Covina, April 03, 2023 (GLOBE NEWSWIRE) -- Isopropanol or isopropyl alcohol is a clear, colorless liquid that is a major ingredient in rubbing alcohol as well as pharmaceuticals found in regular household items such as cleaners, disinfectants, and hand sanitizers. Isopropyl alcohol is mixed with water for use as a rubbing-alcohol antiseptic, used in aftershave lotions, hand lotions, and other cosmetics Isopropanol or isopropyl alcohol is a clear, colorless liquid that is a key ingredient in rubbing alcohol as well as a medicine found in regular household products such as cleaners, disinfectants, and hand sanitizers. Isopropyl alcohol is mixed with water for use as a rubbing-alcohol antiseptic, used in aftershave lotions, hand lotions, and other cosmetics. Isopropanol it is mainly produced by combining water and propane in a hydration reaction or by hydrogenating acetone, there are two routes to the hydration process, and both processes require isopropyl alcohol to be separated from water and other byproducts by distillation. Propane is one of the basic materials for making isopropyl alcohol, a compound that comes from fossil fuels petroleum, natural gas, and even coal. Propane is one of the byproducts Isopropyl alcohol is said to be the first petrochemical, it can be produced by three different methods namely indirect hydration of propylene, direct hydration of propylene and catalytic hydrogenation of acetone. Cosmetics and personal care and pharmaceuticals industries are expected to increase the demand for isopropyl alcohol in the coming years.
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.
Market Segmentation:
- By Application - Antiseptic & Astringent, Cleaning Agent, Solvent, Chemical Intermediate
- By End Use Industry - Cosmetics & Personal care, Pharmaceutical, Food & beverages, Agrochemicals, Paints & Coatings, Chemical
Regional scope:
- North America - U.S., Canada
- Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe
- Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific
- Latin America - Brazil, Mexico, Argentina, Rest of Latin America
- Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
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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:
- 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.
- 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.
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
Questions answered by isopropyl alcohol Market:
- What is the current market size and growth rate?
- What are the key market trends and market dynamics?
- Who are the major players in the market and what is their market share?
- What is the competitive landscape like in the market?
- What are the major drivers and restraints affecting the market?
- What are the growth opportunities in the market?
- What are the regional and local market conditions and consumer behavior?
- What is the market size and growth forecast for different regions and countries?
- What is the impact of government regulations and policies on the market?
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- FORMAT:(PDF)
- NO OF PAGES:170
- BASE YEAR: 2022
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