Global Isopropyl Alcohol Market Report, Size, Share, Growth, Forecast & Price Trends
Isopropyl alcohol, also known as rubbing alcohol, is an organic dissolving agent with a strong alcoholic odour. It is a clear, colourless, volatile and combustible liquid exhibiting high viscosity at high temperatures. It is miscible in water, ether, chloroform and other alcohols except for saline solutions. As isopropyl alcohol has degreasing and disinfectant properties, it is popularly used as a cleaner and an antiseptic.
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Isopropyl alcohol is generally manufactured in different concentrations. The commercially manufactured alcohol usually contains nearly 70% alcohol and is used for general cleaning, sterilizing and other cleaning purposes. On the other hand, highly concentrated form contains 90-99% of the alcohol and is used as a preservative for biological specimens. According to a new report by Expert Market Research, the global isopropyl alcohol has witnessed a positive growth over the past few years. The market reached a volume of 2.1 Million Tons in 2018 and is further expected to reach 2.39 Million Tons by 2024.
The market is gaining stimulus due to diverse uses of isopropyl alcohol in various industries like automotive, laboratory, medical, solvents and others. With the progress of these industries, the demand for isopropyl alcohol has also been on the rise. In addition, there is a growing demand for isopropyl alcohol in developing countries which is further adding to the growth of the global market for isopropyl alcohol.
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Key findings from the report:
- Isopropyl alcohol serves few application domains which include solvent production and other applications like pharmaceuticals, surface coatings, inks, pesticides, etc. Solvent production accounted for the largest share in 2015.
- Region-wise, Asia dominated the market with a share of nearly 45% of the global production. Asia was followed by North America, Europe and South America.
- Based on global import and export data, the United States represented both the largest importer and exporter of isopropyl alcohol.
- Some of the top players operating in the global isopropyl market are Shell Chemicals, Chang Chun Plastics Co Ltd, Sasol Olefins, Deepak Fertilizers, Exxon Mobil Chemical Company, CNPC Jinzhou Petrochemical Corp., DOW Chemicals, Mitsui Chemicals Inc., Novapex, Lyondell Basell and LG Chem. Ltd.
Expert Market Research has analysed the global isopropyl alcohol market according to applications, major regions, global import & export data and top players:
Market Breakup by Applications
- Solvent Applications
- Other Applications (Surface coatings, inks, pesticides)
Market Breakup by Region
- North America
- South America
Imports by Major Countries
- The United States
Exports by Major Countries
- The United States
- Shell Chemicals
- Exxon Mobil Chemical Company
- DOW Chemicals
- Sasol Olefins
- Chang Chun Plastics Co Ltd
- Mitsui Chemicals Inc.
- CNPC Jinzhou Petrochemical Corp.
- Lyondell Basell
- LG Chem. Ltd.
- Deepak Fertilizers
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