Press release
Isopropyl Alcohol Market Size (US$ 5.6 Billion) Share, Trends Analysis, Statistics and Forecast 2023-2028
Isopropyl Alcohol Market
How Big is the Isopropyl Alcohol Market?
The global isopropyl alcohol market size reached US$ 4.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.6 Billion by 2028, exhibiting a growth rate (CAGR) of 4% during 2023-2028.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐ ๐จ๐ซ ๐ ๐ ๐ซ๐๐ ๐๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.imarcgroup.com/isopropyl-alcohol-technical-material-market-report/requestsample
What is Isopropyl Alcohol?
Isopropyl alcohol represents an organic chemical compound that is a volatile, colorless, and flammable liquid and has a bitter taste and strong odor. Although miscible with few alcohols, water, ether, and chloroform, it is insoluble in salt solutions. Isopropyl alcohol finds extensive applications as a solvent in resins, alkaloids, essential oils, gums, cellulose, and coatings, de-icing agent in lacquers, liquid fuels, and extraction processes, and an antiseptic in anti-freeze compositions. In line with this, it is also widely used in the production of shellacs, quick-drying inks, glycerol, isopropyl acetate and creosote, etc.
What are the Growth Prospects and Trends in the Isopropyl Alcohol Industry?
The escalating demand for alcohol-based hand rubs and sanitizers, on account of the sudden outbreak of the COVID-19 pandemic, is primarily driving the isopropyl alcohol market. Additionally, the inflating disposable income levels of individuals and the widespread adoption of this compound for purifying and extracting natural products, such as animal and vegetable oils, resins, waxes, flavorings, fats, vitamins, etc., are further catalyzing the market growth. Besides this, the growing utilization of isopropyl alcohol in biodiesel production, owing to the expanding automotive sector and enhanced focus on sustainable development, is acting as another significant growth-inducing factor. Moreover, it is also used as a general cleaner for removing oil, grease and handling soil, as well as to remove flux residues after soldering, which is positively influencing the global market. Apart from this, the inflating popularity of isopropyl alcohol-based products across the personal care industry is bolstering the market growth. Furthermore, the development of a more efficient technique, such as catalytic hydrogenation of acetone, is projected to fuel the isopropyl alcohol market over the forecasted period.
๐๐ฎ๐ฒ ๐๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ: https://www.imarcgroup.com/checkout?id=496&method=1
Note: In this report you will get detailed analysis of the market, growth analysis graphs, historical period analysis, forecast period analysis, major market segmentation, top leading key players of the market, table of content, list of figures, and list of tables.
Who are the Key Players Operating in the Isopropyl Alcohol Market?
The market is concentrated with the top 5 players accounting for more than half of the entire market.
โข The Dow Chemical Company
โข Exxon Mobil Corporation
โข Shell Chemicals Europe B.V.
โข INEOS Enterprises Ltd.
โข Super Chemical Technology Co. Ltd.
What is Included in Market Segmentation?
The report has categorized the market based on application and industry.
Breakup by Application:
โข Process Solvent
โข Cleaning Agent
โข Coating Solvent
โข Intermediate
โข Others
Analysed by Industry:
โข Cosmetic and Personal care
โข Pharmaceutical
โข Food and Beverage
โข Paints and Coatings
โข Chemical
โข Others
Regional Insights:
โข Asia
โข North America
โข Europe
โข South America
โข Others
๐๐ฉ๐๐๐ค ๐ญ๐จ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ญ (๐๐% ๐ ๐ซ๐๐ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ญ๐ข๐จ๐ง):
https://www.imarcgroup.com/isopropyl-alcohol-technical-material-market-report
Key Highlights of The Report:
โข Market Performance (2017-2022)
โข Market Outlook (2023-2028)
โข Market Trends
โข Market Drivers and Success Factors
โข Impact of COVID-19
โข Value Chain Analysis
โข Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
Contact Us:
IMARC Group
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USA: +1-631-791-1145 | Asia: +91-120-433-0800
Email: sales@imarcgroup.com
Follow us on Twitter: @imarcglobal
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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