The Business Research Company’s report on the Isopropyl Alcohol Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How are market drivers shaping the future growth trajectory of the isopropyl alcohol industry?
The rising usage of personal care products and cosmetic products is expected to propel the growth of the isopropyl alcohol market going forward. Personal care and cosmetic products refer to any product which is applied to the external part of the body for beautifying and basic grooming such as cleaning body parts, protecting from germs, preventing bad odor, changing in appearance, and keeping body parts in good condition. Isopropyl alcohol is used in various personal care and cosmetic products such as aftershave lotions, bath products, eye, nailcare, haircare, skincare products, and other make-up products due to their different functions which include antifoaming agents, cosmetic astringent, solvent, and viscosity decreasing agent. For instance, in July 2024, according to a report published by the British Beauty Council, a UK-based organization, in 2023, the personal care sector contributed £27.2 billion ($30.44 billion) to the GDP, marking an 11% rise compared to 2022. Therefore, the rising usage of personal care products and cosmetic products is driving the growth of the isopropyl alcohol market.
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What is the estimated market size of the isopropyl alcohol sector by 2029, based on current forecasts?
The isopropyl alcohol market size has grown strongly in recent years. It will grow from $4.85 billion in 2024 to $5.24 billion in 2025 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to industrial solvent use, disinfectant and sanitizer demand, chemical intermediate, cleaning applications, medical and healthcare uses.
The isopropyl alcohol market size is expected to see rapid growth in the next few years. It will grow to $7.79 billion in 2029 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to pandemic preparedness and crisis management, environmental concerns and sustainable practices, raw material availability and pricing, consumer health and safety concerns, global industrial growth. Major trends in the forecast period include emergency response preparedness, consumer product formulation, supply chain dynamics, environmentally friendly alternatives, consumer preferences for health and safety.
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#Who are the top players in the isopropyl alcohol market?
Major companies operating in the isopropyl alcohol market are The Dow Chemical Company, INEOS Group Limited, Royal Dutch Shell PLC, ExxonMobil Corporation, LG Chem Ltd., Kellin Chemicals Co. Ltd., LCY Chemical Corp, Zhejiang Xinhua Chemical Co. Ltd., China National Petroleum Corporation, Mitsui Chemicals Inc., ENEOS Corporation, Avantor Inc., Jiangsu Denoir Technology Co. Ltd., Tokuyama Corporation, Mitsubishi Chemical Corporation, Galaxy Chemicals, LyondellBasell Industries Holdings B.V., Carboclor S.A., Sasol Limited, Chang Chun Group, DuPont de Nemours Inc., Mistral Industrial Chemicals, Linde Gas, Ecolab Inc., BASF SE, Honeywell International Inc., ReAgent Chemicals Ltd., Guangfu Fine Chemicals, Petrochemical Corporation of Singapore Private Limited, Fushun Petrochemical Company, Yancheng Super Chemical Technology Co. Ltd.
#What are the major trends in the isopropyl alcohol market?
Product innovation is a key trend gaining popularity in the isopropyl alcohol market. Major companies operating in the market are focused on research and development for product innovations to sustain their position in the market. For instance, in August 2024, Eastman Chemical Company, a US-based chemical industry company, launched EastaPure IPA. It is a new electronic-grade solvent aimed at delivering superior quality for the electronics industry. The solvent boasts exceptional purity and performance, tailored to meet the stringent demands of electronics manufacturing. By ensuring high reliability and low levels of contaminants, Eastman’s product is designed to improve the efficiency and quality of semiconductor and display production, responding to the increasing need for advanced materials in the sector.
Which geography holds the highest isopropyl alcohol market share?
Asia-Pacific was the largest region in the isopropyl alcohol market in 2024 and is expected to be the fastest-growing region in the forecast period. The regions covered in the isopropyl alcohol market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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How do different segments contribute to the overall expansion of the isopropyl alcohol market?
The isopropyl alcohol market covered in this report is segmented –
1) By Grade: 70% IPA, 90% IPA
2) By Production Method: Indirect Hydration, Direct Hydration
3) By Application: Antiseptic And Astringent, Cleaning Agent, Solvent, Chemical Intermediate, Other Applications
4) By End-Use: Cosmetics And Personal Care, Pharmaceutical, Food And Beverages, Paints And Coatings, Chemical, Other End-Uses
Subsegments:
1) By 70% IPA (Isopropyl Alcohol): Industrial Grade 70% IPA, Pharmaceutical Grade 70% IPA, Cosmetic Grade 70% IPA
2) By 90% IPA (Isopropyl Alcohol): Industrial Grade 90% IPA, Pharmaceutical Grade 90% IPA, Laboratory Grade 90% IPA
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What defines the structure and scope of the isopropyl alcohol market?
Isopropyl alcohol is a colorless, volatile flammable organic compound consisting of carbon, hydrogen, and oxygen molecule in the C3H8O formula usually derived from the reaction of propylene with sulphuric acid followed by hydrolysis. Isopropyl alcohol is widely used for disinfection, cleaning, and as an ingredient in personal care products like aftershaves and hand sanitizers due to its antibacterial, quick-drying, and cooling properties.
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