Global Isopropyl Alcohol (IPA) Market Outlook to 2026 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Global Isopropyl Alcohol (IPA) Market Outlook to 2026" report has been added to ResearchAndMarkets.com's offering.
A wide range of isopropyl alcohol applications includes process solvent, intermediates, cleaning agent in major end-user industries, such as chemical, pharmaceutical, personal care, and cosmetics, among others.
The isopropyl alcohol industry spans throughout the world, with a total production capacity of 2.4 million tonnes in the year 2018. Isopropyl alcohol production is highly concentrated in Asia-Pacific, North America, and Western Europe, accounting for about 95% of global capacity in the year 2018.
Global Isopropyl Alcohol market is expected to witness a considerable growth rate during the forecast period. The major factors driving the market for isopropyl alcohol include the remarkable rise in the usage of disinfectants across the globe due to the COVID-19 pandemic and as a first choice among cleaning solvents due to the absence of added impurities.
Isopropyl alcohol is the most common and widely used disinfectant within hospitals, pharmaceuticals, clean rooms, electronics manufacturing, and medical device manufacturing. Isopropyl alcohol is rapidly antimicrobial against fungi, viruses, and bacteria in solutions between 60% and 90% alcohol with 10 to 40% purified water.
With the COVID-19 pandemic outbreak, there has been an elevated growth in the consumption of disinfectants across the globe, driving the market for isopropyl alcohol. IPA can be used as a compound disinfectant instead of ethanol, which has been favored by many countries. It is also easier to procure isopropyl alcohol in many countries.
Isopropyl alcohol is used in the production of hand sanitizers, rubbing alcohol, and alcohol wipes. There has been a great gap between the supply and demand of isopropyl alcohol in recent times. Manufacturers are using their full-time capacities to supply isopropyl alcohol but are running short due to continuously growing demand and restrictions on the movement of goods.
CDC (Centers for Disease Control and Prevention) recommends using 70% isopropyl alcohol hand rub in healthcare settings to control the spread of COVID-19. To meet the ongoing surge in demand for disinfectants, a temporary FDA (Food and Drug Administration) policy allows isopropyl alcohol to be used as an active ingredient in ABHR (Alcohol-based Hand Rub) manufacturing by local entities that are not registered with FDA to manufacture drugs.
Companies are setting up new facilities to ramp up the production to meet demand. For instance, Exxon Mobil Corporation has started the production of medical-grade hand sanitizer in Houston. The company will initially produce 160,000 gallons of hand sanitizer that will be donated to medical providers and first responders in Louisiana, New Jersey, New Mexico, New York, Pennsylvania, and Texas.
China is one of the major producers of isopropyl alcohol globally. With the outbreak of the COVID-19 pandemic, the price of isopropyl alcohol in the country and overseas witnessed a remarkable change. In February 2020, due to poor transportation, delayed domestic downstream projects in the country, the isopropyl alcohol remained stable.
For disinfectant production, ethanol was the most preferred ingredient due to its lower cost and long usage from a long time across the country. However, with the spread of the overseas epidemic and increasing demand for disinfectant products, isopropyl alcohol has undergone tremendous changes.
Some of the key players in the global market are Royal Dutch Shell, ExxonMobil Corporation, Dow Chemical Company, and Sasol Limited among others. The companies in the market are focusing on capacity additions due to the increasing demand for isopropyl alcohol from the disinfectants market.
Key Topics Covered:
1. Executive Summary
2. Research Scope and Methodology
2.1 Aim & Objective of the study
2.2 Market Definition
2.3 Study Information
2.4 General Study Assumptions
2.5 Research Phases
3. Market Analysis
3.2 Market Dynamics
3.3 Market Trends & Developments
3.4 Market Opportunities
3.5 Feedstock Analysis
3.6 Trade Scenario
3.7 Price Trend Analysis
3.8 Supply Scenario
3.6 Regulatory Policies
3.10 Analysis of COVID-19 Impact
4. Industry Analysis
4.1 Supply Chain Analysis
4.2 Porter's Five Forces Analysis
5. Market Segmentation & Forecast
5.1 By Grade
5.1.1 Industrial Grade
5.1.2 Pharmaceutical Grade
5.1.3 Cosmetic Grade
5.1.4 Electronic Grade
5.1.5 Other Grades
5.2 End Use
5.2.2 Personal Care and Cosmetics
5.2.3 Paints & Coatings
5.2.4 Food & Beverage
6. Regional Market Analysis
6.1 North America
6.1.1 United States
6.2.1 United Kingdom
6.2.6 Nordic Countries
6.2.7 Rest of Europe
6.3.4 South Korea
6.3.5 ASEAN Countries
6.3.6 Rest of Asia-Pacific
6.4 South America
6.4.3 Rest of South America
6.5 Middle East & Africa
6.5.1 South Africa
6.5.2 Saudi Arabia
7. Key Company Profiles
7.1 Royal Dutch Shell
7.2 Dow Chemical Company
7.3 Linde Plc
7.4 Ecolab Inc.
7.5 LG Chem Ltd.
7.6 Mitsui Chemicals, Inc.
7.7 Exxon Mobil Corporation
7.8 Deepak Fertilisers and Petrochemicals Corporation Limited
7.9 PetroChina International Co., Ltd
7.10 JXTG Nippon Oil & Energy Corporation
7.11 Perrigo Company Plc
7.12 Sasol Limited
8. Competitive Landscape
8.1 List of Notable Players in the Market
8.2 M&A, JV, and Agreements
8.3 Market Share Analysis
8.4 Strategies of Key Players
9. Conclusions and Recommendations
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