Isopropyl Alcohol Market - Forecast(2021 - 2026)

Isopropyl Alcohol Market size is forecast to reach $4.87 billion by 2025, after growing at a CAGR of 4.02% during 2020-2025. The growing demand for consumer products, pharmaceuticals, and household cleaning products based on isopropyl alcohol has driven manufacturers to expand production capacity. High volume consumption in solvents combined with capacity growth and new plants will drive growth on the market for isopropyl alcohol during the forecast period.

Isopropylalcoholcommonlycalledisopropanolor2-propanol,is  colorless, flammable chemical compound with a strong odor. It is used in the manufacture of a wide variety of industrial and household chemicals, and is a common ingredient in chemicals such as antiseptics, disinfectants, and detergents.

Report Coverage

The report: “Isopropyl Alcohol Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Isopropyl Alcohol Industry.

Key Takeaways

  • The isopropyl alcohol industry is the biggest consumer for the chemical industry for Production of solvents, pigments, alcohol inks, detergents, and other intermediate products.
  • New investment in the chemical industry has been noted in Asia-Pacific, which is expected to increase the isopropyl alcohol market over the forecast period.
  • The expansion of the capacity and installation of new plants is a key market trend.

Application - Segment Analysis

The intermediate segment held the largest share in the Isopropyl Alcohol Market in 2018 Currently, isopropyl alcohol is mostly used to manufacture industrial compounds including acetone, glycerol, isopropyl acetate and methyl isobutyl ketone (MIBK), as an intermediate in the process.

End-user Industry - Segment Analysis

Chemicals segment has been the primary market for Isopropyl Alcohol for many years at a CAGR of 3.02%. Growth in shale gas production in the United States has accelerated growth in the country's chemical industry. The investment in the country's chemical industry was by companies like Covestro and Lotte Chemicals. For example, in October 2018 Covestro announced USD 1.7 billion in investment at Texas chemical plant. In the coming years, this investment in the chemical industry will therefore probably drive the market for isopropyl alcohol.

Geography - Segment Analysis

APAC dominated the Isopropyl Alcohol Market with a share of more than 38%, followed by North America and Europe. Due, to the demand for personal care and cosmetics, driven primarily by the influence of the West, is growing strongly in the Asia-Pacific region. This leads to the increased use of cosmetics by women, increased awareness that it is possible to present due to the increased employment of women and the awareness of hygiene, which has increased the production of such products in the region.

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Location: United States

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