Isopropyl Alcohol (IPA)Companies (2024 - 2029)

Isopropyl Alcohol (IPA) Market Companies Summary

The Isopropyl Alcohol (IPA) market has experienced growth due to the increasing use of cosmetic and personal care products, the wide usage of IPA as cleaning agents, and continued demand from the pharmaceutical industry for sanitizer production. Despite the decrease in production in various industries like chemicals and paints, and coatings due to the COVID-19 pandemic, the growth in the production of sanitizers compensated for this decrease. However, the availability of alternative ways to produce acetone remains a significant concern for the market. Nevertheless, innovation in bio-based isopropyl alcohol is likely to create opportunities for the market in the coming years. The pharmaceutical segment, an end-user of isopropyl alcohol, dominates the market. Isopropyl alcohol is used in alcohol swabs and wipes for cleaning wounds, hand sanitizers, ear drops, and oral mouthwash solutions. In the pharmaceutical industry, it can be used in small and safe quantities in capsule or tablet manufacturing processes and in the formation of pharmaceutical intermediates using solvents. The increasing health concerns caused by the uncertainties of the COVID-19 pandemic have had a significantly positive impact on the pharmaceuticals segment of the market studied, particularly in the sales of hand sanitizers. This factor further boosted the demand for isopropyl alcohol.