The main use for isopropanol (IPA) is in solvents with outlets in cosmetics and personal care products, de-icers, paints and resins, pharmaceuticals, food, inks and adhesives. A pharmaceutical grade of IPA allows its use in the preparation of a number of pharmaceutical products, such as medicinal tablets as well as disinfectants, sterilizers, and skin creams. IPA is considered a mature product. The strongest end-user markets for IPA are isopropylamines, household, cosmetic and personal care products, and pharmaceuticals with past growth at about 2.8% per year.
Isopropanol is used in the extraction and purification of natural products such as vegetable and animal oil and fats. Other applications include its use as a cleaning and drying agent in the manufacture of electronic parts and metals and as an aerosol solvent in medical and veterinary products. It can also be used as a coolant in beer manufacture, a coupling agent, a polymerisation modifier, a de-icing agent, and a preservative.
In the recent years, the Asia Pacific region has showed high growth rates and became the leaders in IPA consumption. Moreover, the demand of isopropanol in Asia Pacific is growing with the rates surpassing the figures of North America and Europe. The Asia-Pacific isopropanol market has been valued at $1.03billion in the year 2013, and is expected to grow at 8.3% annually. The Asia-Pacific isopropanol market is projected to reach $1.5billion by the end of the year 2018. The Asia-Pacific Isopropanol market constitutes 36.4% of the global Isopropanol market, and its market share is poised to reach 8.8% by the end of 2018.
Browse through the market data tables, figures and detailed ToC on the “Asia-Pacific Isopropanol Market.”
North America Isopropanol Market:
The North American isopropanol market has been valued at $0.87billion in the year 2013, and is expected to grow at 5.3% annually. The North American isopropanol market is projected to reach $1.1billion by the end of the year 2018. The North American Isopropanol market constituted 30.5% of the global Isopropanol market, and its market share is poised to decline to 28.4% by the end of 2018. The North American isopropanol report segments the market into major applications including oxygenated solvents, chemical manufacturing, and pharmaceutical manufacturing.
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