Isopropyl Alcohol Market | Research Insights, Business Outlook, Company Profiles, Trends and Forecast 2018-2023
Isopropyl Alcohol is a colorless and flammable chemical compound which dissolves a wide range of non-polar compounds. Isopropyl is a colorless liquid having disinfectant properties and used in the manufacture of a wide variety of industrial and household chemicals. It is commonly found in antiseptics, disinfectants and detergents. Isopropyl Alcohol finds its application in numerous purposes. It is used in circuit board manufacturing, electroplating, metal degreasing, paint manufacturing, pharmaceuticals, coating additives, fuel and fuel additives, lubricants, dye solutions, perfumes, soaps, cosmetics, printing, rubber manufacturing, laboratory chemicals and others. It is widely used as solvent owing to its less toxic nature as compared to other solvents, and evaporates quickly without leaving any traces of oil. The diverse use of Isopropyl Alcohol is propelling the market. The Global Isopropyl Alcohol Market is anticipated to hold potential growth prospects during the forecast period. Market Research Future (MRFR) projects a steady growth and encouraging estimated revenue and CAGR during the forecast period 2018-2023. Growth of end-users industries is boosting the Isopropyl Alcohol Market. Rising demand for organic solvents owing to efficient properties including high octane number and flammability characteristics and increasing environmental issues and stringent regulatory guidelines are stimulating the growth of the Isopropyl Alcohol Market. Steep demand is being pouring in from developing economies due to ongoing economic expansion, increasing hygiene awareness and growing automobile industry in the region. On the down side, serious health implications of isopropyl alcohol remains a hurdle to the Global Isopropyl Alcohol Market. It may cause depression or skin dermatitis. Occupational exposure to Isopropyl Alcohol has been found to cause severe health hazards in humans. Sufficient evidence has been found for the carcinogenicity of Isopropyl Alcohol and it causes cancer in those who are exposed to it. Fluctuations in the prices of raw materials such as sugar, bagasse, natural gas and corn starch might hinder the growth of the market.
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The Global Isopropyl Alcohol Market has been segmented based on applications and production methods. On the basis of applications, the market has been segmented into automotive, laboratory, medical, solvents and others. On the basis of production methods, the market has been segmented into indirect hydration, direct hydration and others. Isopropyl Alcohol is the most widely used solvent and has a wide range of application that extends beyond this list.
The key markets of the Global Isopropyl Alcohol are North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. North America market for Isopropyl Alcohol is consolidated owing to developed end user industry verticals in the region. Asia-Pacific is expected to emerge as a lucrative market for Isopropyl Alcohol due to the strong presence of cosmetic and personal care industry in the region and ongoing rapid industrialization and availability of cheap labor. Europe too has potential growth opportunities owing to increased demand of paint and coatings from the household and automotive industry. Latin America & the Middle East & Africa market are anticipated to grow at a moderately during the forecast period owing to demand from the Gulf economies of Saudi Arabia, UAE, Kuwait, and Qatar.
The key players profiled in the research report include Crystal Clean Chemicals, Puritan Products, Avantor, Crystal Clean Chemicals, Linde, Huate Gas, Denoir Ultra Pure, Guangfu Fine Chemicals and others. The Global Isopropyl Market is characterized by the presence of several established players and appears to be highly competitive. Existing participants are incorporating acquisitions, collaboration, product launches, mergers, etc., to gain substantial edge over the market. The key players operating in the market compete on the basis of pricing, product, launch and reputation.
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