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The Business Research Company's Isopropyl Alcohol Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LANDON, GREATER LANDON, UNITED KINGDOM, October 8, 2024 /EINPresswire / -- The isopropyl alcohol market has experienced robust growth in recent years, expanding from $4.5 billion in 2023 to $4.88 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. 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.
What Is The Estimated Market Size Of The Global Isopropyl Alcohol Market And Its Annual Growth Rate?
The isopropyl alcohol market is projected to continue its strong growth, reaching to $6.96 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. 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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Growth Driver Of The Isopropyl Alcohol Market
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.
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Which Market Players Are Driving the Isopropyl Alcohol Market Growth?
Key players in the isopropyl alcohol market include 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..
What Are the Emerging Trends Shaping the Isopropyl Alcohol Market Overview?
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.
How Is The Global Isopropyl Alcohol Market Segmented?
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
Geographical Insights: North America Leading The Isopropyl Alcohol Market
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.
Isopropyl Alcohol Market Definition
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 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global isopropyl alcohol market report covering trends, opportunities, strategies, and more
The Isopropyl Alcohol Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on isopropyl alcohol market size, isopropyl alcohol market drivers and trends, isopropyl alcohol market major players, isopropyl alcohol competitors' revenues, isopropyl alcohol market positioning, and isopropyl alcohol market growth across geographies. The isopropyl alcohol market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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