Isopropyl alcohol market size to grow by USD 571.27 million from 2022 to 2027: High volume consumption in solvents to boost growth - Technavio

NEW YORK, June 20, 2023 /PRNewswire/ -- The global isopropyl alcohol market size is estimated to increase by USD 571.27 million from 2022 to 2027. However, the market's growth momentum will decelerate at a CAGR of 3.54%. The high volume consumption of isopropyl alcohol in solvents is notably driving market growth. Isopropyl alcohol is one of the most widely used solvents owing to its solvency properties. It can be directly used in applications such as surface coatings, inks, pesticides, herbicides formulations, resin production, disinfectants, and cleaning products. Among these, the coatings and ink industries are the major end-users of isopropyl alcohol. Isopropyl alcohol can be used to dilute essential oils due to its low toxicity, less density, and low boiling point. It is used for paint stripping in surface coatings and as an alcohol solvent in manufacturing paints and coatings. Isopropyl alcohol is also used in hand sanitizers. Therefore, the growing consumption of isopropyl alcohol in solvents is expected to fuel market growth during the forecast period. Discover some insights on market size, historic period (2017-2021), and forecast period (2023-2027) before buying the full report - Request a sample report

Isopropyl alcohol market – Vendor analysis
Vendor landscape –

The global isopropyl alcohol market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer isopropyl alcohol in the market are Deepak Fertilisers and Petrochemicals Corp. Ltd., ENEOS Holdings Inc, Exxon Mobil Corp., GJ Chemical, Greenfield Global Inc., Honeywell International Inc., INEOS Group Holdings SA, LCY Chemical Corp., LG Chem, LyondellBasell Industries NV, Mitsui Chemicals Inc., Penta s.r.o, Sasol Ltd., SEQENS GROUP, Shell plc, Soft Jamb Co., Spectrum Laboratory Products, Tokuyama Corp., Tokyo Chemical Industry Co. Ltd., Vizag Chemical International, and others.

The global isopropyl alcohol market is highly competitive and is mainly dominated by key vendors. The competition among the vendors is extremely high. However, this competition leads to decreasing profit margins, thus creating a threat to existing players and new entrants. Over the past few years, the key manufacturers have been focusing on increasing their presence in the market through the expansion of their production facilities. The rising consumption of isopropyl alcohol in end-user industries, including coatings, pharmaceuticals, cosmetics, personal care, chemicals, and other industries, is providing opportunities for existing vendors to expand their product offerings and increase their production capacities.

Vendor offerings -

• Exxon Mobil Corp. - The company offers business continuity management programs and disaster recovery product line for MSPs to efficiently prevent data loss and minimize downtime for their customers.
• GJ Chemical - The company offers business continuity management programs, which help businesses with strategic imperatives.
• Greenfield Global Inc. - The company offers business continuity management programs, which help businesses sustain potential disasters.
• Honeywell International Inc. - The company offers business continuity management programs, which help sustain businesses by assessing potential disasters.
• For details on vendors and their offerings – Request a sample report

Isopropyl alcohol market - Segmentation assessment

Segment overview
Technavio has segmented the market based on application (solvents, chemical intermediates, pharmaceutical, and others), end-user (cosmetics and personal care, cleaning agent, food and beverages, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). 

• The solvents segment will account for a significant share of market growth during the forecast period. Some of the applications of isopropyl alcohol include inks and processing solvents of natural products, such as fats, gums, vegetables, animal oils, and waxes. Isopropyl alcohol is also used as a solvent in the manufacturing of cleaning and disinfectant solutions for various household and commercial uses. It is the most commonly used disinfectant in hospitals and households. These factors will drive the growth of the segment during the forecast period.

Geography overview
The report provides actionable insights and estimates the contribution of all regions to the growth of the global isopropyl alcohol market.

• APAC is estimated to account for 51% of the growth of the global market during the forecast period. The growth of the petrochemical industry in APAC, especially in China and India, is leading to the entry of new players. Major manufacturers are establishing their manufacturing facilities in the region. China is the fastest-growing country, with rising demand from the downstream construction and automobile industries. China is the largest producer of isopropyl alcohol due to the presence of several local and regional vendors and the abundant availability of low-cost labor and raw materials.

For insights on global, regional, and country-level parameters with growth opportunities from 2017 to 2027 - Download a sample report

Global Isopropyl Alcohol Market – Market dynamics

Key trends - Capacity expansions and new plants are key trends in the market. The rising demand for isopropyl alcohol-based consumer products, pharmaceuticals, and household cleaning products has encouraged producers to expand their production capacities. The markets in China and India have developed rapidly, with continuously increasing production capacities. Due to the increasing demand and limited production capacity, end-user industries rely on imports. Therefore, during the forecast period, many new production facilities will open. These factors will support market growth during the forecast period.

