According to the latest report by IMARC Group, titled “North America Isopropyl Alcohol Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the Indian fertilizer market in North America reached a volume of 871,861 Tons in 2019. Isopropyl alcohol, with the molecular formula (C3H8O), was the first commercial synthetic alcohol. It is characterized as being colorless and volatile with the odor similar to that of rubbing alcohol. In the United States, it is manufactured by an indirect hydration technique in which a fraction containing 40-60% propylene, isolated from refinery exhaust gases, is reacted with sulfuric acid.
Some of the key players being E I Du Pont De Nemours And Co Preferred Shares Ser. 4.50 NYSE: (CTA-B), Exxon Mobil Corporation NYSE: XOM, Shell Chemicals Europe B.V. NYSE: (BV), INEOS Enterprises Ltd. NYSE: (INEOSSTYRO.NS), Super Chemical Technology Co. Ltd.
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Over the years, there has been an increasing demand for isopropyl alcohol in the North American region as it is used in several consumer goods, including skin and hair products, soaps, perfumes, lacquer formulations, and dye solutions. Apart from this, it also finds numerous industrial applications, which is contributing to the market growth. For instance, it is extensively utilized in adhesives and sealants, non-pesticidal agricultural chemicals, fuels and fuel additives, lubricants, paints and coatings, and cleaning solvents for cleaning or degreasing. Also, there is rising awareness regarding the antibacterial and antiseptic benefits of isopropyl alcohol, which in turn is providing a boost to its utilization in hand sanitizers. Looking forward, IMARC Group expects the market to reach a volume of more than 1.0 Million Tons by 2025, registering a CAGR of 2.7% during 2020-2025.
Market by End-Use Industry:
- Cosmetics and Personal Care
- Pharmaceuticals
- Food and Beverages
- Paints and Coatings
- Chemicals
- Others
- Process Solvent
- Cleaning Agent
- Coating Solvent
- Intermediate
- Others