Isopropyl Alcohol Market Overview 2017, Demand by Regions, Types and Analysis of Key Players
The global isopropyl alcohol market has witnessed a positive growth in recent years, owing to the applications of isopropyl alcohol in various industries such as chemicals and materials, pharmaceuticals, cosmetics, etc.
The latest report by IMARC Group titled, “Isopropyl Alcohol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global isopropyl alcohol market reached a volume of more than 2 Million Tons in 2016, growing at a CAGR of around 3% during 2009-2016. Isopropyl alcohol, commonly referred to as rubbing alcohol, is a structural isomer of propanol with chemical formula C3H8O or C3H7OH. It is a highly volatile, flammable, clear and colourless liquid with a strong alcoholic odour. Although immiscible in salt solutions, isopropyl alcohol is completely miscible in water, other alcohols, ethers and chloroform. It is commercially manufactured by either direct or indirect hydration of propylene or by catalytic hydrogenation of acetone. Isopropyl alcohol has anti-microbial, fungicidal, bactericidal and virucidal properties. Owing to these properties, it is used to sterilize and disinfect surfaces in hospitals, dairy farms, food processing plants, eating establishments, and in household dwellings.
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Highlights of the Global Isopropyl Alcohol market:
The increasing demand from various end-use industries represents the driving factor for the market.
Solvent Production represents the largest end-use segment for the global isopropyl alcohol market.
Asia represents the largest producer and consumer of isopropyl alcohol globally.
Owing to its physical properties, isopropyl alcohol is suitable for a number of applications in industries such as chemicals and materials, pharmaceuticals, cosmetics, etc. Isopropyl alcohol can be used as process solvent to extract and purify natural products, such as vegetable and animal oils, fats, gums, resins, waxes, colours, flavourings, alkaloids, vitamins, kelp and alginates. It is also used as a carrier in the manufacturing of food products and for the purification, crystallization and precipitation of organic chemicals. In the pharmaceuticals industry, it is used in products, such as alcohol wipes and swabs, hand sanitizers, oral mouthwash and eardrops. In the cosmetics industry, it is used in hair tonics, perfumes, skin lotions, hair dye rinses, permanent wave lotions, skin cleaners, deodorants, nail paints, shampoos, etc. According to the report, the global isopropyl alcohol market is further expected to grow, reaching a volume of around 2.5 Million Tons by 2022.
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On the basis of end-use, solvent production represents the largest end-use segment for isopropyl alcohol. Other major end-use segments include pharmaceuticals, surface coatings, inks, pesticides, cosmetics and personal care products, household products, etc. On the basis of region, Asia accounts for the largest share of the total global production and consumption. Other major regions include North America, Europe and South America. On considering the competitive landscape of the market, the report finds that the major players are Shell Chemicals, DOW Chemicals, Exxon Mobil Chemical Company, Sasol Olefins and Chang Chun Plastics Co Ltd.
The report has examined the isopropyl alcohol market on the basis of:
Other Applications (Surface Coatings, Inks, Pesticides, etc.)
Chang Chun Plastics Co Ltd.
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