Isopropanol is basically a colorless, flammable liquid and a known as a low-cost solvent. This solvent mainly finds innumerable applications in many industries, including cosmetics, paints & coatings, pharmaceutical, cleaning, etc. It is utilized to create many other compounds such as isopropyl esters, isopropyl amines, derivative ketones, and among others. It is prepared from either direct catalytic reduction of acetone or indirect hydration of propene. Solvent applications of isopropanol are surface coatings, inks, processing solvent of natural products, including fats, gums, vegetable & animal oils, waxes, etc. It is also utilized as a carrier in the production of household cleaners and food products. Even though isopropanol is mainly used as a solvent, it is further used as a coolant during the manufacturing of beer as well as a polymerization modifier during the production of polyvinyl fluoride. It further finds some other use as a foam inhibitor, de-icing agent, and flavoring agent. Isopropyl alcohol produced with some of the special grades finds use mainly in pharmaceutical and cosmetic applications. Pharmaceutical grade isopropyl alcohol is utilized during the manufacturing of medical wipes, drugs, and some other medicinal formulations. Furthermore, cosmetic grade isopropyl alcohol is used to prepare cosmetic and personal care products such as disinfectants, etc.
MARKET DYNAMICS
The isopropanol market has witnessed a significant growth owing to factors such as wider application in process solvent, cleaning agents, coating solvent, intermediates, and others for various end-use industries such as cosmetic & personal care, pharmaceutical, food & beverage industry, paints & coatings, chemicals & materials, and others. Isopropanol has gained immense significance as an effective solvent across various industrial sectors in light of its complete miscibility in most of the solvents, including water. To meet the growing demand for multifunctional cosmetic as well as personal care products, chemical companies are continuously working on developing new chemicals to meet the increasing demand for ingredients needed by the cosmetic and personal care industry. This will lead to a rise in the use of isopropyl alcohol, which is utilized as a solvent for the manufacturing of cosmetic and personal care products. Since isopropyl alcohol is quite miscible with non-polar solvents and water, it is widely used in cleaning agents. This is another factor boosting the growth of the isopropyl alcohol market. Isopropanol is further used in the production of acetone, which is utilized as a solvent in the cosmetic industry. However, alternate ways have been developed for the production of acetone. This can be a major challenge that the isopropyl alcohol market will face during the forecast period. Nevertheless, the innovation of bio-based isopropanol is likely to provide opportunities for the studied market, during the forecast period.
MARKET SCOPE
The "Global Isopropanol Market Analysis to 2028" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the isopropanol market with detailed market segmentation by grade, application, end-use industry, and geography. The global isopropanol market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading isopropanol market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global isopropanol market is segmented on the basis of grade, application, and end-use industry. On the basis of grade, the isopropanol market is segmented into industrial grade, pharmaceutical grade, cosmetic grade, and electronic grade. The isopropanol market on the basis of the application is classified into process solvent, cleaning agents, coating solvent, intermediates, and others. On the basis of end-use industry, global isopropanol market is bifurcated into cosmetic & personal care, pharmaceutical, food & beverage industry, paints & coatings, chemicals & materials, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global isopropanol market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The isopropanol market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the isopropanol market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the isopropanol market in these regions.
MARKET PLAYERS
The reports cover various key developments in the global isopropanol market. Various companies are focusing growth strategies such as product launches, product approvals and others such as patents and events. Some of the growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from isopropanol market are anticipated to lucrative growth opportunities in the future with the rising demand for isopropanol in the global market. Below mentioned is the list of few companies engaged in the isopropanol market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the isopropanol market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Ami Chemicals
- BASF SE
- Clariant
- Exxon Mobil Corporation
- LCY GROUP
- LG Chem Ltd.
- Mitsui Chemicals, Inc.
- Perrigo Company plc
- Royal Dutch Shell Plc.
- The Dow Chemical Company
- Zibo Nuoao Chemical Co.,Ltd.
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