Covina, Dec. 12, 2022 (GLOBE NEWSWIRE) -- Isopropyl alcohol, also known as 2-propanol, is one of the most common members of the alcohol family of organic compounds, Isopropyl alcohol is used as a disinfecting agent and as an antiseptic agent to apply and clean the skin before injection. In addition, it is used in cosmetics, perfumes, skin and hair products, and in the production of ointments. It is a colorless, flammable liquid with a pungent and musky odor. It is the most common and widely used disinfectant in hospital, pharmaceuticals, clean room, electronics manufacturing and medical device manufacturing. Isopropyl alcohol is well known for causing ocular surface irritation, epithelial keratitis and occasional corneal abrasion. Isopropyl alcohol is mainly used in the pharmaceutical industry. Isopropyl alcohol can be used in small and safe quantities in the capsule or tablet manufacturing process. Isopropyl alcohol is mixed with water for use as a rubbing-alcohol antiseptic, propyl alcohol is n-propyl alcohol or 1-propanol as one of two isomeric alcohols and is used as an intermediate in chemical manufacturing, the other isomer being isopropyl alcohol. Isopropyl alcohol has been used as a general cleaner to remove flux residues after shielding and to remove oil, grease and other handling soils, in addition, it is also used to purify and remove natural products such as animal and vegetable oils, waxes, resins. , flavorings, fats, vitamins etc. Rising incomes, population growth, rapid urbanization, economic growth and changes in consumer lifestyles to drive the market and availability of alternative routes to produce acetone are major market concerns.
The report “Isopropyl Alcohol Market, By Application (Antiseptic & Astringent, Cleaning Agent, Solvent, Chemical Intermediate), By End Use Industry ( Cosmetics & Personal care, Pharmaceutical, Food & beverages, Agrochemicals, Paints & Coatings, Chemical), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030 “
Key Highlights:
- In August 2022, South Korean petrochemical firm SK Geo Centric has started construction with Tokyo-based chemical firm Tokuyama on a facility to produce semiconductor water surface wash materials, in a city about 300 kilometers southeast of Seoul, the company announced in August. SK geo. Centric aims to produce about 30,000 tonnes of semiconductor red high-purity isopropyl alcohol per year through a 50:50 joint venture with Tokuyama called stac from 2024.
- In September 2022, Exxonmobil will sell its stake in the joint venture Era Energy. An affiliate of ExxonMobil has agreed to sell all of its California oil production interests to ExxonMobil, a division of Green Gate Resources E, LLC, and IKAV.
Analyst View:
Isopropyl alcohol is found in numerous household and commercial products, including rubbing alcohol, antifreeze disinfectants, cleaning solutions, skin and hair products, and hand sanitizers. Isopropyl alcohol is the most important ingredient in many chemicals such as detergents, disinfectants and preservatives. Technological developments in isopropyl alcohol and products that are more efficient and use are driving the worldwide isopropyl alcohol market innovation.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on“Isopropyl Alcohol Market, By Application (Antiseptic & Astringent, Cleaning Agent, Solvent, Chemical Intermediate), By End Use Industry (Cosmetics & Personal care, Pharmaceutical, Food & beverages, Agrochemicals, Paints & Coatings, Chemical), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032”
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Key Market Insights from the report:
Isopropyl Alcohol Market accounted for US$ 3.62billion in 2022 and is estimated to be US$ 6.3 billion by 2032 and is anticipated to register a CAGR of 4.57%. The Isopropyl Alcohol Market is segmented based on Application, End-Use Industry and Region.
- Based on Application, Isopropyl Alcohol Market is segmented into Antiseptic & Astringent, Cleaning Agent, Solvent, and Chemical Intermediate.
- Based on End-Use Industry, Isopropyl Alcohol Market is segmented into Cosmetics & Personal care, Pharmaceutical, Food & beverages, Agrochemicals, Paints & Coatings, and Chemical.
- By Region, the Isopropyl Alcohol Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Isopropyl Alcohol Market:
The prominent players operating in the Isopropyl Alcohol Market includes Tokuyama Corporation, Deepak Fertilizers & Petrochemicals Corporation, LG Chem, Kailing Chemical Co., Ltd, Exxon Mobil Corporation, Puritan Products, DongYing Naire Technology, INEOS Enterprises, Mitsui Chemicals, Inc., and LCY Group. The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
Scope of the Report:
- Isopropyl Alcohol Market, By Application
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Antiseptic & Astringent
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Cleaning Agent
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Solvent
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Chemical Intermediate
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Isopropyl Alcohol Market, By End-Use Industry, 2022 – 2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Cosmetics & Personal care
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Pharmaceutical
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Food & Beverages
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Agrochemicals
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
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Some Important Points Answered in this Market Report Are Given Below:
- Explains an overview of the product portfolio, including product development, planning, and positioning
- Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
- Detailed analysis of the market revenue over the forecasted period.
- Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
- Study on the segments that are anticipated to dominate the market.
- Study on the regional analysis that is expected to register the highest growth over the forecast period
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