The Isopropyl Alcohol Market report segments the industry into Application (Process and Preparation Solvent, Cleaning and Drying Agent, Coating and Dye Solvent, Intermediate, Other Applications), End-User Industry (Cosmetics and Personal Care, Healthcare, Electronics, Paints and Coatings, Chemicals, Other End-User Industries), and Geography (Asia-Pacific, North America, Europe, South America, Middle-East and Africa).

The market value of isopropyl alcohol was approximately 4.91 billion U.S. dollars worldwide in 2022. The increase in market value in 2020 and 2021 compared to 2019 was due to the ongoing COVID-19 pandemic, as isopropyl alcohol can be used as a disinfectant. By 2030, the global market value of this compound is expected to grow further, to around 6.73 billion U.S. dollars.

The Isopropyl Alcohol market in North America experienced a sustained upward pricing trend throughout the first quarter of 2025. Strong demand from pharmaceutical, healthcare, and solvent-based industries acted as the primary catalyst for this increase. Consumption levels for sanitization, cleaning, and sterilization applications remained high, contributing to an intensified procurement environment. Export prices continued to climb steadily, especially by March, as overseas demand strengthened, and regional supply-side constraints persisted.

In 2022, the market volume of isopropyl alcohol worldwide amounted to roughly 2.3 million metric tons. It is forecast that the market volume of this organic compound will grow to around 2.88 million metric tons worldwide in the year 2030.

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Isopropyl Alcohol Market Size 2025-2029

The isopropyl alcohol market size is forecast to increase by USD 737.8 million at a CAGR of 4.2% between 2024 and 2029.

The market exhibits growth, driven by its high volume consumption in various industries, including pharmaceuticals, cosmetics, and solvents. The market's expansion is further fueled by capacity expansions and new plant announcements by key players to meet the surging demand. However, the market's growth trajectory is not without challenges. The volatility in crude oil prices significantly impacts the production cost, making it a critical factor to watch. As such, companies must navigate this price volatility to maintain their competitive edge and capitalize on the market's opportunities effectively. The market is witnessing significant growth due to its extensive applications in various industries, particularly in the production of high-purity grades for use in solvents, pharmaceuticals, and personal care products.
In summary, the market presents significant growth potential, underpinned by its diverse applications and capacity expansions. However, market participants must be agile in managing the risks associated with crude oil price fluctuations to maximize their profits and market share. However, the market faces challenges such as volatility in crude oil prices, which impact the production costs.

What will be the Size of the Isopropyl Alcohol Market during the forecast period?

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A versatile solvent plays a significant role in various industries due to its unique properties. In spectrophotometric analysis, it serves as an essential reagent for measuring the absorption of light by substances. Waste minimization is a key trend in usage, with solvent evaporation techniques employed for efficient recovery and reuse. Bioremediation processes utilize in flammability rating reduction and as a solvent for extracting pollutants. Bulk packaging and product development cater to end-use applications, such as electronic components, laboratory reagents, cosmetic ingredients, food processing equipment, and high purity standards in pharmaceuticals and biotechnology research. IPA is a versatile solvent used in numerous applications, including as a raw material in the production of acetone, glycerol, and isopropyl acetate. In the plastics industry, IPA acts as a solvent and a plasticizer
Regulatory approvals and stringent industry standards ensure the antimicrobial properties and virucidal efficacy of in surface disinfection and sterilization techniques. Emerging applications include fungicidal effects, aerospace applications, and microfluidic devices. Technological trends favor material compatibility, bio-based production, and solvent purity testing. Renewable resources and solvent applications contribute to supply chain management and storage and handling. Non-toxic alternatives and sterilization techniques further expand market reach. Industrial solvents, analytical techniques, and antimicrobial properties continue to drive demand. Its role in pharmaceutical formulation, biodegradable materials, and various industries underscores its importance as a valuable industrial commodity. IPA is also used as an astringent in various cosmetics and skincare products. As a chemical intermediate, IPA is used in the production of agrochemicals, contributing to the agricultural sector's growth.

How is this Isopropyl Alcohol Industry segmented?

The report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Application

  Solvents
  Chemical intermediates
  Pharmaceutical
  Others


End-user

  Cosmetics and personal care
  Cleaning agent
  Food and beverages
  Others


Technology

  Indirect hydration
  Direct hydration


Grade Type

  Industrial grade IPA
  Pharmaceutical grade IPA
  Cosmetic grade IPA


Geography

  APAC

    Australia
    China
    India
    Japan
    South Korea


  North America

    US
    Canada


  Europe

    Germany
    UK


  South America

    Brazil


  Middle East and Africa

By Application Insights

The solvents segment is estimated to witness significant growth during the forecast period. It is a versatile solvent utilized extensively across various industries for diverse applications. In surface coatings, it functions as a solvent for paint stripping and an alcohol carrier in the production of paints and coatings. Its role extends to acting as a common solvent in refractory coatings. In the realm of solvent applications, it is employed as a solvent for inks and processing agents for natural products such as fats, gums, vegetable and animal oils, and waxes. Additionally, it is used in the manufacture of cleaning and disinfectant solutions for household and comm

Isopropyl Alcohol Market Outlook

The global isopropyl alcohol market size was valued at approximately USD 3.5 billion in 2023 and is projected to reach around USD 6.1 billion by 2032, growing at a compound annual growth rate (CAGR) of 6.5% during the forecast period. This significant growth is attributed to the increasing demand across various sectors, including medical and healthcare, industrial, and personal care, driven by the compound's versatility and effectiveness as a solvent and disinfectant.

One of the primary growth factors for the isopropyl alcohol market is its widespread application in the medical and healthcare sector. The COVID-19 pandemic has underscored the importance of disinfectants, significantly boosting the demand for isopropyl alcohol-based products. Hospitals, clinics, and other healthcare facilities have ramped up their use of isopropyl alcohol for sanitization and sterilization purposes. Moreover, with the growing awareness about hygiene and infection control, the demand for hand sanitizers—which prominently feature isopropyl alcohol—has skyrocketed and is expected to maintain an upward trajectory.

The industrial sector also contributes to the burgeoning demand for isopropyl alcohol. Its utility as a solvent in the manufacture of chemicals, pharmaceuticals, and electronics showcases its indispensable role in industrial applications. The substance's effectiveness in cleaning and maintaining machinery and equipment, coupled with its use in the production of cleaning agents, paints, and coatings, further propels market growth. Additionally, the shift towards sustainable and safer solvents in various industrial processes bodes well for the future adoption of isopropyl alcohol.

In the realm of electronics manufacturing, the demand for high-purity solvents is paramount, and Electronic Grade Isopropanol plays a crucial role. This specific grade of isopropanol is essential for the cleaning and maintenance of sensitive electronic components, ensuring that no residues or impurities compromise the functionality of devices. As the electronics industry continues to evolve with advancements in technology, the need for reliable and effective cleaning agents like Electronic Grade Isopropanol becomes even more pronounced. The growth of sectors such as semiconductors, where precision and cleanliness are critical, further underscores the importance of this grade. Consequently, the market for Electronic Grade Isopropanol is poised to expand, driven by the increasing complexity and miniaturization of electronic devices.

Furthermore, the personal care and household sectors are significant contributors to the market's expansion. Isopropyl alcohol is extensively used in personal care products, including cosmetics and toiletries, for its properties as an antiseptic and solvent. The surge in consumer spending on personal care products, coupled with an increasing awareness of personal hygiene, fuels this demand. In household applications, isopropyl alcohol is commonly employed as a cleaning agent for its efficacy in disinfecting surfaces, thereby driving its market growth.

Regionally, the Asia Pacific market is expected to exhibit robust growth due to the rapidly expanding pharmaceutical and personal care industries in countries like China and India. The North American market benefits from substantial industrial and healthcare infrastructure, driving consistent demand. Europe is also a significant market, with stringent regulations promoting the use of effective disinfectants and solvents. The Middle East & Africa and Latin America, though smaller in market size, are anticipated to experience steady growth driven by improving healthcare facilities and increasing industrial activities.

Grade Analysis

The isopropyl alcohol market is segmented by grade, including 99% purity, 70% purity, 91% purity, and others. The 99% purity segment holds a significant share, driven by its application in industries requiring high-purity solvents. This grade is particularly favored in pharmaceuticals and electronics manufacturing, where the presence of impurities can compromise product quality. The growing pharmaceutical and electronics industries, especially in developing regions, further bolster the demand for high-purity isopropyl alcohol. Moreover, the stringent regulations in these industries necessitate the use of high-quality raw materials, reinforcing the market for 99% purity isopropyl alcohol.

India Isopropyl Alcohol (IPA) Market achieved a total market volume of 67.34 thousand Metric Tonnes in 2024 and is expected to reach USD 79.71 thousand metric tonnes with a projected Compound Annual Growth Rate (CAGR) of 2.81% during the forecast period.

The global Isopropyl Alcohol (IPA) market has expanded to reach approximately 3308 thousand tonnes in 2024 and is anticipated to grow at an impressive CAGR of 3.22% during the forecast period until 2035.

Isopropyl Alcohol Market is projected to reach 5.47 billion by 2033, growing at a CAGR of 4.60% from 2025-2033.

Global Isopropyl Alcohol Market size valued at US$ 3.44 Billion in 2023, set to reach US$ 6.56 Billion by 2032 at a CAGR of about 7.44% from 2024 to 2032.

The global isopropyl alcohol market size reached a value of USD 4.87 Billion in 2024. The market is further expected to grow at a CAGR of 4.30% in the forecast period of 2025-2034 to attain USD 7.42 Billion by 2034. The isopropyl alcohol market is expected to surge, owing to the requisite role of isopropyl alcohol in cleaning, sanitization, and disinfectants. The sanitizers market size was further propelled due to increasing demand during the COVID-19 pandemic. Sterilization and sanitization of medical devices is crucial to meet healthcare standards and isopropyl alcohol is most widely used in pharmaceutical and the healthcare sector. The need for hygiene and infection prevention in both hospitals and pharmaceutical facilities have been on the rise and is a key factor driving the market.

Electronic Grade Isopropyl Alcohol Market Outlook

The global market size for electronic grade isopropyl alcohol was valued at USD 2.3 billion in 2023 and is projected to reach USD 4.1 billion by 2032, growing at a compound annual growth rate (CAGR) of 6.5%. This remarkable growth is driven by the increasing demand for high-purity solvents in the electronics industry, particularly for applications in semiconductor and display technologies.

One of the key growth factors in the electronic grade isopropyl alcohol market is the rising demand for semiconductors. The semiconductor industry, which forms the backbone of modern electronics, requires high-purity solvents like isopropyl alcohol for various cleaning and etching processes. As technological advancements continue to push the boundaries of miniaturization and performance, the need for ultra-pure solvents becomes even more critical. This trend is expected to drive substantial growth in the market over the forecast period.

Another significant growth factor is the increasing adoption of electronic devices globally. From smartphones and tablets to smart home devices and wearables, the proliferation of electronic gadgets has created a robust demand for materials that ensure their reliability and performance. High-purity isopropyl alcohol plays a crucial role in the manufacturing and maintenance of these devices, thus propelling market growth. Additionally, the rise of the Internet of Things (IoT) and 5G technology is anticipated to further augment the demand for electronic grade isopropyl alcohol.

The surge in demand for LCD and LED displays also contributes to the market's expansion. Industries such as automotive, consumer electronics, and aerospace increasingly rely on advanced display technologies, which require meticulous cleaning and manufacturing processes. Electronic grade isopropyl alcohol, known for its excellent solvent properties and high purity, is essential in these applications. This has led to a significant uptick in its consumption, thereby supporting market growth.

The Pharmaceutical Grade Isopropyl Alcohol Sales sector is witnessing a notable surge, driven by its critical role in the healthcare and pharmaceutical industries. This grade of isopropyl alcohol is essential for maintaining stringent hygiene standards, particularly in the production of pharmaceuticals and sanitization products. As global health awareness increases, the demand for high-purity solvents in pharmaceutical applications is expected to rise. This trend is further supported by the growing emphasis on infection control and the need for effective disinfectants in medical settings. The pharmaceutical industry's reliance on isopropyl alcohol for its antiseptic properties underscores its importance in ensuring product safety and efficacy.

Regionally, Asia Pacific is expected to dominate the electronic grade isopropyl alcohol market due to its strong electronics manufacturing base, particularly in countries like China, Japan, South Korea, and Taiwan. The region's robust growth in consumer electronics, automotive, and semiconductor industries makes it a crucial market for high-purity solvents. Additionally, favorable government policies and investments in technology infrastructure are likely to bolster market growth in this region.

Purity Level Analysis

The purity level of electronic grade isopropyl alcohol is a critical factor that determines its suitability for various applications. The segment with 99.99% purity level is expected to witness the highest growth due to its use in ultra-sensitive electronics manufacturing processes such as semiconductor wafer cleaning and advanced photolithography. This high purity level ensures minimal contamination and maximal performance, making it indispensable for high-precision applications. As the demand for advanced electronic devices increases, the market for 99.99% pure isopropyl alcohol is set to expand significantly.

The 99.9% purity level is also a substantial segment in the market. This grade is commonly used in less critical but still highly demanding applications such as PCB manufacturing and certain stages of semiconductor processing. The balance between high purity and cost-effectiveness makes the 99.9% grade a popular choice among manufacturers. As the electronics industry continues to evolve, the demand for this level of purity is expected to grow steadily.

Gain insights into the Asia Pacific Isopropyl Alcohol Industry, size at USD 1.2 billion in 2023, showcasing key player segmentation and future forecasts.

The market size of the Isopropyl Alcohol Market is categorized based on Application (Solvent, Chemical Intermediate, Cleaning Agent, Pharmaceuticals, Personal Care) and End-Use Industry (Pharmaceuticals, Cosmetics and Personal Care, Food and Beverage, Automotive, Chemical Manufacturing) and Grade (Industrial Grade, Pharmaceutical Grade, Cosmetic Grade, Technical Grade, Food Grade) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

The India Isopropyl Alcohol (IPA) market volume stood at approximately 210 thousand tonnes in FY2023 and is expected to expand at a healthy CAGR 6.05% in the forecast period by FY2030.

GCC Isopropyl Alcohol Market size is estimated to grow at a CAGR of around 5.2% during the forecast period 2024-2030.

Explore the growth potential of Market Research Intellect's Electronic Grade Isopropyl Alcohol Market Report, valued at USD 1.2 billion in 2024, with a forecasted market size of USD 1.9 billion by 2033, growing at a CAGR of 6.2% from 2026 to 2033.

The isopropyl alcohol market size was USD 3.4 billion in 2024 and is estimated to reach USD 6.2 billion by the end of 2037, expanding at a CAGR of 4.9% during the forecast period, i.e., 2025-2037. Asia Pacific industry is predicted to account for a share of 43.2% owing to the increasing manufacturing activities.

The Isopropyl Alcohol (IPA) market, valued at $3.18 billion in 2025, is projected to experience robust growth, driven by increasing demand from various sectors. A Compound Annual Growth Rate (CAGR) of 4.54% from 2025 to 2033 indicates a significant expansion of the market over the forecast period. Key drivers include the rising utilization of IPA as a disinfectant and sanitizer in healthcare and consumer applications, fueled by heightened hygiene awareness. The growth is further propelled by its importance as a solvent in various industries, including electronics manufacturing, pharmaceuticals, and cosmetics. While specific restraining factors are not provided, potential challenges could include fluctuations in raw material prices (propylene) and environmental regulations concerning solvent emissions. Major players like Dow, Shell PLC, and LG Chem are shaping the market landscape through technological advancements and strategic expansions, signifying a competitive and dynamic industry. Regional variations in market share are likely influenced by factors such as industrial development, regulatory policies, and consumer preferences. The market segmentation, while not detailed, likely includes different grades of IPA (e.g., pharmaceutical grade, industrial grade) and application-based segments catering to the diverse user base. The market's future trajectory will be shaped by technological improvements in IPA production, increasing sustainability concerns, and the evolving needs of various end-use industries. The consistent demand from healthcare and various industrial segments assures a steady expansion of the IPA market throughout the forecast period. Companies are actively pursuing strategic partnerships and investments to enhance their market position. The competitive landscape characterized by a mix of large multinational corporations and specialized chemical manufacturers is expected to remain highly competitive. Future growth will hinge on factors such as innovation in production methods, exploring sustainable sourcing of raw materials, and the development of new applications for IPA, possibly in areas like renewable energy or advanced materials. Government regulations related to chemical safety and environmental impact will also play a role in shaping the market dynamics in the coming years. Market analysis suggests that regional differences will persist, influenced by economic growth, infrastructure development, and the level of industrialization. Recent developments include: June 2023: ExxonMobil invested approximately USD 264 million in new projects in Baton Rouge area facilities. Under these projects, the company included a new production unit to produce high-grade isopropyl alcohol for microchip manufacturing and a new resin production facility at ExxonMobil’s Port Allen lubricants plant. The project investment decision is expected to be finalized in the first half of 2024.. Key drivers for this market are: Rising Demand for Isopropyl Alcohol from the Pharmaceutical Industry, Growing Utilization of Isopropyl Alcohol in the Personal Care and Cosmetics Industry. Potential restraints include: Rising Demand for Isopropyl Alcohol from the Pharmaceutical Industry, Growing Utilization of Isopropyl Alcohol in the Personal Care and Cosmetics Industry. Notable trends are: Healthcare Industry to Dominate the Market.