North America Represents a Consolidated Landscape In Isopropanol Industry

Global Chemical Industry Current and Future Scenario

The unprecedented COVID-19 outbreak has caused disruptions in almost every industry across the world. The global chemical industry has experienced a significant decline in the past 1 year, due to the restriction in movement and unstable supply chains.

However, the ongoing vaccination drive in countries like the U.S., the U.K., India, China, and Germany is helping manufacturers and companies to prepare for and augment the speedy recovery of the chemical industry.

From consumer to industrial purposes, isopropanol seeks extensive consumption across a wide range of applications, including personal care & cosmetic products, household products, and industrial sectors such as medical, chemical, and electronics. While being popular as a solvent for use in various industrial processes, isopropanol’s use as a cleaning agent has led the compound to become an imperative ingredient in the semiconductor and electronics industry. However, as the isopropanol market matures, industry stakeholders continue to witness constraints in product and technology innovation alike.

For detailed insights on enhancing your product footprint, request a sample here – https://www.factmr.com/connectus/sample?flag=S&rep_id=836

While some industries are facing a turmoil of supply-demand gap, leading companies are shifting their focus toward employing alternative production methods and expansion of their manufacturing facilities. A recent Fact.MR study projects a volume CAGR of 2.1% for the highly mature isopropanol market in the period of forecast (2018-2028). Over US$ 4,800 Mn worth of isopropanol will be consumed globally by 2028-end. Fluctuation price trend of propylene and crude oil is a key growth deterrent for the isopropanol market in the upcoming years.

Isopropanol Market: Isopropanol Consumption in APEJ Remains Vigorous

Isopropanol market continues to remain vigorous in Asia Pacific excluding Japan (APEJ), with the study projecting over US$ 1,600 Mn worth of isopropanol consumption by 2028-end. Majority share of the isopropanol market in APEJ will remain accounted by China, however consumption rate is expected to be relatively higher in India and ASEAN countries through 2028. Preeminence of the pharmaceutical sector on APEJ’s isopropanol market will prevail. Support of the progressive FMCG sector to the market growth in the region will also remain significant.

For critical insights on this market, request for methodology here – https://www.factmr.com/connectus/sample?flag=RM&rep_id=836

Europe has prevailed as a dominant marketplace for isopropanol in the recent past. However, accusations on major stakeholders such as AAE, the Belgian chemical group, and relevant supply chain participants, such as Anex Customs, and Danmar Logistics, export of chemicals used in sarin nerve gas production, have posed a negative impact on the region’s chemicals market, as isopropanol is no exception.

Nevertheless, promising future of the construction sector, which involves robust consumption of paints and coatings agents, will offset these impacts while driving demand for the compound as an essential prerequisite solvent. According to the study, Europe will follow APEJ in the isopropanol market, in terms of value and volume.

For comprehensive insights on this market adoption, ask an analyst here – https://www.factmr.com/connectus/sample?flag=AE&rep_id=836

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.

Read More Trending and Similar Reports from Fact.MR – https://www.globenewswire.com/en/news-release/2020/03/31/2009290/0/en/Controlled-Release-Fertilizers-Sales-Invigorated-by-Improved-Crop-Efficiency-Polymer-Coated-NPK-Fertilizers-Significant-Contributors-Says-a-New-Fact-MR-Study.html

About Us:

Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.

Contact:

US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583

Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
Email: sales@factmr.com
Visit Our Website: https://www.factmr.com