Authored By: Sarah
11 Jul 2024

 Isopropyl Alcohol Market to grow by USD 689.1 million between 2024-2028

According to a research report “ Isopropyl Alcohol Market” by Application (Solvents, Chemical intermediates, Pharmaceutical, Others) End-user (Cosmetics and personal care, Cleaning agent, Food and beverages, Others) Geography (APAC, North America, Europe, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 689.1 million at a CAGR of almost 4.07% during the forecast period. Isopropyl alcohol, a versatile solvent, holds significant market share due to its superior solvency capabilities. Key industries, such as coatings and inks, account for a substantial portion of its demand. Its unique property of high miscibility in both water and non-polar solvents makes it an indispensable component in surface coatings. Isopropyl alcohol is instrumental in the production of acrylic emulsions, resins, and various textures. Additionally, it is utilized in the formulation of polyvinyl butyral (PVB), alkaloids, and oils within the business sector..

Browse market data tables, figures, and in-depth TOC on “Isopropyl Alcohol Market” by Application (Solvents, Chemical intermediates, Pharmaceutical, Others) End-user (Cosmetics and personal care, Cleaning agent, Food and beverages, Others) Geography (APAC, North America, Europe, South America, Middle East and Africa) Global Forecast to 2028.

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By Application, the Solvents segment is projected to dominate the market size in 2024.

In the global cosmetics and personal care industry, key markets such as France, the US, Singapore, Japan, Germany, and Hong Kong lead in consumption of beauty products containing isopropyl alcohol. This solvent, viscosity-decreasing agent, and anti-foaming component is essential in manufacturing lotions, skin care products, and sanitizers. The escalating demand for these items is projected to boost isopropyl alcohol market growth during the forecast period.

By End-user, Cosmetics and personal care  segment is expected to hold the largest market size for the year 2024.

Isopropyl alcohol is a versatile solvent with extensive applications in various industries. In surface coatings, it is utilized for paint stripping and as a solvent in paint and coating manufacturing. Refractory coatings also benefit from its use as a solvent carrier. Isopropyl alcohol serves as a crucial solvent in the processing of natural products like fats, gums, oils, waxes, and inks. Its role extends to the production of cleaning and disinfectant solutions for both household and commercial sectors.

APAC is forecasted to hold the largest market size by region in 2024.

The Isopropyl Alcohol market exhibits robust growth, driven by its extensive applications in various industries. Key sectors include pharmaceuticals, cosmetics, and chemical manufacturing. Demand is fueled by its versatility as a solvent, disinfectant, and de-icing agent. Market size is projected to expand significantly due to increasing consumer awareness and regulatory approvals. Businesses stand to benefit from this trend through increased revenue opportunities and market expansion.

The Isopropyl Alcohol Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Deepak Fertilisers and Petrochemicals Corp. Ltd.
  • ENEOS Holdings Inc.
  • Exxon Mobil Corp.
  • GJ Chemical
  • Greenfield Global Inc.
  • Honeywell International Inc.
  • INEOS AG
  • LCY Chemical Corp.
  • LG Chem Ltd.
  • LyondellBasell Industries N.V.
  • Mitsui Chemicals Inc.
  • Penta s.r.o
  • Sasol Ltd.
  • SEQENS GROUP
  • Shell plc
  • Soft Jamb Co.
  • Spectrum Laboratory Products Inc.
  • Tokuyama Corp.
  • Tokyo Chemical Industry Co. Ltd.
  • Vizag Chemical International
.

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Research Analysis Overview

The Isopropyl Alcohol (IPA) market plays a significant role in various industries, including Agrochemicals, Pharmaceutical formulations, and Personal Hygiene. IPA functions as a crucial chemical intermediate in the production of antiseptics and astringents, sanitizers, and cleaning agents. High-purity grades of IPA are essential in the manufacturing of paints and coatings, plastics, and isopropyl acetate. The economic growth of numerous sectors drives the demand for IPA. For instance, in the pharmaceutical industry, IPA is used as a solvent and in the production of glycerol and acetone. In the agrochemical sector, IPA is used as an intermediate in the production of pesticides and herbicides. However, the production of IPA poses challenges such as pollution problems and corrosive conditions. Propylene, a primary raw material for IPA production, is derived from petroleum, leading to environmental concerns. Additionally, IPA's corrosive nature necessitates the use of specialized equipment and handling procedures. Despite these challenges, the Isopropyl Alcohol Market continues to expand due to its versatility and wide application in various industries. The market is expected to grow significantly in the coming years, driven by the increasing demand for IPA in various sectors.

Market Research Overview

The Isopropyl Alcohol Market plays a significant role in various industries, including Pharmaceuticals, Electronics, Paints & Chemicals, Agrochemicals, and Food and Beverages. Isopropyl Alcohol (IPA), a chemical intermediate, is used as a solvent, antiseptic, and astringent in numerous applications. In the Pharmaceutical sector, IPA is used in the production of Pharmaceutical formulations, such as Sanitizers and Antiseptics, requiring high-purity grades. The Electronics sector utilizes IPA in the production of Specialty products, Aromatics, and Polyolefins. The Paints & Coatings industry employs IPA as a solvent and cleaning agent. In the Agrochemicals sector, IPA is used as an Intermediate in the production of Pesticides and Fertilizers. Isopropyl Alcohol is also used in the production of Resins, Plastics, and Cleaning agents. Population growth has led to an increase in demand for Disinfectants and Sanitizers, driving the Isopropyl Alcohol Market. However, pollution problems and corrosive conditions pose challenges to the market's growth. The Isopropyl Alcohol Market also caters to the production of Ethanol content for Personal Hygiene products and Glycerol, Acetone, and other Solvents.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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