The Isopropanol Market Assessment is projected to grow at a CAGR of 2.5% over the forecast period 2022-2032 . According to the latest study by Fact.MR – a provider of market research and competitive intelligence, global consumption of isopropanol will account for approximately 1% of global organic chemical consumption by the end of 2032.
Analysts at Fact.MR utilize extensive primary and comprehensive secondary research to determine the sales and demand, market share, production footprint, current launches, contracts, ongoing R&D projects and market strategies of Isopropanol.
The latest market research report analyzes the isopropanol market demand by different segments. Provides business leaders with insight into Isopropanol and ways to increase their market share.
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Isopropanol Market Key Segments
- By Grade Type
- Technical Grade
- Direct Solvent Grade
- Chemical Derivatives Grade
- Pharmaceutical Grade
- Cosmetic Grade
- Electronic Grade
- Technical Grade
- By Manufacturing Process
- Indirect Hydration of Propylene
- Direct Hydration of Propylene
- Catalytic Hydrogenation of Acetone
- By Application
- Cosmetic & Personal Care
- Chemical Intermediates
- By Primary Function
- Dissolving Agent
- Cleaning & Drying Agent
- Anti – freezing Agent
- Synthetic Flavoring Adjuvant
Isopropanol market competitive landscape shows top manufacturers including Dow Chemical Company, Exxon Mobil Corporation, Shell Chemicals, Mitsui Chemicals, Inc, Tokuyama Corporation, LG Chem Ltd., Perrigo Company plc, Sasol Limited and LyondellBasell Industries N.V
IPA shortages are witnessed in the semiconductor industry, to fill the supply demand gap, manufacturers are focusing on the construction of new isopropanol production plants. Additionally, isopropanol manufacturers pushing for long terms supply contracts, since, they understand the likelihood of price correction during next two years
Furthermore, the manufacturers rely on access to international markets or are planning to increase investments on offshore operations might find themselves on the receiving end. Pressure has continued to build on review and modernization of NAFTA (North America Free Trade Agreement) to boost job creation and economic growth in the region.
Why Isopropanol as a Biofuel have Futuristic Market Potential?
Isopropanol can be produced from microbes such as clostridium strain of bacteria. Studies have been carried out to device engineered synthetic pathway for isopropanol production from microbes that can be used as a biofuel to partially replace gasoline. This isopropanol can also be used in place of methanol to esterify fat and oil to produce biodiesel.
In addition, production of isopropanol using lignocellulosic waste has shown promising result for economically feasible production of isopropanol. Such biological methods are estimated to gain traction in the upcoming era of green chemicals that promote the use of bio-based chemicals. In conclusion, bio-based methods of isopropanol production present future opportunities for the isopropanol market.