Isopropyl Alcohol Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3789
Isopropyl Alcohol Market size is set to experience high gains in the coming years with growing demand from pharmaceutical, cosmetics and personal care markets owing to shift in global trend for lifestyle change. The product is used as a solvent and disinfectant pharmaceutical application including oral mouthwashes, disinfecting pads, hand sanitizers and ear drops due to low toxicity. In addition, it finds industrial application as a solvent for chemical reaction, dehydrating agent and coupling agent in cleaners and polishes. These factors would positively influence isopropyl alcohol market size.
Isopropyl alcohol market size is influenced by its application as an antiseptic owing to its antimicrobial properties against bacteria. Product concentration ranging between 70% and 99% with water is used to swab skin before injection application and any other operation pertaining to skin piercing. The product is also effective disinfectant and finds application as surface disinfectant in hospital. The product is certified by Environmental Protection Agency (EPA) to be effective against Human HIV-1, Hepatitis B and Mycobacterium Tuberculosis viruses. Global antiseptic and disinfectant market are projected to surpass USD 10.5 billion by 2026 driving isopropyl alcohol market size.
Isopropyl alcohol (IPA) market size is like to experience significant gains in the forecasted time frame owing to its application in automobile industry as fuel additives. It acts as a gas dryer to prevent fuels freezing in supply lines at low temperatures. The product being water soluble prevents accumulation in supply line. To prevent poor braking performance in an automobile owing to braking pads contamination IPA is used for removing brake fluid traces in hydraulic braking systems. The product is also used for deicing of windshields and door locks in form of aerosol cans.
Isopropyl alcohol market size may register significant growth in personal care application owing to rising demand in skin toner and tightening formulas. Its astringent properties to make skin smoother by tightening and contracting skin pores along with body tissues. It also helps to make creams feel light, penetrate actives in skin and acts as preservative mainly in bath products, aftershaves, makeup and skin care products.
Global pharmaceutical spending poised to surpass USD 1.5 trillion by 2023 The product is used to treat aching muscles. It is also used as an effective liniment to reduce pain and swelling when applied over skin to improve blood circulation. In addition, IPA is used in ear drops formulation to prevent residual moisture formation, thus effective against swimmer’s ear infection, thereby driving isopropyl alcohol industry growth.
Isopropyl alcohol is used in laboratories for its sterilizing and antiseptic properties. The laboratory reagent market is likely to surpass USD 22.5 billion by 2022. Rising importance of molecular biology and growing opportunity in pharmaceutical research for drug development, forensics and medical diagnostics would propel laboratory reagent market, thus propelling isopropyl alcohol market growth. The product finds application as alternative to ethyl alcohol in staining procedure owing to its cost effectiveness. It is also a nontoxic alternative for formaldehyde to preserve biological specimens. Isopropyl alcohol is also having potential application in DNA extraction owing to its insolubility in product. It is added to DNA solution to precipitate DNA in form of a pellet after centrifugation.
Specified storage conditions owing to highly flammables nature will incur additional storage and transportation cost while product procurement which is likely to challenge industry profitability, thereby affecting isopropyl alcohol market price trends. Moreover, it can cause irritation in skin when in contact and ingestion by swallowing or inhaling will cause dizziness, headache nausea and vomiting leading to unconsciousness which may act as a restraining factor towards industry growth.
North America led by Mexico, Canada and the U.S. isopropyl alcohol market size is likely to experience growth owing to rising demand for fuel additives from aviation industry. It is the largest producer and consumer for fuel additives and thereby likely to propel regional product demand. High investments in chemical industry supported by capacity expansion by major players will favor regional industry growth. Covestro announced an investment of over USD 1.5 billion in chemical plant at Texas, these strategic initiatives will have positive impact on industry growth.
Europe led by Spain, U K, France and Germany isopropyl alcohol market size is projected significant growth owing to shifting trend to lead healthier lifestyle. Increasing health consciousness and prevalence of infectious diseases will propel Europe surface disinfectant market, which is projecting to surpass USD 273.5 million by 2023, thus driving regional industry growth. Moreover, rising cosmetic and personal care production mainly in France and Germany owing to rising exports will positively impact isopropyl alcohol demand.
Asia Pacific led by Japan, India and China isopropyl alcohol market is projected to experience significant growth in the estimated timeline. Rising healthcare expenses supported by growing geriatric population along with growing investments in medical sector will favor regional product demand. In addition, growing personal care and grooming importance has led to rise in demand for beauty products, thus driving regional industry growth.
Global isopropyl alcohol market share is consolidated as market consist of limited players. Sisco Research Laboratories Pvt. Ltd, Dow Du Pont, Tokuyama Corporation, Merck KGaA, Mitsui Chemicals, Inc., LG Chem, Jiangsu Denoir Technology Co. Ltd, Deepak Fertilizers & Petrochemicals Corp., Carboclor SA, Isu Chemical Co., Ltd and Royal Dutch Shell PLC. are key players in the market.
Isopropyl Alcohol Market, By Application, 2014-2025 (Tons) (USD Million)
- Industrial Solvent
- Cleaning agent
- Coating agent
- Chemical intermediate
Isopropyl Alcohol Market, By End-Use, 2014-2025 (Tons) (USD Million)
- Personal care
- Paint & Coatings
- Food & beverage
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Sisco Research Laboratories Pvt. Ltd
- Dow Du Pont, Tokuyama Corporation
- Merck KGaA, Mitsui Chemicals, Inc.
- LG Chem
- Jiangsu Denoir Technology Co. Ltd,
- Deepak Fertilizers & Petrochemicals Corp.,
- Carboclor SA
- Isu Chemical Co., Ltd
- Royal Dutch Shell PLC.
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