Isopropyl Alcohol Market Size, Share, Analysis, Trends, Growth, Forecasts, 2032

Isopropyl Alcohol Industry Prospective

Zion Market Research has published a report on the global Isopropyl Alcohol Market, estimating its value at USD 3.44 Billion in 2023, with projections indicating that it will reach USD 6.56 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 7.44% over the forecast period 2024-2032. The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Isopropyl Alcohol industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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In order to give the users of this report a comprehensive view on the Isopropyl Alcohol market we have included competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein End-User segment is benchmarked based on its market size, growth rate and general attractiveness.

Isopropyl Alcohol Market: Overview

The Isopropyl Alcohol Market focuses on the production and distribution of isopropyl alcohol (IPA), a versatile chemical compound widely used as a solvent and disinfectant. IPA is utilized across various industries, including pharmaceuticals, cosmetics, personal care, and electronics, as well as in household and industrial cleaning products. Its primary applications include manufacturing hand sanitizers, antiseptics, and disinfectants, especially following the heightened demand during the COVID-19 pandemic. Additionally, it is used in the production of coatings, adhesives, and inks. The market's growth is driven by increasing demand in healthcare, hygiene, and manufacturing industries, along with its widespread use in cleaning and sterilization processes.

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The report provides company market share analysis in order to give a broader overview of the key players in the Isopropyl Alcohol market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product launch, agreements, partnerships, collaborations & joint ventures, research & development, regional expansion of major participants involved in the Isopropyl Alcohol market on global and regional basis. The outbreak COVID-19 is likely to have a major impact on the global the plastics in personal protective equipment market in the upcoming periods.

Isopropyl Alcohol Market: Growth Factors

The Isopropyl Alcohol (IPA) Market is growing due to several key factors, primarily driven by its wide range of applications across multiple industries. These growth factors include:

1. Increased Demand for Sanitizers and Disinfectants: The COVID-19 pandemic led to a surge in demand for IPA as a key ingredient in hand sanitizers, disinfectants, and surface cleaners. While this spike has moderated, ongoing emphasis on hygiene and sanitation continues to fuel demand for IPA in healthcare and household cleaning products.

2. Growing Pharmaceutical Industry: IPA is widely used in the pharmaceutical sector as a solvent in the production of medicines, capsules, and disinfectants. The growing pharmaceutical industry, driven by increasing healthcare needs, is significantly boosting the demand for isopropyl alcohol.

3. Rising Demand in Electronics and Semiconductor Manufacturing: IPA is used in the electronics industry for cleaning and degreasing delicate electronic components and circuit boards. The expanding electronics and semiconductor sectors, particularly in Asia-Pacific, are contributing to the increased use of IPA for precision cleaning applications.

4. Widespread Use in Personal Care Products: IPA is an essential ingredient in personal care products, including cosmetics, lotions, and aftershaves, where it acts as an astringent and solvent. The growth of the cosmetics and personal care industry, fueled by rising consumer awareness of hygiene and grooming, is driving demand for IPA.

5. Industrial Applications: Isopropyl alcohol is used in various industrial applications such as coatings, inks, and adhesives, where it serves as a solvent. The recovery of industrial production post-pandemic, along with increasing demand in manufacturing, is contributing to the growth of the IPA market.

6. Growing Use in Automotive Sector: IPA is used in cleaning and maintenance applications in the automotive industry, particularly for cleaning parts, engines, and surfaces. The expanding automotive industry and rising production of electric vehicles are supporting demand for IPA in this sector.

In summary, the IPA market is being propelled by its critical role in healthcare, pharmaceuticals, personal care, electronics, and industrial sectors, with growing demand for hygiene and cleaning products, as well as its wide range of industrial applications.

Isopropyl Alcohol Market: Segmentation

The study provides a decisive view on the Isopropyl Alcohol market by segmenting the market based on Applications, End-User.

The Application segment covered under this study includes Antiseptic & Astringent, Cleaning Agent, Solvent, Chemical Intermediate, Others.

The End-User segments covered under this study include Cosmetics and Personal Care, Pharmaceutical, Food and Beverages, Paints and Coatings, Chemical, Others.

The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America and Middle East & Africa. This segmentation includes demand for individual segments in all the regions.

Isopropyl Alcohol Market: Report Scope

Isopropyl Alcohol Market: Regional Insights

Asia Pacific is likely to hold the largest share in terms of volume in the forecast period. The regional movement of isopropyl alcohol is likely to depend on the recent industry trends and economic upturn of countries, post the coronavirus epidemic. Moreover, emerging economies of Asia Pacific, such as Thailand, Japan, and South Korea, as well as other regions are increasingly reliant on processed food items that require preservatives to optimize shelf life, which will support the growth of the market in the region.

Isopropyl Alcohol Market: Competitive Space

The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global Isopropyl Alcohol market.

Key players profiled in the report include

• Dow Chemical
• Mistral Industrial Chemicals
• INEOS Corporation
• ReAgent Chemicals Ltd.
• LyondellBasell Industries
• Linde Gas
• Ecolab
• Royal Dutch Shell
• ExxonMobil Corporation.
• And Others

This report segments the Global Isopropyl Alcohol Market as follows:

Global Isopropyl Alcohol Market: Application Analysis

• Antiseptic & Astringent
• Cleaning Agent
• Solvent
• Chemical Intermediate
• Others

Global Isopropyl Alcohol Market: End-User Analysis

• Cosmetics and Personal Care
• Pharmaceutical
• Food and Beverages
• Paints and Coatings
• Chemical
• Others

Global Isopropyl Alcohol Market: By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa