The global isopropyl alcohol market was valued at $2.7 billion in 2022 and is projected to reach $5.9 billion by 2032, growing at a CAGR of 8.1% from 2023 to 2032.
Isopropyl alcohol, also known as isopropanol or rubbing alcohol, is a colorless, flammable chemical compound with the molecular formula C3H8O. It is a secondary alcohol, meaning that the carbon atom to which the hydroxyl group (-OH) is attached is bonded to two other carbon atoms. Isopropyl alcohol is commonly used as a solvent, disinfectant, and cleaning agent due to its properties.
It has a strong odor and evaporates quickly, making it useful in various applications. Isopropyl alcohol is commonly found in household products such as rubbing alcohol, hand sanitizers, and some cleaning agents. It is further used in the pharmaceutical and cosmetic industries, as well as in laboratories for cleaning and disinfecting surfaces and equipment. In addition, it is used as a fuel additive and in the manufacturing of certain chemicals.
In cosmetic and personal care products like antiseptic wipes or skin cleansers, isopropyl alcohol is used as an antimicrobial agent to disinfect the skin and reduce the risk of infection. It acts as an astringent, helping to tighten and tone the skin. Astringents are often used in skincare products to reduce the appearance of pores and control oiliness. In some oral care products, isopropyl alcohol is used for its antimicrobial properties. Isopropyl alcohol is a key ingredient in many nail polish removers. It effectively dissolves and removes nail polish without damaging the nails. The demand for isopropyl alcohol is increasing rapidly in the cosmetic and personal care industry because of its wide range of applications.
Implementation of stringent environmental regulations and the rise in concerns regarding the impact of chemicals on the environment pose challenges for the isopropyl alcohol market. Compliance with stringent environmental standards requires changes in manufacturing processes, disposal methods, and product formulations. The isopropyl alcohol market faces competition from alternative solvents and cleaning agents that are perceived as more environmentally friendly or safer. The rising environmental regulations and concerns and competition from alternative solvents hamper the growth of the market in the near future.
However, isopropyl alcohol is a common solvent and cleaning agent in laboratories and biomedical research facilities. As research and development activities in the life sciences continue to expand, there is an opportunity for increased demand for isopropyl alcohol in these sectors. The isopropyl alcohol market holds several opportunities within the paints and coatings industry. IPA serves various purposes in this sector due to its properties as a solvent and cleaning agent.
The global isopropyl alcohol market is segmented on the basis of application, end-use industry, and region. By application, the market is segmented into antiseptic & astringent, cleaning agent, solvent, chemical intermediate, and others. Depending on the end-use industry, it is categorized into cosmetics & personal care, pharmaceutical, food & beverage, paints & coatings, chemicals, electronics, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global isopropyl alcohol market are Dow Chemical, Mistral Industrial Chemicals, INEOS Corporation, ReAgent Chemicals Ltd., LyondellBasell Industries, Linde Gas, Ecolab, Royal Dutch Shell, and ExxonMobil Corporation.
Isopropyl alcohol, also known as isopropanol or rubbing alcohol, is a colorless, flammable chemical compound with the molecular formula C3H8O. It is a secondary alcohol, meaning that the carbon atom to which the hydroxyl group (-OH) is attached is bonded to two other carbon atoms. Isopropyl alcohol is commonly used as a solvent, disinfectant, and cleaning agent due to its properties.
It has a strong odor and evaporates quickly, making it useful in various applications. Isopropyl alcohol is commonly found in household products such as rubbing alcohol, hand sanitizers, and some cleaning agents. It is further used in the pharmaceutical and cosmetic industries, as well as in laboratories for cleaning and disinfecting surfaces and equipment. In addition, it is used as a fuel additive and in the manufacturing of certain chemicals.
Several Applications of IPS in the Cosmetic and Personal Care Industry
Isopropyl alcohol has several applications in the cosmetic and personal care industry due to its properties. It is used as a solvent for various cosmetic ingredients, helping to dissolve and blend substances that are insoluble or difficult to mix with other solvents. It serves as a preservative in cosmetic formulations, helping to extend the shelf life of products by preventing the growth of microorganisms. Isopropyl alcohol is a key ingredient in many nail polish removers. It effectively dissolves and removes nail polish without damaging the nails.In cosmetic and personal care products like antiseptic wipes or skin cleansers, isopropyl alcohol is used as an antimicrobial agent to disinfect the skin and reduce the risk of infection. It acts as an astringent, helping to tighten and tone the skin. Astringents are often used in skincare products to reduce the appearance of pores and control oiliness. In some oral care products, isopropyl alcohol is used for its antimicrobial properties. Isopropyl alcohol is a key ingredient in many nail polish removers. It effectively dissolves and removes nail polish without damaging the nails. The demand for isopropyl alcohol is increasing rapidly in the cosmetic and personal care industry because of its wide range of applications.
