Global isopropanol market is expected to reach USD 6.95 billion by 2033, at a CAGR of 7.3% from 2024 to 2033. Global isopropanol market is witnessing a considerable growth owing to increasing demand for isopropanol across the various industries. Isopropyl alcohol, or isopropanol, shares similar physical and chemical properties with ethanol. It can dissolve completely in water and partially dissolve in organic solvents. Its various applications include its use as a solvent for processes, an intermediate substance, or a cleansing agent in significant end-user industries like pharmaceuticals and cosmetics, among others. It has gained fame due to its common use as a disinfectant; hospitals, pharmacies, clean rooms, and electronics manufacturing organizations depend on it because of this attribute. When coupled with 60% -90% alcoholic concentration blended alongside purified water volume ranging from 10-40%, Isopropyl alcohol effectively eliminates bacteria, fungi and viruses.

Market Overview:

Isopropanol also called as Isopropyl alcohol is a colourless, non-corrosive, and limpid liquid with a pleasant smell. It is miscible with common organic solvents (including chlorinated solvents) including alcohol, water, and most organic solvents. It also dissolves substances such as natural resins, oils and gums, cellulose, and alkaloids. These characteristics allow its use for a variety of applications. It is often used as the solvent in some antifreeze and windshield wiper fluid as well as rubbing alcohol. Most rubbing alcohol contains 70% isopropanol. It is used in the regular household items such as cleaners, disinfectants, and hand sanitizers. Further, it has various application in the pharmaceutical industry. Antiseptic solutions containing povidone-iodine, isopropanol, and/or chlorhexidinegluconate are most commonly used for patient skin preparation. Isopropanol is also a volatile liquid, so when its container is left open, it evaporatesquickly. 

Isopropanol (or isopropyl alcohol) can also be found in glass cleaners, antifreeze, deicers, jewellery cleaner, stain removers, household disinfectants, and hand sanitizers. In various industries, it is used as an inexpensive solvent for drugs, cosmetics, shellacs, and gums, as well as for denaturing ethanol (ethyl alcohol). When it added to wet gas, it helps to prevent freezing and separation of a water layer. Isopropanol is easily oxidized to acetone, which is also one of the vital solvent. As isopropanol is widely used in paints and resins, demand usually increases as the summer construction season. In addition, low-grade isopropanol is used in motor oils, and the improved automotive sector has positively influenced the demand for isopropanol. Clinical symptoms of isopropanol ranges from clinical intoxication to profound obtundation. End-use markets such as food and beverage manufacturing, pharmaceutical, paints and coatings are highly dependent on the isopropanol, and, thus, the demand is likely to increase over the forecast period. 

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Market Dynamics:

Drivers

• Growing demand for household and personal care industry 

Isopropanol market is primarily driven by the growing demand for the household & personal care products across the globe. Currently, personal care and household industry are experiencing rapid growth because of increasing population globally and lifestyles changing in many countries. Isopropanol is used as a solvent in household and personal care products, in diverse applications, due to its low cost and easy availability. It is used in the regular household items such as cleaners, disinfectants, and hand sanitizers. 

• Increasing demand for isopropanol in the paints and coatings industry 

Isopropanol can be found in thinners for wood furnishings, paints, and inks. In the paints and coatings, isopropanol is mainly used as an inert solvent to reduce the flammability of coatings during transportation and storage. In inks, isopropanol is primarily used as an additive and thinner of water-based paints. Thus, rising construction activities across the globe, boosting the demand for paints and coating, which results in growth of isopropanol market. 

Restraints:

• High price fluctuation

Broad gap in the demand and supply of isopropanol has resulted in the high price fluctuations, hampering the growth of isopropanol market over the forecast period. Due to this, many key vendors such as BASF SE, Royal Dutch Shell PLC, and Exxon Mobil Corporation have risen the prices for isopropanol. Thus, hike in the isopropanol prices, likely to hamper the growth of the market. 

Opportunities:

• Increasing use of isopropanol as a biofuel 

Isopropanol is one of the vital alcohols, which can be produced by microbes and used as a biofuel to partially replace gasoline. In addition, isopropanol’s production using lignocellulosicwaste has represented a lucrative opportunity for economically-viable manufacturing of the compound. The next era of green chemicals, which promotes adoption of bio-based chemicals, will significantly complement such biological production methods of isopropanol in the upcoming years.

Challenges:

• Stringent regulations on volatile organic compounds’ (VOC) emission

Volatile

Segmentation Analysis:

The global isopropanol market has been segmented based on end-use, sales channel, application, and regions.