Major challenges - Fluctuations in crude oil prices are challenging market growth. Propylene is the major raw material for the production of isopropyl alcohol. Propylene is a key chemical building block for various industrial products. It is directly produced from oil or its derivatives, such as naphtha or liquefied petroleum gas. In recent years, the decline in oil prices has compelled players in the oil and gas industry to implement cost-cutting measures such as workforce layoffs. Thus, fluctuations in crude oil prices will hamper production capacity and increase the production cost of propylene, thereby challenging market growth.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this isopropyl alcohol market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the isopropyl alcohol market between 2023 and 2027
• Precise estimation of the size of the isopropyl alcohol market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the isopropyl alcohol market across APAC, North America, Europe, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of isopropyl alcohol market vendors

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Table of contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global isopropyl alcohol market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global isopropyl alcohol market 2017 - 2021 ($ million)

• 4.2 Application Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.3 End-user Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – End-user Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments
• Exhibit 30: Chart on Application - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 Solvents - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Solvents - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Solvents - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Solvents - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Solvents - Year-over-year growth 2022-2027 (%)

• 6.4 Chemical intermediates - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Chemical intermediates - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Chemical intermediates - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Chemical intermediates - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Chemical intermediates - Year-over-year growth 2022-2027 (%)

• 6.5 Pharmaceutical - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Pharmaceutical - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Pharmaceutical - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Pharmaceutical - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Pharmaceutical - Year-over-year growth 2022-2027 (%)

• 6.6 Others - Market size and forecast 2022-2027 
• Exhibit 46: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 47: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 6.7 Market opportunity by Application 
• Exhibit 50: Market opportunity by Application ($ million)

7 Market Segmentation by End-user

• 7.1 Market segments
• Exhibit 51: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 52: Data Table on End-user - Market share 2022-2027 (%)

• 7.2 Comparison by End-user 
• Exhibit 53: Chart on Comparison by End-user
• Exhibit 54: Data Table on Comparison by End-user

• 7.3 Cosmetics and personal care - Market size and forecast 2022-2027 
• Exhibit 55: Chart on Cosmetics and personal care - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Cosmetics and personal care - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Cosmetics and personal care - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Cosmetics and personal care - Year-over-year growth 2022-2027 (%)

• 7.4 Cleaning agent - Market size and forecast 2022-2027 
• Exhibit 59: Chart on Cleaning agent - Market size and forecast 2022-2027 ($ million)
• Exhibit 60: Data Table on Cleaning agent - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Chart on Cleaning agent - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Cleaning agent - Year-over-year growth 2022-2027 (%)

• 7.5 Food and beverages - Market size and forecast 2022-2027 
• Exhibit 63: Chart on Food and beverages - Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on Food and beverages - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on Food and beverages - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on Food and beverages - Year-over-year growth 2022-2027 (%)

• 7.6 Others - Market size and forecast 2022-2027 
• Exhibit 67: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.7 Market opportunity by End-user 
• Exhibit 71: Market opportunity by End-user ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 72: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 73: Chart on Market share by geography 2022-2027 (%)
• Exhibit 74: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 75: Chart on Geographic comparison
• Exhibit 76: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027 
• Exhibit 77: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027 
• Exhibit 81: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027 
• Exhibit 85: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 89: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 93: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 97: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027 
• Exhibit 101: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Japan - Market size and forecast 2022-2027 
• Exhibit 105: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 106: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 107: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.11 India - Market size and forecast 2022-2027 
• Exhibit 109: Chart on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 110: Data Table on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 111: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 112: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.12 Germany - Market size and forecast 2022-2027 
• Exhibit 113: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 114: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 115: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 116: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 117: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 118: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 119: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 120: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 121: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 122: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 123: Matrix on vendor position and classification

• 12.3 Deepak Fertilisers and Petrochemicals Corp. Ltd. 
• Exhibit 124: Deepak Fertilisers and Petrochemicals Corp. Ltd. - Overview
• Exhibit 125: Deepak Fertilisers and Petrochemicals Corp. Ltd. - Business segments
• Exhibit 126: Deepak Fertilisers and Petrochemicals Corp. Ltd. - Key offerings
• Exhibit 127: Deepak Fertilisers and Petrochemicals Corp. Ltd. - Segment focus

