Global Isopropyl Alcohol Market - Growth, Trends, and Forecasts (2017 - 2022)
The demand for Isopropyl Alcohol (IPA) is driven by the solvent applications in various industries, such as cosmetic, pharmaceutical, paints & coatings, cleaning, etc.Isopropyl alcohol is produced from either the direct catalytic reduction of acetone or indirect hydration of propene. IPA is used to create many other compounds, such as isopropyl amines, isopropyl esters, and derivative ketones among others. Although isopropanol is mostly used as a solvent, it is also used as a coolant during the manufacturing of beer and as a polymerization modifier during the production of polyvinyl fluoride. The major challenge faced by the IPA market is the availability of alternate ways of production of acetone, which was earlier produced through IPA.The most important driver for the IPA market is the increasing use of cosmetic and personal care products, where IPA is used as a solvent. Another important driver for the IPA market is the use of IPA as cleaning agents, owing to the miscible nature with non-polar solvents and water.The IPA market is segmented by application and end-user. On the basis of application, the market is segmented into process solvent, cleaning agent, coating solvent, intermediates, and ‘others’, with the process solvent and cleaning agent being the major segments. On the basis of end-use industries, the market is categorized into: Cosmetic & personal care, pharmaceutical, food & beverage, paints & coatings, chemical, and ‘others’, with cosmetic & personal care, and chemical segments dominating the market.
Areas with Scope for Isopropyl Alcohol:North America is a major consumer of isopropyl alcohol, among regions that include North America, Asia-Pacific, Europe, South America, and the Middle East & Africa and is expected to witness moderate growth, during 2017-2022 (the forecast period). Europe is the second-largest consumer of IPA. Increasing disposable incomes, coupled with rising awareness about personal care products, has led to an increase in the consumption of IPA in the regions. The Asia-Pacific is expected to witness significant growth during 2017-2022 (the forecast period), owing to IPA’s solvent applications. Since Brazil is one of major producers of cosmetic & personal care products, South America is expected to witness significant growth opportunities for the IPA market.
Notable Developments in the Market
• In Dec 2016, Green Biologics, which produces bio-based renewable chemicals, started shipments of bio-based high purity 100% isopropyl alcohol, bio-based n-butanol, and acetone.
Why Purchase the Global Isopropyl Alcohol Market Report?
• Know About: The latest regulations & policies of the isopropyl alcohol market
• Analyzing various perspectives of the market, with Porter’s five forces analysis
• By application and end-user, which segment of isopropyl alcohol is expected to dominate the market?
• Which regions are expected to witness the fastest growth during the forecast period?
• Identify the latest developments, market shares, and strategies employed by major market players, such as:
o BASF SE
o Royal Dutch Shell Plc.
o Exxon Mobil Corporation
o The DOW Chemical Company