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Isopropyl Alcohol Market

Global Isopropyl Alcohol Market Size, Share, Forecast: By Application: Process Solvent, Cleaning Agent, Intermediate, Coating Solvent, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Value Chain Analysis; Competitive Landscape; 2024-2032

Global Isopropyl Alcohol Market Outlook

The global isopropyl alcohol market reached a value of  USD 4.67 billion in 2023. The market is further expected to grow at a CAGR of 4.3% in the forecast period of 2024-2032 to attain USD 6.82 billion by 2032.

 

Isopropyl Alcohol Market

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Increased Demand to Prepare Personal Care Products to Support the Market Growth of Isopropyl Alcohol

The market is being driven by the increased usage of isopropyl alcohol in the production of personal care products and cosmetics. Isopropyl alcohol is used in the production of skincare products, makeup, bath products, haircare products, and eyecare products, among others. It is used as a solvent, cosmetic astringent, viscosity decreasing agent, and anti-foaming agent. The growing demand for cosmetic and personal care products, fuelled by the growing focus of consumers on personal care and hygiene, is anticipated to support the market growth in the forecast period. Meanwhile, the rising demand for isopropyl alcohol in the healthcare sector is expected to supplement the market growth in the coming years. Isopropyl alcohol finds extensive usage in the production of hand wash, surgical hand scrubs, and antiseptic skin preparations, among others.

 

The Asia Pacific to Provide Significant Opportunities for the Market Expansion of Isopropyl Alcohol

The market in the Asia Pacific is expected to witness a significant growth in the forecast period. This can be attributed to the increased application of isopropyl alcohol in the construction sector to produce adhesives and sealants, lubricants, paints and paint additives, and pigments, among others. This trend is further expected to be aided by the growing government expenditure on infrastructure development activities, fuelled by the rising population in the region. In addition, the rapid expansion of healthcare facilities in the region is also anticipated to supplement the demand for isopropyl alcohol-based cleaning and antiseptic solutions. Meanwhile, North America is anticipated to witness a considerable growth in the forecast period, with the heightened demand for safety and hygiene products in the region, which utilise isopropyl alcohol-based solvents.

 

Isopropyl Alcohol Market Segmentation

Isopropyl alcohol is a volatile, flammable, clear and colourless liquid with disinfectant properties. Although it mixes with water, other alcohols, ether and chloroform but it is insoluble in salt solutions. It is also known as rubbing alcohol and finds extensive applications in the manufacturing of solvents.

 

Isopropyl Alcohol Market by Segments

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By application, the market is divided into:

  • Process Solvent 
  • Cleaning Agent
  • Intermediate 
  • Coating Solvent
  • Others

The report also covers the regional markets like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Isopropyl Alcohol Market by Region

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Heightened Demand in the Healthcare Sector and the Diverse End Use Applications to Augment the Market Growth of Isopropyl Alcohol

Isopropyl alcohol is registered as an antimicrobial, bactericide, fungicide, and virucide. The heightened demand for cleaning solutions and disinfectants in the healthcare sector is driving the market growth of isopropyl alcohol. Isopropyl alcohol is used in combination with ethyl alcohol or N-propyl alcohol in disinfectants, which include hand sanitisers, surface cleaners, and clinical instrument cleaners. The demand for isopropyl alcohol is currently growing more in the developing countries due to the growing hygiene awareness among individuals across the region, which is driving the demand for surface cleaning and personal hygiene products. In 2020, amid the COVID-19 outbreak, the demand for hygiene products surged, which, in turn, resulted in the increased production of isopropyl alcohol. For instance, in April 2020, ExxonMobil announced the increased production of raw materials for medical masks, hand sanitisers, and gowns. In this regard, the monthly production of isopropyl alcohol was increased by up to 3,000 tonnes to produce around 50 million bottles of hand sanitisers to meet the growing needs.

Further, the market for isopropyl alcohol is anticipated to be supported by the demand for isopropyl in solvent applications. It is used as a solvent for essential oils, alkaloids, gums, resins, coatings and cellulose, lacquers, and in extraction processes. It is also used as an inert solvent to reduce the flammability of coatings during storage and transportation, and as an additive in inks and thinner for water-based paints. These factors are anticipated to bolster the demand for isopropyl alcohol in the coming years.

