GCC Isopropyl Alcohol Market Overview: 2024-2030
Base Year: 2023
Historical Years: 2019-22
Forecast Years: 2024-30
The GCC Isopropyl Alcohol Market is estimated to grow at a CAGR of around 5.2% during the forecast period 2024-2030. The growing use of IPA as a disinfectant and chemical intermediate fuels its demand in the region. IPA finds broad application as an industrial solvent in several end-user industries. Since the industrial sector is growing at a tremendous pace in countries such as Saudi Arabia and the UAE, demand for IPA has consequently risen.
Markntel Advisor’s GCC Isopropyl Alcohol Market Insights report provides the current and forecast market analysis, individual leading companies’ market shares, challenges, GCC Isopropyl Alcohol Market drivers, barriers, GCC Isopropyl Alcohol Market Trends, and Key Players in GCC Isopropyl Alcohol Market.
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GCC Isopropyl Alcohol Market Dynamics: 2024-2030
GCC Isopropyl Alcohol Market Driver:
Escalating Demand for Isopropyl Alcohol from Pharmaceutical Manufacturing in the Region– The pharmaceutical sector in the region has been experiencing significant growth owing to rising demand for medicines for the elderly and other consumers in the region. The GCC countries have a large number of diseases prevalent in their population, which demand pharmaceutical products. Additionally, individual government efforts to boost medicine manufacturing in their countries are leading to an increase in pharmaceutical manufacturing. Programs like Vision 2030 and Pharma Vision by countries are leading to the establishment of various pharmaceutical giants in the GCC. Companies are establishing new units as well as expanding existing ones to boost their pharma manufacturing. For Instance,
In 2023, the Himalaya Wellness Company LLC formally opened its pharmaceutical factory in Dubai. It is intended to create dosage forms for the medication, tablets, capsules, liquid orals, ointments, etc.
IPA finds huge application in different stages of pharmaceutical production, either as a solvent in the synthesis of active pharmaceutical ingredients, in the formulation of products, or for cleaning and sanitization of manufacturing equipment. Growing pharmaceutical manufacturing thus acts as a driver for the demand and adoption of IPA significantly. This would increase the demand for IPA in the region, thereby driving the growth of the GCC Isopropyl Alcohol Market.
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GCC Isopropyl Alcohol Market (2024-30): Segmentation Outlook
The market report has segmented the market into the following categories:
- By Type
- 70% IPA- Market Size & Forecast 2019-2030, Thousand Tons
- 90% Above IPA- Market Size & Forecast 2019-2030, Thousand Tons
- By Application
- Process Solvent- Market Size & Forecast 2019-2030, Thousand Tons
- Cleaning Agent- Market Size & Forecast 2019-2030, Thousand Tons
- Coating Solvent- Market Size & Forecast 2019-2030, Thousand Tons
- Others (Chemical Intermediate, Disinfectants, etc.) – Market Size & Forecast 2019-2030, Thousand Tons
- By End Users
- Cosmetics and Personal Care- Market Size & Forecast 2019-2030, Thousand Tons
- Healthcare- Market Size & Forecast 2019-2030, Thousand Tons
- Food & Beverages- Market Size & Forecast 2019-2030, Thousand Tons
- Paints & Coatings- Market Size & Forecast 2019-2030, Thousand Tons
- Chemicals- Market Size & Forecast 2019-2030, Thousand Tons
- Others (Automotive, Household, etc.) – Market Size & Forecast 2019-2030, Thousand Tons
- By Country
- The UAE
- Saudi Arabia
- Bahrain
- Oman
- Qatar
- Kuwait
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Top Companies Operating in the GCC Isopropyl Alcohol Market:
- ExxonMobil Corporation
- Shell UAE
- Dow Chemical IMEA GmbH
- Dubichem Marine International
- Fujairah Chemical
- Ibn Al Haj Chemicals LLC
- Green Cross Incorporated
- Sharjah Chemical
- Hach MENA
- Trice Chemicals
- Others
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