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Report Overview
The global isopropyl alcohol market reached a value of USD 4.67 Billion in 2023. The market is further expected to grow at a CAGR of 4.30% in the forecast period of 2024-2032 to attain USD 6.82 Billion by 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Isopropyl Alcohol Market Share
Isopropyl alcohol is registered as an antimicrobial, bactericide, fungicide, and virucide. The heightened demand for cleaning solutions and disinfectants in the healthcare sector is driving the market growth of isopropyl alcohol. Isopropyl alcohol is used in combination with ethyl alcohol or N-propyl alcohol in disinfectants, which include hand sanitisers, surface cleaners, and clinical instrument cleaners. As per the isopropyl alcohol market dynamics and trends, the demand for isopropyl alcohol is currently growing more in the developing countries due to the growing hygiene awareness among individuals across the region, which is driving the demand for surface cleaning and personal hygiene products. In 2020, amid the COVID-19 outbreak, the demand for hygiene products surged, which, in turn, resulted in the increased production of isopropyl alcohol. For instance, in April 2020, ExxonMobil announced the increased production of raw materials for medical masks, hand sanitisers, and gowns. In this regard, the monthly production of isopropyl alcohol was increased by up to 3,000 tonnes to produce around 50 million bottles of hand sanitisers to meet the growing needs.
Further, the market for isopropyl alcohol is anticipated to be supported by the demand for isopropyl in solvent applications. It is used as a solvent for essential oils, alkaloids, gums, resins, coatings and cellulose, lacquers, and in extraction processes. It is also used as an inert solvent to reduce the flammability of coatings during storage and transportation, and as an additive in inks and thinner for water-based paints. These factors are anticipated to bolster the isopropyl alcohol market revenue in the coming years.
Isopropyl Alcohol Market Report Snapshots
Isopropyl Alcohol Market Growth
Isopropyl Alcohol Market Share
Isopropyl Alcohol Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The major drivers of the market include the growing economy, growing hygiene awareness, existing downstream specialty chemical marketspace, increasing healthcare facilities, thriving cosmetics and personal care industry, elevating income levels, and technological advancements.
The growing demand in pharmaceutical and solvent applications and utilisation of isopropyl alcohol in the formulation of sanitisers are the key industry trends propelling the market's growth.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major applications include process solvent, cleaning agent, intermediate, and coating solvent, among others.
The major players in the industry are Royal Dutch Shell plc, The Dow Chemical Company, Exxon Mobil Corporation, Sasol Limited, and Chang Chun Group, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124