Who are the key players in Isopropyl Alcohol Market?

Dow, ExxonMobil Corporation, Kailing Chemical (Zhangjiagang) Co. Ltd, Ineos and Shell PLC are the major companies operating in the Isopropyl Alcohol Market. Read More

Which is the fastest growing region in Isopropyl Alcohol Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Isopropyl Alcohol Market?

In 2024, the Asia Pacific accounts for the largest market share in Isopropyl Alcohol Market. Read More

What years does this Isopropyl Alcohol Market cover, and what was the market size in 2023?

In 2023, the Isopropyl Alcohol Market size was estimated at USD 3.04 billion. The report covers the Isopropyl Alcohol Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Isopropyl Alcohol Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Isopropyl Alcohol (IPA) Market Size

Market Size of Isopropyl Alcohol (IPA) Industry

Study Period	2019 - 2029
Market Size (2024)	USD 3.18 Billion
Market Size (2029)	USD 3.97 Billion
CAGR (2024 - 2029)	4.54 %
Fastest Growing Market	Asia Pacific
Largest Market	Asia Pacific
Major Players *Disclaimer: Major Players sorted in no particular order

Isopropyl Alcohol (IPA) Market Analysis

The Isopropyl Alcohol Market size is estimated at USD 3.18 billion in 2024, and is expected to reach USD 3.97 billion by 2029, growing at a CAGR of 4.54% during the forecast period (2024-2029).

The COVID-19 pandemic had a notable impact on the global isopropyl alcohol market. Initially, demand declined due to disruptions in the packaging and agriculture sectors, one of the key consumers of isopropyl alcohol. However, the market registered a slight growth rate due to demand from the medical industry even during the COVID-19 pandemic.

Over the medium term, rising demand for isopropyl alcohol from the pharmaceutical industry and growing utilization of isopropyl alcohol in the personal care and cosmetics industry are likely to drive the market's growth,
On the flip side, the availability of substitute products for isopropyl alcohol remains one of the major concerns for the market.
Innovation in bio-based isopropyl alcohol is likely to create opportunities for the market in the coming years.
Asia-Pacific region is expected to dominate the market.

Isopropyl Alcohol (IPA) Industry Segmentation

Isopropyl alcohol (IPA), or isopropanol, 2-propanol, propane-2-ol, etc., is a colorless liquid with a sharp, musty odor. It is commonly found in rubbing alcohol, hand sanitizers, cosmetics, perfumes, pharmaceutical products, and cleaning products. It is also widely used as a process and preparation solvent, cleaning and drying agent, coating and dye solvent, and intermediate for various chemical formulations.

The isopropyl alcohol market is segmented by application, end-user industry, and geography. The market is segmented by application into process and preparation solvent, cleaning and drying agent, coating and dye solvent, intermediate, and other applications. In the end-user industry, the market is segmented into cosmetics and personal care, healthcare, electronics, paints and coatings, chemicals, and other end-user industries. The report also covers the market size and forecast for the isopropyl alcohol (IPA) market in 27 countries across major regions. The market size and forecasts were made for each segment based on volume (tons) and revenue (USD million).

Application
		Process and Preparation Solvent
		Cleaning and Drying Agent
		Coating and Dye Solvent
		Intermediate
		Other Applications

End-user Industry
		Cosmetics and Personal Care
		Healthcare
		Electronics
		Paints and Coatings
		Chemicals
		Other End-user Industries

Geography

Asia-Pacific
	China
	India
	Japan
	South Korea
	Malaysia
	Thailand
	Indonesia
	Vietnam
	Rest of Asia-pacific

North America
	United States
	Canada
	Mexico

Europe
	Germany
	United Kingdom
	France
	Italy
	Spain
	Nordic Countries
	Turkey
	Russia
	Rest of Europe

South America
	Brazil
	Argentina
	Colombia
	Rest of South America

Middle-East and Africa
	Saudi Arabia
	Qatar
	United Arab Emirates
	Nigeria
	Egypt
	South Africa
	Rest of Middle East and Africa

Need A Different Region Or Segment?

