According to IMARC Group’s latest report, titled “Isopropyl Alcohol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global isopropyl alcohol market reached a value of US$ 4.19 Billion in 2020.Isopropyl alcohol or isopropanol is a flammable, colorless and volatile chemical with a strong odor. It is easily soluble with ethanol, ether, chloroform and water and can form strong hydrogen bonds with fluids. Isopropyl alcohol aids in neutralizing bacteria and preventing skin infections, relieving minor muscle pains and disinfecting tick bites. Consequently, it is widely used in hand lotions, aftershaves, and hand sanitizers and as a solvent in essential oils, gum alkaloids and natural resins. It also finds extensive applications across various industries, such as chemical, pharmaceutical, cosmetic and food and beverage.
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The global isopropyl alcohol market is primarily being driven by the widespread product adoption in the chemical industry. Isopropyl alcohol is widely used in the manufacturing of primer, cement, paints and perfumes. Moreover, as the coronavirus disease (COVID-19) continues to spread across the globe, there has been a significant increase in the demand for hand sanitizers and antiseptic solutions, which is providing a thrust to the market growth. Isopropyl alcohol prevents the penetration of viruses and other microorganisms into the skin. Other factors, including the increasing product utilization as a disinfecting and cleaning agent, along with rising expenditure capacities of consumers, are creating a positive outlook for the market. Looking forward, IMARC Group expects the market to grow at a CAGR of 5.2% during 2021-2026.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
The Dow Chemical Company
Exxon Mobil Corporation
Shell Chemicals Europe B.V.
INEOS Enterprises Ltd.
Super Chemical Technology Co. Ltd.
Market Segmentation:
Breakup by Application:
Process Solvent
Cleaning Agent
Coating Solvent
Intermediate
Others
Breakup by Industry:
Cosmetic and Personal care
Pharmaceutical
Food and Beverage
Paints and Coatings
Chemical
Others
Regional Insights:
Asia
North America
Europe
South America
Others
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Key highlights of the report:
Market Performance (2015-2020)
Market Outlook (2021-2026)
Market Trends
Market Drivers and Success Factors
The Impact of COVID-19 on the Global Market
Value Chain Analysis
Structure of the Global Market
Comprehensive mapping of the competitive landscape
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