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India Isopropyl Alcohol Market to Grow at a CAGR of 5.33% by FY2030 | ChemAnalyst
The Indian India Isopropyl Alcohol (IPA) Market is likely to reach approximately 360 thousand tonnes by FY2030, at a steady CAGR of 6.05% during the forecasted period.
Isopropyl Alcohol (IPA) or isopropanol is a colourless liquid with chemical formula C3H8O. IPA is soluble in many chemicals such as ethyl cellulose, ethanol, chloroform, oils, alkaloids, natural resins, and ether. Being extremely safe and highly evaporative, Isopropyl Alcohol is widely used for sterilization purposes in the medical sector. Using topical isopropyl alcohol on the skin can help stop bacterial skin infections from small scrapes or cuts. In healthcare settings, isopropyl alcohol is used to stop infections that could result from needle punctures. Isopropyl alcohol has many uses, one of which is as a solvent. Herbicide and pesticide formulation, ink production, surface coatings, and resins production are a few of its direct applications. Because of its low boiling point, and low density, IPA is also used to dilute essential oils.
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IPA has applications in the pharmaceutical, automotive, and laboratory industries and is used as a solvent as well as an intermediate in the synthesis of other chemicals. However, pharmaceutical industry is the largest application of IPA. One of the main uses of the chemical is the production of antiseptics because it has great antibacterial capabilities. Moreover, due to its high evaporation rate and solubility, IPA is extensively employed for the production of paints & coatings. strong expansion in the construction sector, rising investments in the chemical industry, rising demand for cosmetics and personal care goods, and expanding pharmaceutical items in the nation are the main factors propelling the isopropanol market.
Major players in the Isopropyl Alcohol (IPA) market in India are Deepak Fertilizers and Petrochemicals Corporation Ltd. and Deepak Phenolics Ltd. A few global players are also catering the IPA demand which are LCY Chemical Corporation, LG Chem, Tricon Energy Ltd, and Others.
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