Global Isopropyl Alcohol Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027. Increasing growth of pharmaceutical industries, rising demand from end-user industries and growing hygiene awareness are some of the major factors driving the growth of Global Isopropyl Alcohol Market.
Global Isopropyl Alcohol Market is valued at USD 2687.8 Million in 2020 and expected to reach USD 4636.4 Million by 2027 with a CAGR of 8.1% over the forecast period.
Isopropyl alcohol is a colourless and flammable chemical compound with a strong odour. The simplest example of a secondary alcohol is an isopropyl group linked to a hydroxyl group, in which the alcohol carbon atom is bonded to two other carbon atoms. It is a structural isomer of ethyl methyl ether and 1-propanol. It is a common ingredient in antiseptics, disinfectants, and detergents. It is utilized in the production of a wide range of industrial and household chemicals. Isopropyl alcohol is found in a wide range of cleaning goods, including medical swabs, clean room wipes, disinfectant solutions, detergents, and more. It's also a stand-alone product, available in sprayers and gallon bottles in supermarket and hardware stores, as well as from specialist providers like SOS Clean room. Because it evaporates almost fast, is relatively non-toxic in comparison to other solvents, and leaves no trace oils on a surface, IPA performs exceptionally well as a solvent. Isopropyl alcohol is a common constituent in fuel additives in the automotive industry because it effectively dissolves any water that may be floating in a gasoline tank. It's also utilized to drain braking systems of surplus brake fluid.
During the Covid-19 pandemic, the pandemic has shown a decline impact on a variety of industries, including chemicals, paints and coatings, and others. As a result, isopropyl alcohol consumption is also reduced. Isopropyl alcohol's main applications are in the industries such as; pharmaceuticals, personal care, and cosmetics. Because of long periods of lockdowns, worldwide travel boycotts, and retail business closing, deals, buys, and utilization have fallen across numerous beauty segments. The continuing COVID-19 pandemic has changed these industries landscape. However, isopropyl alcohol is used in hand sanitizers, disinfectants and other cleaning agents due to its antibacterial which has shown a positive impact on the market growth up to some extent.
Global isopropyl alcohol market report is segmented on the basis of application, end-user and region & country level. Based upon application, global isopropyl alcohol market is classified into cleaning agent, chemical intermediate, disinfectant and others. Based upon end-user, the market is divided into food and beverage, pharmaceutical, cosmetic & personal care, medical, paints and coatings and others.
The regions covered in global isopropyl alcohol market report are North America, Europe, Asia-Pacific, Latin America and Rest of the World. On the basis of country level, the market of global isopropyl alcohol is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, India, Japan, South East Asia, Middle East Asia (UAE, Egypt, Saudi Arabia) GCC, Africa, etc.
Some key players of global isopropyl alcohol market are Exxon Mobil Corporation, Dow Chemical, Hefei TNJ Chemical Industry Co. Ltd., Mistral Industrial Chemicals, INEOS Corporation, ReAgent Chemicals Ltd., LyondellBasell Industries, Linde Gas, Ecolab, Royal Dutch Shell and others.
September 2nd, 2020; to meet global demand, Monarch Brands, a leading producer of Janitorial, Institutional, and Retail Textiles developed a new range of 70% Isopropyl Alcohol pre-soaked wipes. For several medical and specialized industries, isopropyl alcohol is the most common and commonly utilized disinfectant. Where antiseptic conditions are required, it is used by medical institutions, pharmaceutics, hospitals, clean rooms, and electronics manufacturers. Businesses must protect their employees and consumers in order to survive and grow under the new standard. The necessity of cleaning and disinfection has been recognized by the global community. Monarch Brands has a history of creating products that fit the changing requirements of the community, and they are excited to introduce the first in a new line of disinfecting and sanitizing products. Up to 300x* the weight of the raw material has been saturated with isopropyl alcohol solution. Wipes are 50 GSM thick, so they won't fall apart. Wipes with a surface area of 6"" x 8"" are large enough to clean a large area.
The demand for isopropyl alcohol from pharmaceutical industries is increasing for the production of products such as hand sanitizers, oral mouth washers, disinfecting pads and eardrops. For example, Mankind Pharma, a pharmaceutical company, has entered the personal hygiene category with the launch of a new product under the Safe kind brand called ""Safekind toilet seat disinfection spray.""The product contains IPA (10% w/w) and BKC (Benzalkonium chloride), which eliminates 99.9% of germs and aids in providing a fresh, clean, and germ-free toilet experience. In addition, the growing hygiene awareness among people is also supplementing the market growth. People are becoming aware of personal hygiene due to increase in diseases and outbreak of Covid-19. According to WHO, there are total 175,306,598 confirmed cases of covid-19 in world and the number is increasing. Due to this situation WHO suggested to use hand sanitizers and to keep personal hygiene. Isopropyl alcohol is fast antibacterial against bacteria, fungi, and viruses. Isopropyl alcohol is used in cleaning agents, disinfectants, hand sanitizers and other products. As a result demand for hand sanitizers is increasing in turn demand for isopropyl alcohol is increasing.
Furthermore, isopropyl alcohol is a common ingredient in medical products such as rubbing alcohol, hand sanitizer, and surgery wipes. For instance; according to the CDC (Centers for Disease Control and Prevention) to reduce the spread of Covid-19, it suggests use of 70% isopropyl alcohol hand rubbing sanitizers in healthcare environments. However, high production cost of isopropyl alcohol may hamper isopropyl alcohol market growth. In spite of that, increasing number of viral diseases and increasing number of product offerings may offer more opportunities for the global isopropyl alcohol market to expand.
Asia Pacific is expected to show a lucrative growth in the the global isopropyl alcohol market within the forecast period due to the factors such as the increasing demand of isopropyl alcohol from personal care, pharmaceutical and chemical industry in this region. According to the FDA, 13.4 percent of all U.S. drug imports by import line originated straight from China in fiscal year 2018. China is now the second-largest exporter of pharmaceuticals and biologics to the U.S. behind Canada. For instance, as per the data by the General Administration of Customs, China exported 105 kilotons of isopropyl alcohol in 2018. In 2019, the China's total isopropyl alcohol exports were 167 kilotons, up 60% over the previous year. China's current isopropyl alcohol production capacity is at 840 kilotons.
North America is anticipated to witness a significant growth in global isopropyl alcohol market owing to the increasing growth of pharmaceutical industry and medical sector and growing demand of sanitizers and personal care products in this region. According to the European Federation of Pharmaceutical Industries and Association, the North America accounted for 48.9% of global pharmaceutical sales in 2018, compared to 23.2 percent in Europe. According to the U.S. Bureau of Labor Statistics, in the United States personal care and products grew by 2.3% in 2018-19.
Middle East and Africa
|Historical data||2015 - 2020|
|Forecast Period||2021 - 2027|
|Market Size in 2020:||USD 2687.8 Million|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2027:||USD 4636.4 Million|
|Tables, Charts & Figures:||175|
|Key Players/Companies||Exxon Mobil Corporation, Dow Chemical, Hefei TNJ Chemical Industry Co. Ltd., Mistral Industrial Chemicals, INEOS Corporation, ReAgent Chemicals Ltd., LyondellBasell Industries, Linde Gas, Ecolab, Royal Dutch Shell and others|
|Segments Covered||By Application, By End-User|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
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