Dublin, Aug. 23, 2023 (GLOBE NEWSWIRE) -- The "Global Isopropyl Alcohol (IPA) Market: Growth, Trends, and Forecasts (2023-2028)" report has been added to ResearchAndMarkets.com's offering.
The global isopropyl alcohol (IPA) market is poised to experience a Compound Annual Growth Rate (CAGR) exceeding 4% during the forecast period. The market encountered disruptions from the COVID-19 pandemic, leading to production declines in sectors like chemicals, paints, and coatings. However, this was offset by heightened sanitizer production.
Key Highlights
- Medium-Term Drivers: The medium-term outlook for the IPA market is promising due to the increasing utilization of IPA in cosmetic and personal care products, its widespread use as a cleaning agent, and sustained demand from the pharmaceutical sector for sanitizer production.
- Challenges: On the other hand, the availability of alternative acetone production methods remains a significant concern for the market. The market faces competition from these alternatives.
- Innovation in Bio-based IPA: The introduction of bio-based isopropyl alcohol is expected to create opportunities for the market in the coming years. As sustainability gains importance, bio-based solutions have the potential to reshape the market landscape.
- Asia-Pacific Dominance: The Asia-Pacific region takes the lead in the global IPA market, with substantial demand from China, India, and Japan.
Isopropyl Alcohol (IPA) Market Trends
- Pharmaceutical Sector Dominance: The pharmaceutical segment is a key end-user of isopropyl alcohol. It finds application in alcohol swabs, wound cleaning wipes, hand sanitizers, and ear drops. Oral mouthwash solutions also contain IPA. The pharmaceutical industry's increasing expenditure globally and heightened health concerns during the COVID-19 pandemic further drive IPA demand.
- Asia-Pacific Leadership: The Asia-Pacific region holds a strong position in the market. Factors like investments in the chemical industry, growing demand for cosmetics and pharmaceuticals, and the impact of COVID-19 on the pharmaceutical sector contribute to the region's dominance.
Market Competitor Analysis
The isopropyl alcohol market exhibits consolidation, with major players including Shell PLC, INEOS, ExxonMobil Corporation, Dow, and Kailing Chemical (Zhangjiagang) Co. Ltd., among others.
In conclusion, the global isopropyl alcohol market is projected for growth, driven by factors such as its role in the pharmaceutical, cosmetic, and cleaning sectors. The demand for sanitizers during the pandemic significantly bolstered its consumption. The market faces challenges from alternative acetone production methods but also sees opportunities in bio-based solutions. The Asia-Pacific region, particularly China, India, and Japan, leads the market with their contributions to pharmaceuticals, chemicals, and other industries.
Key Topics Covered
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Personal Care Industry Globally
4.1.2 Wide Usage of IPA as Cleaning Agents
4.1.3 Growing Demand for IPA from the Pharmaceutical Industry for Sanitizer Production
4.2 Restraints
4.2.1 Alternative Ways Available to Production of Acetone
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION (Market Size in Value and Volume)
5.1 Application
5.1.1 Process and Preparation Solvent
5.1.2 Cleaning and Drying Agent
5.1.3 Coating and Dye Solvent
5.1.4 Intermediate
5.1.5 Other Applications
5.2 End-user Industry
5.2.1 Cosmetics and Personal Care
5.2.2 Pharmaceutical
5.2.3 Electronics
5.2.4 Paints and Coatings
5.2.5 Chemicals
5.2.6 Other End-user Industries
5.3 Geography
5.3.1 Asia-Pacific
5.3.2 North America
5.3.3 Europe
5.3.4 South America
5.3.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis (%)
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 China National Petroleum Corporation
6.4.2 Dow
6.4.3 ENEOS Corporation
6.4.4 ExxonMobil Corporation
6.4.5 Ineos
6.4.6 Kailing Chemical (Zhangjiagang) Co. Ltd.
6.4.7 LCY GROUP
6.4.8 LG Chem
6.4.9 Mitsui Chemicals Inc.
6.4.10 Shell PLC
6.4.11 Yancheng Super Chemical Technology Co. Ltd.
6.4.12 Zhejiang Xinhua Chemical Co. Ltd.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Innovation in Bio-based Isopropyl Alcohol
For more information about this report visit https://www.researchandmarkets.com/r/bbjf1i
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Attachments
- Isopropyl Alcohol Market Isopropyl Alcohol I P A Market Revenue C A G R By End User Industry Global 2022 2027
- Isopropyl Alcohol Market Isopropyl Alcohol I P A Market Growth Rate By Region 2022 2027
