Europe Isopropyl Alcohol Market

Europe Isopropyl Alcohol Market Size (2023-2028)

The Europe Isopropyl Alcohol Market is anticipated to be valued at USD 1.35 Billion in the year 2022 and is estimated to reach a market capitalization of USD 2.35 Billion by 2028 growing at an estimated CAGR of 5.75% during the forecast period 2023-2028

Europe Isopropyl Alcohol Market Scenario:

Isopropyl alcohol is an organic compound that is colorless, flammable, and has a pungent alcoholic odor. The molecule is produced by either indirect or direct hydration of propene with water. Isopropyl alcohol has a high vapor pressure and is extremely flammable. Since it is completely miscible in water, this substance can be used as a solvent for a variety of materials, including acrylic and epoxy resins, natural resins, ethyl cellulose, gums, alkaloids, polyvinyl butyral, and other essential oils. Isopropyl alcohol is highly viscous in salt solutions. One typical kind of alcohol is isopropyl alcohol. It can dissolve a huge variety of non-polar compounds. Therefore, due to its multiple applications, the Europe Isopropyl Alcohol Market revenue is expected to grow during the forecast period.

Europe Isopropyl Alcohol Market Drivers:

The growing application areas of Isopropyl alcohol in different industries across the region is expected to give the required boost to the Europe Isopropyl Alcohol Market during the forecast period. IPA is a versatile, flammable substance with a wide range of uses in many different sectors. It has been actively employed as a surface disinfectant, cleaning agent, antiseptic, electronic component, etc. The usage of it in hand sanitizers has led to an increase in the Europe Isopropyl Alcohol Market demand. Due to their low toxicity levels and rapid evaporation rates, they are also widely employed in the pharmaceutical business for producing goods like hand sanitizers, mouthwashes, and ear drops. Over the anticipated period, these elements are fueling the market's expansion.

It is primarily employed as a disinfectant, cleaning agent, and solvent. The substance has uses in the medicinal, automotive, and laboratory industries and functions as a solvent and an intermediate in the synthesis of other chemicals. This substance is harmful in several ways and disrupts the central nervous system's function. Use must be performed in well-ventilated areas with wearing gloves since poisoning can happen if consumed, breathed in, or absorbed. However, it is not as harmful as methyl alcohol, supporting the Europe Isopropyl Alcohol Market growth.

Europe Isopropyl Alcohol Market Restraints:

The Global raw material shortage and the decrease in the shipping business because of the strict government rules across the region is expected to hamper the growth of the Europe Isopropyl Alcohol Market during the forecast period. According to the regulatory regulations established by many governments, producers of alcohol and chemicals must improve their production and processing procedures. The lengthy approval process brought on by these strict regulations would impede market expansion. Additionally, isopropyl alcohol irritates the skin further discouraging the Europe Isopropyl Alcohol Market trends.

Europe Isopropyl Alcohol Market Opportunities:

The growing usage of Isopropyl alcohol in cleaning agents in the region is expected to give the required growth opportunity boost to the Europe Isopropyl Alcohol Market share during the forecast period. Major end users frequently utilize isopropyl alcohol for cleaning operations. They are frequently employed to protect surfaces from the microbiological bacterial population in the construction and construction industries. In addition, the substance is applied in a variety of methods to clean surfaces of oil, filth, and other undesirable material. The growth rate of the market will be further accelerated by the growth of end-use industries, rising urbanization, and rising population supporting the Europe Isopropyl Alcohol Market industry analysis.

COVID-19 Impact on the Europe Isopropyl Alcohol Market:

The Europe Isopropyl Alcohol Market suffered as a result of the most recent COVID-19 epidemic. The market was significantly impacted by supply chain disruption, a shortage of labor, price variations, and the availability of raw materials. However, the total sector is anticipated to increase slowly as restrictions are gradually lifted and company activities are resumed. To accommodate the increased demand for hand sanitizers throughout the world, chemical manufacturing businesses changed the way their factories produced chemicals. The pharmaceutical industry's main and fastest-growing uses for isopropyl alcohol are hand sanitizers. In the post-COVID period, the demand for isopropyl alcohol is being boosted by other pharmaceutical items including antiseptic wipes, cleaning agents, hand sanitizers, oral mouthwash, and others. Additionally, it is predicted that the market will rebound when individual regulatory authorities start to loosen these imposed lockdowns. The operations that have been halted and canceled will resume, and market growth is anticipated.

Europe Isopropyl Alcohol Market Recent Developments:

As part of an ongoing research and development collaboration, carbon transformation firm Twelve and biotechnology business LanzaTech converted CO2 emissions into ethanol. Common methods for producing ethanol include biological methods or petrochemical methods like ethylene hydration that use fossil fuels. Although this method is dependent on crops that could otherwise be grown for food or as waste feedstocks, it is also frequently generated utilizing maize and other agricultural feedstocks.

Market Segmentation:

Europe Isopropyl Alcohol Market-By Application:

• Antiseptic & Astringent

• Cleaning Agent

• Solvent

• Chemical Intermediate

The antiseptic and Astringent segment is expected to have the dominant share in the Europe Isopropyl Alcohol Market during the forecast period. The biggest shares were held by astringent and antiseptic. The product is in high demand as an effective astringent and antiseptic as a result of the current epidemic in 2020. Because of the viral pandemic, people all throughout Europe and globally have started regular use of hand sanitizers, personal care items, and other medicinal formulations to maintain their personal hygiene. This is expected to indicate a strong demand for the formulation of pharmaceutical and personal care products.

Europe Isopropyl Alcohol Market-By End-User Industry:

• Cosmetics and Personal care

• Healthcare

• Food and Beverages

• Paints and coating

• Chemical

Healthcare or the Pharmaceutical segment is expected to have the dominant share in the Europe Isopropyl Alcohol Market during the forecast period. Since isopropyl alcohol contains a lot of ethanol, it has several uses in a wide range of sectors.

Europe Isopropyl Alcohol Market-By Geography:

• Germany

• United Kingdom

• France

• Belgium

• Finland

• Norway

• Denmark

• Sweden

• Rest of Europe

The German Isopropyl Alcohol Market is expected to have the dominant share in the Europe Isopropyl Alcohol Market during the forecast period. European Isopropyl Alcohol Market is expected to rise as a result of the developed automotive industries in key European nations which is the German Isopropyl Alcohol Market and the region's significant presence of major automobile manufacturers. Additionally, rising auto industry investment, rising vehicle output, and expanding auto modification tendencies will increase market demand in Europe.

Additionally, the UK Isopropyl Alcohol Market is also expected to show significant growth during the forecast period due to increasing investments in hygiene products and the presence of several key market players in the region.

Europe Isopropyl Alcohol Market-Key Players:

• Dow Chemical

• ExxonMobil

• Shell

• INEOS

• LG Chem

• Linde plc

• Ecolab

• LyondellBasell Industries

• Alfa Aesar

• MITSUI CHEMICALS EUROPE GmbH

• DUTCH2.