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Insights on the Global Isopropyl Alcohol Market 2020-2024 | COVID-19 Analysis, Drivers, Restraints, Opportunities and Threats | Technavio


The global isopropyl alcohol market size is expected to grow by 521.75 k Tons during 2020-2024, progressing at a CAGR of almost 4% during the forecast period.

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The high-volume consumption in solvents is one of the major factors propelling market growth. However, factors such as volatility in crude oil prices will hamper market growth.

The high-volume consumption in solvents is driving isopropyl alcohol market growth. Isopropyl alcohol is the most widely used solvent due to its excellent solvency properties. It can be directly utilized in applications such as inks, pesticide and herbicide formulations, resin production, and surface coatings. Isopropyl alcohol acts as a highly effective solvent in surface coatings, due to its high miscibility in water and non-polar solvents. It is also used in acrylic emulsions and resins to create various textures. Moreover, due to its low toxicity, low boiling point, and less density, it is also utilized to dilute essential oils. This will lead to an increase in the consumption of isopropyl alcohol in solvents, driving the market growth.

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Global Isopropyl Alcohol Market: Application Landscape

Isopropyl alcohol is one of the most widely used solvents in a wide range of end-use industries for different applications, including surface coatings, cleaning and disinfectant solutions, food and beverages, and printing. Hospitals use alcohol wipes and sanitizers made of isopropyl alcohol. Isopropyl alcohol is highly effective in eliminating pathogenic microbes, including bacteria, fungi, and viruses. Hence, the use of hand sanitizers and alcohol wipes has increased worldwide recently to combat the COVID-19 virus. Market growth in this segment will be faster than the growth of the market in the chemical intermediates, pharmaceuticals, and other segments.

Global Isopropyl Alcohol Market: Geographic Landscape

The rapidly growing pharmaceutical and sector, food and beverage industry, cosmetics and personal care sector, and chemicals industry will significantly drive isopropyl alcohol market growth in this region over the forecast period. Over 50% of the market's growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for isopropyl alcohol in APAC. Market growth in this region will be faster than the growth of the market in other regions.

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Related Reports on Materials Include:

Global Benzyl Alcohol Market: The benzyl alcohol market size has the potential to grow by 18.50 K MT during 2020-2024, and the market's growth momentum will accelerate during the forecast period. To get extensive research insights: Click and Get FREE Sample Report in Minutes!

Global Alcohol Ethoxylates Market: The alcohol ethoxylates market size has the potential to grow by USD 1.29 bn during 2020-2024, and the market's growth momentum will accelerate during the forecast period. To get extensive research insights: Click and Get FREE Sample Report in Minutes!

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Isopropyl Alcohol Market 2020-2024: Key Highlights

Table of Contents:

Executive Summary

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation by Application

Customer landscape

Geographic Landscape

Drivers, Challenges, and Trends

Vendor Landscape

Vendor Analysis

Appendix

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