Press Release

GCC Isopropyl Alcohol Market size is estimated to grow at a CAGR of around 5.2% By 2030

The GCC Isopropyl Alcohol Market size is estimated to grow at a CAGR of around 5.2% during the forecast period, i.e., 2024-30., cites MarkNtel Advisors in the recent research report. With its dual usage as both a disinfectant and chemical intermediate, the demand for isopropyl alcohol has been increasing throughout the GCC region. A large part of IPA is used in industrial solvents for several end-user industries which surges its adoption in the region. As a result, the market for IPA-based industrial applications is growing at a rapid pace in countries such as Saudi Arabia and UAE, as they host a large number of chemical and other industries.

The cosmetic and personal care industries are also creating immense demand for IPA. The change in consumer behavior, developing knowledge about wellness, and preferences toward better lifestyles, are all creating awareness among the mass population in this region. Demand for skincare, hair care, and beauty products from this market has been increasing greatly due to enhanced concern for personal grooming and hygiene among consumers in the GCC. Further, the UAE and Saudi Arabia have large cosmetic and makeup markets owing to the large expatriate populations which is further boosting cosmetic manufacturing in the region. Further demand for cosmetics and personal care products has been enhanced by the increasing popularity of e-commerce and online stores. Due to a young and technologically advanced population, online shopping for beauty and personal has been growing in the region. This has pushed global and local companies in the personal care sector to boost their manufacturing capacities amid growing demand. This rising production of cosmetic and beauty care products is boosting the demand for IPA. IPA acts as a vital raw material in the manufacturing of creams, lotions, and perfumes, thereby surging its demand and driving market growth.

Furthermore, the expansion in the oil and gas industry within the GCC has also been fueling the rise in demand for IPA use in various operations. The GCC is one of the leading oil and gas producers in the world and continues to be a source of current investments in projects aimed at upgrading and revamping its infrastructure for oil and gas, such as new refinery projects, petrochemical plants, enhanced oil recovery projects, etc. IPA works as a good cleaning agent in maintenance operations, such as pipeline cleaning, equipment cleaning, and cleaning of storage tanks in the essential oil and gas industry. In addition, this product can clean contaminants and residues, which further accelerates the market growth. Hence, with the establishment and expansion of new oil and gas plants, the demand for IPA is rapidly accelerating, impelling the growth of the GCC isopropyl alcohol market, further states the research report, “GCC Isopropyl Alcohol Market Analysis, 2024.”

GCC Isopropyl Alcohol Market Segmentation Analysis

90% IPA Segment to Hold Significant Market Share in the GCC Isopropyl Alcohol Market

Based on type, the market is further segregated into 70% IPA and 90% IPA. The above 90% IPA segment accounted for the largest share in the global isopropyl alcohol market, which can be attributed to the growing demand for high-purity IPA in various industrial applications. This concentration is the most prevalent in the industrial and commercial sectors since it displays higher purity and better cleaning characteristics. With a purity of 90% IPA, various critical industrial applications in many industries like automobile production, and electronic manufacturing, it is used as a basic solvent, disinfectant, and cleaning sensitive equipment and components. Moreover, above 90% IPA evaporates faster, removing contaminants more effectively, and hence being a choice of many industries.

Other than this, the above 90% IPA grade meets some stringent regulatory requirements and industry standards that demand higher purity levels. For instance, high-purity IPA is utilized in the pharmaceutical and healthcare sectors in adhering to GMP and ensuring the safety and effectiveness of products. The demand for the 90% IPA grade is further enhanced by the fact that it has versatility in use across a broad spectrum of industries, ranging from cleaning and sanitization to acting as a solvent. This wide usage across industries further encourages its adoption and is therefore fueling its growth in the GCC isopropyl alcohol market.

Saudi Arabia to Hold Major Market Share in the GCC Isopropyl Alcohol Market

Geographically, the market is segmented into regions such as The UAE, Saudi Arabia, Qatar, Oman, Bahrain, and Kuwait. Saudi Arabia commanded an outstanding share of the total market owing to the well-established chemical manufacturing industry present in the region. The country has heavily invested in the chemical and petrochemical sectors as part of its Vision 2030, decreasing dependence on oil, and raising its demand for IPA. This demand is further supplemented by major petrochemical complexes situated in cities such as Jubail, and Sharjah, as they use huge amounts of IPA for cleaning and maintenance purposes and as a solvent in their production processes. Moreover, the huge oil and gas industry of Saudi Arabia further enhances the demand for IPA.

In oil extraction processes, IPA is used for cleaning as well as a solvent, which creates a steady demand in the oil and gas sector. In addition, government efforts in attracting global chemical manufacturers further raise the level of local production leading to more consumption of IPA in Saudi Arabia. Also, the country has been developing new chemical parks and expanding industrial activities, further establishing its leading position in the GCC Isopropyl Alcohol Market.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including ExxonMobil Corporation, Shell UAE, Dow Chemical IMEA GmbH UAE, Dubichem Marine International EST, Fujairah Chemical, Ibn Al Haj Chemicals LLC, Green Cross Incorporated, Sharjah Chemical, Hach MENA, Trice Chemicals, among others, are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the region?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping across various countries?
6. How have the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?