Isopropyl Alcohol Market, Share, Growth Rate, Trends, Analysis,...

Isopropyl Alcohol Market, Share, Growth Rate, Trends, Analysis, Future Scope, Forecast To 2030

Posted 2023-05-08 06:55:30

Global Isopropyl Alcohol Market Overview

Isopropyl Alcohol (IPA) or Dimethyl Carbinol or Isopropanol also popularly known as Rubbing Alcohol offers a wide range of applications across industries. It is a common ingredient in antiseptics and disinfectants and hence extensively used in the medical/ Healthcare and laboratory sector. In chemical industry it is used as a solvent and a cleaning fluid and a disinfectant. Similarly, IPA is used in household industry for making detergents and as a cleaner by combining with N-propyl alcohol or ethyl alcohol. Besides, it is used in cleaning or washing automotive (vehicles) glass/windows/mirror especially, during the winter to de-ice it. Owing to the vast area of application IPA perceives a huge market demand drawing a huge market share.

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The Isopropyl Alcohol Market is registered as USD 5.10 billion and is expected to grow at a CAGR of 7.5% during the forecast period (2021-2028).

Acknowledging the kind of traction gained by this market, Market Research Future recently published a study report. According to the report, continuing with the same trends the global IPA market is projected to grow enormously by 2028 and garnering further prominence will register a phenomenal CAGR during 2021 to 2028.

Other factors anticipated to contribute to the market growth predominantly include heavy investments transpired by the IPA manufacturers in to expansion plans. Taking a note from the constantly augmenting demand worldwide, Value Chain Analysis, manufacturers are aggressively investing to increase their production capacity. For instance; considering the growing annual demand for IPA in India and considering the potential demand; on Sep. 24, 2017, Deepak Fertilisers and Petrochemicals Corporation Ltd (India) announced its plan to invest 4.5 billion USD to expand the production capacity at its plant in Taloja, near Mumbai.

On the other hand, IPA has some negative aspects that are limiting its market growth. Such as IPA causes respiratory irritation, internal bleeding and in some cases it has been reported to cause visual hearing problems. Due to which healthcare sector has restricted its uses as an aesthetic. However, the versatile chemical has found some more areas of application acting as a fuel additives in gas dryer and in cleaning of brake oil fluid traces from hydraulic braking systems.

IPA is toxic to some extent and acts as a central nervous system depressant. Inhaling, ingesting or even absorption of IPA could be fatal or poisonous. Hence adequate ventilation is ensured before its application. However, it is not as toxic as methyl alcohol. Apart from its uses as a disinfectant and a cleaner, Isopropyl Alcohol is also widely used in personal care or cosmetic products such as Nail paint remover, perfumes, skin cleaners, deodorants, permanent wave lotions etc.

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Industry/ Innovation/ Related News:

June 16, 2017 – In APIC conference held during 14-16 June ’17, B. Braun Medical Inc. (Palestine) highlighted its commitment to reduce healthcare-acquired infections when it introduces new products that help reduce intraoperative bacterial contamination of stopcocks by introducing two devices in its facilities - DOCit device for male luers and HubScrub device is a female luer disinfector and cleaner. Both devices use 70 % of IPA.

November 2017 – INEOS Enterprises (UK) a multinational chemicals company announced the completion of acquisition process for Sasol Solvents Germany GmbH assets and the associated business at Sasol’s sites in Moers and Herne. The deal provides a complementary fit with the portfolio and expertise of INEOS and opens up new opportunities within its existing (Ethanol and isopropyl alcohol oxygenated solvents isopropyl alcohol (IPA)

Worldwide IPA Market - Segments

For the convenience of the report and enhanced understanding; MRFR analysis has segmented the market in to 3 key dynamics;

By Production Methods : Comprises - Indirect Hydration, Direct Hydration and other

By Application : Automotive, Laboratory, Medical, Solvents and other.

By Regions : North America, Europe, APAC and Rest of the World.

Worldwide IPA Market - Regional Analysis

North America is the biggest market for IPA followed by Europe whereas, Asia Pacific is emerging as a fastest growing market for IPA owing to the increasing automobile industries in this region. In addition, the growing hygiene awareness in Asia Pacific countries drive the market of Isopropyl Alcohol Market. The U.S., Europe, and Japan consists of major manufacturers of Isopropyl alcohol. Isopropyl alcohol does not have major side effects and hence there are no stringent rules against its use especially in North American and European countries. Which in turn is contributing to its market growth.

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