Global Isopropyl Alcohol Market, By Grade (70% IPA and 90% IPA), Production Method (Indirect Hydration and Direct Hydration), Application (Antiseptic and Astringent, Cleaning Agent, Solvent, Chemical Intermediate, and Others), End-User Industry (Cosmetics and Personal Care, Pharmaceutical, Food and Beverages, Paints and Coatings, Chemical, and Other End-user Industries) – Industry Trends and Forecast to 2031.
Isopropyl Alcohol Market Analysis and Size
Global isopropyl alcohol market size was valued at USD 5.67 billion in 2023 and is projected to reach USD 7.64 billion by 2031, with a CAGR of 3.80% during the forecast period of 2024 to 2031. 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.
Report Scope and Market Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2024 to 2031
|
|
Base Year
|
2023
|
|
Historic Years
|
2022 (Customizable to 2016-2021)
|
|
Quantitative Units
|
Revenue in USD Billion, Volumes in Units, Pricing in USD
|
|
Segments Covered
|
Grade (70% IPA and 90% IPA), Production Method (Indirect Hydration and Direct Hydration), Application (Antiseptic and Astringent, Cleaning Agent, Solvent, Chemical Intermediate, and Others), End-User Industry (Cosmetics and Personal Care, Pharmaceutical, Food and Beverages, Paints and Coatings, Chemical, and Other End-user Industries)
|
|
Countries Covered
|
U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, Rest of South America
|
|
Market Players Covered
|
Dupont (U.S.), SOLVAY (Belgium), DAIKIN (Japan), Dow (U.S.), Halocarbon, LLC (U.S.) Freudenberg SE (Germany), The Chemours Company (U.S.), Metalubgroup (Israel), M&I Materials Limited (U.K), Nye Lubricants, Inc. (U.S.), Lubrilog (France) ECCO Gleittechnik GmbH (Germany), HUSK-ITT Corporation (U.S.), Setral Chemie GmbH (Germany), IKV Tribology Ltd (Germany)
|
|
Market Opportunities
|
|
Market Definition
Isopropyl Alcohol Market Dynamics
Drivers
- Rising Demand in Cosmetic and Personal Care Products
The use of isopropyl alcohol in cosmetics and personal care products is driven by its effectiveness as a disinfectant and antiseptic agent. In hand sanitizers, isopropyl alcohol acts as the active ingredient that kills germs and bacteria, making it a crucial component in promoting hygiene. Additionally, isopropyl alcohol is used in skin lotions and perfumes for its antiseptic properties and ability to enhance product penetration. The demand for these products is expected to continue growing, especially with the increased emphasis on personal hygiene and wellness.
- Increasing Use in Automotive Industry
Isopropyl alcohol finds extensive use in the automotive industry due to its effectiveness as a cleaning and degreasing agent. It is commonly used for cleaning auto parts, engines, and tools due to its ability to dissolve grease, oil, and dirt. Isopropyl alcohol is also used as a fuel additive to help remove water from fuel lines and prevent fuel line from freezing in cold temperatures. Moreover, it is a key ingredient in windshield washer fluids, where it helps to remove dirt and grime from the windshield. The increasing demand for automobiles and maintenance services is expected to drive the demand for isopropyl alcohol in this sector.
Opportunities
- Increasing Demand for Disinfectants
The global emphasis on hygiene and sanitation, particularly in light of the COVID-19 pandemic, has led to a surge in demand for disinfectants. Isopropyl alcohol, with its proven effectiveness against a wide range of pathogens, has become a key component in disinfectant formulations. The healthcare sector, in particular, relies heavily on isopropyl alcohol-based disinfectants for sanitizing medical equipment, surfaces, and even hands. The residential sector has also seen a significant increase in the use of isopropyl alcohol-based disinfectants for household cleaning purposes. This growing demand presents a significant market opportunity for manufacturers of isopropyl alcohol.
- Growing Use in Pharmaceutical Industry
Isopropyl alcohol plays a crucial role in the pharmaceutical industry, where it is used for various purposes such as cleaning equipment, manufacturing drugs, and as a solvent for pharmaceutical formulations. Its use as a solvent is particularly important for extracting and purifying pharmaceutical compounds. Additionally, isopropyl alcohol is used in the production of sanitizing wipes, which have witnessed increased demand due to the pandemic. The pharmaceutical industry's continued growth and the need for stringent sanitation practices present a significant opportunity for the isopropyl alcohol market to expand its presence in this sector.
Restraints/Challenges
- Fluctuating Raw Material Prices
The isopropyl alcohol market is significantly influenced by the cost and availability of raw materials, particularly propylene, which is a key feedstock for isopropyl alcohol production. Fluctuations in propylene prices can directly impact the production cost of isopropyl alcohol, affecting the profitability of manufacturers. Moreover, any disruptions in the supply chain of propylene can lead to supply shortages and price volatility in the isopropyl alcohol market, posing challenges for manufacturers and buyers alike.
- Stringent Regulations
The isopropyl alcohol market is subject to stringent regulations governing its production, handling, and disposal. Regulatory authorities impose standards related to environmental protection, occupational safety, and product quality to ensure that isopropyl alcohol is manufactured, stored, and used safely. Compliance with these regulations requires manufacturers to invest in sophisticated production technologies, waste management systems, and employee training programs. Non-compliance can result in fines, penalties, or even shutdowns, posing significant challenges for market participants.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Isopropyl Alcohol Market Scope
The market is segmented on the basis of grade, production method, end-user industry, and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Grade
- 70% IPA
- 90% IPA
Production Method
- Indirect Hydration
- Direct Hydration
Application
- Antiseptic and Astringent
- Cleaning Agent
- Solvent, Chemical Intermediate
- Others
End-User Industry
- Cosmetics and Personal Care
- Pharmaceutical
- Food and Beverages
- Paints and Coatings
- Chemical
- Other End-user Industries
Isopropyl Alcohol Market Regional Analysis/Insights
The market is analyzed and market size insights and trends are provided by country, grade, production method, end-user industry, and application as referenced above.
The countries covered in the market report are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, rest of Middle East and Africa, Brazil, Argentina, and rest of South America.
Asia-Pacific is expected to dominate the market due to rising demand from key industries such as pharmaceuticals, cosmetics, personal care, and chemicals. This growth is driven by factors such as increasing population, urbanization, and disposable incomes, which are boosting demand for a variety of products across these sectors.
North America is expected to be the fastest growing due to factors such as technological advancements, research and development activities, and a strong focus on innovation are driving growth in these sectors. In addition, the region's robust infrastructure, favorable regulatory environment, and high levels of disposable income are contributing to the growth of the specialty chemicals market in North America.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Isopropyl Alcohol Market Share Analysis
The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.
Some of the major players operating in the market are:
- Exxon Mobil Corporation (U.S.)
- Shell (Netherlands)
- Dow (U.S.)
- China Petrochemical Corporation (China)
- Mitsubishi Chemical Corporation (Japan)
- Tokuyama Corporation (Japan)
- LG Chem (South Korea)
- Jiangsu Denoir Technology Co. Ltd (China)
- Avantor, Inc (U.S.)
- INEOS AG (Germany)
- LyondellBasell Industries Holdings B.V. (U.S.)
- Huntsman International LLC. (U.S.)
- Hefei TNJ Chemical Industry Co., Ltd (China)
- GALAXY (Egypt), DuPont (U.S.)
- Clariant (Switzerland)
- Carboclor SA (Argentina)
SKU-