The Latin America, Middle East and Africa Isopropyl Alcohol Market would witness market growth of 8.4% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 277.47 kilo tonnes, showcasing a growth of 9.1% (2023-2030).
While it has been traditionally used in industries such as healthcare, electronics, and cosmetics, there is growing interest in exploring new applications and market segments. For example, IPA-based products are used in automotive cleaning and detailing, household disinfection, and specialty chemical formulations, driven by evolving consumer preferences and market trends.
Additionally, regulatory requirements and quality standards governing the production, handling, and distribution of this continue to evolve, particularly in pharmaceuticals, healthcare, and personal care industries. Manufacturers focus on ensuring compliance with stringent regulations and industry standards to meet end-users and regulatory authorities' quality and safety expectations.
Oil is a primary feedstock for producing various petrochemicals, including isopropyl alcohol. High oil production in Kuwait can lead to abundant feedstock supplies for petrochemical plants, potentially reducing production costs for IPA manufacturers. As per the ITA, approximately 95% of exports and 90% of government profits from exports are comprised of crude. Kuwait possesses an estimated 7% of the world's oil reserves and presently operates at a daily capacity of 3.15 million barrels. Furthermore, Kuwait intends to allocate $44 billion towards hydrocarbon exploration, production, and other initiatives until 2025. Therefore, the expansion of the pharmaceutical industry and high production of crude oil are driving the market's growth.
The Brazil market dominated the LAMEA Isopropyl Alcohol Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $111.6 million by 2030. The Argentina market is exhibiting a CAGR of 9% during (2023 - 2030). Additionally, The UAE market would experience a CAGR of 8% during (2023 - 2030).
Free Valuable Insights: The Worldwide Isopropyl Alcohol Market is Projected to reach USD 4.4 Billion by 2030, at a CAGR of 7.7%
Based on Application, the market is segmented into Antiseptic & Astringent, Cleaning Agent, Chemical Intermediate, Solvent, and Others. Based on End Use, the market is segmented into Pharmaceutical, Cosmetics & Personal Care, Food & Beverage, Paints & Coatings, Electronics, Chemicals, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By End Use (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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