According to IMARC Group’s latest report, titled “Isopropyl Alcohol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”,the global isopropyl alcohol market reached a value of US$ 4.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 5.4 Billion by 2027, exhibiting a CAGR of 4.1% during 2022-2027.
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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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Isopropyl Alcohol Market Trends:
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.
Competitive Landscape with Key Players:
The market is concentrated with the top 5 players accounting for more than half of the entire market.
Key Market Segmentation:
The report has categorized the market based on application and industry.
Breakup by Application:
Breakup by Industry:
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Key highlights of the report:
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