Implementation of stringent environmental regulations and the rise in concerns regarding the impact of chemicals on the environment pose challenges for the isopropyl alcohol market. Compliance with stringent environmental standards requires changes in manufacturing processes, disposal methods, and product formulations. The isopropyl alcohol market faces competition from alternative solvents and cleaning agents that are perceived as more environmentally friendly or safer. The rising environmental regulations and concerns and competition from alternative solvents hamper the growth of the market in the near future.
However, isopropyl alcohol is a common solvent and cleaning agent in laboratories and biomedical research facilities. As research and development activities in the life sciences continue to expand, there is an opportunity for increased demand for isopropyl alcohol in these sectors. The isopropyl alcohol market holds several opportunities within the paints and coatings industry. IPA serves various purposes in this sector due to its properties as a solvent and cleaning agent.
Paints & Coatings Sector Providing Opportunity for Isopropyl Alcohol Market
Isopropyl alcohol is commonly used for paint stripping and surface preparation, as it helps remove old paint and contaminants from surfaces, providing a clean substrate for new coatings. The demand for effective and environmentally friendly paint stripping solutions presents an opportunity for the market. Furthermore, isopropyl alcohol is effective in cleaning and degreasing surfaces before painting. It helps eliminate oils, greases, and other contaminants that affect the adhesion and durability of paint coatings. As industries seek efficient and reliable cleaning solutions, the for isopropyl alcohol in this application is expected to increase. For instance, the automotive industry relies on coatings for both aesthetic and protective purposes. Isopropyl alcohol is used in the production of coatings for automotive applications, including primers, paints, and clear coats. Thus, the growth of the automotive sector is anticipated to open new avenues for the market in the near future.The global isopropyl alcohol market is segmented on the basis of application, end-use industry, and region. By application, the market is segmented into antiseptic & astringent, cleaning agent, solvent, chemical intermediate, and others. Depending on the end-use industry, it is categorized into cosmetics & personal care, pharmaceutical, food & beverage, paints & coatings, chemicals, electronics, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global isopropyl alcohol market are Dow Chemical, Mistral Industrial Chemicals, INEOS Corporation, ReAgent Chemicals Ltd., LyondellBasell Industries, Linde Gas, Ecolab, Royal Dutch Shell, and ExxonMobil Corporation.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the isopropyl alcohol market analysis from 2022 to 2032 to identify the prevailing isopropyl alcohol market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- An in-depth analysis of the isopropyl alcohol market segmentation assists in determining the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes an analysis of the regional as well as global isopropyl alcohol market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Application
- Antiseptic and Astringent
- Cleaning Agent
- Solvent
- Chemical Intermediate
- Others
By End use industry
- Cosmetic and Personal Care
- Pharmaceutical
- Food and Beverage
- Paints and Coatings
- Chemicals
- Electronics
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Dow Chemical
- LyondellBasell
- Huntsman Company
- Linde Gas
- Ecolab
- ExxonMobil Corporation
- Royal Dutch Shell
- INEOS Group
- Mistral Industrial Chemicals
- ReAgent Chemicals Ltd
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: ISOPROPYL ALCOHOL MARKET, BY APPLICATION
CHAPTER 5: ISOPROPYL ALCOHOL MARKET, BY END USE INDUSTRY
CHAPTER 6: ISOPROPYL ALCOHOL MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- Dow Chemical
- LyondellBasell
- Huntsman Company
- Linde Gas
- Ecolab
- ExxonMobil Corporation
- Royal Dutch Shell
- INEOS Group
- Mistral Industrial Chemicals
- ReAgent Chemicals Ltd
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 250 |
| Published | January 2024 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value ( USD | $ 2.7 billion |
| Forecasted Market Value ( USD | $ 5.9 billion |
| Compound Annual Growth Rate | 8.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