 

Key Players in the Global Isopropyl Alcohol Market

The report gives a detailed analysis of the following key players in the global isopropyl alcohol market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Royal Dutch Shell plc
  • The Dow Chemical Company
  • Exxon Mobil Corporation
  • Sasol Limited
  • Chang Chun Group
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Application
  • Region
Breakup by Application
  • Process Solvent
  • Cleaning Agent
  • Intermediate
  • Coating Solvent
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Royal Dutch Shell plc
  • The Dow Chemical Company
  • Exxon Mobil Corporation
  • Sasol Limited
  • Chang Chun Group
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Isopropyl Alcohol Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Isopropyl Alcohol Historical Market (2018-2023) 
    8.3    Global Isopropyl Alcohol Market Forecast (2024-2032)
    8.4    Global Isopropyl Alcohol Market by Application
        8.4.1    Process Solvent
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2023)
            8.4.1.3    Forecast Trend (2024-2032)
        8.4.2    Cleaning Agent
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2023)
            8.4.2.3    Forecast Trend (2024-2032)
        8.4.3    Intermediate
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2018-2023)
            8.4.3.3    Forecast Trend (2024-2032)
        8.4.4    Coating Solvent
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2018-2023)
            8.4.4.3    Forecast Trend (2024-2032)
        8.4.5    Others
    8.5    Global Isopropyl Alcohol Market by Region
        8.5.1    Market Share
            8.5.1.1    North America
            8.5.1.2    Europe
            8.5.1.3    Asia Pacific
            8.5.1.4    Latin America
            8.5.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2018-2023)
        9.1.2    Forecast Trend (2024-2032)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2018-2023)
        9.2.2    Forecast Trend (2024-2032)
        9.2.3    Breakup by Country
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2018-2023)
        9.3.2    Forecast Trend (2024-2032)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2018-2023)
        9.4.2    Forecast Trend (2024-2032)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2018-2023)
        9.5.2    Forecast Trend (2024-2032)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Value Chain Analysis
12    Trade Data Analysis (HS Code: 290512)

    12.1    Major Exporting Countries:
        12.1.1    By Value
        12.1.2    By Volume
    12.2    Major Importing Countries
        12.2.1    By Value
        12.2.2    By Volume
13    Price Analysis
    13.1    North America Historical Price Trends (2018-2023) and Forecast (2024-2032)
    13.2    Europe Historical Price Trends (2018-2023) and Forecast (2024-2032)
    13.3    Asia Pacific Historical Price Trends (2018-2023) and Forecast (2024-2032)
    13.4    Latin America Historical Price Trends (2018-2023) and Forecast (2024-2032)
    13.5    Middle East and Africa Historical Price Trends (2018-2023) and Forecast (2024-2032)
14    Competitive Landscape
    14.1    Market Structure
    14.2    Company Profiles
        14.2.1    Royal Dutch Shell plc
            14.2.1.1    Company Overview
            14.2.1.2    Product Portfolio
            14.2.1.3    Demographic Reach and Achievements
            14.2.1.4    Certifications
        14.2.2    The Dow Chemical Company
            14.2.2.1    Company Overview
            14.2.2.2    Product Portfolio
            14.2.2.3    Demographic Reach and Achievements
            14.2.2.4    Certifications
        14.2.3    Exxon Mobil Corporation
            14.2.3.1    Company Overview
            14.2.3.2    Product Portfolio
            14.2.3.3    Demographic Reach and Achievements
            14.2.3.4    Certifications
        14.2.4    Sasol Limited
            14.2.4.1    Company Overview
            14.2.4.2    Product Portfolio
            14.2.4.3    Demographic Reach and Achievements
            14.2.4.4    Certifications
        14.2.5    Chang Chun Group
            14.2.5.1    Company Overview
            14.2.5.2    Product Portfolio
            14.2.5.3    Demographic Reach and Achievements
            14.2.5.4    Certifications
        14.2.6    Others
15    Industry Events and Developments


