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Global Isopropanol Industry Report: Analysis and Forecast 2022-2027

Global Isopropanol Industry Report: Analysis and Forecast 2022-2027

Regional Category Spend, Primary Demand, Price Analysis and Indicators, and Best Buying Practices of the Isopropanol Industry Report

The global Isopropanol industry was valued to be worth 3.98 billion in 2021. In the projection period of 2022-2027, the industry is expected to grow at a CAGR of around 5 percent, achieving a value of around USD 5.15 billion by 2027.

The Isopropanol industry report broadly studies the industry, together with important segments, movements, drivers, constraints, the competitive landscape, and other critical market features. The exceptional solubility characteristics of isopropanol, which itself is renowned as being one of the important solvents in various applications, are fueling the market growth. The Asia Pacific the biggest category spender by region which is impelling the demand for the Isopropanol industry.

Isopropanol: Industry Definition and Segmentation

Scope

Isopropanol, commonly known as isopropyl alcohol, is a white, solvent that scents like methylated spirits. It’s an enantiomer of propyl alcohol possessing antiseptic activity. It is thought to have fibroblast characteristics, including such thermal decomposition cell enzymes and Proteins, disrupting enzymatic reactions, and disintegrating cell phospholipid barriers.

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The global isopropanol industry report comprises segments:

  • By application: Solvent Application, Chemical Intermediates, Households, and Cosmetics, Pharmaceuticals
  • By region: North America, Europe, Asia Pacific, the Middle East, Africa, and South America

Snapshot of the Report

The regional markets for the industry can be divided into North America, Europe, Asia Pacific, the Middle East, Africa, and South America.

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Category Drivers

The chemical is used to make rubbing alcohol, sanitizer, and other products, which fuels industry demand. It’s also used to purify and extract natural products including animal and vegetable oils, waxes, resins, flavourings, lipids, vitamins, and so on, which helps to expand the market. Moreover, it is applied in the pharmaceutical industry. Isopropyl alcohol is found in 70% of alcohol swabs and alcohol wipes, which are used to clean wounds. It’s used in electronics; the rise of semiconductor integrated circuits and consumer electronics has spurred a surge in demand for electronic-grade isopropanol. It’s also used as a chiller in the brewing process and as a polymerisation modifier in the production of polyvinyl fluoride.

In medicinal and cosmetic uses, different grades of isopropyl alcohol are employed. As a result, the industry will see higher demand because of the following applications.

Category Insight by Region

Due to strong demand for the product in China’s chemical, pharmaceutical, automotive, and construction sectors, the Asia Pacific region owns a major part of the market. The rising solvent market in the country gives the market a major boost. Furthermore, the market is likely to be propelled by the region’s quick growth in the building sector, chemical industry, and increased demand for cosmetics and pharmaceutical items.

Because it’s used as a solvent in wood furniture, paints, and inks, the sector is booming. It is used in paints and coatings as an inert solvent to reduce the flammability of the coatings during transit and storage. It’s mostly used as a water-based paint thinner and an ink component. As a result, the market demand is bolstered by rising construction activity around the world. The chemical is used to clean flux residues and other handling soils after soldering. Natural resins, acrylic, ethylcellulose, epoxy resins, polyvinyl butyral, gum alkaloids, and various essential oils, among other things, are diluted using this water-missile material.

Best Procurement Practices

The global isopropanol alcohol industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by the major isopropanol products across the globe, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.

Category Management Studies

Direct propylene hydration, indirect propylene hydration, and catalytic hydrogenation of acetone are the three techniques for producing isopropanol. Direct hydration, as opposed to indirect hydration with sulfuric acid, is less corrosive. The direct process, unlike the indirect method, which can use a dilute refinery stream, requires a pure propylene input. Propylene is mixed with sulfuric acid to generate mono- and diisopropyl sulphates, which are then hydrolyzed to isopropanol in the indirect-hydration process. In the two-step strong-acid approach, separate reactors are used for the propylene absorption phase and the hydrolysis of the sulphate esters. The reaction takes place at a low temperature (e.g., 20–30 °C) and a high sulfuric acid concentration (> 80% wt).

At a higher temperature (60–65 °C) and a lower acid concentration (60–80 percent wt), the weak-acid process is completed in a single stage.

Key Supplier Profiles included in the Global Isopropanol Industry Report

The key market players are Methanex Corporation, Ar Razi Saudi Methanol Company, Methanol (Holdings) Trinidad Ltd. (MHTL), Zagros Petrochemical Company, and Shenhua Ningxia Coal Industry Group Co.Ltd.

The report covers capacity additions, plant shutdowns, investments/divestments, mergers and acquisitions, and other latest developments in the market.

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Procurement Resource

Procurement Resource ensures that our clients remain at the vanguard of their industries by providing actionable procurement intelligence with the help of our expert analysts, researchers, and domain experts.