Market Research Report
Global Isopropyl Alcohol Market Size, By Application By End-Use Industry Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
|Published by||Global Market Insights Inc.||Product code||951299|
|Published||Content info||230 Pages
Delivery time: 2-3 business days
|Global Isopropyl Alcohol Market Size, By Application By End-Use Industry Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026|
|Published: July 22, 2020||Content info: 230 Pages||
Global Isopropyl Alcohol Market Size, By Application (Solvent, Cleaning Agent, Chemical Intermediate, Flavoring Agent, Disinfectant) By End-Use Industry (Food, Pharmaceutical, Cosmetic & Personal Care, Medical, Electronics, Automotive) Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026.
The isopropyl alcohol market is likely to witness rapid growth over the coming time period due to the product's wide range of applications across a plethora of industry verticals. Isopropyl Alcohol is known as an isomer of propyl alcohol having antibacterial properties. It is generally a colorless liquid and is extensively used disinfectant within pharmaceutics, manufacturing of medical or electronics device, cleanrooms, and hospitals.
Isopropyl alcohol is also utilized as a solvent as well as a cleaning fluid particularly for dissolving oils. Isopropyl alcohol is utilized in the manufacturing of acetone and its byproducts as well.
Apart from various industrial uses, the alcohol is also utilized in gardening. In gardening, it is used for removing dead, rotting or diseased plants, for deterring fruit flies, and as a cleaner for silk plant and flower. Additionally, owing to the ongoing COVID-19 outbreak, the demand for sanitizers and disinfectants has increased tremendously across the globe, which is augmenting demand throughout the isopropyl alcohol market.
The isopropyl alcohol market is bifurcated in terms of application, end-use, and regional landscape.
Based on application, the isopropyl alcohol market is classified into disinfectant, flavoring agent, chemical intermediate, cleaning agent, solvent, and others. The others segment is projected to record momentous gains over the coming years. Changing perceptions on hygiene and rapid demand for high quality personal care cleaning products is likely to foster the segment share. In personal care products, the alcohol functions as an cosmetic astringent, viscosity decreasing agent, solvent, and antifoaming agent.
In terms of end-use, the overall isopropyl alcohol market is segmented into automotive, electronics, medical, cosmetic & personal care, pharmaceutical, food, and others. The others segment will witness immense growth owing to the increasing demand for high quality toiletries with cleansing and sanitizing properties.
The material is used in the production of cold process as well as melt and pour soap. The alcohol helps in preventing soda ash from forming on cold process soap, and also helping layers stick together during the creation of melt and pour soap.
From a regional frame of reference, Latin America isopropyl alcohol market is likely to grow with CAGR of over 6% over the forecast time period owing to increasing demand for high quality cosmetics and personal care products.
Middle East & Africa isopropyl alcohol market is likely to surpass a valuation of $150 million owing to increasing demand for high quality cleaning solutions and sanitizers. Owing to the ongoing spread of COVID-19 pandemic, the demand for hand sanitizers has tremendously increased across the region, which is projected to positively influence the regional revenue graph significantly.