Isopropyl Alcohol

Isopropyl Alcohol Market by Grade (70 % IPA, More than 90% IPA), Application (Cleaning Agent, Coating Solvent, Intermediate), End-User - Global Forecast 2024-2030

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[186 Pages Report] The Isopropyl Alcohol Market size was estimated at USD 4.30 billion in 2023 and expected to reach USD 4.57 billion in 2024, at a CAGR 6.89% to reach USD 6.85 billion by 2030.

Isopropyl Alcohol Market
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Isopropyl Alcohol (IPA) is a colorless, flammable chemical compound with a strong odor. It is widely used as a solvent and cleaning fluid, especially for dissolving oils, in producing chemicals, pharmaceuticals, and personal care products, and as a disinfectant due to its antiseptic properties. It is also employed in the electronics industry for cleaning and degreasing. The market for isopropyl alcohol has seen steady growth, driven by rising demand in various applications, including the aforementioned industries and home cleaning products, which have seen a surge in demand due to heightened awareness around hygiene and cleanliness in light of recent global health concerns. Furthermore, the market benefits from continuous industrial and technological advancements, alongside IPA's unmatched versatility and efficiency as a solvent. Expansion opportunities are particularly prominent within the pharmaceutical, medical, and electronics sectors, where IPA's applications are invaluable. However, the market faces limitations due to health and safety concerns over IPA's flammability, potential health risks, and environmental challenges linked to its VOC emissions. The market is leaning towards innovation in sustainable production methods, developing advanced recycling technologies, and exploring bio-based IPA alternatives. Moreover, there's a push for creating improved industrial formulations that promise safer and more effective usage. Despite environmental and regulatory hurdles, the isopropyl alcohol market is poised for a future of innovative growth by emphasizing sustainability, safety, and novel applications, thus reaffirming its indispensable status across many sectors.

Isopropyl Alcohol Market - Global Forecast 2024-2030
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Grade: Growing usage of 70% isopropyl alcohol grade due to its antibacterial qualities

The 70% isopropyl alcohol grade is a dilution that contains 70% alcohol and 30% purified water by volume. This concentration is particularly recognized for its antibacterial qualities. It is widely used in medical settings and household environments for disinfecting surfaces, sanitizing skin, and cleaning minor cuts or abrasions. The presence of water in the 70% solution is crucial since it plays a role in denaturing the proteins of bacterial cell membranes, leading to the effectiveness of IPA as a disinfectant. This grade is often preferred for general disinfection purposes because it has a broad effectiveness spectrum and is less likely to evaporate quickly, allowing for a longer surface contact time. Isopropyl alcohol solutions exceeding 90% concentration are significantly more potent due to their higher alcohol content. These grades are primarily utilized in industrial applications, electronics cleaning, and where rapid evaporation of the alcohol is required. The higher concentration allows for more efficient removal of grease, oils, and other residues without leaving moisture behind. However, its effectiveness as a disinfectant might be slightly reduced compared to the 70% solution because the rapid evaporation prevents it from having sufficient contact time with microorganisms. Moreover, the higher concentration makes it more flammable and necessitates careful handling and storage.

End-User: High potential of Isopropyl alcohol in food & beverage industry to maintain hygiene standards

In the food & beverage industry, Isopropyl Alcohol is primarily used for sanitizing and cleaning food processing equipment and surfaces. It helps maintain hygiene standards by eliminating potential microbial contaminants. However, it is crucial to note that IPA is not used directly in food or beverage products. Isopropyl Alcohol plays a crucial role in the paints & coatings industry as a solvent. It aids in the formulation of coatings by dissolving other substances without chemically changing them or itself. This functionality is essential for ensuring that paints and coatings have the desired consistency and application properties, such as smooth application and uniform appearance. In personal care & cosmetics, IPA is valued for its effectiveness as a cleansing agent and quick evaporation rate, making it ideal for products including, hand sanitizers, aftershaves, and astringents. It is also used in various cosmetic products to help dissolve other substances and improve product texture and application. The pharmaceutical sector utilizes Isopropyl Alcohol as a solvent and a cleaning agent. It is vital for manufacturing processes, ensuring the purity and preparation of key ingredients. Moreover, IPA is used in formulating various pharmaceutical products, including hand sanitizers, and is critical for cleaning and disinfecting equipment in pharmaceutical manufacturing facilities to meet stringent hygiene standards.

Regional Insights

In the Americas, significant production capacity is supported by robust chemical manufacturing infrastructure and technological prowess, catering to domestic and international demand. Investments in research and development by companies in this region are substantial, driven by a regulatory environment that generally supports innovation but demands strict adherence to environmental and safety standards. With its stringent regulatory environment, Europe focuses on sustainable and environmentally friendly IPA production processes, though its overall production capacity may not rival that of the Americas or APAC. With its emerging chemical sector, the Middle East is gradually increasing its presence in the IPA market, supported by government interest in diversifying economies beyond oil. Africa shows potential for growth in IPA demand due to its developing pharmaceutical and cosmetics sectors. The APAC region, led by countries including China and India, is witnessing rapid expansion in IPA production, primarily attributed to rising industrialization, an expanding manufacturing base, and increasing demand from the pharmaceutical and electronics sectors. Government initiatives in these countries aiming at self-reliance in chemical production and encouraging exports have bolstered the growth of IPA manufacturing entities, making the APAC region a crucial player in the global IPA market.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Isopropyl Alcohol Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Isopropyl Alcohol Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments
  • Saudi Arabia's Advanced Petrochemical to Launch Isopropanol Plant

