Isopropyl Alcohol Market Size, Share, Growth to Reach USD to 5.19 million tonnes by 2030
According to ChemAnalyst report, “Isopropyl Alcohol (IPA) Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, The Isopropyl Alcohol (IPA) market showcased considerable growth as its demand reached 2.98 million tonnes in 2020 and is expected to reach 5.19 million tonnes by 2030, growing at an impressive CAGR of 6.02% in the forecast period until 2030. Rapidly increasing demand for Isopropyl Alcohol due to its increased consumption as an important solvent across pharmaceuticals and healthcare industries coupled with favorable socio-economic factors is likely to boost the IPA market in the next ten years.
Read Full Report Here @ https://www.chemanalyst.com/industry-report/isopropyl-alcohol-ipa-187
Isopropyl Alcohol (IPA), also referred to as Isopropanol or 2-Propanol, is a clear, colorless, and flammable chemical compound that is easily miscible in water, ethanol, ethers, and other solvents. IPA falls into the category of secondary alcohols, which means an alcohol carbon atom is bonded with two other carbon atoms. The production of IPA can be done via three routes, i.e., indirect hydration of Propylene, direct hydration of Propylene, and catalytic hydrogenation of Acetone. Among these, Propylene-based Isopropyl Alcohol production remains the widely used production routes in the current market scenario. At the same time, Acetone-based IPA is on the verge of phasing out as LG Chem Ltd. is the only Acetone-based IPA manufacturer across the globe. Among various grades of IPA available, Industrial grade IPA accounted for the highest share in 2019 as consumption of solvents and chemical intermediates took an upswing during the year.
Read Free Sample Report Online @ https://www.chemanalyst.com/ChemAnalyst/RequestForm
Isopropyl Alcohol (IPA) market is segmented based on end-use, grade, sales channel, and region. On the basis of grade, the IPA market can be divided into Industrial/Technical, Cosmetic, Pharmaceutical, Reagent, Electronic, and others. Among these, the Industrial grade segment held the largest share in the Isopropyl Alcohol market in 2019 as consumption of solvents and chemical intermediates took an upswing during the same year.
Based on various end-use, the Isopropyl Alcohol market is segregated into Pharmaceutical, Cosmetics & Personal Care, Chemicals, Paints & Coatings, Food & Beverages, and Others. The pharmaceutical segment holds the largest share in the market as 60–70% of Isopropyl Alcohol is utilized in the manufacturing of rubbing alcohol, hand sanitizer, and disinfecting pads. As IPA is extremely safe and highly evaporative, it is highly used for sterilization applications in the healthcare sectors.
Isopropyl Alcohol also finds application in many other industries such as industrial and household chemicals. Household chemicals include detergents, disinfectants, antiseptics and others. Increasing use of these chemicals is bolstering the growth of the market. Depending upon several applications, the market is segmented into process solvent, cleaning agent, chemical intermediate, coating solvent, and others. The growing demand for IPA from consumers would create a need for higher consumption of IPA-based derivatives in cosmetics and personal care products.
In 2020, due to the unprecedented outbreak of COVID-19, the demand for Isopropyl Alcohol skyrocketed around the globe. Huge demand for hand sanitizers to stop the spread of the novel coronavirus elevated the demand for IPA across the world. Several end-use industries, including paint and coatings, chemicals, cosmetic and personal care, and others, witnessed negative growth on account of disruption in the supply chain. Moreover, rising infrastructural investments and increasing industrialization across the major economies are expected to create a strong demand for IPA in the forecast period.
Among different regions, the Asia Pacific region is the fastest-growing region in the Isopropyl Alcohol market around the globe and is likely to hold the maximum share in terms of demand in the forecast period until 2030 owing to rapid industrialization, increasing population, and a large consumer base in the region. IPA’s multi-faceted application across several downstream industries is anticipated to increase the demand to unprecedented levels during the forecast period.
Isopropyl Alcohol (IPA) Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, some of the major players operating in Isopropyl Alcohol (IPA) market include The Dow Chemical Company, Exxon Mobil Corporation, LyondellBasell Industries Holdings B.V., LG Chem Ltd., Royal Dutch Shell Plc., Clariant AG, Honeywell International Inc., JXTG Nippon Oil & Energy Corporation, Mitsui Chemicals Inc., United States Petroleum & Chemical Corporation, INEOS Enterprises, Deepak Fertilisers And Petrochemicals Corporation Limited, Indian Petrochemicals Corporation Limited etc., and Others.
“The rapidly increasing demand for disinfectants, hand sanitizers, and detergents is expected to drive the demand for Isopropyl Alcohol in the upcoming years. The demand for IPA is consistently increasing from end-use industries including pharmaceuticals, cosmetic and personal care, paints & coatings, food & beverages, and others, which will further boost the IPA market in the forecast period. Increasing industrialization and growing disposable are some of the other factors that are supporting the growth of the market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
Browse Related Reports
Fatty Alcohol Market Analysis: Plant Capacity, Production, Operating Efficiency, Process, Demand & Supply, Application, Distribution Channel, Regional Demand, 2015-2030
https://www.chemanalyst.com/industry-report/fatty-alcohol-market-634
Ethanol Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030
https://www.chemanalyst.com/industry-report/ethanol-market-594
About Us
ChemAnalyst is a leading provider of chemical commodity prices in more than 12 countries from last 4 Years. The company has emerged as a preferred pricing supplier amongst Procurement Managers and Strategy Professionals globally who wants to track near real time prices of chemicals on its interactive dashboard. Unlike most of its competitors such as ICIS, IHS & S&P Platts the company doesn’t believe in delivering prices in PDF reports. The company has developed proprietary algorithm based online subscription platform in which users can track years of historical prices of more than 250 chemical commodities. In addition, since it’s all online, the users cannot just compare prices across multiple countries but also with other commodities and play with the data by generating multiple graphs to find out amazing insights. The users get access to grade wise CIF, CFR & Ex Works prices at multiple ports in each country.
ChemAnalyst also provides market analysis for more than 1000+ chemical commodities such as Production, Demand, Supply, Plant Operating Rate, Imports, Exports, Suppliers, Customers and much more. The company has created online interactive dashboard in which customers can access all this data instantly with a click of a button. The users will not only be able to analyse historical data for past years but will also get to analyse short term and long-term forecasts for coming years. With the access to local field teams, the company can provide high quality reliable market analysis data for more than 20 countries.
ChemAnalyst is a one stop solution for all the data related needs. We at ChemAnalyst are committed to assist customers worldwide with their data and insights needs using our comprehensive online platform.
For more information, please visit us at www.chemanalyst.com
Contact Us:
Nilesh Vishwakarma
B-44 Sector-57 Noida,
National Capital Region
Tel: 0120-4523948
Mob: +91-8882336899
Email: info@chemanalyst.com
Comments
Post a Comment