• The end-use segment is divided into direct solvent, chemical intermediate, pharmaceutical solvents, pesticide formulations, chemical reagents, and others. The direct solvent segment accounted for the major market share of 44% in 2023. In the industries such as paints & coatings and cosmetics, isopropanol is one of essential chemical. Thus, the growth in these industries, owing to the rising construction, and beauty care industries is expected to drive the demand for isopropanol.
• The sales channel segment includes online retailing and offline retailing. The online retailing is expected to register a CAGR of around 7.7% in the market during the forecast period. Increasing online retailing business for the various chemicals is one of the key factor driving the growth of the market. In addition to this, the emerging countries are offering new growth opportunities, where the offline chemical vendors are not available. Furthermore, the minimum interest of suppliers and dealers of isopropanol in the supply chain, driving the growth of online channels.
• The application segment includes medical use, paints and coatings, household & personal care, and others. The medical use segment held the major market share of 35.4% in 2023. It is widely used as a disinfectant, which prevents the growth of the bacteria on the skin. Isopropanol also used on the skin, to help prevent bacterial skin infections from scrapes and cuts. Isopropanol is used in the healthcare industry to prevent disease that may be caused by needle punctures. Thus, increasing usage of isopropanol in hand sanitizer and disinfecting pads, which typically contain a 60–70% solution of isopropanol in water, driving the growth of the market.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. The Asia Pacific region emerged as the largest market for the isopropanol market, with a 34.8% share of the market revenue in 2023.

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• This is mainly due to increasing demand isopropanol in the medical use and in the textile industry. In addition to this, emerging countries such as India and China have high growth prospects in the global isopropanol market, over the forecast period. The isopropanol has a high demand for the use in household & personal care products market coupled with the massive demand in the intermediate chemical formulation.
• North America is growing at the steady growth in the global isopropanol market, due to increasing demand for isopropanol in the pharmaceutical industry. Rapid influx of several products such as hand sanitizers, oral mouthwash, alcohol wipes and swabs, and eardrops has fuelled the demand for isopropanol in the region. Rising consumer health awareness of the antibacterial and antiseptic benefits of isopropanol will continue to spur the application in the upcoming years. U.S. holds a significant market share among other countries in the North America region. 

Competitive Analysis:

The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances and partnerships to improve their market position in the global isopropanol industry.

In July 2019, BASF SE announced that the company had received new Isopropanol-azole fungicide with a unique mode of action, to Australian farmers, that provides fast-acting and long-lasting disease control for a broad range of crops and disease combinations.

In May 2018, OXEA GmbH announced the plan to build new world-scale propanol production unit at its Bay City site in Texas, USA, with a capacity of 100 k mt per annum of n-propanol, Propanol 2 is currently one of Oxea’s most significant investment projects.

List of Key Market Players:

• BASF SE
• Royal Dutch Shell PLC
• Exxon Mobil Corporation
• Tokuyama Corporation
• LCY Chemical Corp.
• OXEA GmbH
• JXTG Holdings, Inc.
• LG Chem Ltd.
• Sasol Limited
• ISU Chemical

Key Target Audience

• Drug Manufacture
• Pharmaceutical Companies
• Government Authorities and R&D Institutions
• Consulting And Research Firm
• Raw Material Suppliers
• Potential investors

Report Description:

• Global Isopropanol Market, Industry Analysis, Trends, Analysis and Forecast, 2024 to 2033 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
• 2023 is considered as the base year of the report. 2020, 2021 and 2022 are considered as the historic years and 2024 to 2033 are the forecast years. The global isopropanol market is based on revenue (USD Million/Billion), volume (Kilotons), and price. The report incorporates the market study on the basis of revenue and volume. The study covers the market share revenue/market share/volume for each of the segments, regions and countries catering to global isopropanol market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
• The report encompasses with the relative data & information, which have been validated by the leading industry professionals and experts all across the globe. The research report also delivers an outline of the attractiveness of isopropanol and regions which are deduced and formulated on the basis of their growth rate (CAGR), market size, and attractiveness by analyzing the present and future prospects to market growth and development in future.
• The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to global isopropanol market. This offers vital and in depth insights in order to depict the overall market scenario.
• The report offers the detailed study for the company profiles of key organizations operating in the global isopropanol market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development &innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario. 
• The report provides an elaborative assessment of the porter’s five forces analysis coupled with SWOT analysis so as to provide business related data and information’s. Porter’s five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development which influences the company growth and development in order to sustain and survive in the long run.
• Along with that, the report also focuses on the market related driving factors, growth limitations (restraints), potential industry opportunities, significant trends and development which act as a key potential for the investors. 
• Potential growth prospects along with the penetration rate analysis of the products (market related i.e., global isopropanol market is covered in order to comprehend the adoption rate and evaluate the market size.