Press release
Isopropyl Alcohol Market Expansion Continues, with Forecast Valuation of $7.78 Billion by 2029
Isopropyl Alcohol
Isopropyl Alcohol Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The scale of the isopropyl alcohol market has significantly expanded in the previous years. It is projected to increase from a value of $4.85 billion in 2024 to a worth of $5.24 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 8.1%. The growth during the historic period can be ascribed to its application in industries as a solvent, its heightened demand as a disinfectant and sanitizer, its role as a chemical intermediate, utilization in cleaning operations, and its extensive usage in the medical and healthcare sector.
Isopropyl Alcohol Market Size Forecast: What's the Projected Valuation by 2029?
The market for isopropyl alcohol is anticipated to experience swift expansion in the coming years, escalating to $7.79 billion in 2029 with a compound annual growth rate (CAGR) of 10.4%. The anticipated growth during the forecast period is ascribed to factors such as preparedness for pandemics and management of crises, emphasis on environmental factors and sustainable processes, availability and pricing of raw materials, considerations for consumer health and safety, and worldwide industrial development. Key trends projected for the forecast period incorporate: readiness for emergency responses, formulating consumer products, dynamics of supply chain, eco-friendly alternatives, and consumer inclination towards health and safety.
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What Are the Drivers Transforming the Isopropyl Alcohol Market?
The escalating demand for personal care and cosmetic items is projected to stimulate the expansion of the isopropyl alcohol market in the future. These products are typically topically applied to enhance beauty and basic hygiene. This encompasses cleaning of body parts, guarding against germs, warding off unpleasant smells, modifying appearance, and maintaining healthy body parts. Owing to their various roles including acting as antifoaming agents, cosmetic astringents, solvents, and viscosity reduction agents, isopropyl alcohol is commonly found in a variety of personal care and cosmetic items like aftershave lotions, bath products, eye, nail, hair, skincare products and other make-up products. For example, a report released by the British Beauty Council, based in the UK, pointed out that the personal care industry added £27.2 billion ($30.44 billion) to the GDP in 2023, reflecting an 11% increase relative to 2022. This surge in the use of personal care and cosmetic items, therefore, is propelling the expansion of the isopropyl alcohol market.
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What Long-Term Trends Will Define the Future of the Isopropyl Alcohol Market?
The isopropyl alcohol market is experiencing a surge in popularity due to a major trend towards product innovation. Large corporations in the market are dedicating resources to research and development in order to offer innovative products and maintain their market standing. For example, Eastman Chemical Company, a chemical industry firm based in the US, introduced EastaPure IPA in August 2024. This novel electronic grade solvent aims to provide superior quality to the electronics industry. With its outstanding purity and performance, it is customized to meet the stringent requirements of electronics manufacturing. By offering high reliability and minimal contaminants, Eastman's product is engineered to enhance the efficiency and quality of semiconductor and display production, catering to the growing demand for advanced materials in this field.
Which Segments in the Isopropyl Alcohol Market Offer the Most Profit Potential?
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 Firms Dominate the Isopropyl Alcohol Market by Market Share and Revenue in 2025?
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.
Which Regions Offer the Highest Growth Potential in 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.
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