Global Isopropyl Alcohol Market Set to Grow at Healthy CAGR of 3.25% by 2026
Added: (Tue Oct 01 2019)
Global
Isopropyl Alcohol Market is expected to rise from its initial estimated value of USD 4.95 billion in 2018 to an estimated value of USD 6.39 billion by 2026, registering a CAGR of 3.25% in the forecast period of 2019-2026. Increasing demand of the product from end- user is the major factor for the growth of this market.
Isopropyl alcohol is also known 2- propanol is a first synthetic alcohol which is colorless and flammable and has strong odor. They are miscible in water, ethanol, ether and chloroform and dissolves with ethyl cellulose, polyvinyl butyral, many oils, alkaloids, gums and natural resins. Cosmetics, skin and hair products, perfumes, pharmaceuticals, lacquers, dyes, cleaners, antifreezes and other chemicals usually use this chemical.
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Competitive Analysis: Global Isopropyl Alcohol Market
Global isopropyl alcohol market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of isopropyl alcohol market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Isopropyl Alcohol Market
Few of the major competitors currently working in isopropyl alcohol market are Ami Chemicals, BASF SE, Clariant, Exxon Mobil Corporation, Honeywell International Inc., JXTG Nippon Oil & Energy Corporation, LCY GROUP, LG Chem, LyondellBasell Industries Holdings B.V., Mitsui Chemicals, Inc., Perrigo Company plc, Royal Dutch Shell, DowDuPont, ISU CHEMICAL.
Segmentation: Global Isopropyl Alcohol Market
- By Application (Process Solvent, Cleaning Agent, Coating Agent, Intermediate)
- By Grade (70% IPA, 90% IPA)
- By Production Method (Direct Hydration, Indirect Hydration, Hydrogenation Of Acetone)
- By End- User (Cosmetic & Personal care, Pharmaceutical, Food & Beverage Industry, Paints & Coatings, Chemical)
- By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
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Market Drivers:
Increasing demand for cosmetics and personal care products is driving the market.
IPA is widely used as cleaning agent which is another factor driving the growth of this market.
Market Restraint:
- The availability of alternate ways for the production of acetone is restraining the market.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved
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Submitted by:kelvindbmr