Customize Now

Isopropyl Alcohol (IPA) Market Size Summary

The isopropyl alcohol market is poised for steady growth over the forecast period, driven by its extensive applications across various industries. Initially impacted by the COVID-19 pandemic, which caused a decline in demand from sectors like packaging and agriculture, the market saw a resurgence due to increased demand from the medical industry. The pharmaceutical sector, in particular, has been a significant contributor to the market's expansion, with isopropyl alcohol being a crucial component in drug manufacturing and healthcare products such as hand sanitizers and disinfectants. The personal care and cosmetics industries are also expected to bolster demand, although the presence of substitute products remains a challenge. Innovations in bio-based isopropyl alcohol present new opportunities for market growth.

The Asia-Pacific region is anticipated to lead the isopropyl alcohol market, supported by robust industrial activities and rising demand for cosmetic and pharmaceutical products. China, with its extensive industrial base and growing cosmetic market, plays a pivotal role in this regional dominance. The region's market growth is further fueled by investments in the chemical industry and the expansion of production capacities by key players. In India, domestic manufacturers are increasing production to meet local demand, while Japan continues to be a hub for cosmetics and personal care. The market is partially consolidated, with major companies like Shell, Ineos, ExxonMobil, and Dow playing significant roles in shaping its landscape.

Explore More

Isopropyl Alcohol (IPA) Market Size - Table of Contents

1. MARKET DYNAMICS
1. 1.1 Drivers
  1. 1.1.1 Rising Demand for Isopropyl Alcohol from the Pharmaceutical Industry
  2. 1.1.2 Growing Utilization of Isopropyl Alcohol in the Personal Care and Cosmetics Industry
2. 1.2 Restraints
  1. 1.2.1 Availability of Substitute Products for Isopropyl Alcohol
3. 1.3 Industry Value Chain Analysis
4. 1.4 Porter's Five Forces Analysis
  1. 1.4.1 Bargaining Power of Suppliers
  2. 1.4.2 Bargaining Power of Buyers
  3. 1.4.3 Threat of New Entrants
  4. 1.4.4 Threat of Substitute Products and Services
  5. 1.4.5 Degree of Competition
2. MARKET SEGMENTATION (Market Size in Value and Volume)
1. 2.1 Application
  1. 2.1.1 Process and Preparation Solvent
  2. 2.1.2 Cleaning and Drying Agent
  3. 2.1.3 Coating and Dye Solvent
  4. 2.1.4 Intermediate
  5. 2.1.5 Other Applications
2. 2.2 End-user Industry
  1. 2.2.1 Cosmetics and Personal Care
  2. 2.2.2 Healthcare
  3. 2.2.3 Electronics
  4. 2.2.4 Paints and Coatings
  5. 2.2.5 Chemicals
  6. 2.2.6 Other End-user Industries
3. 2.3 Geography
  1. 2.3.1 Asia-Pacific
    1. 2.3.1.1 China
    2. 2.3.1.2 India
    3. 2.3.1.3 Japan
    4. 2.3.1.4 South Korea
    5. 2.3.1.5 Malaysia
    6. 2.3.1.6 Thailand
    7. 2.3.1.7 Indonesia
    8. 2.3.1.8 Vietnam
    9. 2.3.1.9 Rest of Asia-pacific
  2. 2.3.2 North America
    1. 2.3.2.1 United States
    2. 2.3.2.2 Canada
    3. 2.3.2.3 Mexico
  3. 2.3.3 Europe
    1. 2.3.3.1 Germany
    2. 2.3.3.2 United Kingdom
    3. 2.3.3.3 France
    4. 2.3.3.4 Italy
    5. 2.3.3.5 Spain
    6. 2.3.3.6 Nordic Countries
    7. 2.3.3.7 Turkey
    8. 2.3.3.8 Russia
    9. 2.3.3.9 Rest of Europe
  4. 2.3.4 South America
    1. 2.3.4.1 Brazil
    2. 2.3.4.2 Argentina
    3. 2.3.4.3 Colombia
    4. 2.3.4.4 Rest of South America
  5. 2.3.5 Middle-East and Africa
    1. 2.3.5.1 Saudi Arabia
    2. 2.3.5.2 Qatar
    3. 2.3.5.3 United Arab Emirates
    4. 2.3.5.4 Nigeria
    5. 2.3.5.5 Egypt
    6. 2.3.5.6 South Africa
    7. 2.3.5.7 Rest of Middle East and Africa