    Saudi Arabia's Advanced Petrochemical entered into a contractual agreement with South Korea's SGC, valued at USD 191 million, to establish a pioneering Isopropanol (IPA) production facility. With a proposed output of 70,000 tonnes per year, the plant is positioned to become the first of its kind in the Middle East. The strategic move reinforces the region's industrial capabilities and addresses diverse demand across sectors including medical, cosmetics, electronics, and industrial solvents, evidencing significant progress as corroborated by satellite imagery of ongoing construction efforts. [Published On: 2024-02-23]

  • Mitsui Chemicals Achieves Comprehensive Sustainability Certification for Phenol-Chain Products

    Mitsui Chemicals, Inc. secured International Sustainability and Carbon Certification (ISCC) PLUS status for its entire range of seven phenol-chain products, including isopropyl alcohol (IPA) and methyl isobutyl ketone (MIBK). This achievement signifies the company's commitment to advancing the use of biomass and sustainable practices within the chemical industry. By ensuring all its phenol-chain products meet ISCC PLUS standards, Mitsui Chemicals demonstrates its dedication to sustainability and environmental responsibility. The company plans to further extend its efforts across all its operations, emphasizing its role in promoting a greener, more sustainable future. [Published On: 2023-12-22]

  • Introduction of 3M SoluPrep S: Enhancing Preoperative Skin Preparation with Advanced Antiseptic Solution

    3M Health Care launched the FDA-approved 3M SoluPrep S Sterile Antiseptic Solution, a skin preparation product for patients undergoing surgery. This innovative solution combines chlorhexidine gluconate at 2% w/v and isopropyl alcohol at 70% v/v, offering an effective antimicrobial defense. Proven to deliver quick and extensive antimicrobial action (based on in vitro studies, with clinical relevance yet to be determined) and demonstrate resilience on human skin for over 96 hours in healthy volunteers, this product signifies a significant advancement in preoperative patient care. [Published On: 2023-04-03]

Key Company Profiles

The report delves into recent significant developments in the Isopropyl Alcohol Market, highlighting leading vendors and their innovative profiles. These include Avantor, Inc., Barentz International BV, BASF SE, Dayaram Chemicals Pvt. Ltd., Deepak Fertilisers and Petrochemicals Corporation Ltd., Domo Chemicals GmbH, Ecolab Inc., Exxon Mobil Corporation, INEOS AG, Jiangsu Denoir Technology Co.,Ltd., LCY Chemical Corp., LG Chem, Ltd., Linde AG, LyondellBasell Industries N.V., Merck KGaA, Mitsubishi Chemical Corporation, Mitsui Chemicals, Inc., Perrigo Company PLC, R.S. Hughes Company, Inc., Shell PLC, Standard Reagents Pvt. Ltd., The Dow Chemical Company, Tokuyama Corporation, Trinternational Inc., and Zhejiang Xinhua Chemical Co., Ltd..

Market Segmentation & Coverage

This research report categorizes the Isopropyl Alcohol Market to forecast the revenues and analyze trends in each of the following sub-markets:

  • Grade
    • 70 % IPA
    • More than 90% IPA
  • Application
    • Cleaning Agent
    • Coating Solvent
    • Intermediate
    • Solvent
  • End-User
    • Food & Beverages
    • Paints & Coatings
    • Personal Care & Cosmetics
    • Pharmaceutical

  • Region
    • Americas
      • Argentina
      • Brazil
      • Canada
      • Mexico
      • United States
        • California
        • Florida
        • Illinois
        • New York
        • Ohio
        • Pennsylvania
        • Texas
    • Asia-Pacific
      • Australia
      • China
      • India
      • Indonesia
      • Japan
      • Malaysia
      • Philippines
      • Singapore
      • South Korea
      • Taiwan
      • Thailand
      • Vietnam
    • Europe, Middle East & Africa
      • Denmark
      • Egypt
      • Finland
      • France
      • Germany
      • Israel
      • Italy
      • Netherlands
      • Nigeria
      • Norway
      • Poland
      • Qatar
      • Russia
      • Saudi Arabia
      • South Africa
      • Spain
      • Sweden
      • Switzerland
      • Turkey
      • United Arab Emirates
      • United Kingdom

The report offers valuable insights on the following aspects:

  1. Market Penetration: It presents comprehensive information on the market provided by key players.
  2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
  3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
  4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
  5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

  1. What is the market size and forecast of the Isopropyl Alcohol Market?
  2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Isopropyl Alcohol Market?
  3. What are the technology trends and regulatory frameworks in the Isopropyl Alcohol Market?
  4. What is the market share of the leading vendors in the Isopropyl Alcohol Market?
  5. Which modes and strategic moves are suitable for entering the Isopropyl Alcohol Market?

Table of Contents
  1. Preface
  2. Research Methodology
  3. Executive Summary
  4. Market Overview
  5. Market Insights
  6. Isopropyl Alcohol Market, by Grade
  7. Isopropyl Alcohol Market, by Application
  8. Isopropyl Alcohol Market, by End-User
  9. Americas Isopropyl Alcohol Market
  10. Asia-Pacific Isopropyl Alcohol Market
  11. Europe, Middle East & Africa Isopropyl Alcohol Market
  12. Competitive Landscape
  13. Competitive Portfolio
  14. List of Figures [Total: 22]
  15. List of Tables [Total: 288]
  16. List of Companies Mentioned [Total: 25]
Frequently Asked Questions
  1. How big is the Isopropyl Alcohol Market?
    Ans. The Global Isopropyl Alcohol Market size was estimated at USD 4.30 billion in 2023 and expected to reach USD 4.57 billion in 2024.
  2. What is the Isopropyl Alcohol Market growth?
    Ans. The Global Isopropyl Alcohol Market to grow USD 6.85 billion by 2030, at a CAGR of 6.89%
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