Global Isopropyl Alcohol Market Size 2021 Analysis By Top Companies, And Forecast To 2026

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ChemIntel360’s global Isopropyl Alcohol market study is a 210+ slide report containing in-depth analysis on historical and forecasted spending and consumption patterns in the sector. We offer granular value and volume data from a global, regional, and applications industry perspective. The industry is valued at US$3.6 billion and is expected to grow at a CAGR of 6.4% mainly due to increasing consumption of the chemical in hand sanitizers and disinfectant formulations, the demand for which is projected to support market growth over the forecast period.

Covid Impact

The Covid-19 pandemic had an adverse impact on the Isopropyl Alcohol market. Almost all industry verticals saw an acute decline in demand of isopropyl alcohol. Pharmaceutical, Cosmetics and Personal Care are the key applications of Isopropyl alcohol market. The pandemic had a negative effect on the cosmetics industry. Because of lockdown measures implemented to reduce the spread of virus, sales plummeted across all beauty segments. However, the growing use of hand sanitizers bolstered the demand for Isopropyl Alcohol market.

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As many health guidelines stated the regular use of hand sanitizers to reduce the spread of the coronavirus, the sale of the hand sanitizers saw a strong increase in 2020. In addition, rising demand for the chemicals as a solvent in cleaning products contributed to the growth of the market, with many companies witnessing strong sales of cleaning products.

Drivers

Manufacturing of antiseptic solutions is one of the key applications of the chemical as it displays outstanding disinfectant characteristics. In addition, the chemical is utilized in the manufacture of cleaning agent, substrate disinfectant, as electronic parts cleaning fluid. Globally, the pandemic has led to strong demand of sanitizers, personal care formulations, as well as other pharmaceutical products required to uphold personal hygiene.

Opportunities

Isopropyl Alcohol is being utilized as an astringent material, which assists reduction of skin pores leading to smoother skin tone. In addition to this, it is widely utilized in manufacture of skincare formulations, hair care and bath products. As the cosmetics industry would witness a strong growth aided by the gradual opening of the economy, the Isopropyl Alcohol market would see a corresponding positive ripple effect.

Challenge

Conventionally, Isopropyl Alcohol is one of the key raw feed stock used in the production of Acetone. New viable methods for the production of acetone without the use of Isopropyl Alcohol would curtail the growth of the Isopropyl Alcohol Market. For instance, in Cumene process, Cumene is oxidized in presence of Phenol to form Acetone.

Trends

The key trend observed in the market is the growing use of chemical for the manufacture of surface coatings and inks. It is also being utilized to reduce the density and boiling point of essential oils.

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Key Companies

The leading companies operating in this market are Dow Chemical, Royal Dutch Shell, Ecolab, Linde, Mistral Industrial Chemicals, ReAgent Chemicals Ltd., INEOS Corporation, and LyondellBasell Industries

Developments

Shell revived the operations of its 75,000 tons per annum of isopropyl alcohol facility in Singapore in June 2020 to cater to the growing use of hand sanitizers in the region.

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