DUBLIN, April 11, 2019 /PRNewswire/ -- The "Isopropyl Alcohol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.
The global isopropyl alcohol market reached a value of US$ 3.8 Billion in 2018, registering a CAGR of 5.7% during 2011-2018. The market value is further anticipated to reach US$ 4.8 Billion by 2023, exhibiting a CAGR of nearly 4% during 2019-2024.
Isopropyl alcohol is an organic chemical compound with the chemical formula C3H7OH. It is a colourless, volatile and flammable liquid compound which has a bitter taste and strong odour. Although miscible with water, few alcohols, ether and chloroform, isopropyl alcohol is insoluble in salt solutions. It majorly finds application as a solvent in essential oils, resins, alkaloids, gums, cellulose and coatings; de-icing agent in lacquers, liquid fuels and extraction processes; and an antiseptic in anti-freeze compositions. Isopropyl alcohol is also used in the production of glycerol, shellacs, quick drying inks, isopropyl acetate and creosote.
Global Isopropyl Alcohol Market Drivers:
Isopropyl alcohol finds diverse applications in several downstream industries like paint and coating, automotive, cosmetic, printing, pharmaceutical, etc. Economic reforms have resulted into a rise in the disposable incomes and changes in lifestyle of the consumers across the globe, thereby catalysing the growth of these industries.
Isopropyl alcohol has been used to remove flux residues after soldering and as a general cleaner to remove oil, grease, and other handling soils. Apart from this, it is also used for purifying and extracting natural products such as animal and vegetable oils, waxes, resins, flavourings, fats, vitamins, etc., which is positively influencing the market growth.
One of the fastest growing markets for isopropyl alcohol is Asia Pacific, wherein China represents the leading region. As isopropyl alcohol is readily available in the region, it can be purchased in bulk quantities at fairly low prices. Additionally, thriving cosmetics and personal care industry, rapid economic growth and elevating income levels have resulted into a heightened demand for isopropyl alcohol-based products.
Isopropyl alcohol is stable if it is properly handled and stored in adequate conditions. In addition to this, it has a shelf-life of two years from the manufacturing date. The chemical makeup and potency of isopropyl alcohol remain stable for two years in its original closed container.
The most popular technique for producing isopropyl alcohol on a commercial level is the indirect hydration of propylene. Demerits of this method such as high energy cost, corrosive condition and pollution problems had led to the development of a more efficient technique, called catalytic hydrogenation of acetone. Such technological advancements in the production have empowered the industry with higher yield rates and production of high-purity grades, thereby generating opportunities for new applications of isopropyl alcohol.
Breakup by Application:
Isopropyl alcohol is majorly used as an intermediate in the manufacturing of industrially important chemical compounds such as acetone, glycerol, isopropyl acetate, methyl isobutyl ketone (MIBK), isopropyl esters and isopropyl amines. Apart from this, it is employed as a process solvent, coating solvent and cleaning agent.
Breakup by Industry:
On the basis of industry, the market has been segregated as chemicals, paints and coatings, cosmetics and personal care products, pharmaceutical, and food and beverage. Amongst these, chemicals account for around one-third of the total market, representing the largest segment. Isopropyl alcohol is utilised for manufacturing acetone and its derivatives which are further employed in various industries.
According to the isopropyl alcohol market report, Asia represents the leading market. This can be attributed to the thriving personal care and cosmetics industry in the region which has facilitated the growth of isopropyl alcohol as it is used in the production of skin cleaners, skin lotions, deodorants, nail paints, hair tonics, shampoos, etc. Asia is followed by North America, Europe and South America.
The market is concentrated with the top 5 players accounting for more than half of the entire market. Some of the biggest players operative in the market are:
- The Dow Chemical Company
- Exxon Mobil Corporation
- Shell Chemicals Europe B.V.
- INEOS Enterprises Ltd.
- Super Chemical Corporation
Key Topics Covered:
2 Scope and Methodology
2.1 Objectives of the Study
2.3 Data Sources
2.4 Market Estimation
2.5 Forecasting Methodology
3 Executive Summary
4.2 Physical and Chemical Properties
4.3 Key Industry Trends
5 Global Isopropyl Alcohol Industry
5.1 Market Overview
5.2 Market Performance
5.2.1 Volume Trends
5.2.2 Value Trends
5.3 Price Analysis
5.2.1 Key Price Indicators
5.2.2 Price Structure
5.2.2 Price Trends
5.4 Market Breakup by Region
5.5 Market Breakup by Application
5.6 Market Breakup by Industry
5.7 Market Forecast
5.8 SWOT Analysis
5.9 Value Chain Analysis
5.9.1 Raw Material Procurement
5.10 Porter's Five Forces Analysis
5.11 Trade Data
5.12 Key Market Drivers and Success Factors
6 Performance of Key Regions
6.2 North America
6.4 South America
7 Market Breakup by Application
7.1 Process Solvent
7.2 Cleaning Agent
7.3 Coating Solvent
8 Market Breakup by Industry
8.1 Cosmetic and Personal care
8.3 Food and Beverage
8.4 Paints and Coatings
9 Competitive Landscape
9.1 Competitive Structure
9.2 Production Capacity of Key Players
9.3 Key Player Profiles
9.3.1 The Dow Chemical company
9.3.2 Exxon Mobil
9.3.3 Shell Chemicals Europe B.V.
9.3.4 INEOS Enterprises Group Limited
9.3.5 Super Chemical Corporation
10 Isopropyl Alcohol Manufacturing Process
10.1 Product Overview
10.2 Chemical Reactions Involved
10.3 Manufacturing Process
10.4 Detailed Process Flow
10.5 Raw Material Requirement
10.6 Mass Balance and Feedstock Conversion Rate
11 Isopropyl Alcohol Feedstock Market Analysis
11.1.1 Market Performance
188.8.131.52 Volume Trends
184.108.40.206 Value Trends
11.1.2 Price Trends
11.1.3 Market Breakup by Region
11.1.4 Market Breakup Application
11.1.5 Key Suppliers
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