The Europe isopropyl alcohol (IPA) market is experiencing dynamic trends and holds promising prospects. IPA is a vital solvent and disinfectant in pharmaceutical processes, ensuring product quality and hygiene standards. With the pharmaceutical industry's continuous growth and the importance of healthcare, IPA's demand remains steadfast. As it plays a pivotal role in drug production and medical device sterilization, the future of the Europe IPA market in serving the pharmaceutical sector appears robust and integral to the region's healthcare and pharmaceutical advancements.
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Data Bridge Market Research analyses that the Europe Isopropyl Alcohol Market is expected to grow at a CAGR of 4.96% in the forecast period of 2023 to 2030 and is expected to reach USD 2.25 billion by 2030 from USD 1.53 billion in 2022. Isopropyl alcohol (IPA) plays a crucial role in the beauty and personal care industry, serving as a key ingredient in products such as perfumes, lotions, and nail polish removers. Its rapid evaporation and solvent properties make IPA an essential component, ensuring effective product formulations and driving demand within this sector.
Key Findings of the Study
Pandemic-driven demand is expected to drive the market's growth rate
The COVID-19 pandemic has fueled a remarkable surge in the European isopropyl alcohol (IPA) market. IPA's efficacy as a disinfectant has driven its extensive adoption in hospitals, households, and industries, serving as a pivotal tool in curbing viral transmission. This pandemic-induced demand has strongly propelled market growth, making IPA a critical component in the region's fight against infectious diseases.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Production Method (Indirect Hydration and Direct Hydration), Raw Material (Acetone, Propylene, Others), Grade (Industrial Grade Isopropyl Alcohol (IPA), USP Grade Isopropyl Alcohol (IPA), USP Kosher Isopropyl Alcohol (IPA), Pharmaceutical Isopropyl Alcohol (IPA)), Type (Isopropanol 99.8%, Isopropanol 99% USP, Isopropanol 70% Isopropanol 70% USP, Others), Application (Chemical Manufacturing, Household and Industrial Cleaning, Pharmaceuticals, Personal Care, Transportation, Others)
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Countries Covered
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Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe
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Market Players Covered
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Shell plc (U.K.), L.G. Chem. (South Korea), Dow (U.S.), Alfa Aesar, Thermo Fisher Scientific. (U.S.), INEOS (U.K.), MITSUI CHEMICALS EUROPE GmbH (Germany), ExxonMobil (U.S.), LyondellBasell Industries Holdings B.V. (Netherlands), DUTCH2 (Netherlands), Lucemill (U.K.), Recochem Corporation. (Canada), Absolute Solvents Ltd (U.K.), ISU CHEMICAL. (South Korea), Linde plc (Ireland), Brenntag SE (Germany)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The Europe isopropyl alcohol market is segmented on the basis of production method, raw material, grade, type, and application.
- On the basis of production method, the Europe isopropyl alcohol market is segmented into indirect hydration and direct hydration.
- On the basis of raw material, the Europe isopropyl alcohol market is segmented into acetone, propylene, and others.
- On the basis of grade, the Europe isopropyl alcohol market is segmented into industrial grade isopropyl alcohol (IPA), USP grade isopropyl alcohol (IPA), USP kosher isopropyl alcohol (IPA), and pharmaceutical isopropyl alcohol (IPA).
- On the basis of type, the Europe isopropyl alcohol market is segmented into isopropanol 99.8%, isopropanol 99% USP, isopropanol 70% isopropanol 70% USP, and others.
- On the basis of application, the Europe isopropyl alcohol market is segmented into chemical manufacturing, household and industrial cleaning, pharmaceuticals, personal care, transportation, and others.
Major Players
Data Bridge Market Research recognizes the following companies as the major Europe isopropyl alcohol market players in Europe isopropyl alcohol market are Shell plc (U.K.), L.G. Chem. (South Korea), Dow (U.S.), Alfa Aesar, Thermo Fisher Scientific. (U.S.), INEOS (U.K.), MITSUI CHEMICALS EUROPE GmbH (Germany).
Market Developments
- In December 2021, Tokuyama Corporation unveiled a strategic partnership with SK Geo Centric Co., Ltd. (SKGC) to establish a joint venture for the partnership of 30,000 tons per annum (tpa) of isopropyl alcohol (IPA) in South Korea. This partnership is driven by the growing demand for IPA, particularly in the expanding semiconductor market. The joint venture's primary goal is to supply high-purity IPA to meet the specific needs of the electronics industry.
- In September 2022, Exxon Mobil unveiled an expanded healthcare solutions portfolio, addressing evolving medical requirements. This portfolio features ExxonMobil Isopropyl Alcohol (IPA) alongside performance and specialty polymers, catering to applications such as medical equipment, infection control products, and pharmaceutical and laboratory supplies, providing safe and reliable material choices for the healthcare sector.
- In October 2020, Dow unveiled plans to expand its alkoxylation capacity in Spain to cater to the demands of the Europe, Middle East, Africa, and India (EMEAI) region. Alkoxylation is a crucial process employed in various applications, including industrial and household cleaning products, cosmetics, and paints. This strategic move underscores Dow's commitment to meeting customers' growing needs in these diverse industries across the EMEAI region.
- In March 2020, Royal Dutch Shell plc's manufacturing units in the Netherlands and Canada prioritized the swift production of Isopropyl Alcohol to support the production of essential soaps and sanitizers in response to the COVID-19 pandemic. The company dedicated efforts to meet the heightened demand from public, private, and healthcare sectors, ensuring a consistent supply of these vital products and customer satisfaction during the crisis.
Regional Analysis
Geographically, the countries covered in the Europe isopropyl alcohol market report are Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe.
As per Data Bridge Market Research analysis:
Germany is the dominant region in Europe's isopropyl alcohol market during the forecast period 2023-2030
Germany is poised to be a dominant force in the European isopropyl alcohol (IPA) market. The country's sustained demand for IPA across various sectors, including pharmaceuticals, cosmetics, electronics, and manufacturing, positions it as a significant market player. Furthermore, Germany's strong focus on innovation and research creates potential for developing advanced IPA-based products and solutions. This combination of consistent demand and a culture of innovation reinforces Germany's leading role in the European IPA market.
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