Isopropyl Alcohol Industry Analysis, Outlook and Forecast 2022-2030
The study conducted by Market Research Future (MRFR) on the Isopropyl Alcohol Market reveals that the market had a valuation of USD 2 billion in 2021, and it is projected to grow with a 4% CAGR during the forecast period. This study also covers several factors that may play a crucial role in taking the market forward.
The
pharmaceutical sector has a huge role as isopropyl alcohol’s use in the
production of sanitizers is increasing. Other industries like personal care and
automotive can impact the production rate as well. In the paint industry, its
intake would grow as the sector is getting traction from several quarters like
automotive and construction.
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Segmentation:
The global isopropyl alcohol market, as read by MRFR analysts, has been segmented into production method, application, and end-use industry to facilitate a deeper reading. By digging deep, the regional market would understand the potential of various factors, and participating companies can explore them later to increase their profit margin.
By production method, the report containing details of the global isopropyl alcohol market encompasses indirect hydration and direct hydration. These segments are expected to fetch substantial revenues.
By application, the report containing various particulars about the global isopropyl alcohol market has been segmented into the cleaning agent, solvents, disinfectants, intermediate, and others. The solvents segment would gain easy access to various industries.
By
end-use industry, the study on the global end-use industry market included
pharmaceuticals, paints & coatings, chemicals, cosmetics & personal
care, and others. The pharmaceutical boom would give the market substantial
growth opportunities.
Regional Analysis:
The Asia Pacific is the region with the maximum market share and control over the global market. China, India, Thailand, Japan, South Korea, and others are expected to register strong growth opportunities for the market as their internal industrial sectors are rapidly developing. This is happening due to the changing faces of economies and interests shown by various global players. The regional market has a booming automotive sector, which is creating demand for the product. Also, in personal care products, Japan and South Korea are making substantial progress. In the pharmaceutical sector, these countries are showing substantial growth and have also emerged as a lucrative business expansion opportunity for international players.
In
North America and Europe, the pharmaceutical sector would use the product to
percolate the market in a greater way. Also, in these two regions, there are
several countries with substantial personal care product industry and
automotive sector. These will help in chalking out a decent growth rate in the
coming years.
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Competitive Landscape:
The
global isopropyl alcohol market is banking on the effective strategies of
several top-notch companies like INEOS Enterprises (Germany), The Dow Chemical
Company (US), China Petroleum & Chemical Corporation (China), Exxon Mobil
Corporation (US), Royal Dutch Shell Plc (Netherlands), Avantor, Inc (US), LG
Chem (South Korea), Jiangsu Denoir Technology Co. Ltd (China), Mitsubishi
Chemical Corporation(Japan), Tokuyama Corporation (Japan), and Carboclor SA
(Argentina).
These companies are known for launching innovations, mergers, acquisitions, collaborations, marketing strategies, expansion plans, and others. MRFR’s profiling reveals a trend about market growth in the coming years, which could be leveraged to plan a proper strategic move.
Industry News:
In
March 2020, researchers revealed that isopropyl alcohol could be the perfect
way to ward off coronavirus. In normal hand sanitizers, isopropyl alcohol is
often missing, which would not be much effective against coronavirus. Isopropyl
alcohol is important in breaking the lipid shield of the virus and killing it.
That is why hand sanitizer makers are now trying to develop products with this
as an effective ingredient.
Market Research Future (MRFR) is an esteemed
company with a reputation of serving clients across domains of information
technology (IT), healthcare, and chemicals. Our analysts undertake painstaking
primary and secondary research to provide a seamless report with a 360 degree
perspective. Data is compared against reputed organizations, trustworthy databases,
and international surveys for producing impeccable reports backed with
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We constantly monitor the market for any fluctuations and update our reports on
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