Global Isopropyl Alcohol Industry is banking on the effective strategies of several top-notch companies like INEOS Enterprises (Germany), The Dow Chemical Company (US), China Petroleum & Chemical Corporation (China), Exxon Mobil Corporation (US), Royal Dutch Shell Plc (Netherlands), Avantor, Inc (US), LG Chem (South Korea), Jiangsu Denoir Technology Co. Ltd (China), Mitsubishi Chemical Corporation(Japan), Tokuyama Corporation (Japan), and Carboclor SA (Argentina). These companies are known for launching innovations, mergers, acquisitions, collaborations, marketing strategies, expansion plans, and others. MRFR’s profiling reveals a trend about market growth in the coming years, which could be leveraged to plan a proper strategic move.
In March 2020, researchers revealed that isopropyl alcohol could be the perfect way to ward off coronavirus. In normal hand sanitizers, isopropyl alcohol is often missing, which would not be much effective against coronavirus. Isopropyl alcohol is important in breaking the lipid shield of the virus and killing it. That is why hand sanitizer makers are now trying to develop products with this as an effective ingredient.
Global Isopropyl Alcohol Market, as read by MRFR analysts, has been segmented into Production Method, Application, and End-Use Industry to facilitate a deeper reading. By digging deep, the regional market would understand the potential of various factors, and participating companies can explore them later to increase their profit margin.
By Production Method, the report containing details of the Global Isopropyl Alcohol Market encompasses indirect hydration and direct hydration. These segments are expected to fetch substantial revenues.
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By Application, the report containing various particulars about the Global Isopropyl Alcohol Market has been segmented into the cleaning agent, solvents, disinfectants, intermediate, and others. The solvents segment would gain easy access to various industries.
By End-Use Industry, the study on the Global End-Use Industry Market included pharmaceuticals, paints & coatings, chemicals, cosmetics & personal care, and others. The pharmaceutical boom would give the market substantial growth opportunities.
The Asia Pacific is the region with the maximum market share and control over the global market. China, India, Thailand, Japan, South Korea, and others are expected to register strong growth opportunities for the market as their internal industrial sectors are rapidly developing. This is happening due to the changing faces of economies and interests shown by various global players. The regional market has a booming automotive sector, which is creating demand for the product. Also, in personal care products, Japan and South Korea are making substantial progress. In the pharmaceutical sector, these countries are showing substantial growth and have also emerged as a lucrative business expansion opportunity for international players.
In North America and Europe, the pharmaceutical sector would use the product to percolate the market in a greater way. Also, in these two regions, there are several countries with substantial personal care product industry and automotive sector. These will help in chalking out a decent growth rate in the coming years.
The study conducted by Market Research Future (MRFR) on the Isopropyl Alcohol Market reveals that the market had a valuation of USD 2 billion in 2018, and it is projected to grow with a 4% CAGR during the forecast period. This study also covers several factors that may play a crucial role in taking the market forward.
The pharmaceutical sector has a huge role as Isopropyl Alcohol’s use in the production of sanitizers is increasing. Other industries like personal care and automotive can impact the production rate as well. In the paint industry, its intake would grow as the sector is getting traction from several quarters like automotive and construction.
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NOTE: Our teams of researchers are studying COVID-19 and its impact on various industry verticals and wherever required we will be considering COVID-19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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