About Isopropyl Alcohol
Isopropyl Alcohol is an organic compound with wide range of applications. It is manufactured by synthesis of propylene with sulfuric acid, then followed by hydrolysis process. Isopropyl Alcohol is the most common and first ever commercially sold synthetic oil. With the recent pandemic, demand for sanitizers has skyrocketed this has led to boom in growth of Isopropyl Alcohol Market. Apart from Medical Use, Isopropyl Alcohol is also being widely used in Adhesives, Sealants, Lubricants and Speciality Chemicals. Currently, Asia Pacific is the biggest market of the Isopropyl Alcohol, but demand for the chemical has increased worldwide.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Competition among existing players is due to the Isopropyl Alcohol market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Isopropyl Alcohol Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Isopropyl Alcohol market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Exxon Mobil Corporation (United States), Dow Chemical Company (United States), LyondellBasell Industries N.V. (Netherlands), Royal Dutch Shell plc (Netherlands), BASF SE (Germany), Clariant AG (Switzerland), LG Chem (South Korea), ENEOS Corporation (Japan), Sasol Ltd. (South Africa) and Sigma-Aldrich (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Linde plc (Ireland), Greenfield Global Inc. Specialty Alcohols (Canada) and Eastman Chemical Company (United States).
Segmentation Overview
AMA Research has segmented the market of Global Isopropyl Alcohol market by , Application (Pharmaceuticals, Adhesives and sealants, Preservatives, Coatings additives, Lubricants and Others) and Region.
On the basis of geography, the market of Isopropyl Alcohol has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel , the sub-segment i.e. Direct will boost the Isopropyl Alcohol market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Grade Type , the sub-segment i.e. Industrial Grade will boost the Isopropyl Alcohol market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End Use, the sub-segment i.e. Automotive will boost the Isopropyl Alcohol market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Expenditure Cosmetics Industry
Market Growth Drivers:
Growth of Healthcare and Pharmaceutical Demand due to Recent Pandemic, specifically Sanitizers Growth in Demand, Increase in demand for Decorative Paints and Rising Applications in Food and Beverages Industry
Challenges:
Intense Competition from Growing Number of Players and Presence of Counterfeit Products
Restraints:
Hazardous and Toxic Nature of Isopropyl Alcohol
Opportunities:
Growing Investment in Pharmaceutical Industry
Market Leaders and their expansionary development strategies
In 2020, a joint Venture between Royal Dutch Shell plc and Vivo Lubricants based in Kenya had converted its blending plant for lubricants into a Hand Sanitizer Manufacturing Plant. Shell has also increased its Isopropyl Alcohol production for medical applications and donated IP to various to governments. and In 2020, Exxon Mobil Corporation, US based Multinational Oil Corporation has announced boosting of its Isopropyl Alcohol Production by 3,000 tonnes/month to meet increasing demand of medical grade sanitizers.
Key Target Audience
Isopropyl Alcohol Manufacturers, Suppliers and Distributors, Venture Capitalists and Private Equity Firms, New Entrants/Investors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.