Global Iso Propyl Alcohol Market Analysis: Plant Capacity, Production, Operating Efficiency, Process, Demand & Supply, Grade, End Use, Application, Sales Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2030
Global Iso Propyl Alcohol (IPA) demand stood at 2.98 Million Tonnes in 2020 and is forecast to reach 5.19 Million Tonnes by 2030, growing at a healthy CAGR of 6.02% until 2030. The sudden onset of the global pandemic COVID-19 has caused demand for hand sanitizers to skyrocket in the international market, leading to huge demand for Iso Propyl Alcohol. Moreover, rapid industrialization and infrastructural investments across major economies are further likely to create a strong demand for IPA from 2021-2030.
IPA is a clear colorless liquid easily miscible with water, ethanol, ethers, and other solvents. IPA production can happen through three routes, viz., indirect hydration of Propylene, direct hydration of Propylene and catalytic hydrogenation of Acetone. While Propylene-based IPA remains the most used production process in the current market scenario, Acetone-based IPA is being phased out gradually. LG Chem Ltd. is the only Acetone-based IPA manufacturer in the world. Among various grades of IPA available, Industrial grade IPA accounted for the highest share in 2019 as consumption of solvents and chemical intermediates took an upswing during the year. Being highly evaporative and extremely safe, IPA is also used for sterilization application in healthcare and pharma sector. Increasing purchasing power of consumers would create a need for higher consumption of IPA and IPA-based derivatives in cosmetics and personal care products. Even the electronics segment uses IPA as a cleanser and is likely to register a record growth during the forecast period as technology penetration in developing countries would rise substantially. Some players have gone for capacity expansions to accommodate for the sudden surge in IPA demand in the US and Asia-Pacific. IPA consumption is reportedly the highest in North America. However, APAC region was the fastest-growing region among all. IPA’s multi-faceted application across several industries is expected to push demand for the product to unprecedented levels during the forecast period.
Years Considered for this Report:
Historical Years: 2015 – 2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022 – 2030
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Objective of the Study:
- The primary objective of the study was to evaluate and forecast Iso Propyl Alcohol capacity, production, demand and demand – supply gap globally.
- To categorize Iso Propyl Alcohol demand based on grade, end-use, application, region and sales channel.
- To study company shares in Global Iso Propyl Alcohol market.
- To identify major customers of Iso Propyl Alcohol globally.
- To evaluate and forecast Iso Propyl Alcohol pricing in Global Iso Propyl Alcohol market.
- To identify and profile major companies operating in the Global Iso Propyl Alcohol market.
- To identify major news, deals and expansion plans in the Global Iso Propyl Alcohol market.
The Dow Chemical Company, Exxon Mobil Corporation, LyondellBasell Industries Holdings B.V., LG Chem Ltd., Royal Dutch Shell Plc., Clariant AG, Honeywell International Inc., JXTG Nippon Oil & Energy Corporation, Mitsui Chemicals Inc., United States Petroleum & Chemical Corporation, INEOS Enterprises, Deepak Fertilisers and Petrochemicals Corporation Limited etc., are some of the leading players operating in the Global Iso Propyl Alcohol market.
To extract data for the Global Iso Propyl Alcohol market, primary research surveys were conducted with Iso Propyl Alcohol manufacturers, suppliers, distributors, wholesalers and end-users. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end-user segments and projected a positive outlook for Global Iso Propyl Alcohol market over the coming years.
ChemAnalyst calculated Iso Propyl Alcohol global demand by analyzing the historical data and demand forecast was carried out considering Propylene and crude oil prices. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
- Iso Propyl Alcohol manufacturers and other stakeholders
- Organizations, forums and alliances related to Iso Propyl Alcohol distribution
- Government bodies such as regulating authorities and policymakers
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders, such as Iso Propyl Alcohol manufacturers, distributors, importers and end-users. The report also provides useful insights about which market segments should be targeted over the coming years to strategize investments and capitalize on growth opportunities.
In this report, the Global Iso Propyl Alcohol market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Market, by Grade - Industrial/Technical, Cosmetic, Pharmaceutical, Reagent, Electronic
Market, by End-Use - Pharmaceutical, Cosmetics & Personal Care, Chemicals, Paints & Coatings, Food & Beverages, Others
Market, by Application - Process Solvent, Cleaning Agent, Chemical Intermediate, Coating Solvent
Market, by Sales Channel - Direct/Institutional Sales, Indirect Sales
Market, by Region - North America, APAC, Europe, MEA, South America
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This report will be delivered on an online digital platform with a one-year subscription and quarterly update.