast period can be attributed to pandemic preparedness and crisis management, environmental concerns and sustainable practices, raw material availability and pricing, consumer health and safety concerns, global industrial growth. Major trends in the forecast period include emergency response preparedness, consumer product formulation, supply chain dynamics, environmentally friendly alternatives, consumer preferences for health and safety.
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Scope Of Isopropyl Alcohol Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Isopropyl Alcohol Market Overview
Market Drivers –
The rising usage of personal care products and cosmetic products is expected to propel the growth of the isopropyl alcohol market going forward. Personal care and cosmetic products refer to any product which is applied to the external part of the body for beautifying and basic grooming such as cleaning body parts, protecting from germs, preventing bad odor, changing in appearance, and keeping body parts in good condition. Isopropyl alcohol is used in various personal care and cosmetic products such as aftershave lotions, bath products, eye, nailcare, haircare, skincare products, and other make-up products due to their different functions which include antifoaming agents, cosmetic astringent, solvent, and viscosity decreasing agent. For instance, according to the survey carried out in 2022 by the Catalina Marketing Corporation, a UK-based media company, most respondents (71%) anticipate spending some amount or more on beauty and enhancement goods in the early 2022 period (when compared with 2020 and 2021) and 19% of people intend to raise their overall spending on personal care and cosmetic products. Therefore, the rising usage of personal care products and cosmetic products is driving the growth of the isopropyl alcohol market.
Market Trends –
Product innovation is a key trend gaining popularity in the isopropyl alcohol market. Major companies operating in the market are focused on research and development for product innovations to sustain their position in the market. For instance, in September 2021, BASF SE, a Germany-based multinational chemical company introduced Ni 3354 E, a new chemical catalyst (high-performance oxo alcohol catalyst) for the efficient production of isopropyl alcohol. Ni 3354 E combines outstanding selectivity with a strong activity which enables manufacturers to operate at high throughput rates and temperatures without suffering a loss in selectivity, enhancing productivity, it has undergone testing and is certified to convert acetone into isopropyl alcohol using an acetone hydrogenation process.
The 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
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Regional Insights –
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.
Key Companies –
Major companies operating in the isopropyl alcohol market report are 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.
Table of Contents
1. Executive Summary
2. Isopropyl Alcohol Market Characteristics
3. Isopropyl Alcohol Market Trends And Strategies
4. Isopropyl Alcohol Market – Macro Economic Scenario
5. Global Isopropyl Alcohol Market Size and Growth
…
31. Global Isopropyl Alcohol Market Competitive Benchmarking
32. Global Isopropyl Alcohol Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Isopropyl Alcohol Market
34. Isopropyl Alcohol Market Future Outlook and Potential Analysis
35. Appendix
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