Isopropyl Alcohol Market [2023-2031] Research Reports, Industry Size, Growth Opportunity, Regional Analysis

The global isopropyl alcohol market size was US$ 2.1 billion in 2021. The global isopropyl alcohol market is forecast to grow to US$ 5.4 billion by 2030 by registering a compound annual growth rate (CAGR) of 7.9% during the forecast period from 2022 to 2030.

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Isopropyl alcohol is an organic chemical molecule with the molecular formula C3H7OH. It is a volatile liquid chemical that is colourless, combustible, and has a strong odour and harsh taste. Despite being miscible with water, a few other alcohols, including ether and chloroform, isopropyl alcohol are insoluble in salt solutions. It is mostly utilized as a solvent in the production of essential oils, resins, alkaloids, gums, cellulose, and coatings. It is also employed as a de-icing agent in the production of liquid fuels, lacquers, and extraction operations, as well as an antiseptic in anti-freeze compositions. Isopropyl alcohol is used to make glycerol, shellacs, quick-drying inks, isopropyl acetate, and creosote.

COVID-19 Impact Analysis
Isopropyl alcohol is used in the making of sanitizers and other cleaning products. The demand for sanitizers upsurged all across the globe. As a result, the global isopropyl alcohol market witnessed various growth opportunities.

Regional Analysis
On the basis of region, Asia-Pacific is forecast to hold the highest share in the isopropyl alcohol market. The growth of the market is attributed to the factors like rising funding in the chemical industry and rapidly growing demand for cosmetic products. In addition, the large pharmaceuticals sector and increasing R&D are expected to bring untapped growth opportunities for the market.
Isopropyl alcohol is extensively used in the personal care sector. Because of Western culture's influence, personal care and cosmetic product demand are also growing quickly throughout the region. Teenagers are using more cosmetics, which is expected to be opportunistic for the market.

Factors Influencing the Market
The wide applications of isopropyl alcohol in personal care, medical, chemicals, and other sectors will primarily fuel the growth of the isopropyl alcohol market. Apart from that, isopropyl alcohol finds applications in a variety of downstream sectors, including paint & coatings, printing, automotive, etc. In addition to that, rising investments in the sector will also contribute to the growth of the isopropyl alcohol market during the study period.
Isopropyl alcohol is also used in purifying and extracting natural goods, including animal and vegetable oils, waxes, resins, flavourings, fats, etc. The growing demand for these goods will propel the isopropyl alcohol market forward. On the flip side, drawbacks like high energy costs and the corrosive nature of isopropyl alcohol may limit the market growth during the forecast period.

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Competitors in the Market
• Royal Dutch Shell PLC
• LG Chem
• Exxon Mobil Corporation
• LyondellBasell Industries Holdings BV
• Avantor
• Denoir Ultra-Pure
• DongYing Naire Technology
• Guangfu Fine Chemicals
• Huate Gas
• OM group
• Tokuyama Corporation
• Linde
• Puritan Products
• Other Prominent Players

The report furnishes an intricate comprehension of each segment, delivering potential estimations for principal applications and insights into emerging prospects. Every regional market is meticulously scrutinized to ascertain its potential for growth, development, and demand in the forthcoming years.

As of the end of 2022, the Isopropyl Alcohol industry experienced notable growth in its workforce. Starting in January, employment within the Isopropyl Alcohol sector exceeded its pre-COVID levels, resulting in an expansion of payrolls by over 15,000 employees throughout the course of the year. The global Isopropyl Alcohol output demonstrated a remarkable increase of 5.2% during 2021, primarily attributed to a widespread economic upswing and a surge in demand for commodities. However, the momentum shifted in 2022, with the global industrial sector's production contracting. This reversal followed a robust expansion in 2021, fueled by altered consumer spending patterns and substantial fiscal support.

Forecasts indicate that the global Isopropyl Alcohol output is set to rise by approximately 2.9% in 2023. This projection is underpinned by the gradual recovery of production in Western Europe from its previous troughs, as well as a rebound in output across the Asia/Pacific region. Maintaining its dominant position, China, accounting for nearly 45% of the global Isopropyl Alcohol market, remains both its largest producer and consumer. Remarkably, China's market share has surged since 2010, when it stood at around 26%. This ascent has led to a substantial contribution to the nation's GDP. Notably excelling as a top exporter, China leads in various sectors, including silicon, PVC, and several specific segments of the Isopropyl Alcohol market.

Market Segmentation
The global isopropyl alcohol market segmentation focuses on End-Use, Production, Application, and Region.
By End-Use Industries Outlook
• Cosmetics and Personal Care
• Pharmaceutical
• Electronics
• Paints and Coatings
• Chemicals
• Other End-user Industries

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By Production Method Outlook
• Indirect Hydration
• Direct Hydration
By Application Outlook
• Process and Preparation Solvent
• Cleaning and Drying Agent
• Coating and Dye Solvent
• Intermediate
• Other Applications
By Region
● North America
o The U.S.
o Canada
o Mexico
● Europe
▪ Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
▪ Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America

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Table of Contents:

Chapter 1: Introduction to the Global Isopropyl Alcohol Industry

Chapter 3: Dynamics of the Market

Chapter 4: Profiles of Leading Companies

Chapter 5: Competition in the Global Isopropyl Alcohol Market among Players

Chapter 6: Market Size across Global Regions

Chapter 7: Application Segments in the Global Market

Chapter 8: Segment Analysis of the Global Isopropyl Alcohol Industry

Chapter 9: Market Chain, Sourcing Strategies, and Downstream Buyers

Chapter 10: Strategies and Key Policies by Distributors/Suppliers/Traders

Chapter 11: In-depth Analysis of Key Marketing Strategies by Market Vendors

Chapter 12: Evaluation of Market Impact Factors

Chapter 13: Forecasted Global Isopropyl Alcohol Market Size (2023-2031)

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