Isopropyl alcohol or 2-propanol is an isomer of 1-propanol. It is a colorless liquid with disinfectant properties. Isopropyl alcohol is a volatile, colorless liquid with sharp musty odor. It has slightly bitter or burning taste. It emits acrid smoke and fumes when heated to decomposition. The chemical formula of isopropyl alcohol is C3H8O. It is used for various purposes at home. It is also employed in different industrial processes and pharmaceutical applications. Various products that are used in homes and hospitals contain isopropyl alcohol. The most common product that contains isopropanol is rubbing alcohol, containing 70% isopropanol or ethanol. Isopropyl alcohol is present in antiseptic wipes and hand sanitizers that can disinfect minor cuts and wounds. It is used in the manufacture of a wide variety of industrial and household chemicals. It is also a common ingredient in chemicals such as antiseptics, detergents, and disinfectants.

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Global Isopropyl Alcohol Market: Drivers

The isopropyl alcohol market is anticipated to expand owing to its wide range of applications in diverse industries. However, oversupply exists in the isopropyl alcohol market. Therefore, the market is anticipated to expand at a sluggish pace during the forecast period.

Based on grade, the isopropyl alcohol market can be segmented into industrial/technical grade, cosmetic grade, and pharmaceutical grade. Industrial/technical is the widely used grade in the isopropyl alcohol market.

In terms of application, the isopropyl alcohol market can be divided into solvent, cleaning agent, intermediate, coating solvent, and others. Isopropyl alcohol dissolves a wide range of non-polar compounds. It also evaporates quickly and leaves negligible oil traces compared to ethanol. It is relatively non-toxic compared to other solvents. Thus, isopropyl alcohol is used extensively as a solvent and cleaning fluid, specifically for dissolving oils.

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Global Isopropyl Alcohol Market: Key Players

Key players operating in the isopropyl alcohol market are Exxon Mobil Corporation, The Dow Chemical Company, Royal Dutch Shell Plc, Clariant AG, Mitsui Chemicals Inc., Perrigo Company plc, China Petroleum & Chemical Corporation, LyondellBasell Industries N.V., INEOS Enterprises, LG Chem, Mitsubishi Chemical Corporation, and Deepak Fertilisers and Petrochemicals Corporation Limited.