Isopropanol Market Key Trends in Terms of Volume and Value 2018 to 2028

Posted on 2019-08-21 by Mark Hub in Industrial // 0 Comments

Isopropanol has gained a significant industrial imperativeness as a solvent, on account of its compatibility with most of the water-based solvents. This property of isopropanol has further augmented its demand in the cosmetic industry, driven by growing use of personal care products and cosmetics. Virucidal, bactericidal, fungicidal, and anti-microbial properties of isopropanol are being leveraged in sterilizing and disinfecting surfaces in hospitals, food processing equipment, and household dwellings. Isopropanol is also sought-after as a cleaning agent for electronic components, particularly in semiconductor industry where consumption of semiconductor-grade isopropanol remains substantial.

The term rubbing alcohol which stems from its use as a medicinal rubdown has a number of application in the health industry and is a known staple in most home cabinets. The use of isopropanol as antiseptic has been approved by FDA as a clinical hand sanitizer and surgical scrub and rubbing alcohol has a host of uses which expands to astringent, liniment for muscle aches, home cleaning, anti-fungal and anti-bacterial properties. In light of this, pharmaceutical companies prefer pharmaceutical-grade variant in the course of the production of products incorporating more than two-third isopropanol in water.

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Use of isopropanol as biofuel has grown in traction in the recent past, according to the study. Isopropanol is expected to take over gasoline as producing isopropanol from microbes has become feasible through engineered synthetic pathways. As such, the evolution of green chemicals which encourages adoption of bio-based chemicals is set to inspire manufacturers to adopt biological method of production apropos isopropanol. Besides, use of lignocellulosic waste to manufacture isopropanol provides an option for a viable production of the compound.

Imbalance in demand and supply of isopropanol has compelled leading manufacturers such as ExxonMobil, LyondellBasell, Shell and Monument to increase the cost of isopropanol. Accordingly, isopropanol manufacturers have tilted towards acetone-based production method amidst fluctuating cost of propylene.
Isopropanol Market: Overview

The report provides a coherent assessment on isopropanol market with the assistant of qualitative and quantitative assessment. The report delves into the segmentation of the market to offer insights on the isopropanol. The report also delineates the drivers, restraints, opportunities and trends surrounding the isopropanol market.

Application of Isopropanol as Biofuel to Emerge as a Key Trend

An emerging trend being witnessed in the isopropanol market is its surging use as a biofuel. Recent analyses made to devise engineered synthetic pathways for producing isopropanol from microbes have meant that significant potential lies for isopropanol’s utilization as a biofuel for replacing gasoline. Moreover, manufacturing isopropanol using lignocellulosic waste represents a remunerative avenue for economically-feasible production of the compound. With the rise in era of green chemicals, which promotes adoption of bio-based chemicals, biological production methods of isopropanol will be sought-after in the upcoming years, thereby impacting the market growth.

Shifting preference for light-feed petrochemicals in developed markets have led to the shortage in supply of isopropanol, with demand surging without leaps and bounds, which in turn has resulted in significant price hike of the compound. This, coupled with prevailing uncertainties in cost of propylene, has advocated isopropanol manufacturers to employ acetone-based production method. Fundamental benefits associated with the method, such as facilitated production of electronic- and pharma-grade isopropanol, will pave new avenues for the market in the forthcoming years.

The analysis of the report is backed up by secondary research and primary research. The secondary sources encompasses Factiva, veracious paid source, resourceful database and trade journals. The primary source includes unbiased views of experts, seasoned analyst, including surveys and interviews. The report is propelled by absolute dollar opportunity analysis which substantiates the development of the isopropanol market.

Isopropanol Market: Competitive Scenario

A robust assessment of competitive scenario of the isopropanol market is propelled by an exhaustive assessment of Porters’ Five Force Analysis offering inputs on potential strategic steps taken competitors. The report incorporates financial overview, portfolio of the product, recent development, namely.

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