The Europe isopropyl alcohol (IPA) market exhibits dynamic trends and promising prospects, driven by its pivotal role in pharmaceutical processes and healthcare. IPA ensures quality and hygiene standards in drug production and medical device sterilization, contributing to the region's pharmaceutical advancements. Additionally, the versatile applications of isopropyl alcohol have sparked heightened demand in healthcare and sanitization sectors. Its effectiveness in disinfection and germ-killing has made it a crucial component in hand sanitizers, particularly during the COVID-19 pandemic. This increased emphasis on hygiene reinforces isopropyl alcohol's essential role in healthcare and sanitization products.
Data Bridge Market Research analyses that the Europe Isopropyl Alcohol Market was USD 1.53 billion by 2022, growing at a CAGR of 4.96% from 2023 to 2030.
"High usage for cleaning purposes drives the market growth"
The isopropyl alcohol market is witnessing substantial growth, driven by its extensive use for cleaning purposes. Also known as rubbing alcohol, it serves as a disinfectant, antiseptic, and cleaning agent across diverse industries and households. The heightened focus on hygiene, particularly during the COVID-19 pandemic, has led to a surge in demand for isopropyl alcohol. Its efficacy in eliminating germs, bacteria, and viruses has spurred widespread adoption, contributing significantly to the market's expansion and ongoing growth.
What restraints the growth of the Europe isopropyl alcohol market?
"Stringent approval process hamper the market growth"
The growth of the isopropyl alcohol market is hampered by the stringent approval process mandated for specific applications. As a consequence of its flammable nature and associated health risks, isopropyl alcohol faces rigorous regulations and safety standards from authorities. Securing necessary approvals and ensuring compliance with safety protocols is time-consuming and costly, causing delays in product launch and market entry. These regulatory challenges are significant restraints on the market, impeding its growth and expansion.
Segmentation: Europe Isopropyl Alcohol Market
The Europe isopropyl alcohol market is segmented on the basis of production method, raw material, grade, type, and application.
- On the basis of production method, the Europe isopropyl alcohol market is segmented into indirect hydration and direct hydration
- On the basis of raw material, the Europe isopropyl alcohol market is segmented into acetone, propylene, and others
- On the basis of grade, the Europe isopropyl alcohol market is segmented into industrial grade isopropyl alcohol (IPA), USP grade isopropyl alcohol (IPA), USP kosher isopropyl alcohol (IPA), and pharmaceutical isopropyl alcohol (IPA)
- On the basis of type, the Europe isopropyl alcohol market is segmented into isopropanol 99.8%, isopropanol 99% USP, isopropanol 70% isopropanol 70% USP, and others
- On the basis of application, the Europe isopropyl alcohol market is segmented into chemical manufacturing, household and industrial cleaning, pharmaceuticals, personal care, transportation, and others
Regional Insights: Germany is expected to dominate the Europe Isopropyl Alcohol Market
Germany is expected to dominate the Europe isopropyl alcohol market, driven by sustained demand and a conducive environment for innovative product development. The country's robust industrial base and focus on research and development create a favorable landscape for advancements in isopropyl alcohol applications. With a reputation for technological innovation and high-quality standards, Germany is poised to lead the Europe market, emphasizing its central role in shaping the region's isopropyl alcohol industry and market dynamics.
The U.K. is expected to dominate the Europe isopropyl alcohol market, emerging as the fastest-growing country. This prominence is attributed to the growing demand from the pharmaceutical industry. As the pharmaceutical sector expands, the need for isopropyl alcohol as a crucial solvent and disinfectant in pharmaceutical processes intensifies. The U.K.'s accelerated growth in isopropyl alcohol usage underscores its pivotal role in supporting the pharmaceutical industry and contributing to the overall dynamism of the Europe market.
Recent Developments: Europe Isopropyl Alcohol Market
- In 2021, BASF SE launched a line of catalysts for more efficient isopropyl alcohol production. The catalyst, Ni 3354, facilitates high-performance and high-quality Oxo alcohol development through the hydrogenation of acetone. This newly developed isopropyl alcohol serves as a significant ingredient in hand sanitizers
To know more about the study, visit https://www.databridgemarketresearch.com/reports/europe-isopropyl-alcohol-market
The Prominent Key Players Operating In The Europe Isopropyl Alcohol Market Include:
- L.G. Chem. (South Korea)
- Shell plc (U.K.)
- Dow (U.S.)
- Alfa Aesar, Thermo Fisher Scientific (U.S.)
- INEOS (U.K.)
- MITSUI CHEMICALS EUROPE GmbH (Germany)
- ExxonMobil (U.S.)
- LyondellBasell Industries Holdings B.V. (Netherlands)
- DUTCH2 (Netherlands)
- Lucemill (U.K.)
- Recochem Corporation (Canada)
- Absolute Solvents Ltd (U.K.)
- ISU CHEMICAL (South Korea)
- Linde plc (Ireland)
- Brenntag SE (Germany)
Above are the key players covered in the report, to know about more and exhaustive list of Europe isopropyl alcohol market companies, contact: https://www.databridgemarketresearch.com/contact
Research Methodology: Europe Isopropyl Alcohol Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