Additional Customisations Available

1    Manufacturing Process
    1.1    Overview
    1.2    Detailed Process Flow
    1.3    Operation Involved
2    Project Requirement and Cost Analysis
    2.1    Land, Location and Site Development
    2.2    Construction
    2.3    Plant Machinery
    2.4    Cost of Raw Material
    2.5    Packaging
    2.6    Transportation
    2.7    Utilities
    2.8    Manpower
    2.9    Other Capital Investment


List of Key Figures and Tables
1.    Global Isopropyl Alcohol Market: Key Industry Highlights, 2018 and 2032
2.    Global Isopropyl Alcohol Historical Market: Breakup by Application (Million Tons), 2018-2023
3.    Global Isopropyl Alcohol Market Forecast: Breakup by Application (Million Tons), 2024-2032
4.    Global Isopropyl Alcohol Historical Market: Breakup by Region (Million Tons), 2018-2023
5.    Global Isopropyl Alcohol Market Forecast: Breakup by Region (Million Tons), 2024-2032
6.    North America Isopropyl Alcohol Historical Market: Breakup by Country (Million Tons), 2018-2023
7.    North America Isopropyl Alcohol Market Forecast: Breakup by Country (Million Tons), 2024-2032
8.    Europe Isopropyl Alcohol Historical Market: Breakup by Country (Million Tons), 2018-2023
9.    Europe Isopropyl Alcohol Market Forecast: Breakup by Country (Million Tons), 2024-2032
10.    Asia Pacific Isopropyl Alcohol Historical Market: Breakup by Country (Million Tons), 2018-2023
11.    Asia Pacific Isopropyl Alcohol Market Forecast: Breakup by Country (Million Tons), 2024-2032
12.    Latin America Isopropyl Alcohol Historical Market: Breakup by Country (Million Tons), 2018-2023
13.    Latin America Isopropyl Alcohol Market Forecast: Breakup by Country (Million Tons), 2024-2032
14.    Middle East and Africa Isopropyl Alcohol Historical Market: Breakup by Country (Million Tons), 2018-2023
15.    Middle East and Africa Isopropyl Alcohol Market Forecast: Breakup by Country (Million Tons), 2024-2032
16.    Major Exporting Countries by Value
17.    Major Importing Countries by Value
18.    Major Exporting Countries by Volume
19.    Major Importing Countries by Volume
20.    North America Historical Price Trends and Forecast 2018-2028
21.    Europe Historical Price Trends and Forecast 2018-2028
22.    Asia Pacific Historical Price Trends and Forecast 2018-2028
23.    Latin America Historical Price Trends and Forecast 2018-2028
24.    Middle East and Africa Historical Price Trends and Forecast 2018-2028
25.    Global Isopropyl Alcohol Market Structure

Key Questions Answered in the Report

The major drivers of the market include the growing economy, growing hygiene awareness, existing downstream specialty chemical marketspace, increasing healthcare facilities, thriving cosmetics and personal care industry, elevating income levels, and technological advancements.

The growing demand in pharmaceutical and solvent applications and utilisation of isopropyl alcohol in the formulation of  sanitisers are the key industry trends propelling the market's growth.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The major applications include process solvent, cleaning agent, intermediate, and coating solvent, among others.

The major players in the industry are Royal Dutch Shell plc, The Dow Chemical Company, Exxon Mobil Corporation, Sasol Limited, and Chang Chun Group, among others.

Analyst Review

The global isopropyl alcohol market was driven by the growing demand in pharmaceutical and solvent applications. Aided by the growing hygiene awareness and thriving cosmetics and personal care industry, the market is expected to grow at a CAGR of 4.3% in the forecast period of 2024-2032.

EMR's meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. The major applications include process solvent, cleaning agent, intermediate, and coating solvent, among others. The major regional markets for the isopropyl alcohol market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The major players in the industry are Royal Dutch Shell plc, The Dow Chemical Company, Exxon Mobil Corporation, Sasol Limited, and Chang Chun Group, among others.

EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.

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