Pune, India, January 2019/MRFR Press Release/- Market Research Future has published a half-cooked research report on the Global Isopropyl Alcohol Market.
Isopropyl Alcohol Market - Overview
The rising usage of chemicals such as isopropyl alcohol market has amplified substantially due to growing applications. Market reports associated with the chemicals and materials industry have been presented by Market Research Future which makes reports on other industry verticals that aims to analyze the current market scenarios better. The market is anticipated to achieve a substantial CAGR growth in the forecast period.
The escalating usage of isopropyl alcohol in the pharmaceuticals industry is expected to spur the development of the market considerably. The use of isopropyl alcohol is further increased due to its use as a disinfectant in the medical sector. Moreover, the isopropyl market is expected to gain further traction due to the escalating end-user demand for cleaners, polishes and dehydrating agent in the coming years.
The segmental analysis of the isopropyl alcohol market has been carried out on the basis of end-use industry, production method, grade, and region. On the basis of end-use industry, the isopropyl alcohol market has been segmented into automotive, pharmaceuticals, cosmetics and personal care, and chemicals. On the basis of grade, the isopropyl alcohol market has been segmented into 90%+ IPA and 70% IPA. On the basis of production method, the isopropyl alcohol market has been segmented into indirect hydration, direct hydration, and hydrogenation of acetone. The regions included in the isopropyl alcohol market globally North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
Detailed Regional Analysis
The regional analysis of isopropyl alcohol market covers regions such as Europe, Asia Pacific, North America, Latin America, Middle East, and Africa. The Asia Pacific region held the principal share of the isopropyl alcohol market in 2017 and is expected to uphold its control through the forecast period. This is primarily owing to the elevated product demand in key industries such as cosmetics and automotive, pharmaceuticals, personal care, and chemicals. China is the main producer and user of isopropyl alcohol in the region, followed by Japan and India. The North American region and European region are the other important markets for isopropyl alcohol globally. The US is the second principal country in terms of consumption and production of IPA, with high demand in the cosmetics and automotive industries. The market in the European region is expected to observe chief growth owing to the developments in the pharmaceuticals and automotive industries. Lastly, the regions such as the Middle East, Africa, and Latin America are anticipated to develop through the forecast period on account of the increasing personal care and cosmetics industry in the region.
The augmented conformity of market players to new clients and market trend predispositions are advancing the growth curve of the market and will continue in the forecast period. The expansion of the market is moving in a favorable direction due to original product introductions or escalating gross revenue of the players in the market. The calculated goals envisioned for the market are buoyed due to useful product differentiation supported by market contestants. The current implementation of strategies is expected to motivate the market in the impending years. The development of a strong value chain is moreover motivating the expansion of the market. The vertical additions and product tactics of the market are enhancing the potential of the market companies. Substantial cutbacks in administrative budgets are bringing further development of the market.
The key competitors in the isopropyl alcohol market are Royal Dutch Shell PLC (Netherlands), Jiangsu Denoir Technology Co. Ltd (China), Merck KGaA (Germany), Deepak Fertilisers & Petrochemicals Corp. (India), DowDuPont (US), Mitsui Chemicals, Inc. (Japan), Tokuyama Corporation (Japan), LG Chem (South Korea), Carboclor SA (Argentina), Isu Chemical Co., Ltd (South Korea), and Sisco Research Laboratories Pvt. Ltd (India).
Read More Article Details - isopropyl alcohol market