The Isopropyl Alcohol Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Isopropyl Alcohol Global Market Report 2024, The isopropyl alcohol market size has grown strongly in recent years. It will grow from $4.5 billion in 2023 to $4.88 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to industrial solvent use, disinfectant and sanitizer demand, chemical intermediate, cleaning applications, medical and healthcare uses..
The isopropyl alcohol market size is expected to see strong growth in the next few years. It will grow to $6.96 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to pandemic preparedness and crisis management, environmental concerns and sustainable practices, raw material availability and pricing, consumer health and safety concerns, global industrial growth.. Major trends in the forecast period include emergency response preparedness, consumer product formulation, supply chain dynamics, environmentally friendly alternatives, consumer preferences for health and safety..
The rising usage of personal care products and cosmetic products is expected to propel the growth of the isopropyl alcohol market going forward. Personal care and cosmetic products refer to any product which is applied to the external part of the body for beautifying and basic grooming such as cleaning body parts, protecting from germs, preventing bad odor, changing in appearance, and keeping body parts in good condition. Isopropyl alcohol is used in various personal care and cosmetic products such as aftershave lotions, bath products, eye, nailcare, haircare, skincare products, and other make-up products due to their different functions which include antifoaming agents, cosmetic astringent, solvent, and viscosity decreasing agent. For instance, according to the survey carried out in 2022 by the Catalina Marketing Corporation, a UK-based media company, most respondents (71%) anticipate spending some amount or more on beauty and enhancement goods in the early 2022 period (when compared with 2020 and 2021) and 19% of people intend to raise their overall spending on personal care and cosmetic products. Therefore, the rising usage of personal care products and cosmetic products is driving the growth of the isopropyl alcohol market.
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The isopropyl alcohol market covered in this report is segmented –
1) By Grade: 70% IPA, 90% IPA
2) By Production Method: Indirect Hydration, Direct Hydration
3) By Application: Antiseptic And Astringent, Cleaning Agent, Solvent, Chemical Intermediate, Other Applications
4) By End-Use: Cosmetics And Personal Care, Pharmaceutical, Food And Beverages, Paints And Coatings, Chemical, Other End-Uses
Product innovation is a key trend gaining popularity in the isopropyl alcohol market. Major companies operating in the market are focused on research and development for product innovations to sustain their position in the market. For instance, in September 2021, BASF SE, a Germany-based multinational chemical company introduced Ni 3354 E, a new chemical catalyst (high-performance oxo alcohol catalyst) for the efficient production of isopropyl alcohol. Ni 3354 E combines outstanding selectivity with a strong activity which enables manufacturers to operate at high throughput rates and temperatures without suffering a loss in selectivity, enhancing productivity, it has undergone testing and is certified to convert acetone into isopropyl alcohol using an acetone hydrogenation process.
The isopropyl alcohol market report table of contents includes:
- Executive Summary
- Isopropyl Alcohol Market Characteristics
- Isopropyl Alcohol Market Trends And Strategies
- Isopropyl Alcohol Market – Macro Economic Scenario
- Global Isopropyl Alcohol Market Size and Growth
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- Global Isopropyl Alcohol Market Competitive Benchmarking
- Global Isopropyl Alcohol Market Competitive Dashboard
- Key Mergers And Acquisitions In The Isopropyl Alcohol Market
- Isopropyl Alcohol Market Future Outlook and Potential Analysis
- Appendix
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