IMARC Group, a leading market research company, has recently released a report titled “Isopropyl Alcohol Market Report by Application (Process Solvent, Cleaning Agent, Coating Solvent, Intermediate, and Others), Industry (Cosmetic and Personal care, Pharmaceutical, Food and Beverage, Paints and Coatings, Chemical, and Others), and Region 2024-2032”. The study provides a detailed analysis of the industry, including the global isopropyl alcohol market share, trends, size, and industry trends forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global isopropyl alcohol market size reached US$ 4.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 6.3 Billion by 2032, exhibiting a growth rate (CAGR) of 3.4% during 2024-2032.
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Isopropyl Alcohol Market
Isopropyl alcohol is a transparent, combustible fluid characterized by the chemical formula C3H8O. It has a wide range of applications, including cleaning electronic devices, disinfecting surfaces, removing stains, and as a solvent in various industries. It is also actively involved in the pharmaceutical sector for medicine formulation and in the cosmetic industry for the development of skincare items.
Moreover, isopropyl alcohol evaporates quickly and leaves no residue, making it suitable for cleaning sensitive electronic compnents.
Isopropyl Alcohol Market Trends
The ongoing extensive use of isopropyl alcohol in the pharmaceutical industry to produce medicines, vaccines, and other healthcare products is a key factor creating a positive outlook for the market. Concurrently, the electronics sector is leveraging isopropyl alcohol’s non-conductive and quick-evaporating traits for cleaning electronic components and circuitry, thereby serving as another catalyst for market growth.
Moreover, the widespread product adoption in the cosmetics and personal care industry as a solvent, antiseptic, and preservative, is contributing to the market growth. Besides this, isopropyl alcohol is actively utilized as a solvent in the fabrication of paints, inks, and coatings, stimulating its demand in both the construction and automotive fields.
Additionally, the chemical sector is using isopropyl alcohol as a precursor in the synthesis of diverse chemicals, further fueling the market growth. Other factors, including the growing adoption in the automotive industry and an increased emphasis on research and development (R&D), are projected to positively influence the market trajectory.
Isopropyl Alcohol Market Report Segmentation:
By Application:
- Process Solvent
- Cleaning Agent
- Coating Solvent
- Intermediate
- Others
By Industry:
- Cosmetic and Personal care
- Pharmaceutical
- Food and Beverage
- Paints and Coatings
- Chemical
- Others
Regional Insights:
- Asia
- North America
- Europe
- South America
- Others
Competitive Landscape with Key Players:
The competitive landscape of the isopropyl alcohol market size has been studied in the report with the detailed profiles of the key players operating in the market.
Some of These Key Players Include:
- The Dow Chemical company
- Exxon Mobil
- Shell Chemicals Europe B.V.
- INEOS Enterprises Group Limited
- Super Chemical Technology Co. Ltd.
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Key Highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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