From consumer to industrial purposes, isopropanol seeks extensive consumption across a wide range of applications, including personal care & cosmetic products, household products, and industrial sectors such as medical, chemical, and electronics. While being popular as a solvent for use in various industrial processes, isopropanol’s use as a cleaning agent has led the compound to become an imperative ingredient in the semiconductor and electronics industry. However, as the isopropanol market matures, industry stakeholders continue to witness constraints in product and technology innovation alike.
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While some industries are facing a turmoil of supply-demand gap, leading companies are shifting their focus toward employing alternative production methods and expansion of their manufacturing facilities. A recent Fact.MR study projects a volume CAGR of 2.1% for the highly mature isopropanol market in the period of forecast (2018-2028). Over US$ 4,800 Mn worth of isopropanol will be consumed globally by 2028-end. Fluctuation price trend of propylene and crude oil is a key growth deterrent for the isopropanol market in the upcoming years.