Reports and Data’s latest research study on the Isopropyl Alcohol (IPA) market gives a thorough analysis of it. In this report, the global Isopropyl Alcohol (IPA) market is analyzed historically and currently to assess its potential future development. In order to identify opportunistic business opportunities for stakeholders, the study provides detailed information on the key growth factors, restraints, and key trends that are paving the way for future growth in the Isopropyl Alcohol (IPA) market.
The Isopropyl Alcohol (IPA) market reached a size of USD 4.37 billion in 2022 and is anticipated to achieve a substantial revenue compound annual growth rate (CAGR) of 5.8% during the forecast period. Key drivers behind the growth in market revenue include the increasing demand from various end-use sectors such as pharmaceuticals, personal care, and chemicals. Additionally, the rising utilization of IPA as a cleaning agent, owing to its potent disinfection qualities, contributes significantly to market expansion.
Isopropyl Alcohol, commonly known as Isopropanol or rubbing alcohol, is a colorless chemical substance widely used as a solvent and cleaning agent in various industries. Its effectiveness in eliminating grease, oil, and dirt from surfaces has led to its common inclusion in disinfection and hand sanitizer formulations. The versatility of Isopropyl Alcohol makes it a crucial component in several sectors, contributing to its high demand and overall market growth.
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Various businesses within the chemicals and materials industries vary in size, geographic presence, business approaches, and end-market orientations. These enterprises form part of a broader ecosystem that includes raw materials such as oil, gas, coal, minerals, and bio-based products, on one end, and a diverse array of application industries on the other. The traditional classification of the chemical industry often involves three main categories: petrochemicals, diversified manufacturers, and specialized industries.
While overarching trends discussed in previous sections are applicable to the entire sector, the intricacies of differences among the various players underscore the importance of analyzing trends by industry segment. In its multiverse series, Deloitte has categorized stakeholders in the chemical sector into three groups: natural owners, distinctive commodities, and solution providers. Each of these groups typically has its strategic imperatives. Vertically integrated natural owners commonly prioritize continuous improvement over innovation in their business operations. Differentiated commodities thrive in a highly fragmented and complex industry by concentrating on supply chain efficiency, market innovation, and cost optimization. Solution providers, on the other hand, focus on maximizing the value of their unique products, along with their application expertise and services.
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- On 2 November 2020, LG Chem Ltd. announced that it would invest USD 500 million in its EV Battery manufacturing facility in Indonesia. This strategic move aimed at expanding its market presence in the region, which is expected to rise demand for IPA in the future.
- On 2 October 2020, LyondellBasell Industries N.V. announced the acquisition of Sasol’s 50% stake in its Louisiana-based Integrated Polyethylene Joint Venture. This strategic move aimed at enhancing LyondellBasell’s global market position in the Specialty Chemical industry, including Isopropyl Alcohol.
- Royal Dutch Shell plc
- ExxonMobil Chemical Company Inc.
- Dow Chemical Company
- LyondellBasell Industries N.V.
- Mitsui Chemicals Inc.
- LG Chem Ltd.
- LCY Chemical Corp.
- Deepak Fertilisers and Petrochemicals Corp. Ltd.
- Mitsubishi Chemical Corporation
- INEOS Group AG
Segments Covered in the Report:
|By Product Type Outlook
|By End-use Outlook
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Key Questions Answered in This report on the Isopropyl Alcohol (IPA) Market
The report provides detailed information about the Isopropyl Alcohol (IPA) market on the basis of comprehensive research on various factors that play a key role in accelerating the growth potential of the market. The information mentioned in the report answers path-breaking questions for companies that are currently functioning in the market and are looking for innovative ways to create a unique benchmark in the Isopropyl Alcohol (IPA) market, so as to help them formulate successful strategies and take target-driven decisions.
- How are key market players successfully earning revenue from the advantages of the product?
- What will be the Y-o-Y growth of the Isopropyl Alcohol (IPA) market between 2024 and 2032?
- What are the winning imperatives of market frontrunners in the Isopropyl Alcohol (IPA) market?
- Which end-user is expected to undertake maximum adoption of the product during the forecast period?
Research Methodology: Isopropyl Alcohol (IPA) Market
The research methodology adopted by analysts to compile the Isopropyl Alcohol (IPA) market report is based on detailed primary as well as secondary research. With the help of in-depth insights of industry-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the Isopropyl Alcohol (IPA) market.
During the primary research phase, analysts interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. On the basis of data obtained through interviews with genuine resources, analysts have emphasized the changing scenario of the Isopropyl Alcohol (IPA) market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, import and export data of major countries around the world, industrial production index, industry association publications, and company websites to obtain the necessary understanding of the Isopropyl Alcohol (IPA) market.
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