MRFR Press Release/- Market Research Future published a Cooked Research Report on “Global Isopropyl Alcohol Market Research Report – Forecast to 2027”– Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027.
Crystal Clean Chemicals, Linde, Puritan Products, Huate Gas, Avantor, Denoir Ultra Pure, Crystal Clean Chemicals, Guangfu Fine Chemicals among others are some of the prominent players at the forefront of competition in the Global Isopropyl AlcoholMarket that are profiled in MRFR Analysis.
Isopropyl Alcohol Market – Overview
Isopropyl Alcohol is a clear, colourless and volatile material with a light odour. It possesses physio-chemical and solvency properties similar to those of ethyl alcohol, making it completely miscible with water and soluble in most of the organic solvents. Thus, this leads to the usage of Isopropyl Alcohol in variety of applications such as solvents, drug production, gas dryer, preservative etc. The growing demand of isopropyl alcohol as a solvent in wide range of industries owing to drive the overall market. Further, increasing consumption of Isopropyl Alcohol as a drug production in pharmaceutical & healthcare sector is set to uplift Isopropyl Alcohol demand over the next seven years.
Market Research Future concludes that over the past few years, the Isopropyl Alcohol Market of the world has witnessed a growth and as per the analysis, the growth will remain continue. The growth of the market is attributed towards the continuously increasing growth of the application segment such as solvent, drug production, gas dryer, preservative and others. At commercial level, the direct process of production of Isopropyl Alcohol as a method has acquired the largest segment as the direct hydration is less corrosive than indirect hydration and requires high-purity propylene in contrast to the low-quality propylene that can be used for the indirect process.
The Isopropyl Alcohol as a chemical regent and solvent in chemical industry is one of the most common application in the world. It is notable that the growth of chemical industry will provide great opportunity for new technologies, growing demand for Isopropyl Alcohol Market.
Industry/ Innovation/ Related News:
February 2017 – Deepak Fertilisers and Petrochemicals Corporation Ltd (DFPCL) planned to invest rupees 450 crore to expand the production capacity at its plant in Taloja, near Mumbai. The funds will be used to enhance production of isopropyl alcohol (IPA) and diisopropyl ether (DIPE). The company is the sole manufacturer of IPA in India, a solvent primarily used by the pharma industry. The Pune-based company will expand IPA capacity by 1 lakh tonnes per annum and DIPE production by 70,000 tonnes per annum. The project is expected to be completed in about 30 months. The company has signed a memorandum of understanding with HPCL for supply of key feedstock. A brown field project has synergies such as storage and utilities with the existing IPA plant. The production of high-purity DIPE commands a significant premium. With a manufacturing capacity of 70,000 tonnes per annum, the company enjoys significant market leadership. The capacity utilization of the IPA plant has been over 100 per cent.
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November 2017 – INEOS Enterprises completed the acquisition of Sasol Solvents Germany GmbH assets and the associated business at Sasol’s sites in Moers and Herne. The addition of Sasol’s German based European Solvents businesses provides a complementary fit with the portfolio and expertise of INEOS and opens up new opportunities within its existing manufacturing sites in Germany. Ethanol and isopropyl alcohol are produced at Herne and oxygenated solvents isopropyl alcohol (IPA), secondary butyl alcohol (SBA), and methyl ethyl ketone (MEK) are produced at Moers. The Moers plant also makes plasticizers, synthetic resins and fine chemicals such as alkyl chlorides and aluminum organic compounds. The new business will be able to deliver new opportunities for innovation and growth that will provide significant benefit to its customers.
Isopropyl Alcohol Market – Regional Analysis
Geographically, Asia Pacific region accounted largest market share in the global isopropyl alcohol market and expected to dominate during the forecast period due growing chemical and automotive industry in the region. China being largest consumer, manufacturer and exporter of isopropyl alcohol. India accounted second largest market share by value and volume, and expected to grow with highest annual growth rate due to growing pharmaceutical, cosmetic and personal care, chemical, automotive industries in the countries. In addition to this, North America & Europe have witnessed incremental growth in isopropyl alcohol market owing to strong competition from hydrogen peroxide in the region.
The MRFR studies the key developments adopted by the companies between 2011 and 2016. Players in this market adopted various strategies to expand their footprint and augment their market share. The key strategies followed by most companies in the global isopropyl alcohol market were agreements and collaborations, mergers and acquisitions, joint ventures and expansion. Due to growing demand of isopropyl alcohol in Asia Pacific region, the manufacturers in European region are using acquisition strategy in the Asia Pacific and global market.
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