• 12.4 ENEOS Holdings Inc
• Exhibit 128: ENEOS Holdings Inc - Overview
• Exhibit 129: ENEOS Holdings Inc - Business segments
• Exhibit 130: ENEOS Holdings Inc - Key offerings
• Exhibit 131: ENEOS Holdings Inc - Segment focus

• 12.5 Exxon Mobil Corp.
• Exhibit 132: Exxon Mobil Corp. - Overview
• Exhibit 133: Exxon Mobil Corp. - Business segments
• Exhibit 134: Exxon Mobil Corp. - Key offerings
• Exhibit 135: Exxon Mobil Corp. - Segment focus

• 12.6 Honeywell International Inc. 
• Exhibit 136: Honeywell International Inc. - Overview
• Exhibit 137: Honeywell International Inc. - Business segments
• Exhibit 138: Honeywell International Inc. - Key news
• Exhibit 139: Honeywell International Inc. - Key offerings
• Exhibit 140: Honeywell International Inc. - Segment focus

• 12.7 INEOS Group Holdings SA 
• Exhibit 141: INEOS Group Holdings SA - Overview
• Exhibit 142: INEOS Group Holdings SA - Business segments
• Exhibit 143: INEOS Group Holdings SA - Key news
• Exhibit 144: INEOS Group Holdings SA - Key offerings
• Exhibit 145: INEOS Group Holdings SA - Segment focus

• 12.8 LCY Chemical Corp.
• Exhibit 146: LCY Chemical Corp. - Overview
• Exhibit 147: LCY Chemical Corp. - Product / Service
• Exhibit 148: LCY Chemical Corp. - Key offerings

• 12.9 LG Chem
• Exhibit 149: LG Chem - Overview
• Exhibit 150: LG Chem - Business segments
• Exhibit 151: LG Chem - Key news
• Exhibit 152: LG Chem - Key offerings
• Exhibit 153: LG Chem - Segment focus

• 12.10 LyondellBasell Industries NV 
• Exhibit 154: LyondellBasell Industries NV - Overview
• Exhibit 155: LyondellBasell Industries NV - Business segments
• Exhibit 156: LyondellBasell Industries NV - Key news
• Exhibit 157: LyondellBasell Industries NV - Key offerings
• Exhibit 158: LyondellBasell Industries NV - Segment focus

• 12.11 Mitsui Chemicals Inc. 
• Exhibit 159: Mitsui Chemicals Inc. - Overview
• Exhibit 160: Mitsui Chemicals Inc. - Business segments
• Exhibit 161: Mitsui Chemicals Inc. - Key offerings
• Exhibit 162: Mitsui Chemicals Inc. - Segment focus

• 12.12 Penta s.r.o
• Exhibit 163: Penta s.r.o - Overview
• Exhibit 164: Penta s.r.o - Product / Service
• Exhibit 165: Penta s.r.o - Key offerings

• 12.13 Sasol Ltd.
• Exhibit 166: Sasol Ltd. - Overview
• Exhibit 167: Sasol Ltd. - Business segments
• Exhibit 168: Sasol Ltd. - Key news
• Exhibit 169: Sasol Ltd. - Key offerings
• Exhibit 170: Sasol Ltd. - Segment focus

• 12.14 Shell plc
• Exhibit 171: Shell plc - Overview
• Exhibit 172: Shell plc - Business segments
• Exhibit 173: Shell plc - Key news
• Exhibit 174: Shell plc - Key offerings
• Exhibit 175: Shell plc - Segment focus

• 12.15 Spectrum Laboratory Products 
• Exhibit 176: Spectrum Laboratory Products - Overview
• Exhibit 177: Spectrum Laboratory Products - Product / Service
• Exhibit 178: Spectrum Laboratory Products - Key offerings

• 12.16 Tokuyama Corp.
• Exhibit 179: Tokuyama Corp. - Overview
• Exhibit 180: Tokuyama Corp. - Business segments
• Exhibit 181: Tokuyama Corp. - Key offerings
• Exhibit 182: Tokuyama Corp. - Segment focus

• 12.17 Tokyo Chemical Industry Co. Ltd. 
• Exhibit 183: Tokyo Chemical Industry Co. Ltd. - Overview
• Exhibit 184: Tokyo Chemical Industry Co. Ltd. - Product / Service
• Exhibit 185: Tokyo Chemical Industry Co. Ltd. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 186: Inclusions checklist
• Exhibit 187: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 188: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 189: Research methodology
• Exhibit 190: Validation techniques employed for market sizing
• Exhibit 191: Information sources

• 13.5 List of abbreviations 
• Exhibit 192: List of abbreviations

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