Rubbing alcohol is also referred as isopropanol, is a flammable colorless liquid with a strong odor. It is easily synthesized from the reaction of propylene with sulfuric acid, followed by hydrolysis. The compound is completely missile in water and is used as a solvent for various compounds such as ethyl cellulose, natural resins, acrylic and epoxy resins, polyvinyl butyral, alkaloids gums, and other essential oils. Rubbing alcohol is key ingredient in multiple formulations used in pharmaceutical industry for the production of products such as hand sanitizers, disinfecting pads, mouthwashes and eardrops due to its low toxicity and high evaporation rates. Also rubbing alcohol has major use personal care products as disinfectant agent and also as an antiseptic to clean the skin before injections.
Moreover the increasing per capita disposable income and changing standards of living globally are expected to drive the demand for various cosmetics and personal care products, which in turn is expected to fuel the need for isopropyl alcohol as a solvent in various manufacturing processes.
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RUBBING ALCOHOL MARKET REPORT OUTLOOK
The key factor in the growth of rubbing alcohol market is increasing demand for hand sanitizers and disinfectant due to COVID-19. The increasing use of hand sanitizers and disinfectant formulation to protect the skin from penetration of viruses or microbes had driven the market growth for the rubbing alcohol. The major use of rubbing alcohol in production of sanitizer and disinfectant has propel the growth of the market. Besides increasing demand for cosmetics product with sanitizer’s ingredients is further fueling the growth of market.
The high quality personal care products such as cleansing liquid, sanitizers, and face wash products has dual characteristics as a preservative and sanitizing agent. Industry players are rapidly using alcohol in manufacturing cosmetic products, providing a substantial push to isopropyl alcohol demand worldwide. Rising product usage in cosmetic personal care industry is boosting the growth of rubbing alcohol market as it is used as preservative in preparation such as creams, lotions, serums, shampoos and hair conditions. The increasing acceptance of alcohol based products after COVID-19 has boosted the growth of rubbing alcohol in entire globe.
RUBBING ALCOHOL MARKET SEGMENTAL OVERVIEW
The Rubbing Alcohol market is segmented based on by application, by end use and geography
RUBBING ALCOHOL MARKET BY APPLICATION
The Rubbing Alcohol market finds its application in antiseptic astringent, chemical intermediate, cleaning agent, solvent. Antiseptic Astringent is anticipated to have rapid growth due to increasing demand in global rubbing alcohol market besides holds significant number of share in the market. The increasing use of sanitizer, personal care products and other pharmaceutical formulation to maintain personal hygiene is propelling the growth of segment in the rubbing alcohol market. Antiseptic exhibits exceptional disinfectant properties. Besides cleaning agents is expected to grow at moderate rate owing to rapid adoption and use of high quality cleaning agents in household and at commercial sites. Isopropyl alcohol is highly resistant to spores, viruses, bacteria, fungi, mold, and pathogens, making it compatible with different solutions for cleaning. In addition, growing demand for high-performance cleaning solutions to minimize the spread of viral diseases is expected to further fuel the growth of the rubbing alcohol market.
RUBBING ALCOHOL MARKET BY END USE
The major end use of Rubbing Alcohol is in chemical, cosmetics and personal care, food and beverages, paints and coatings, pharmaceutical. The pharmaceutical hold significant share in the rubbing alcohol market owing to widespread application and use across industries. The growing demand and wide spread use of Rubbing alcohol or isopropyl alcohol as a solvent is playing major role for production of disinfectant, Ointments and other topical products, such as antibacterial creams and corticosteroids. Rubbing alcohol is often use solvents in the beginning of process to manufacture the active ingredients. The solvents is also found in pet shampoos, ointments, oral medications and topical. The demand for the chemical is growing rapidly in pharmaceutical sector which is further fueling the growth of segment in the rubbing alcohol market. Whereas cosmetics and personal care is expected to witness the fastest growth during forecast period owing to increasing use of rubbing alcohol in formulating different skin care products, hair care products, makeup and eye care products. In Pet shampoos the rubbing alcohol as solvents is used to dissolve a drug for topical treatment, or to provide moisture and softeners for our pets’ skin and hair.
RUBBING ALCOHOL MARKET BY GEOGRAPHY
Geographically Rubbing Alcohol have major market in North America, Europe, Asia pacific and Rest of the world (RoW). Asia Pacific is expected to witness the fastest growth in upcoming years owing to hold significant share in terms of volume. The growing demand for rubbing alcohol in region is attributed by various industries like chemical, cosmetics and personal care and pharmaceutical. China followed by Japan and India is projected to be the fastest growing market due to increasing consumers of products in the region. On the other hand North America is expected to be the second largest market for rubbing alcohol and is probable to have moderate growth during the forecast period as the region has growing chemical and pharmaceutical industries in different countries of regions.
RUBBING ALCOHOL MARKET KEY PLAYERS
The key player in global Rubbing Alcohol market are Dow Chemical (United States), Ecolab (United States), ExxonMobil Corporation (United States),INEOS Corporation(United Kingdom), Linde Gas(Ireland), LyondellBasell Industries (United States), Mistral Industrial Chemicals (Northern Ireland), Royal Dutch Shell (Netherlands) and Honeywell International Inc.(United States) among others.
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