Isopropyl Alcohol Market to Record 10% CAGR Growth Through 2029 | Global Analysis Report

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Isopropyl Alcohol Market Outlook: How is the Market Expected to Grow by 2025?
In recent years, the isopropyl alcohol market has experienced robust growth. Its current value of $4.85 billion in 2024 is projected to increase to $5.17 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.7%. Factors contributing to this growth during the historic period include its application as an industrial solvent, increased demand for disinfectants and sanitizers, use as a chemical intermediate, cleaning applications, and utilization in the medical and healthcare sectors.

Isopropyl Alcohol Market Forecast: What Size Will It Reach By 2029?
Expectations predict a robust expansion of the isopropyl alcohol market in the approaching years, with a projected valuation reaching $7.57 billion in 2029 and a compound annual growth rate (CAGR) of 10.0%. This projected growth during the forecast period can be credited to factors like pandemic readiness and crisis management, environmental considerations, sustainable practices, raw material availability and pricing, and increasing concerns for consumer health and safety as well as global industrial growth. Notable trends foreseen within this period include preparations for emergencies, changes in consumer product formulation, shifts in supply chain dynamics, the emergence of environmentally-friendly substitutes, and a shift in consumer preferences towards health and safety.

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Which Key Market Drivers Will Shape Isopropyl Alcohol Industry Trends in 2025-2029?
The increasing consumption of personal grooming and cosmetic products is anticipated to drive the expansion of the isopropyl alcohol market. Personal grooming and cosmetic items entail any product used on the body's exterior for both aesthetic and essential grooming purposes, including cleaning, germ protection, odor prevention, appearance modification, and maintaining overall body health. Isopropyl alcohol finds utility in an array of these products like aftershave lotions, bath items, products for eye, nail and hair care, skincare items, and other cosmetics. The reasons for its usage range from being an antifoaming agent, to a cosmetic astringent, a solvent, or a viscosity reducing agent. In July 2024, as per a report by the British Beauty Council, a UK entity, it was noted that the personal grooming industry added £27.2 billion ($30.44 billion) to the GDP in 2023, a rise of 11% compared to 2022. Thus, this surge in the use of grooming and cosmetic products is spurring the growth of the isopropyl alcohol market.

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What Are the High-Growth Segments in the Isopropyl Alcohol Market?
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

Which Global Trends Are Driving Isopropyl Alcohol Market Expansion?
Product evolution and advancement is a noteworthy trend that is growing in prominence in the isopropyl alcohol industry. Major industry players are focusing their efforts on research and development to introduce new product innovations, aiming to maintain their market standing. As an example, Eastman Chemical Company, an American chemical industry organization, unveiled their new product, EastaPure IPA, in August 2024. This newly introduced electronic-grade solvent is specialized to offer superior quality to the electronics field. The solvent provides exceptional purity and performance, specifically designed to meet the rigorous requirements of electronics manufacturing. By providing high reliability and minimal contaminant levels, Eastman's product is aimed to enhance the effectiveness and quality of semiconductor and display manufacturing, answering the increasing demand for high-end materials in this sector.

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Who Are the Fastest-Growing Companies in the Isopropyl Alcohol Industry?
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.

What Is the Regional Outlook for the Isopropyl Alcohol Market by 2029?
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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