According to a new report, published by KBV research, The Global Isopropyl Alcohol Market size is expected to reach $4.4 billion by 2030, rising at a market growth of 7.7% CAGR during the forecast period. In the year 2022, the market attained a volume of 2,052.31 kilo tonnes, experiencing a growth of 6.9% (2019-2022).
The Antiseptic & Astringent segment is leading the Global Isopropyl Alcohol Market by Application in 2022; thereby, achieving a market value of $1.5 billion by 2030. Isopropyl alcohol possesses strong antimicrobial properties, effectively killing many bacteria, viruses, and fungi. In antiseptic formulations, IPA acts as a disinfectant agent, helping to cleanse and sterilize wounds, cuts, and abrasions, thereby reducing the risk of infection. IPA also exhibits astringent properties, which help to constrict and tighten skin tissues. This makes it useful in cosmetic and skincare formulations designed to minimize pores, reduce oiliness, and improve skin tone.
The chemical segment would showcase a CAGR of 7.6% during (2023 - 2030). IPA is used as a raw material and reactant in chemical synthesis reactions to produce a variety of chemical compounds and specialty products. It undergoes esterification, etherification, oxidation, and condensation reactions to yield intermediates, derivatives, and final products used in diverse applications. Furthermore, IPA remains a fundamental component of chemical formulations, processes, and products for modern manufacturing and industrial operations.
Full Report: https://www.kbvresearch.com/isopropyl-alcohol-market/
The Asia Pacific region dominated the Global Isopropyl Alcohol Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1.9 billion by 2030. The North America region is experiencing a CAGR of 7.1% during (2023 - 2030). Additionally, The Europe region would exhibit a CAGR of 7.5% during (2023 - 2030).
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By End Use (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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