Global Rubbing Alcohol Market (2021-2027) by Grade, Application, End-User, and Geography, IGR Competitive Analysis, Impact of Covid-19, Ansoff Analysis

Global Rubbing Alcohol Market (2021-2027) by Grade, Application, End-User, and Geography, IGR Competitive Analysis, Impact of Covid-19, Ansoff Analysis

Introduction

The Global Rubbing Alcohol Market is estimated to be USD 4.6 Bn in 2021 and is expected to reach USD 10.37 Bn by 2027, growing at a CAGR of 14.5%.

With the global pandemic crisis, the consumption patterns in the healthcare sector have changed recently, leading to high demand for disinfectants and thus ensuring the growth of this market. Companies operating in this market are operating their businesses through JVs, which shall also benefit market growth. Factors such as increasing demand for rubbing alcohol due to high volume consumption of sanitizers by consumers as well as the adoption of cleaning agents in industry-wide sectors shall positively drive the market. High demand, along with a low cost of production, is a crucial feature that is expected to aid alcohol suppliers.

Conversely, factors such as substitutes and price fluctuation of raw materials shall hamper market growth. To comply with the administrative regulations such as pre-market approval, especially in the case of alcohol being used in the food, pharmaceutical, and personal care sectors, is a challenging factor for the rubbing alcohol market.

Market Dynamics

Drivers

• Wide Variety of Industrial and Household Chemical Applications
• High Volume Consumption in the Light of the Pandemic
• Use in Development of Consumer Cleaning Products owing to Awareness About Hygiene
• Rising Production Capacity due to COVID-19

Restraints

• Alternative Ways to Produce Acetone
• Fluctuating Prices of Raw-Material

Opportunities

• Recent Developments and Technological Innovations in Bioisopropanol and Bio-Ethanol
• Increasing use in Automobile, Pharmaceutical & Healthcare Industry

Challenges

• Control on Limited use due to Inflammable Property
• Approval of the Regulatory Bodies

Trends

• Increasing Use of Bio-fuels

Segmentation

By Grade, the Industrial Grade segment is estimated to account as the fast-growing segment during the forecasted period. It is mainly due to the application of rubbing alcohol in various industrial sectors such as personal care and cosmetics, pharmaceuticals, paints, and coatings, etc. Though due to the recent pandemic, there has been a sluggish demand seen from almost all the industrial sectors, they are yet seen to be slowly rising in the forecasted period.

By Application, Cleaning Agents segment is estimated to account as the fast-growing segment during the forecasted period. It is mainly due to the rapid adoption of cleaning agents at households as well as commercial sites in the wake of the COVID pandemic. As these agents are known to have high resistance to microbes, viruses, bacteria’s and other pathogens, they are preferred cleaning solutions. Besides, changing perceptions regarding the sanitation methods are likely to boost the market further.

By End User, the Commercial segment is estimated to account as the fast-growing segment during the forecasted period. The factors for the growth of this segment is the growing need for economically viable sanitizing products in varied industrial applications coupled with the after-effects of the pandemic. Besides, its use in various industries like cosmetics, pharmaceuticals, and industrial ethanol-based hand sanitizers shall further augment the growth of this market due to the low cost of production.

By Geography, APAC is anticipated to lead the market. The factors attributing to the growth of the market are the rising adoption of cosmetics and personal care products due to the influence of the west in the APAC region. Also, China and India are the two largest regions with high consumption of rubbing alcohol across industry-wide segments.

The Global Rubbing Alcohol Market is further segmented based on Grade, Application, End-User, and Geography.

Global Rubbing Alcohol Market, By Grade

• Introduction
• Domestic Grade
• Industrial Grade
• Laboratory Grade
• Technical Grade

Global Rubbing Alcohol Market, By Application

• Introduction
• Cleaning Agent
• Coating Solvent
• Intermediate
• Process Solvent

Global Rubbing Alcohol Market, By End User

• Introduction
• Commercial
• Residential

Global Rubbing Alcohol Market, By Geography

• Introduction
• North America
• South America
• Europe
• Asia Pacific
• Rest of the World

Company Profiles

Some of the companies covered in this report are Ami Chemicals, BASF AG, Clariant AG, Exxon Mobil Corporation, Haishi Hainuo, Winnermedical and Rexall Laboratories and Chemicals Corp etc.

IGR Competitive Quadrant

The report includes IGR Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Why buy this report?

The report offers a comprehensive evaluation of the Global Rubbing Alcohol Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
The report includes in-depth market analysis using Porter’s 5 force model and the Ansoff Matrix. The impact of Covid-19 on the market is also featured in the report.
The report also contains the competitive analysis using IGR Positioning Quadrants, Infogence’s Proprietary competitive positioning tool.

Report Highlights:

• A complete analysis of the market including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players