Rubbing alcohol exhibits excellent solvency characteristics and is therefore recognized as one of the key solvents across end-use industries. China is currently the largest isopropyl alcohol producer in the Asia Pacific. A surge in the adoption rate of rubbing alcohol as a solvent in applications such as cosmetics, personal care, pharmaceuticals, adhesives, inks and coatings, foods, and cleaning agents for electronic devices is major factor that accredited to the growth of the market in the country. Likewise, factors such as increasing production capacity of the isopropyl alcohol and ethanol, the ever-increasing population of the country, and increased introduction of various disinfectant products such as hand sanitizer, floor cleaning products, medical or healthcare equipment cleaning products is again likely to flourish the growth of rubbing alcohol market across the country.
Asia Pacific is the fastest-growing region in the rubbing alcohol market. The economies such as China, India, and Japan have dominated the market in 2020. The entry of major food & beverage manufacturers and an ever-increasing demand for personal and care disinfectant products are major impelling factors behind the growth of the APAC rubbing alcohol Market. Likewise, major factors such as rising awareness about several preventative measures against COVID-19, rapid growth in the pharmaceutical, automotive, and consumer electronics industry, increasing habits of cleanliness and personal hygiene among people, and rapid production of products such as disinfecting liquids, cleaning wipes, and sprays by various domestic manufacturers are expected to improve the growth of the market across the APAC region.
The effect of the COVID-19 pandemic on the hand sanitizer market has contributed to a huge increase in the sales of hand sanitizer products in APAC. Thus increased demand for hand sanitizers, entry of the new entities into the market, and rising expansion in the production of hand sanitizers by the established companies are supporting the growth of the rubbing alcohol market in the APAC.
The exclusive COVID 19 impact analysis report by Axiom MRC provides a 3600 analysis of micro and macro-economic factors on rubbing alcohol market. In addition, complete analysis of changes on rubbing alcohol expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on APAC economies, international trade, business investments, GDP and marketing strategies of key players present in the market.
The Rubbing Alcohol market is segmented based on by application, by end use and country
The applications of rubbing alcohol market are antiseptic & astringent, chemical intermediate, cleaning agent, solvent and others. 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, skin and personal care, rising need to keep home, offices and other indoors fresh and clean concerning sanitation, and growing technological advancements in the field of Rubbing alcohol and ethanol are likely to contribute to the healthy growth of the market.
The end users of the APAC rubbing alcohol market is segmented into chemical, cosmetics and personal care, food and beverages, paints and coatings, pharmaceutical and others. Factors such as the rapid growth in the pharmaceutical market, growing old age population, thus need for more medicine, rising government support to fulfil the demand for consumers across the country, and rising significance of rubbing alcohol in healthcare and cosmetics applications are likely to contribute to the healthy growth of the market in the APAC.
The key countries included under Asia-Pacific are China, India, Japan and Rest of Asia-Pacific. China followed by India and Japan is anticipated to be the largest producer and consumer of rubbing alcohol over the forecast period, owing to the growing market for pharmaceutical, cosmetic, automotive, and food and beverage industry across the countries. The vast presence of various domestic rubbing alcohol manufacturers and suppliers, the increasing population of the country, increased demand for isopropyl alcohol as a solvent, and escalating demand for paints and coatings from the construction and automotive industries are contributing to the growth of the rubbing alcohol market across the country.
The cosmetics and personal care market in China has experienced positive growth across a wide range of segments, including skincare, makeup, personal grooming, hair care, fragrances, etc. The rapid growth of the middle class and the rise of the younger generation have largely led to higher consumer demand. The factors such as emerging domestic and international brands, strong social media presence, rapidly growing e-commerce industry, and presence of domestic shopping platforms are improving the growth of the cosmetics and personal care market, which is ultimately making the demand for rubbing alcohol across the country.
The key player in APAC rubbing alcohol market are Dow Chemical, Ecolab, ExxonMobil Corporation, INEOS Corporation, Linde Gas, LyondellBasell Industries, Mistral Industrial Chemicals, ReAgent Chemicals Ltd., Royal Dutch Shell and Honeywell International Inc. among others.
The report analyses the APAC Rubbing Alcohol market based on by application, by end use and geography. The Rubbing Alcohol market finds its application in 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.
The key player in APAC Rubbing Alcohol market are Dow Chemical, Ecolab, ExxonMobil Corporation, INEOS Corporation, Linde Gas, LyondellBasell Industries, Mistral Industrial Chemicals, ReAgent Chemicals Ltd., Royal Dutch Shell and Honeywell International Inc. among others.
Why to buy this report: