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Isopropanol Market Is Reach At A Valuation US$ 4.3 Billion By The End Of 2033

Report (1)

The global isopropanol market is valued to be US$ 3.4 billion in 2023 and it is anticipated to grow at a CAGR of 2.5% to reach US$ 4.3 billion by the end of 2033

Growing demand from various application segments such as solvents, cleaners, and defaming agents is likely to drive market demand during the given period. Increasing investments from both private and public sectors are also expected to contribute to market growth. Development of new product offerings by key players such as Dow Chemicals, Shell Chemicals, and ExxonMobil are likely to open up opportunities for market players in the near future.

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Current Market Trends:

  • Surge in Demand for Sanitization Products: The COVID-19 pandemic has led to a significant increase in the demand for sanitization and disinfection products, driving the consumption of isopropanol. Hand sanitizers, surface disinfectants, and cleaning wipes have become essential items, contributing to the rising demand for isopropanol globally.
  • Growing Pharmaceutical Manufacturing: Isopropanol is a crucial ingredient in the pharmaceutical industry, used for cleaning and disinfecting equipment and surfaces in manufacturing facilities. With the expanding pharmaceutical sector and the increased focus on healthcare, the demand for isopropanol in pharmaceutical applications is witnessing steady growth.
  • Cosmetics and Personal Care Products: Isopropanol is a common ingredient in cosmetics and personal care products, including perfumes, lotions, and nail polish removers. The cosmetic industry’s continuous innovation and product development contribute to sustained demand for isopropanol as a versatile solvent and ingredient.
  • Industrial Applications: Isopropanol finds applications in various industrial processes, including the manufacturing of coatings, inks, and adhesives. Its solubility properties make it an effective solvent, and its volatility allows for quick drying in industrial applications, supporting efficiency and productivity in manufacturing processes.
  • Bio-Based Isopropanol Production: A notable trend in the isopropanol market is the exploration and development of bio-based production methods. Manufacturers are investing in research and development to produce isopropanol from renewable feedstocks, aligning with the industry’s commitment to sustainability and reducing dependence on fossil fuels.

Key Companies Profiled:

  • Exxon Mobil Corporation
  • Royal Dutch Shell plc
  • BP P.L.C
  • PT Santos International
  • LyondellBasell Industries
  • Repsol SA
  • SK Energy Co., Ltd.
  • Braskem SA
  • Sinopec Group
  • National Oilwell Varco, Inc.

Segmentation of Isopropanol Industry Research:

· By Grade Type:

  • Technical Grade
    • Direct Solvent Grade
    • Chemical Derivatives Grade
  • Pharmaceutical Grade
  • Cosmetic Grade
  • Electronic Grade

·  By Manufacturing Process:

  • Indirect Hydration of Propylene
  • Direct Hydration of Propylene
  • Catalytic Hydrogenation of Acetone

· By Primary Function:

  • Dissolving Agent
  • Cleaning & Drying Agent
  • Disinfectant
  • Anti – freezing Agent
  • Synthetic Flavoring Adjuvant
  • Antiseptics
  • Anti-adhesives
  • Others

·  By Application:

  • Pharmaceuticals
  • Homecare
  • Cosmetic & Personal Care
  • Chemical Intermediates
  • Electronics
  • Others

· By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa

Key Questions Covered in the Isopropanol Market Report:

  • What are the market size & forecasts of the Isopropanol Market?
  • Which are the top operational and emerging players in the Isopropanol Market?
  • What are the market dynamics of the Isopropanol Market?
  • What are the key, high growth markets that Isopropanol Market is targeting?
  • What are the strengths and weakness of the key vendors?
  • What are the emerging application and technology trends in Isopropanol Market?
  • What are the key market and technology trends impacting the growth of Isopropanol Market?

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Industry News and Developments:

  • Supply Chain Challenges: The isopropanol market has faced challenges related to supply chain disruptions, particularly during the peak of the COVID-19 pandemic. Increased demand for sanitization products led to supply shortages, prompting industry players to strategize and enhance production capabilities to meet market needs.
  • Investments in Production Capacity: Recognizing the surge in demand, several companies in the isopropanol market have announced investments in expanding production capacities. This includes the construction of new facilities and the optimization of existing ones to ensure a stable and sufficient supply of isopropanol to the market.
  • Strategic Partnerships for Innovation: Collaborations and partnerships within the industry are driving innovation and sustainable practices. Companies are joining forces to develop new production technologies, improve the efficiency of existing processes, and explore eco-friendly alternatives, emphasizing the importance of collective efforts in advancing the isopropanol market.
  • Focus on Sustainable Packaging: Sustainability is gaining importance in the isopropanol market, not only in production methods but also in packaging. Manufacturers are increasingly adopting sustainable packaging solutions, such as recyclable materials and reduced packaging waste, to align with environmental conservation goals.
  • Regulatory Compliance and Quality Assurance: The isopropanol industry is navigating evolving regulatory landscapes, particularly in the context of the increased use of isopropanol in sanitization and healthcare products. Ensuring regulatory compliance and maintaining high-quality standards are paramount considerations for companies operating in the market.

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