Isopropyl Alcohol Market 2019: Analysis, Size, Share, Growth and Trends by Forecast to 2023
Isopropyl Alcohol or isopropanol is a colorless, flammable and the simplest secondary alcohol with the chemical formula C3H8O. Isopropyl alcohol is a stock material for a wide array of chemicals such as antiseptics, disinfectants, pharmaceuticals, dyes, antifreeze, and detergents.
The Wide Array of Uses and Application Expanse Is Expected To Drive a Sustainable Growth of the Market
The application expanse as cleaner and solvent in windows frost in automotive industries, disinfectant, manufacturing of beer, polymerization modifier, and others coupled with its use as a universal solvent is another driver of the market. Isopropyl Alcohol is a stock material to a host of chemical intermediates and other chemicals such as isopropyl acetate, aluminum isopropoxides, and others.
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Pharmaceutical and Automotive Industries Expected To Drive a Significant Demand
The universal application and growing prosperity of end-user industries such as automotive, healthcare, chemicals, and others is the prime determinant of the market. The growth of the market is driven by the pharmaceutical sector with cosmetics being the fastest application expanse. Consumption of industrial grade isopropanol accounts for more than 77 % of total demand. The market of anhydrous isopropyl alcohol is expected to grow at the fastest rate.
The major vendors serving the Global Isopropyl Alcohol Market are Huate Gas, Crystal Clean Chemicals, Crystal Clean Chemicals, Guangfu Fine Chemicals Linde, Denoir Ultra-Pure, Puritan Products, Avantor, and others.
Adverse Effects and Manufacturing Regulations May Hamper the Market
Adverse effects of Isopropyl Alcohol such as respiratory irritation, internal bleeding, visual & hearing problems, which can be fatal or poisonous, are the restraints on the market. Growing stringency of environmental regulations especially the volatile organic compounds are other restraints on the market.
The volatile price and temporary glut in the availability of acetone, an essential material needed in the production of Isopropyl Alcohol is a severe threat to the market. Global Isopropyl Alcohol based acetone production has decreased in North America, and Western Europe.
To generate a comprehensive assessment of the Global Isopropyl Alcohol Market, the report has been segmented by Application, Production Methods and Regions.
By Application, the market has been segmented by automotive, laboratory, medical, solvents and others.
Based on Production Methods, the market has been segmented by indirect hydration, direct hydration, and others.
Based on Regions, the market has been segmented by North America, Europe, Asia Pacific, Middle East and Africa.
Asia Pacific region accounts for the most significant share of the Global Isopropyl Alcohol Market, owing to enormous demand, and growing industrialization. China and India account for the lion’s share of the market followed by Japan, Vietnam, and Indonesia.
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India represents the most attractive market opportunity owing to a monopolistic market. The Indian market is a monopoly of Deepak Fertilizers and Petrochemicals Corporation Limited, with an installed capacity of 70,000 metric tons per annum. Deepak Fertilizers and Petrochemicals Corporation Limited is the only domestic producer of Isopropyl Alcohol in India. The chemical industry, coating, and ink industry are the primary end users of isopropanol in the country with the demand from the Indian pharmaceutical industry accounted for the fastest growth in the market.
North America market is led by the U.S. The U.S. market is in part dependent on Chinese imports. Europe led by Germany, France, and the U.K. accounted for the third most significant markets. The Middle East and Africa market are dominated by the Gulf economies of Saudi Arabia, UAE, Kuwait, and Qatar.
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