Isopropyl Alcohol Market Report 2026

The isopropyl alcohol market size has grown rapidly in recent years. It will grow from $5.17 billion in 2025 to $5.69 billion in 2026 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to expansion of pharmaceutical manufacturing, growth of cosmetics and personal care industries, rising demand for disinfectants, increased use in industrial cleaning, availability of propylene-based production processes.

The isopropyl alcohol market size is expected to see strong growth in the next few years. It will grow to $8.3 billion in 2030 at a compound annual growth rate (CAGR) of 9.9%. The growth in the forecast period can be attributed to increasing investments in healthcare infrastructure, rising demand for sanitization products, expansion of specialty chemical manufacturing, growing focus on sustainable solvent production, increasing adoption in electronics cleaning applications. Major trends in the forecast period include increasing demand for pharmaceutical-grade ipa, rising use in personal care and hygiene products, growing adoption as industrial cleaning solvent, expansion of chemical intermediate applications, enhanced focus on high-purity grades.

The rising use of personal care and cosmetic products is expected to drive the growth of the isopropyl alcohol market. Personal care and cosmetic products include items applied to the body for grooming, hygiene, and beautification, such as cleaning products, aftershaves, skincare, haircare, nail care, and makeup. Isopropyl alcohol serves multiple functions in these products, including acting as a solvent, antifoaming agent, astringent, and viscosity reducer. For instance, in July 2024, according to the British Beauty Council, a UK-based organization, the personal care sector contributed £27.2 billion ($30.44 billion) to the GDP in 2023, an 11% increase from 2022. Therefore, the growing usage of personal care and cosmetic products is propelling the isopropyl alcohol market.

Product innovation is a significant trend gaining traction in the isopropyl alcohol market. Key players in the industry are concentrating on research and development to introduce innovative products that help them maintain their competitive edge. For example, in August 2024, Eastman Chemical Company, a US-based chemical manufacturer, unveiled EastaPure IPA. This new electronic-grade solvent is specifically designed to provide superior quality for the electronics sector. It features exceptional purity and performance, tailored to meet the rigorous standards of electronics manufacturing. By ensuring high reliability and minimizing contaminant levels, Eastman's product aims to enhance the efficiency and quality of semiconductor and display production, addressing the growing demand for advanced materials in the industry.

In May 2023, In a significant business move, Xinjiang Tianye acquired Tianchen Chemical to optimize their industrial chain and enhance their business structure. This acquisition aligns with Tianyang Group's commitment to industry development and aims to bolster Xinjiang Tianye's standing in the capital market. The acquisition, undisclosed in amount, seeks to coordinate recycling industrial chains and foster healthy business growth.

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.

Asia-Pacific was the largest region in the isopropyl alcohol market in 2025 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, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the isopropyl alcohol market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The isopropyl alcohol market consists of sales of technical grade, medical grade (USP), and spectrophotometric grade (ACS) isopropyl alcohol. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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