Isopropyl Alcohol - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Isopropyl Alcohol Market is accounted for $3.74 billion in 2018 and is expected to reach $6.87 billion by 2027 growing at a CAGR of 7.0% during the forecast period. Increasing demand from the automobile industry, growing hygiene awareness are the major factors propelling the market growth. However, factors such as irritation in skin when in contact, and dizziness due to ingestion are hampering the market growth.
Isopropyl alcohol is a flammable compound and has a high vapor pressure. The compound is manufactured by combining water and propene by either direct hydration or indirect hydration. Isopropyl alcohol is a chemical compound, which is colorless, flammable and has a strong alcoholic like odor. This compound is completely miscible in water and is an acceptable solvent for acrylic and epoxy resins, ethyl cellulose, natural resins, gums, polyvinyl butyral, alkaloids and other essential oils. Isopropyl alcohol is immiscible in salt solutions. However, unlike ethanol and methanol, this compound can be separated from various solutions with the addition of salts, which include sodium chloride, sodium sulphate and various other inorganic salts, as this alcohol is not very soluble in saline solutions. This compound increases in viscosity with the increase in temperature. This compound is relatively non- toxic and non-harmful and readily evaporates like acetone.
Based on the end user, the food & beverages segment is going to have a lucrative growth during the forecast period owing to the fact that the isopropyl alcohol can be used for the extraction and purification of natural products, such as vegetable and animal oils and fats, gums resins, waxes, colors, flavorings, alkaloids, vitamins, kelp and alginates. It is also used as carrier solvent in the production of food products.
By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to the increase in automobile industries in this region, which is also expected to drive the isopropyl alcohol market. In addition, the growing hygiene awareness in Asia Pacific countries drives this market.
Some of the key players profiled in the Isopropyl Alcohol Market include Avantor, Crystal Clean Chemicals, Denoir Ultra Pure, DongYing Naire Technology, Guangfu Fine Chemicals, Huate Gas, OM Group, Tokuyama Corporation, Linde, Puritan Products , LG Chem, Royal Dutch Shell, The Dow Chemical Company, and INEOS Enterprises.
Production Methods Covered:
• Indirect Hydration
• Direct Hydration
• Process Solvent
• Cleaning Agent
• Coating Solvent
End Users Covered:
• Cosmetics & Personal Care
• Paints & Coatings
• Food & Beverages
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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