Asia Pacific Isopropyl Alcohol Market – Industry Analysis and Forecast (2021-2027) by Application, End-user Industry and Region

Asia Pacific Isopropyl Alcohol Market was valued US$ 1.07 Bn. in 2020 and is expected to reach US$ 1.64 Bn. by 2027, at CAGR of 6.3 % during forecast period of 2021 to 2027.

Isopropyl alcohol is an isomer of 1-propanol, a colorless liquid with disinfectant properties. The chemical formula of isopropyl alcohol is C3H8O. It is used in various purposes at home, in different industrial processes and pharmaceutical applications. The most general product that contains isopropanol is rubbing alcohol, containing 70% isopropanol or ethanol. It is used in the production of a wide variety of industrial and household chemicals. It is also a common ingredient in chemicals such as detergents, antiseptics, and disinfectants.



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Asia Pacific Isopropyl Alcohol Market Dynamics
The constant growth of the Isopropyl Alcohol Market is expected to endure positive, driven by socio-economic factors like increasing disposable income, population growth, rapid urbanization, and economic growth worldwide. This socio-economic catalyzing the development of various downstream industries such as paints and coatings, pharmaceuticals, automotive, and cosmetics industry. Moreover, the growth in chemical production particularly in the countries like India, China and Japan is projected to be another key driver for increase in the demand for isopropyl alcohol for solvent applications. The increasing per capita disposable income and better-quality standards of living of the people globally are probable to boost the demand for various cosmetics and personal care products, which in turn is expected to propel the requirement for isopropyl alcohol as a solvent in various manufacturing processes. The market price of isopropyl alcohol of reagent grades (ACS) US$ 805.0 to 815.0 / Ton.

Additionally, the vigorous growth of the pharmaceutical and healthcare industries is considered to be another factor driving the growth of the isopropyl market. This rapid growth in automotive production and sales is expected to drive the growth of Asia Pacific Isopropyl Alcohol Market during the forecast period. Moreover, the increasing demand for coatings and paints from the automotive industries and construction is expected to drive the ultimatum for isopropyl alcohol as a raw material during the forecast period.
Asia Pacific Isopropyl Alcohol Market Segment Analysis
Isopropyl Alcohol Market is segmented in terms of application, end-user industry and region.

On the basis of application, the Asia Pacific Isopropyl Alcohol Market can be divided into solvent, cleaning agent, intermediate, coating solvent, and others. Isopropyl alcohol dissolves a wide range of non-polar compounds. It also vaporizes quickly and leave a slight amount of oil traces compared to ethanol. It is comparatively non-toxic compared to other solvents. Therefore, isopropyl alcohol is used widely as a cleaning fluid and solvent, specifically for dissolving oils.

Based on end-use industry, the Isopropyl Alcohol Market can be separated into pharmaceutical, food & beverages, paints & coatings, personal care & cosmetics, and chemical. Isopropanol is used in lotions and soaps as an antiseptic. In the food & beverages industry, it is used for the extraction and purification of natural products, such as vegetable and animal oils and fats, gums resins, waxes, colors, flavorings, alkaloids, vitamins, kelp and alginates. It is also used as carrier solvent in the production of food products.
Asia Pacific Isopropyl Alcohol Market Regional Analysis
On the basis of region Asia Pacific Isopropyl Alcohol Market divided into five countries such as China, Japan, India, ASEAN and Rest of Asia Pacific. Among all the regions, the India and China had the largest market share in 2020 and is projected to lead the market during the forecast period, by reason of high demand from numerous industries such as pharmaceuticals, personal care and cosmetics, and chemicals. China is projected to be the largest and fastest-growing market in Asia-Pacific, followed by India and Japan. The Shipments of Isopropyl Alcohol into China totaled around XX tones in the first nine months of 2020, down by 10.23% compared with the same ¬period in 2020, according to research analyst, by the reasons of the drop in imports in recent years has been accompanied by a corresponding rise in domestic Isopropyl Alcohol production. The mandate for derivative applications such as paints and resins has also slowed in China in 2020 as a result of weak global economic conditions. Furthermore, Acetone-based IPA supply was mostly continuous despite small hitches at major Chinese plants. India is expected to the second-largest market for Isopropyl Alcohol Market because of sensible growth during the forecast period driven by increasing chemical and pharmaceutical industry in India.

Key players operating the Isopropyl Alcohol market are Exxon Mobil Corporation, The Dow Chemical Company, Mitsui Chemicals Inc., Perrigo Company plc, China Petroleum & Chemical Corporation Royal Dutch Shell Plc., Clariant AG, LyondellBasell Industries N.V., INEOS Enterprises, LG Chem, Mitsubishi Chemical Corporation, and Deepak Fertilisers and Petrochemicals Corporation Limited.

The objective of the report is to present comprehensive analysis of Asia Pacific Isopropyl Alcohol Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.

The report also helps in understanding Asia Pacific Isopropyl Alcohol Market dynamics, structure by analyzing the market segments, and project the Asia Pacific Isopropyl Alcohol Market size. Clear representation of competitive analysis of key players by Isopropyl Alcohol Type, price, financial position, product portfolio, growth strategies, and regional presence in the Asia Pacific Isopropyl Alcohol Market make the report investor’s guide.
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Asia Pacific Isopropyl Alcohol Market


Report Coverage
Details


Base Year:
2020
Forecast Period:
2021-2027


Historical Data:
2016 to 2020
Market Size in 2020:
US $ 1.07 Bn.


Forecast Period 2021 to 2027 CAGR:
6.3%
Market Size in 2027:
US $ 1.64 Bn.


 Segments Covered:
by Application
• Process Solvent
• Cleaning Agent
• Coating Solvent
• Intermediate
• Other Applications


by End-user Industry
• Cosmetic and Personal Care
• Pharmaceutical
• Food and Beverage
• Paints and Coatings
• Chemical
• Other End-user Industries



Asia Pacific Isopropyl Alcohol Market, by Region
• China
• Japan
• India
• ASEAN
• Rest of Asia Pacific
Isopropyl Alcohol Market, Major Players
• Exxon Mobil Corporation
• The Dow Chemical Company
• Royal Dutch Shell Plc
• Clariant AG
• Mitsui Chemicals Inc.
• Perrigo Company plc
• China Petroleum & Chemical Corporation
• LyondellBasell Industries N.V.
• INEOS Enterprises
• LG Chem
• Mitsubishi Chemical Corporation
• Deepak Fertilizers and Petrochemicals Corporation Limited.
• BASF SE
• Holdings B.V.
• B.S. Mehra Sons Pvt. Ltd.
• SRK Enterprises Ghaziabad
• Shandong Chemichase Chemical Co.,Ltd
• Nivāat Chem Tech
• HiTech Minerals and Chemicals