According to ChemAnalyst report, “Global Isopropyl Alcohol (IPA) Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, 2015-2030” The Isopropyl Alcohol (IPA) market witnessed steady growth in the historical years and is estimated to reach a market volume of 3200 thousand tonnes with a CAGR of 4.77% until 2030. Due to rapid industrialization and infrastructure investments across the emerging economies, the demand of Isopropyl Alcohol from various industries including Chemicals, Paints and coatings, Pharma, Cosmetics, and Others is likely to fuel the global Isopropyl Alcohol market in the upcoming years.
Isopropyl Alcohol is a structural isomer that possess the antibacterial properties. It is colorless and flammable in nature. IPA is synthesized by the reaction of Propylene with Sulphuric Acid which is further followed by Hydrolysis. The most used process to produce IPA is Propylene-based in the current market scenario, whereas the Acetone-based process is being phased out gradually. It is extensively used in cosmetics as lotions, drugs, detergents, Adhesives and sealant chemicals, fuels and fuel additives, intermediates, non-pesticidal agricultural chemicals, lubricants, and others. IPA is easily miscible with water, ethers, ethanol, and other solvents. Due to its quick evaporating, non-toxic and non-oily nature, it is highly used in solvents.
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The demand of IPA in pharmaceutical sector to produce hand sanitizers and disinfectants majorly contributes to the IPA market. The Solvent segment is a major growing segment of IPA due to its high consumption across the word. Being extremely safe and highly evaporative, Isopropyl Alcohol is widely used for sterilization purposes in the medical sector. Increasing demands from consumers would enhance the consumption of IPA and its derivatives in cosmetics and personal care products. IPA is also used in electronics industry as a cleanser and is likely to witness a record growth during the forecast period as technology penetration in emerging countries would rise substantially.
The global Isopropyl Alcohol (IPA) is segmented based on end-use, sales channel, and region. Based on the end-use, the global Isopropyl Alcohol (IPA) market is segregated into Chemicals, Paints and coatings, Pharma, Cosmetics, and Others. Among these industries, the Pharma industry holds the largest market share of IPA. In 2021, the Pharma industry displayed a consumption of 60%. IPA finds its application in the cleaning and disinfectant part of the pharma industry and is anticipated to display the similar trend in the future owing to sanitation practice among population across the globe.
The Asia Pacific region dominates the Isopropyl Alcohol (IPA) market in terms of consumption, followed by Europe. This region held a market share of approximately 48% in 2021. Asia Pacific region is the fastest-growing region among all other regions and expected to hold the maximum share of demand in the forecast period owing to rapid industrialization, growing population and a large consumer base in the region.
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“Global Isopropyl Alcohol (IPA) Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, 2015-2030”, Significant companies operating in the global Isopropyl Alcohol (IPA) are Sasol Germany, Dow Chemicals, Exxon Mobil, Deepak Fertilizers and Petrochemicals Corporation Ltd., Yangcheng Super chemicals, Jiande Xinhua Chemical, Kellin Chemical, Shell Eastern Petroleum Pte Ltd, JX Nippon Oil and Energy, Tasco Chemicals, Seqens, LCY Chemicals, BP, Shell Nederland Chemie BV, and others.
“Being linked to the downstream application such as cosmetic, Pharmaceutical, electronics and others, the Global Isopropyl Alcohol Industry has shown a significant growth along with the growing population and change in the consumer preference. Asia Pacific is dominating the IPA market and is driven by the rapid growth in pharmaceutical and healthcare, cosmetics, and personal care sector. With new competitors emerging across the Isopropyl Alcohol market, it is extremely important to keep an eye on which region will grab the biggest market share during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
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