H1 2023: In H1 2023, the leading producers of Isopropyl Alcohol were ExxonMobil, Dow Chemical, Sasol, and Deepak Fertilizers and Petrochemicals Corporation Ltd. LyondellBasell Industries, one of the leading producers of IPA, announced a force majeure in February 2023 at Texas, USA, for a short period of 10 days. In comparison to the other regions, the Asia Pacific region consumed the majority of IPA during H1 2023. However, low demand for IPA by the end-user industries like pharmaceuticals, paints & chemicals caused isopropyl alcohol prices to decline in early January 2023. Another factor was the plentiful supply from Asian wholesalers and low prices of propylene However, starting in early February 2023, IPA prices suddenly increased and kept rising till March 2023. The increase in price was due to the region's increased purchasing activity, larger transaction volumes, and higher operating costs for IPA plants in the Asia Pacific region. A rise in IPA prices was seen in the Chinese market up until April 2023, but a steep decrease from the end of April to June 2023 was observed. The drop in domestic market consumer orders was the main factor contributing to the decline in IPA prices in China. From May to June 2023, In the Chinese market, end-user industries like pharmaceutical and personal care items didn't show a lot of interest in IPA, resulting in decline of the IPA prices in the Chinese market.
H1 2022: In H1 2022, the global production capacity of Isopropyl Alcohol (IPA) had reached around 1500 thousand tonnes. The leading producers of Isopropyl Alcohol were Dow Chemical and ExxonMobil. Based on production capacity, Dow Chemical was leading globally in H1 2022. Based on demand, Asia Pacific was ahead among other regions across the globe. Isu Chemicals, one of the leading chemical manufacturers of South Korea, faced a temporary shutdown of its IPA production facility in June 2022. This shutdown lasted about a week in June 2022. Regionally, Asia Pacific experienced fluctuating market on average of IPA in terms of value in H1 2022. Isopropyl alcohol prices showed an upward trend in the initial months of 2022. Moreover, rising prices of upstream crude oil and its derivatives further impacted the IPA market. The suspension of production in China due to the Winter Olympics and the Lunar Holidays led to the IPA price increase. However, by the end of April 2022, prices fell and there were lower IPA imports, which had slowed APAC’s trade activity. Additionally, as purchasing activity lowered drastically towards the end of June 2022, the Asian market’s distributors had sufficient inventories of the product.
H2 2022: In H2 2022, the global production capacity of Isopropyl Alcohol had slightly increased and reached around 1600 thousand tonnes. In H2 2022, the Isopropyl Alcohol market showcased a fall of market sentiment within the APAC region supported by lackluster downstream request from various end-user sectors Pharmaceutical, individual care, and chemical sectors along with upstream propylene costs. Besides, reduction in import and export, temporary halt of IPA production, and unpredictable consumer purchase behavior were a few of the essential variables that bolstered the estimating sentiments of Isopropyl Alcohol within the Chinese market. Also, high inflation rate which occurred along with diminishment of consumers’ interest intrigued, along with other variables led to the weaker cost slant of Isopropyl Alcohol in China during H2 2022. Factory prices of IPA across China faced a fall in November despite the slowdown in consumer inflation, which displayed weak demand and risen inventories by market participants in the Chinese economy. However, Europe also displayed significant consumption of IPA. Although in the beginning of H2 2022, the increased demand by the end-user industries and customer base led to significant price increase of Isopropyl Alcohol in H2 2022. This situated prompted the market participants to raise the IPA prices across Europe and replenish declining inventories to maintain profit margins during H2 2022.
The global Isopropyl Alcohol (IPA) market has expanded to reach approximately 3100 thousand tonnes in 2022 and is anticipated to grow at an impressive CAGR of 3.22% during the forecast period until 2035. Moreover, rapid industrialization and infrastructural investments creating a huge demand for solvents across the major economies are likely to create a strong demand for IPA from 2023-2035.
IPA is a clear colorless liquid easily miscible with water, ethanol, ethers, and other solvents. IPA can be produced through three routes, viz., indirect hydration of Propylene, direct hydration of Propylene and catalytic hydrogenation of Acetone. Among these Propylene-based IPA remains the most used production process in the current market scenario. Acetone-based IPA is on the verge of phasing out. Among various grades of IPA available, Industrial grade IPA is the most extensively kind owing up to its usage as a solvent and chemical intermediate.
Being highly evaporative and extremely safe to use, IPA is also used for sterilization applications in the healthcare and pharma sectors. Increasing purchasing power of consumers would create a need for higher consumption of IPA and IPA-based derivatives in cosmetics and personal care products. Also, the electronics sector employs IPA as a cleaning agent and is anticipated to grow at a significant rate throughout the projection period due to the significant increase in technological penetration in developing nations. