Isopropyl Alcohol Market Size, Share, and Growth Analysis, By Purity Level, By Application, By End User, By Production Method, By Region - Industry Forecast 2025-2032
China Petroleum & Chemical Corporation(Sinopec)(China)
Deepak Fertilisers and Petrochemicals Corporation Ltd.(DFPCL)(India)
Avantor, Inc.(USA)
Linde plc(UK)
Ecolab Inc.(USA)
Eastman Chemical Company(USA)
SK geo centric(South Korea)
Jiande Xinhua Chemical(China)
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Global Isopropyl Alcohol Market size was valued at USD 3.1 billion in 2023 and is poised to grow from USD 3.28 billion in 2024 to USD 5.11 billion by 2032, growing at a CAGR of 5.7% during the forecast period (2025-2032).
The global isopropyl alcohol (IPA) market is experiencing robust growth, fueled by its diverse applications in pharmaceuticals, electronics, personal care, and industrial cleaning. High-purity solvents are increasingly sought after within manufacturing and healthcare industries, driving market evolution. The Asia-Pacific region, particularly India and China, stands out as a significant production and consumption center, supported by expanding pharmaceutical and electronics sectors. Companies are strategically enhancing capacities to meet growing domestic and export needs for pharmaceutical-grade IPA, reflecting a shift towards localized supply chains. Concurrently, the focus on sustainability is prompting exploration of bio-based IPA, while advancements in digital innovation and automation are improving manufacturing efficiency. This intersection of innovation and sustainability positions the IPA market for transformative growth and opportunity.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Isopropyl Alcohol market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Isopropyl Alcohol Market Segments Analysis
Global Isopropyl Alcohol Market is segmented by Purity Level, Application, End User, Production Method and region. Based on Purity Level, the market is segmented into Technical Grade, Pharmaceutical Grade, Cosmetic Grade and Others. Based on Application, the market is segmented into Process and Preparation Solvent, Cleaning and Drying Agent, Coating and Dye Solvent, Intermediate and Others. Based on End User, the market is segmented into Cosmetic and Personal Care, Pharmaceutical, Electronics, Paints and Coatings, Chemicals and Others. Based on Production Method, the market is segmented into Indirect Hydration and Direct Hydration. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Driver of the Global Isopropyl Alcohol Market
The Global Isopropyl Alcohol market is significantly influenced by the pharmaceutical industry, where it serves a vital function as both a solvent and disinfectant. Its essential role in drug formulation, sanitization, and the sterilization of medical equipment cannot be overstated. As the world increasingly prioritizes advancements in healthcare infrastructure and the enhancement of hygiene protocols, there has been a remarkable rise in the demand for isopropyl alcohol within pharmaceutical production and hospital sanitation. This growing emphasis on health and safety standards continues to propel the market, highlighting the indispensable nature of IPA in these sectors.
Restraints in the Global Isopropyl Alcohol Market
The global isopropyl alcohol market faces significant restraints due to its designation as a volatile organic compound (VOC). Prolonged exposure to isopropyl alcohol can result in negative health effects, including headaches, respiratory issues, and skin irritations, particularly in poorly ventilated environments or without adequate protective equipment. Moreover, the environmental impact associated with emissions during the manufacturing and disposal processes has led to stricter regulations enforced by organizations such as the EPA in the U.S. and ECHA in Europe. As a result of these safety and environmental concerns, many end-users are increasingly seeking more eco-friendly alternatives, which could limit the applications of isopropyl alcohol.
Market Trends of the Global Isopropyl Alcohol Market
The global isopropyl alcohol (IPA) market is witnessing a significant shift towards bio-based production methods, driven by a growing emphasis on sustainability in the chemical industry. Companies are increasingly investing in renewable sources like sugarcane and corn starch to manufacture bio-IPA, thereby reducing reliance on fossil fuels and minimizing volatile organic compound (VOC) emissions. Innovators like LanzaTech and Green Biologics are leading the way with fermentation-based processes. Regulatory pressures from environmental authorities and heightened consumer awareness are amplifying this trend, particularly in North America and Europe, as stakeholders seek to align with eco-friendly practices and enhance their market competitiveness.
Table of Contents
Introduction
Objectives of the Study
Scope of the Report
Definitions
Research Methodology
Information Procurement
Secondary & Primary Data Methods
Market Size Estimation
Market Assumptions & Limitations
Executive Summary
Global Market Outlook
Supply & Demand Trend Analysis
Segmental Opportunity Analysis
Market Dynamics & Outlook
Market Overview
Market Size
Market Dynamics
Drivers & Opportunities
Restraints & Challenges
Porters Analysis
Competitive rivalry
Threat of substitute
Bargaining power of buyers
Threat of new entrants
Bargaining power of suppliers
Key Market Insights
Key Success Factors
Degree of Competition
Top Investment Pockets
Market Ecosystem
Market Attractiveness Index, 2024
PESTEL Analysis
Macro-Economic Indicators
Value Chain Analysis
Pricing Analysis
Global Isopropyl Alcohol Market Size by Purity Level & CAGR (2025-2032)
Market Overview
Technical Grade
Pharmaceutical Grade
Cosmetic Grade
Others
Global Isopropyl Alcohol Market Size by Application & CAGR (2025-2032)
Market Overview
Process and Preparation Solvent
Cleaning and Drying Agent
Coating and Dye Solvent
Intermediate
Others
Global Isopropyl Alcohol Market Size by End User & CAGR (2025-2032)
Market Overview
Cosmetic and Personal Care
Pharmaceutical
Electronics
Paints and Coatings
Chemicals
Others
Global Isopropyl Alcohol Market Size by Production Method & CAGR (2025-2032)
Market Overview
Indirect Hydration
Direct Hydration
Global Isopropyl Alcohol Market Size & CAGR (2025-2032)
North America (Purity Level, Application, End User, Production Method)
US
Canada
Europe (Purity Level, Application, End User, Production Method)
Germany
Spain
France
UK
Italy
Rest of Europe
Asia Pacific (Purity Level, Application, End User, Production Method)
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America (Purity Level, Application, End User, Production Method)
Brazil
Rest of Latin America
Middle East & Africa (Purity Level, Application, End User, Production Method)
GCC Countries
South Africa
Rest of Middle East & Africa
Competitive Intelligence
Top 5 Player Comparison
Market Positioning of Key Players, 2024
Strategies Adopted by Key Market Players
Recent Developments in the Market
Company Market Share Analysis, 2024
Company Profiles of All Key Players
Company Details
Product Portfolio Analysis
Company's Segmental Share Analysis
Revenue Y-O-Y Comparison (2022-2024)
Key Company Profiles
ExxonMobil Corporation (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Dow Inc. (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Shell plc (UK)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
INEOS Group Limited (UK)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
LyondellBasell Industries Holdings B.V. (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
BASF SE (Germany)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
LG Chem Ltd. (South Korea)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Mitsui Chemicals Inc. (Japan)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Tokuyama Corporation (Japan)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
China Petroleum & Chemical Corporation (Sinopec) (China)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Deepak Fertilisers and Petrochemicals Corporation Ltd. (DFPCL) (India)