According to the latest report by IMARC Group, titled “Isopropyl Alcohol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global isopropyl alcohol market reached a volume of 2.2 Million Tons in 2017, growing at a CAGR of around 3% during 2010-2017. Isopropyl alcohol is a propyl isomer which exhibits disinfectant properties and is used for the production of acetone as well as its derivatives. It is a volatile, flammable and colourless liquid having a strong odour and is miscible in water, ether, ethanol and chloroform. Isopropyl alcohol can not be mixed with salt solutions owing to which it can be separated from aqueous solutions by adding sodium chloride to them. Earlier, it was primarily used for the oxidation to acetone for the preparation of Cordite which is a smokeless propellant. Whereas, now isopropyl alcohol is utilised in the extraction process as well as in the form of a de-icing agent for lacquers and liquid fuels.

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One of the major factors which is driving the isopropyl alcohol market is the increasing use of isopropyl alcohol as a solvent across numerous industries including cleaning, pharmaceutical, and paints and coatings among others. There has also been an increase in the demand for the development of flex cars and biofuels in order to promote the safety of environment which has, in turn, contributed towards the propelled demand for isopropyl alcohol across the globe. Moreover, isopropyl alcohol can be used for purifying and extracting natural products such as animal and vegetable oils, waxes, resins, flavourings, fats and vitamins, etc., which is positively influencing the market growth. However, the supply of raw materials used for the production of isopropyl alcohol is fluctuating due to which their prices are consistently rising. This remains as a key hindrance towards the growth of the market. Looking forward, the market value is projected to reach a volume of 2.53 Million Tons by 2023.

Market Segmentation:

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Market Segmentation

Market Breakup by Application

1. Process Solvent
2. Cleaning Agent
3. Coating Solvent
4. Intermediate
5. Others

Market Breakup by Industry

1. Cosmetic and Personal care
2. Pharmaceutical
3. Food and Beverage
4. Paints and Coatings
5. Chemical
6. Others

Performance of Key Regions

1. Asia
2. North America
3. Europe
4. South America
5. Others

Browse similar reports by IMARC Group

India Extra Neutral Alcohol (ENA) Market Report: https://www.imarcgroup.com/extra-neutral-alcohol-market-india

Global Oxo-Alcohol Market Research Report: https://www.imarcgroup.com/oxo-alcohol-technical-material-market-report

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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.