GCC Isopropyl Alcohol Market Analysis, 2020
The GCC Isopropyl Alcohol market is steadily augmenting due to its utilization in various industries such as cosmetic and personal care, pharmaceutical, automotive, paints, and coatings, etc. Isopropyl alcohol is widely used as a solvent in the manufacturing of bath, skincare, haircare, makeup products, etc. Growing usage of these products due to changing lifestyles and increasing promotional activities through YouTube and social media is enhancing the demand for cosmetic and personal care products, consequently, surging the GCC Isopropyl Alcohol market.
GCC Isopropyl Alcohol Market Outlook, By Revenues, By Quantity Sold, 2015-25
According to MarkNtel Advisors’ research report titled “GCC Isopropyl Alcohol Market Analysis, 2020”, the Isopropyl Alcohol market is anticipated to grow at a CAGR of around 5% during 2020-25. Isopropyl alcohol is also used in the food and beverage industry in the extraction and cleaning of vegetables, animal oil, and fats, etc. Growing food and beverage demand in UAE and Saudi Arabia on an account of increasing tourism can help in the market growth for the Isopropyl Alcohol market through 2025.
Chemical Industry Dominates the Isopropyl Alcohol Market
Its major application lies is with the chemicals industry, as it produces solvents, pigments, alcohol inks, and other intermediates. 70% concentrate and 90% concentrate are two of its major forms which are widely used across all major sectors. The majority of its application is largely with respect to pharmaceutical industries, hospitals, and other healthcare units for handwashing purposes and to clean surgical devices and equipment. The growing number of hospitals across GCC is expected to add to the overall demand for 70% IPA.
Saudi Arabia is expected to Attain Lucrative Growth during 2020-25
Based on the geographical segmentation, Saudi Arabia is anticipated to attain the highest CAGR during 2020-25, owing to its large-scale oil and gas sector and extensive usage of isopropyl application in the production of chemical compounds such as isopropyl acetate, esters, and amines, methyl isobutyl ketone, acetone, glycerol, etc. According to MarkNtel Advisors’, some the of key competitors operating in the Isopropyl Alcohol market include Exxon Mobil, Royal Dutch Shell, Dow, Dubi Chem Marine, Fujairah Chemicals, Green Cross, Patcham, etc.
Key Questions Answered in the Market Research Report
Market Outlook, Segmentation, and Statistics
Frequently Asked Questions
Q. What would be the growth rate or CAGR of GCC Isopropyl Alcohol Market during 2020-25?
A. The market size of GCC Isopropyl Alcohol Market during 2020-25 is forecast to be around 5%.
Q. Which region would grab the highest market share during 2020-25?
A. It is forecast that the Saudi Arabia region will dominate the market with the majority market share, with market size registering considerably higher CAGR.
Q. Which end-user segment of Isopropyl Alcohol would grab the highest market share during 2020-25?
A. Based on the end-user type, the chemical segment is anticipated to lead the GCC Isopropyl Alcohol Market.
Q. Who are the key competitors or players operating in GCC Isopropyl Alcohol Market?
A. Exxon Mobil, Royal Dutch Shell, Dow, Dubi Chem Marine, Fujairah Chemicals, Green Cross, Patcham, etc. are a few of the leading players in the GCC Isopropyl Alcohol Market?