Isopropyl Alcohol Market Size to Grow USD 3093.2 Million by 2029 at a CAGR of 3.1% | Valuates Reports
BANGALORE, India, April 3, 2023 /PRNewswire/ -- The Global Isopropyl Alcohol Market is Segmented by Type (Industrial Grade, Medical Grade), by Application (Cosmetics and Personal Care, Acetone, Pharmaceuticals, Chemical Intermediate): Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Chemicals Industry Category.
The global Isopropyl Alcohol market was valued at USD 2486.8 million in 2022 and is anticipated to reach USD 3093.2 million by 2029, witnessing a CAGR of 3.1% during the forecast period 2023-2029.
Major factors driving the growth of the Isopropyl Alcohol Market:
Because of its superior solvency properties, isopropyl alcohol (IPA) is acknowledged as one of the most important solvents in end-use sectors. Due to the substance's potent disinfectant qualities, it is also a vital component used in numerous medical facilities, pharmaceuticals, and medical devices. This factor is expected to drive the growth of the Isopropyl Alcohol market.
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TRENDS INFLUENCING THE GROWTH OF ISOPROPYL ALCOHOL MARKET:
Bacteria on the epidermis are either killed or prevented from growing by isopropyl alcohol. Using topical isopropyl alcohol on the skin can help stop bacterial skin infections from small scrapes or wounds. In healthcare environments, isopropyl alcohol is used to stop infections that could result from needle punctures. This factor is expected to drive the growth of the Isopropyl Alcohol market
All surfaces in the house, from the countertop to the toilet bowl, can be cleaned and disinfected with IPA. Due to its antiseptic qualities, it will eliminate any remaining germs, and due to its solvent properties, it will be able to remove sticky stains, grease, oils, and other substances. Even permanent markers can be removed from surfaces by dissolving them into a liquid form and removing them with a simple wipe. This factor is expected to drive the growth of the Isopropyl Alcohol market
Isopropyl alcohol is a go-to for cleaning electrical devices, from computer screens to contact pins in ROM cartridges. This is due to the fact that it can completely clean a component without damaging it or leaving any streaks. It is frequently employed in the electrical sector to clean IC packages, optical disc drive lasers, and magnetic tape. It won't harm the surface, so it can even use to remove fingerprints from CDs and DVDs. IPA can also be found in aerosol form, which is ideal for electrical components with intricate geometries or that are challenging to reach. This factor is expected to drive the growth of the Isopropyl Alcohol market
Hand sanitizer, also referred to as hand antiseptic, is an antiseptic that is applied to the hands in the form of a foam, gel, or liquid to get rid of bacteria that can cause illness. Both items that are sold elsewhere and those that are only accessible in pharmacies are included. Since gel-based hand sanitizers are more approachable and efficient at killing germs than sprays and other hand sanitizers, they are likely to make up a sizable portion of the market. Foam-based hand sanitizers are anticipated to develop more quickly, despite the fact that they are smaller and easier to apply when compared to other types. This factor is expected to drive the growth of the Isopropyl Alcohol market.
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ISOPROPYL ALCOHOL MARKET SHARE ANALYSIS:
Through 2028, a substantial portion of new IPA demand is expected to come from Asia Pacific alone due to the region's expanding middle class, rising living standards, and rapidly expanding infrastructure.
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Key Companies:
- Carboclor
- Dow Chemicals
- ISU Chemicals
- LG Chem
- Mitsui Chemicals.
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SIMILAR REPORTS:
- High-purity Isopropyl Alcohol (IPA) market size is estimated to be worth USD 97.1 million in 2022 and is forecast to be a readjusted size of USD 149.7 million by 2029 with a CAGR of 6.3% during the forecast period 2023-2029.
- Semiconductor Grade Isopropyl Alcohol Market
- Electronic Grade Isopropyl Alcohol Market
- Quaternary Ammonium Compounds market was valued at USD 1178.6 million in 2022 and is anticipated to reach USD 1545.5 million by 2029, witnessing a CAGR of 4.3% during the forecast period 2023-2029.
- Hydrogen Peroxide market size is estimated to be worth USD 4338.3 Million in 2022 and is forecast to a readjusted size of USD 5240.8 Million by 2028 with a CAGR of 3.2% during the forecast period 2022-2028.
- Surfactants market size is projected to reach USD 38320 Million by 2027, from USD 31910 Million in 2020, at a CAGR of 3.1% during 2021-2027.
- Sterile Alcohol Solutions Market
- Pharmaceutical Grade Isopropyl Alcohol Market
- Alcohol Based Disinfectant market was valued at USD 1626.7 million in 2022 and is anticipated to reach USD 2606.1 million by 2029, witnessing a CAGR of 6.9% during the forecast period 2023-2029.
- UV disinfection equipment market was valued at USD 1.3 Billion in 2019 and is projected to reach USD 5.7 Billion by 2027, growing at a CAGR of 17.1% from 2020 to 2027.
- UV Disinfection Modules Market
- Surface Disinfectant market was valued at USD 729.5 Million in 2020 and it is expected to reach USD 1215.5 Million by the end of 2027, growing at a CAGR of 7.2% during 2021-2027.
- Ultraviolet (UV) Disinfection Equipment for HVAC Market
- Antiseptic and Disinfectant market size is about 46 Billion in 2021, growing at a CAGR of 6.3%.
- North America Hand Sanitizer Gel and Hand Soap Market
- Hand Sanitizer and Hand wash Market
- Hand Hygiene Compliance Monitoring Systems market was valued at USD 104.8 million in 2022 and is anticipated to reach USD 172.5 million by 2029, witnessing a CAGR of 7.8% during the forecast period 2023-2029.
- Healthcare and Laboratory UV Disinfection Market
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