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Global Isopropyl Alcohol Market it is anticipated to reach at market value of US$ 6.6 Bn by 2027,
Bizizz Market Research has recently published a research report, “Isopropyl Alcohol Market by Application (Process Solvent, Cleaning Agent, Coating Solvent, Intermediate, and Others) by End-Use Industry (Cosmetics and Body Care, Pharmaceutical, Food and Beverages, Paints and Coatings, Chemical, and Others) and Region-Global Industry Trends, Estimation & Forecast, 2019 - 2027”.
As per the report, Global Isopropyl Alcohol Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 6.6 Bn by 2027, witnessing a CAGR of 3.2 % during the forecast period. Key drivers of the market are rising healthcare and pharmaceutical industry, significant demand from several end-use industries, and increasing income per capita.
The global isopropyl alcohol market is majorly driven by rising demand from pharmaceutical and healthcare industry. The chemical has antimicrobial properties which makes it suitable for disinfectant production. Also, isopropyl alcohol is applied on skin before injection as it has water content at a major extent.
The Isopropyl Alcohol Market Is Anticipated To Register A CAGR Of Over 3.2 % During The Forecast Period.
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Adverse Effects of Isopropyl Alcohol Might Hamper the Growth of Global Market During the Forecast Period
Isopropyl alcohol has inflammation properties which can cause to several adverse effects including dizziness, headache nausea, and vomiting commencing to unconsciousness. This is anticipated to limit the sale of isopropyl alcohol during the forecast period. Moreover, the extremely flammable characteristics require additional storage and transportation expenditure which might hamper the market growth at a minimal extent.
North America Is Anticipated To Hold Prominent Share During the Forecast Period
In terms of region, Asia Pacific is anticipated to lead the global market over the forecast period. The region occupied 36.2 % share in 2018. The growth of the region can be attributed to significant demand for food additives from aviation sector. Additionally, huge expenditure on chemical sector is anticipated to favor the regional growth. Furthermore, Europe is expected to witness remarkable growth in forthcoming years. This is mainly due to rising health awareness coupled with increasing cases of contagious illnesses in European countries.
The global market is consolidated with few global players. Companies are focused on strategic merger and acquisitions intended to expand their global overage and product portfolio which will eventually help them strengthening their foothold in global market.
Prominent players operating in the Global Isopropyl Alcohol Market are: The Dow Chemical Company, LyondellBasell Industries N.V., Deepak Fertilizers and Petrochemicals Corporation Limited, China Petroleum & Chemical Corporation, Royal Dutch Shell Plc, Mitsui Chemicals Inc., INEOS Enterprises, LG Chem, Perrigo Company plc, Mitsubishi Chemical Corporation, Clariant AG, and Exxon Mobil Corporation, among others.
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