Global IPA Industry to Benefit from Bullish Market Sentiments 
Isopropyl alcohol (IPA), one of the most demanded chemicals these days, has recorded several weeks hike in its international prices which were heard up to almost double this week. The astonishing increase in the IPA prices has been attributed to its skyrocketing demand as a key disinfectant in hand sanitizers and alcohol wipes. CDC has recommended the use of alcohol-based hand sanitizers with more than 60% ethanol or 70% isopropanol in its composition that is effective against the viruses that lie under the category of Covid-19.

The outbreak of pandemic was a tipping point in the IPA market after WHO recommended the use of alcohol-based hand rubs as one of the means for rapidly and effectively inactivating potentially harmful microorganisms transmitted through hands. Since the declaration, alcohol -based hand sanitizers have become the most sought-after product in the global markets. As the global demand outstrips the supply, the disinfectant chemicals manufacturers are boosting their sanitizer production in their fight against Covid-19.

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U.S.

In the last week of March, the response of U.S to coronavirus heightened and consequently triggered spike in the IPA demand. Until this week, U.S. IPA was showing a nominal price rise on weekly basis, however rapid rise in the number of positive coronavirus cases has shot up the domestic demand. However, the recorded IPA spot prices were in the range of $1,367-1,874/tonne FOB US Gulf. Major US IPA suppliers include ExxonMobil, Dow Chemical, LyondellBasell, Monument Chemical and Shell Chemical.  US. is expected to have more active cases of coronavirus than China and Italy, hence, IPA demand in U.S. is likely to surpass that in Europe in the coming weeks. 

Europe

Prices on the Isopropanol (IPA) in Europe have skyrocketed, reaching a historic high, because the demand is outstripping supply as sales of hand gels and other sanitizing products has boosted amid the coronavirus outbreak. European IPA Technical grade prices rose to $1,990-2,430/tonne and Cosmetic or Pharmaceutical grade rose to $2,320-2,650/tonne, as compared to the prices from the pre-pandemic levels of $990 per MT.

Asia

Iso Propanol prices in Asia surged tremendously this month, recording 67-weeks high this week due to boost in demand from countries like Malaysia, Singapore, and Indonesia for utilizing in downstream sectors like disinfectants and hand sanitizers. Moreover, disruptions in supply chain due to lockdown measures adopted to contain the spread of the virus are further adding to elevated prices. IPA prices CFR southeast (SE) Asia surged at around $900-1,000/tonne CFR (cost & freight) SE Asia.

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