Press release
Isopropyl Alcohol Market Forecast 2025-2034: Evaluating Growth Factors, Segments, and Emerging Trends
Isopropyl Alcohol Market
The isopropyl alcohol market is anticipated to grow with the increasing demand for personal care and cosmetic products. These personal care and cosmetics range from products applied externally to the body for grooming, enhancing beauty, protection against germs, controlling body odor, altering appearance and maintaining overall physical health. Isopropyl alcohol, due to its qualities like antifoaming, cosmetic astringent, solvent, and viscosity reducing properties is extensively utilized in a plethora of personal care items and makeup products such as aftershaves, bathing essentials, eye-care, nail care, hair and skin care merchandise along with other cosmetics. As an illustration, the British Beauty Council, a UK-based group, reported that the nation's personal care sector added £27.2 billion ($30.44 billion) to the GDP in 2023, witnessing an elevation of 11% contrasted to 2022. Consequently, the increased consumption of personal care items and cosmetics is fuelling the expansion of the isopropyl alcohol market.
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What is the projected compound annual growth rate (CAGR) of the isopropyl alcohol market from 2025 to 2034, and what factors influence it?
The isopropyl alcohol market has seen robust growth in the recent past. The market value is projected to increase from $4.85 billion in 2024 to $5.24 billion in 2025, following a compound annual growth rate (CAGR) of 8.1%. This growth during the historic period was driven by the use of isopropyl alcohol as an industrial solvent, the demand for disinfectants and sanitizers, its application as a chemical intermediate and in cleaning, and its utilization in the medical and healthcare sectors.
Anticipations for swift expansion in the size of the isopropyl alcohol market are high for the upcoming years. The market is projected to escalate to $7.79 billion in 2029, boasting a compound annual growth rate (CAGR) of 10.4%. This growth during the predicted period is credited to factors such as preparedness for pandemics and crisis management, environmental concerns and sustainable practices, the availability and cost of raw materials, consumer health and safety worries, and worldwide industrial growth. The forecast period will also witness major trends such as readiness for emergency response, formulation of consumer products, dynamics of the supply chain, environment-friendly substitutes, and consumer preferences concerning health and safety.
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How are the latest trends influencing the growth of the isopropyl alcohol market?
The rise of product innovation is a growing trend in the isopropyl alcohol market. The leading firms in the market are investing heavily in research and development for the creation of innovative products to maintain their market status. Take for example Eastman Chemical Company, a leading chemical industry player from the US, which introduced EastaPure IPA, its new electronic-grade solvent, in August 2024. Developed with an aim to bring a superior quality to the electronics industry, this solvent delivers excellent purity and performance, designed to cater to the strict requirements of the electronics manufacturing process. Eastman's product, with its emphasis on high reliability and minimal contaminants, aims to enhance the productivity and quality of semiconductor and screen production, addressing the rising demand for sophisticated materials in the industry.
What are the major segments of the isopropyl alcohol market and their role in driving growth?
The isopropyl alcohol market covered in this report is segmented -
1) By Grade: 70% IPA, 90% IPA
2) By Production Method: Indirect Hydration, Direct Hydration
3) By Application: Antiseptic And Astringent, Cleaning Agent, Solvent, Chemical Intermediate, Other Applications
4) By End-Use: Cosmetics And Personal Care, Pharmaceutical, Food And Beverages, Paints And Coatings, Chemical, Other End-Uses
Subsegments:
1) By 70% IPA (Isopropyl Alcohol): Industrial Grade 70% IPA, Pharmaceutical Grade 70% IPA, Cosmetic Grade 70% IPA
2) By 90% IPA (Isopropyl Alcohol): Industrial Grade 90% IPA, Pharmaceutical Grade 90% IPA, Laboratory Grade 90% IPA
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Which regions are key players in the growth of the isopropyl alcohol market?
Asia-Pacific was the largest region in the isopropyl alcohol market in 2024 and is expected to be the fastest-growing region in the forecast period. The regions covered in the isopropyl alcohol market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the isopropyl alcohol market?
Major companies operating in the isopropyl alcohol market are The Dow Chemical Company, INEOS Group Limited, Royal Dutch Shell PLC, ExxonMobil Corporation, LG Chem Ltd., Kellin Chemicals Co. Ltd., LCY Chemical Corp, Zhejiang Xinhua Chemical Co. Ltd., China National Petroleum Corporation, Mitsui Chemicals Inc., ENEOS Corporation, Avantor Inc., Jiangsu Denoir Technology Co. Ltd., Tokuyama Corporation, Mitsubishi Chemical Corporation, Galaxy Chemicals, LyondellBasell Industries Holdings B.V., Carboclor S.A., Sasol Limited, Chang Chun Group, DuPont de Nemours Inc., Mistral Industrial Chemicals, Linde Gas, Ecolab Inc., BASF SE, Honeywell International Inc., ReAgent Chemicals Ltd., Guangfu Fine Chemicals, Petrochemical Corporation of Singapore Private Limited, Fushun Petrochemical Company, Yancheng Super Chemical Technology Co. Ltd.
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What Is Covered In The Isopropyl Alcohol Global Market Report?
• Market Size Forecast: Examine the isopropyl alcohol market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the isopropyl alcohol market for a structured understanding.
• Key Players Overview: Analyze major players in the isopropyl alcohol market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the isopropyl alcohol market.
• Segment Contributions: Evaluate how different segments drive overall growth in the isopropyl alcohol market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the isopropyl alcohol market.
• Industry Challenges: Identify potential risks and obstacles affecting the isopropyl alcohol market.
• Competitive Landscape: Review strategic developments in the isopropyl alcohol market, including expansions, agreements, and new product launches.
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