The global Isopropanol market reached a value of about USD 3.98 billion in 2021. The industry is projected to grow at a CAGR of around 5% in the forecast period of 2022-2027 to reach a value of about USD 5.15 billion by 2027.
The global Isopropanol industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The market is being driven by the high solvency properties of isopropanol, as it is acknowledged as one of the essential solvents in various industries. In the industry report, the key demand indicator is the highest category spender by region—Asia Pacific.
Isopropanol or Isopropyl alcohol is a colourless, volatile liquid with a strong, musty odour similar to rubbing alcohol. It is a propyl alcohol isomer with antimicrobial characteristics. It is considered to have properties that destroy cells by denaturing cell proteins and DNA, disrupting cellular metabolism, and disintegrating cell lipoprotein membranes. The Isopropanol industry report comprises segments by application (Solvent Applications, Chemical Intermediates, Household, Cosmetics, Pharmaceuticals) and region (North America, Europe, Asia Pacific, the Middle East, Africa, and South America).
The Asia Pacific region holds a significant share in the industry due to the robust demand for the product in China's chemical, pharmaceutical, automotive, and construction sectors. The country's expanding solvent market provides a significant thrust to the market. Furthermore, the rapid growth of the construction sector, chemical industry, growing demand for cosmetics and pharmaceutical products in the region are expected to propel the market.
The industry is witnessing growth due to its use as a solvent in thinners for wood furnishings, paints, and inks. It is used as an inert solvent in paints and coatings to minimise the flammability of coatings during transit and storage. It is mainly utilised as a water-based paint thinner and ingredient in inks. As a result, growing building activity throughout the world bolsters the market demand. The chemical is used to clean flux residues after soldering and remove oil, grease, and other handling soils. This water-missile substance is applied as a diluent for natural resins, acrylic, ethylcellulose, epoxy resins, polyvinyl butyral, gum alkaloids, and other essential oils, among other things.
However, factors such as Price variations and strict regulations on the usage of isopropanol are likely to act as market restraints.
The global Isopropanol industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major global Isopropanol regions, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.
Isopropanol may be made using three distinct methods: indirect propylene hydration, direct propylene hydration, and catalytic hydrogenation of acetone. Direct hydration is less corrosive than indirect hydration via sulfuric acid. However, unlike the indirect approach, which may employ a dilute refinery stream, the direct method requires a pure propylene input. In the indirect-hydration process, propylene is combined with sulfuric acid to form mono- and diisopropyl sulphates subsequently hydrolysed to isopropanol. Separate reactors are employed for the propylene absorption phase and the hydrolysis of the sulphate esters in the two-step strong-acid method. The reaction happens at a low temperature (e.g. 20–30 °C) and a high sulfuric acid concentration (> 80 percent wt). The weak-acid process is carried out in a single stage at a higher temperature (60–65 °C) and a lower acid concentration (60–80 percent wt).
The chemical is used to produce rubbing alcohol, sanitiser, etc., driving the industry's demand. It is also employed for purifying and extracting natural goods, including animal and vegetable oils, waxes, resins, flavourings, fats, vitamins, and so on, boosting market expansion. In addition, it is also utilised in the pharmaceutical industry. Alcohol swabs and alcohol wipes, both essential for wound cleansing, contain 70% isopropyl alcohol. It is employed in the electronics industry; the growth of semiconductor ICs and consumer electronics has fueled a considerable increase in demand for electronic-grade isopropanol. It's also a coolant in the beer-making process and a polymerisation modifier in the polyvinyl fluoride-making process. It's also used as a de-icer, a foam inhibitor, and a flavouring ingredient. Specific grades of isopropyl alcohol are used in medicinal and cosmetic applications. Hence, owing to the following applications, the industry will witness increased demand.
The regional markets for the industry can be divided into Europe, North America, the Asia Pacific, South America, and the Middle East and Africa.
The worldwide isopropyl alcohol (IPA) industry is highly concentrated, with the top 10 businesses accounting for more than 74% of global output. Due to significant expenditures in research and development, the industry has been defined by the existence of top producers with a worldwide reach and a diverse product portfolio. Companies have also increased their production capacity to meet the expanding demand for sanitisers and personal care products in their different local markets. Joint ventures and new product development focusing on new application industries are two primary methods employed by industry participants.
