The global isopropyl alcohol market is poised for significant growth over the next several years, driven by increasing demand across various sectors such as healthcare, cosmetics, and electronics. This report provides an in-depth analysis of the market trends, drivers, challenges, and projections for the period from 2025 to 2032.
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As of 2024, the global isopropyl alcohol market size was valued at approximately $4.87 billion2. However, different sources provide varying estimates for the market size in recent years. For instance, some reports indicate a market size of $3.50 billion in 2023, while others suggest it was around $6.3 billion. Despite these discrepancies, the market is expected to grow substantially over the forecast period.
The projected Compound Annual Growth Rate (CAGR) for the isopropyl alcohol market varies across reports. Some studies suggest a CAGR of 4.3% from 2025 to 20342, while others indicate a higher growth rate, such as 7.5% from 2025 to 2033. For the specific period of 2025 to 2032, a CAGR of around 7.16% is a reasonable estimate based on available data7.
Increasing Demand for Disinfectants and Sanitizers: The COVID-19 pandemic has heightened awareness of hygiene and sanitation, leading to increased demand for isopropyl alcohol-based disinfectants and sanitizers.
Cosmetics and Personal Care Industry: Isopropyl alcohol is widely used in the cosmetics industry as a solvent and preservative, contributing to market growth.
Pharmaceutical Sector: The pharmaceutical industry's reliance on isopropyl alcohol for manufacturing processes also drives demand.
Electronics and Paints & Coatings: Growing demand from the electronics and paints & coatings sectors further supports market expansion.
Regulatory Scrutiny: Stringent regulations regarding production, handling, and disposal pose challenges for manufacturers.
Environmental Concerns: Isopropyl alcohol is classified as a volatile organic compound (VOC), prompting efforts to develop more environmentally friendly alternatives.
Health Risks: Exposure to isopropyl alcohol can lead to health issues, necessitating safer handling practices5.
Asia Pacific: This region is expected to dominate the market due to a high concentration of end-users and growing demand in China, particularly in the cosmetics and pharmaceutical sectors.
North America: North America holds a significant market share, driven by the pharmaceutical and healthcare industries in the United States and Canada.
Europe and Other Regions: These regions also contribute to the market growth, albeit at varying rates compared to Asia Pacific and North America.
The isopropyl alcohol market is highly fragmented, with major players including:
Dow Chemical
Mistral Industrial Chemicals
INEOS Corporation
ReAgent Chemicals Ltd.
LyondellBasell Industries
Linde Gas
Ecolab
Royal Dutch Shell
ExxonMobil Corporation