North America Isopropyl Alcohol Market to grow at 5.5% CAGR from 2020 to 2026: Graphical Research North American Isopropyl Alcohol Market size is projected to surpass USD 1.9 billion by 2026, according to a latest forecast report by Graphical Research. Increasing use of cleaners and disinfectants in North America owing to rising concerns regarding COVID-19 pandemic should drive the market. Growth in the demand for chemical intermediate and solvents from chemical and pharmaceutical drug manufacturing companies will fuel the North America Isopropyl Alcohol Market revenue. Isopropyl alcohol is used for cleaning electronic products, eyeglasses, disc lenses, CPUs and IC packages. It is also used in cleaning applications in production of water sensitive items, owing to rapid evaporating characteristics of isopropyl alcohol. Further, it is also used in cleaning medical products as it acts as a sterilizing agent. There has been an increase in the use of alcohol as cleaning agents in commercial and industrial applications has soared owing to growing demand for effective cleaning agents.
Based on product, the disinfectant segment is anticipated to register a growth rate of 7% between 2020 and 2026. The demand for disinfectant has soared during the COVID-19 pandemic, owing to rising number of COVID-19 infections in United States. Isopropyl alcohol is used as disinfectant against bacteria, fungi, and viruses. Owing to rising infection in United States, users are opting for disinfectant and sanitizing sprays and wipes. Such rising demand for disinfectant wipes and sprays from industrial and commercial users has also driven the consumption of isopropyl alcohol for manufacturing disinfectants. Moreover, COVID-19 pandemic has led an expansion of healthcare facilities for treating COVID-19 patients. Expansion in hospitals and medical facilities has drastically boosted the sales of rubbing alcohol and disinfectants. Such rise in the demand for disinfectants will accelerate the North American isopropyl alcohol market growth. Medical segment from the end use category is estimated to observe a growth rate of 6% between 2020 and 2026. Cleaners and disinfectants are sued in hospitals and medical facilities for preventing infection and cleaning purposes. Alcohols such as isopropyl alcohol or ethanol based alcohols are used in healthcare industry as surgical spirit. Further, isopropyl alcohol has also been commonly used as a surface disinfectant in hospitals and medical facilities.
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Hospitals are taking preventive measures for avoiding rise in the number of infections from viruses, bacteria, pollen, and fungi. Such trend has bolstered the demand for surface disinfectants and cleaning agents, propelling the demand for isopropyl alcohol in medical use. North America region has experienced a steady growth in the consumption cosmetic and personal care goods. Increase in the purchasing power and growing consumer spending on cosmetic and personal care has led to an increase in the demand for raw materials required for such products. Such rise has triggered the consumption of alcohol in cosmetic products as sanitizing agent and thinner, which will proliferate the market demand. Isopropyl alcohol usage in medical and healthcare sector as disinfectant and cleaning agent has also augmented owing to rising prevalence of infections from viruses, bacteria, and fungi. Such rise in the use of disinfectants and cleaning agents will stimulate the market growth. Major players in the industry include Dow Chemical, Shell, EcoLab, LG Chem, LyondellBasell Industries, Linde, INEOS, ExxonMobil, Huntsman Corporation, Seton Canada, and Mistral Industrial Chemicals. Browse key industry insights from this 2020 report North America Isopropyl Alcohol Market in detail along with the table of contents at https://bit.ly/3xS1Qrf
Segmentation of North America Isopropyl Alcohol Market:
North America Market, By Application • • • • • •
Solvent Cleaning Agent Chemical Intermediate Flavouring Agent Disinfectant Others
North America Market, By End-use • • • • • • •
Food Pharmaceutical Cosmetic & Personal Care Medical Electronics Automotive Others
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The above information has been provided for the following regions: •
North America • U.S. • Canada • Mexico
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