Isopropyl alcohol, also known as isopropanol or IPA, is a colorless, flammable liquid with a strong odor. It is a versatile compound that finds widespread use in various industries, including healthcare, manufacturing, electronics, and cleaning. Isopropyl alcohol, also known as 2-propanol, is one of the most common members of the alcohol family of organic compounds, Isopropyl alcohol is used as a disinfecting agent and as an antiseptic agent to apply and clean the skin before injection.

The healthcare industry is expanding due to factors such as an aging population, increased access to healthcare services, and advancements in medical technology. Isopropyl alcohol plays a critical role in healthcare settings as a disinfectant for medical instruments, surfaces, and skin preparation, driving its demand in this sector.

The report “Isopropyl Alcohol Market, By Application (Antiseptic & Astringent, Cleaning Agent, Solvent, Chemical Intermediate), By End Use Industry ( Cosmetics & Personal care, Pharmaceutical, Food & beverages, Agrochemicals, Paints & Coatings, Chemical), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030 “

Key Highlights:

• In August 2022, South Korean petrochemical firm SK Geo Centric has started construction with Tokyo-based chemical firm Tokuyama on a facility to produce semiconductor water surface wash materials, in a city about 300 kilometers southeast of Seoul, the company announced in August. SK geo. Centric aims to produce about 30,000 tonnes of semiconductor red high-purity isopropyl alcohol per year through a 50:50 joint venture with Tokuyama called stac from 2024.
• In September 2021, BASF introduces a range of new catalysts which will be presented during the upcoming European Petrochemical Associations Conference (EPCA) in a series of webinars. The catalyst has undergone testing and is approved to hydrogenate acetone to create IPA. Ni 3354 E enables IPA producers to work at high temperatures and throughput rates without experiencing a loss in selectivity, enhancing production.

Analyst View:

According to projections, the healthcare sector will develop as a result of population expansion, ageing populations, and improvements in medical technology. As the need for healthcare services rises, so will the demand for isopropyl alcohol, which is crucial for disinfection in hospital environments. The market is witnessing a growing demand for sustainable and bio-based alternatives to conventional isopropyl alcohol. This trend is driven by environmental concerns, regulations promoting sustainability, and consumer preferences for eco-friendly products. The development and adoption of such alternatives may influence the growth trajectory of Isopropyl Alcohol Market

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Isopropyl Alcohol Market, By Application (Antiseptic & Astringent, Cleaning Agent, Solvent, Chemical Intermediate), By End Use Industry (Cosmetics & Personal care, Pharmaceutical, Food & beverages, Agrochemicals, Paints & Coatings, Chemical), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032

Key Market Insights from the report:

Isopropyl Alcohol Market accounted for US$ 3.62 billion in 2022 and is estimated to be US$ 6.3 billion by 2032 and is anticipated to register a CAGR of 4.57%. The Isopropyl Alcohol Market is segmented based on Application, End-Use Industry and Region.

• Based on Application, Isopropyl Alcohol Market is segmented into Antiseptic & Astringent, Cleaning Agent, Solvent, and Chemical Intermediate.
• Based on End-Use Industry, Isopropyl Alcohol Market is segmented into Cosmetics & Personal care, Pharmaceutical, Food & beverages, Agrochemicals, Paints & Coatings, and Chemical.
• By Region, the Isopropyl Alcohol Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape & their strategies of Isopropyl Alcohol Market:

The prominent players operating in the Isopropyl Alcohol Market includes Tokuyama Corporation, Deepak Fertilizers & Petrochemicals Corporation, LG Chem, Kailing Chemical Co., Ltd, Exxon Mobil Corporation, Puritan Products, DongYing Naire Technology, INEOS Enterprises, Mitsui Chemicals, Inc., and LCY Group.

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