The global isopropyl alcohol market has been climbing ladders of success at a rapid pace in the last few years. The main driving force behind its growth is the beneficial quality of the compound itself. It is one of the most versatile substances to work with.
Isopropyl alcohol is a colorless liquid that possesses a strong, musty odor. This substance is obtained through a combination of propane and water. For its production, processes like direct hydration or indirect hydration are utilized. It is flammable in nature and has a very high vapor pressure. The best quality about this compound is that it is completely water soluble and hence it can be applied as a cleaning fluid, disinfectant or solvent.
The global isopropyl alcohol market is anticipated to come across several growth prospects in the upcoming forecast period. Figuratively too, the future looks pretty bright for this market as the CAGR and estimated revenue return numerals look encouraging.
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At present, the demand for isopropyl alcohol is quite high in a number of industries like solvents, automotive, medical and laboratory. The multipurpose quality of this compound happens to be a major driving force for the market.
Isopropyl alcohol can also be utilized as a cleaning agent in combination with ethyl alcohol and N-propyl alcohol. This is another factor that further fosters isopropyl alcohol’s market. The rapid development in the automotive industry also works in the favor of the market’s growth. As a combined effect of all of these factors, the market is expected to generate a huge turnover in the forthcoming forecast period.
Recently, Transonic, a well-known medical equipment manufacturing company announced that henceforth it will be using isopropyl alcohol as a lubricant for their product Transonic Hemodialysis Flowsensors. The researchers of this firm came to this decision because of the disinfectant qualities of isopropyl alcohol. This development is expected to positively influence the market’s growth.
Market Players & Key Strategies:
Some of the most successful players in this market can be listed as Crystal Clean Chemicals, Guangfu Fine Chemicals, Linde and Puritan Products.
To make sure that they stay ahead of the competitors these brands employ various growth strategies like an expansion of business, acquisitions and strategic partnerships with other firms.
The study report published by Market Research Future on ‘Isopropyl Alcohol Market’ has a specific section that provides a detailed segmental analysis. Here is a small impression of that segment.
By production methods – Direct hydration and indirect hydration.
By end-users – Chemical segments, cosmetic & personal care, paints & coatings, pharmaceutical and food & beverage. Out of these chemical and cosmetic & personal care segment governed the market with the maximum number of shares.
By applications – Solvents, automotive, laboratory and medical. Amongst the listed segments, solvents have successfully acquired the maximum shares of the market.
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Comprehensive Regional Analysis:
Isopropyl alcohol market has effectively established its hold across various verticals over the world. Some of the main regions where its presence can be predominantly observed can be enlisted as North America, Europe, Middle East & Africa, Asia Pacific and Rest of the World.
The research report by Market Research Future suggests that North America commands the market from a regional point of view. During the projection period, this region is anticipated to tread forward at a promising CAGR. The next in line after North America is Europe. This area owes its growth to the business roped in by Western Europe. Higher annual income, increased awareness about personal hygiene are the two major aspects that can be held responsible for the expansion of his region. Asia Pacific too is expected to witness significant growth by during the projection span.
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