1. Executive Summary
2. Global Isopropanol Market Snapshot
2.1. Isopropanol Market Outlook
2.2. Isopropanol Industry Analysis by Application
2.2.1. Solvent Applications
2.2.2. Chemical Intermediates
2.3. Regional Overview
2.3.1. North America
2.3.3. Asia Pacific
3. Impact of Recent Events
4. Isopropanol Value Chain Analysis
5. Isopropanol Production Process
6. Trade Analysis
7. Major Risk Factors in Sourcing
8. Isopropanol Cost Structure
9. Isopropanol Price Analysis
10. Key Demand Indicator Analysis
11. Key Price Indicator Analysis
12. Isopropanol Market Dynamics
12.1. Drivers & Constraints
12.2. Industry Events
12.3. Innovations & Trends
12.4. SWOT Analysis
12.5. Porter’s Five Forces
12.5.1. Buyer Power
12.5.2. Supplier Power
12.5.3. Threat of New entrants
12.5.4. Threat of Substitutes
12.5.5. Industry Rivalry
13. Feedstock Market Analysis
13.1. Market Overview
13.2. Price Analysis
14. Industry Best Practices
14.1. Sourcing Strategy
14.2. Procurement Model
14.3. Contract Structure
14.4. Negotiation Levers
14.5. Pricing Model
14.6. Key Factors Influencing the Quotation
15. Key Supplier Analysis
15.1. The Dow Chemical Company
15.2. Exxon Mobil Corporation
15.3. Shell plc
The global Isopropanol market size was valued at USD 3.98 billion in 2021.
As per the application provided, the Solvent Applications segment is anticipated to lead the market between the period 2022 – 2027.
The significant demand for the product as a solvent is one of the essential drivers of the Isopropanol market growth.
Methanex Corporation, Ar Razi Saudi Methanol Company, Methanol (Holdings) Trinidad Ltd. (MHTL), Exxon Mobil, Zagros Petrochemical Company, and Shenhua Ningxia Coal Industry Group Co. Ltd. are few of the key companies in the market.
The Asia Pacific region of the Isopropanol industry holds a significant share in the market.
The global Isopropanol market attained a value of USD 3.98 billion in 2021, driven by the increasing demand for the chemical as a solvent. The substance is widely used in the manufacturing of various products such as sanitisers, cleaners, etc., boosting the market demand. Aided by the product's use in other industries, including cosmetics, electronics, etc., the market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 5%. The market is projected to reach USD 5.15 billion by 2027.
Procurement Resources' detailed research approach explores deep into the industry, encompassing the macro and micro aspects of the industry. Its team of experts uses cutting-edge analytical tools and their expertise, thus, delivering its customers with market insights that are accurate, actionable and help them remain ahead of their competition. Some of the leading players in the industry are Methanex Corporation, Ar Razi Saudi Methanol Company, Methanol (Holdings) Trinidad Ltd. (MHTL), Exxon Mobil, Zagros Petrochemical Company, and Shenhua Ningxia Coal Industry Group Co. Ltd.
At Procurement Resource our analysts are selected after they are assessed thoroughly on having required qualities so that they can work effectively and productively and are able to execute projects based on the expectations shared by our clients. Our team is hence, technically exceptional, strategic, pragmatic, well experienced and competent.
We understand the cruciality of high-quality assessments that are important for our clients to take timely decisions and plan strategically. We have been continuously upgrading our tools and resources over the past years to become useful partners for our clientele. Our research methods are supported by most recent technology, our trusted and verified databases that are modified as per the needs help us serve our clients effectively every time and puts them ahead of their competitors.
Our team provides a detailed, high quality and deeply researched evaluations in competitive prices, that are unmatchable, and demonstrates our understanding of our client’s resource composition. These reports support our clientele make important procurement and supply chains choices that further helps them to place themselves ahead of their counterparts. We also offer attractive discounts or rebates on our forth coming reports.
Our vision is to enable our clients with superior quality market assessment and actionable evaluations to assist them with taking timely and right decisions. We are always ready to deliver our clients with maximum results by delivering them with customised suggestions to meet their exact needs within the specified timeline and help them understand the market dynamics in a better way.
Email Delivery Price: $ 999.00
The global HEOR market reached a value of about USD 1364.3 million in 2021. The industry is further expected to grow at a CAGR of about 12.81% in the forecast period of 2022-2027 to reach a value of around USD 2779.2 million by 2027.Read More
Email Delivery Price: $ 999.00
The global nutmeg market reached a value of about 134 thousand tonnes in 2021. The industry is further expected to grow at a CAGR of about 4.5% in the forecast period of 2022-2027 to reach a value of around 167 thousand tonnes by 2027.Read More
Email Delivery Price: $ 999.00
The global Artificial Intelligence Market reached a value of about USD 192 Billion in 2021. The industry is projected to grow at a CAGR of around 23% in the forecast period of 2022-2027 to reach a value of about USD 664.86 Billion by 2027.Read More