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.
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On account of its miscibility in non-polar solvents, isopropanol has gained traction as an essential prerequisite for cleaning pores present in electronic components. The compound witnessed robust demand as a popular cleaner in the semiconductor and electronics industries, as it readily dissolves ionic flux residues, light organic contaminants, and dirt particles. Referred to rubbing alcohol, isopropanol is increasingly being used as a sterilizer and disinfectant in home applications.
Isopropanol Market: Isopropanol Consumption in APEJ Remains Vigorous
Isopropanol market continues to remain vigorous in Asia Pacific excluding Japan (APEJ), with the study projecting over US$ 1,600 Mn worth of isopropanol consumption by 2028-end. Majority share of the isopropanol market in APEJ will remain accounted by China, however consumption rate is expected to be relatively higher in India and ASEAN countries through 2028. Preeminence of the pharmaceutical sector on APEJ’s isopropanol market will prevail. Support of the progressive FMCG sector to the market growth in the region will also remain significant.
Europe has prevailed as a dominant marketplace for isopropanol in the recent past. However, accusations on major stakeholders such as AAE, the Belgian chemical group, and relevant supply chain participants, such as Anex Customs, and Danmar Logistics, export of chemicals used in sarin nerve gas production, have posed a negative impact on the region’s chemicals market, as isopropanol is no exception. Nevertheless, promising future of the construction sector, which involves robust consumption of paints and coatings agents, will offset these impacts while driving demand for the compound as an essential prerequisite solvent. According to the study, Europe will follow APEJ in the isopropanol market, in terms of value and volume.
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Application of Isopropanol as Biofuel to Emerge as a Key Trend
An emerging trend being witnessed in the isopropanol market is its surging use as a biofuel. Recent analyses made to devise engineered synthetic pathways for producing isopropanol from microbes have meant that significant potential lies for isopropanol’s utilization as a biofuel for replacing gasoline. Moreover, manufacturing isopropanol using lignocellulosic waste represents a remunerative avenue for economically-feasible production of the compound. With the rise in era of green chemicals, which promotes adoption of bio-based chemicals, biological production methods of isopropanol will be sought-after in the upcoming years, thereby impacting the market growth.
Shifting preference for light-feed petrochemicals in developed markets have led to the shortage in supply of isopropanol, with demand surging without leaps and bounds, which in turn has resulted in significant price hike of the compound. This, coupled with prevailing uncertainties in cost of propylene, has advocated isopropanol manufacturers to employ acetone-based production method. Fundamental benefits associated with the method, such as facilitated production of electronic- and pharma-grade isopropanol, will pave new avenues for the market in the forthcoming years.
Isopropanol Market: Price Fluctuations to Remain a Key Growth Deterrent
Isopropanol witnessed a notable rise in domestic and spot prices in first quarter of 2017, on account of increasing costs of feedstock propylene. Amid broadening demand-supply gap, major isopropanol manufacturers that include LyondellBasell, Monument, Shell, and ExxonMobil independently raised their isopropanol costs, and the trend continued in 2018, with these stakeholders announcing a price hike of 5 cents/lb. Isopropanol industry’s future growth will be significantly affected from these price fluctuations. Additionally, growing crude oil costs driven by the prevailing oil crisis will continue to influence the expansion of the isopropanol market.
A key trend being observed in the isopropanol market is increasing use of the compound as a biofuel. Recent studies conducted to devise engineered synthetic pathways to produce isopropanol from microbes point at the potential of isopropanol’s used as a biofuel to replace gasoline. In addition, isopropanol’s production using lignocellulosic waste has represented a lucrative avenue for economically-viable manufacturing of the compound. The imminent era of green chemicals, which promotes adoption of bio-based chemicals, will significantly complement such biological production methods of isopropanol in the upcoming years.
Table of Content:
Chapter 1 Executive Summary
1.1 Isopropanol Market- Opportunity Assessment
1.2 Mega Trends
Chapter 2 Global Isopropanol Market Overview
2.2 Market Definition
2.3 Scope of the report
Chapter 3 Market Dynamics
3.1 Key Growth Drivers
3.2 Industry Challenges
3.3 Market Trends
3.4 Supply Chain
3.4.1 Trends in the Isopropanol Market Has Many Supply Chain Implications
3.5 Levels of Supply Chain Maturity
3.6 Isopropanol Production Capacity
3.7 Propylene Market Overview
3.7.1 Propylene Demand Growth
3.7.2 Capacity Additions: PDH and CTO Lead the On-Purpose Wave
3.7.3 Key Market Trends
3.8 Investment Feasibility Matrix
3.9 Trade Analysis
3.9.1 Region wise Trade Activity Outlook
3.10 PESTL Analysis
3.11 Porter’s Analysis
3.12 Cost Structure
3.13 Product Lifecycle
3.14 Forecast Factors
3.15 Key Market Participants – Intensity Map Analysis
Chapter 4 Global Isopropanol Market Analysis
4.1 Global Isopropanol Market Outlook
4.1.1 Market Value, Volume Forecast and Analysis
4.1.2 Price Index and Price Point Assessment
4.1.3 Regional Demand Assessment
184.108.40.206 Market Volume Share by Region
4.2 Global Isopropanol Market Analysis by Grade Type
4.2.1 Value, Volume and Forecast by Grade Type
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Isopropanol Market to Witness Elevated Growth during the Assessment Period, 2018-2028
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