Rubbing Alcohol Market is anticipated to grow at a CAGR of 4.58% from 2021 to 2027 globally - Axiom MRC
Date: February 2021
The factors such as increased use of rubbing alcohol in antiseptic & astringent products, in cleaning products such as surface disinfectants, and as a solvent in various applications, increased demand for hand sanitizers after COVID-19 outbreak, increasing awareness regarding healthcare and growing technological advancements in the field of isopropyl alcohol and ethanol are likely to contribute to the healthy growth of the market.
The report analyses the global Rubbing Alcohol industry based on application, end use and geography. Several applications of the industry are segmented into antiseptic & astringent, chemical intermediate, cleaning agent, solvent. The major end use of Rubbing Alcohol is in chemical, cosmetics and personal care, food and beverages, paints and coatings, pharmaceutical and other end users. The global Rubbing Alcohol market is studied across various key countries of regions such as, North America, Europe, Asia Pacific and Rest of the World.
The antiseptic & astringent application segment is expected to dominate the Rubbing Alcohol market during the forecast period
The rapid growth in the antiseptic product market is the key driving factor that is accredited to the growth of the market. In addition, factors such as awareness regarding home hygiene and the requirement for disinfection, high occurrence of hospital-acquired infections (HAIs), and growing concern in residential, commercial, and industrial health units or spaces, about the spread of infectious diseases are boosting the market growth.
In 2020, pharmaceutical end user accounted for the major market share
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.
Asia Pacific dominated Rubbing Alcohol market in 2020 and is expected to witness the fastest growth in upcoming years
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.
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.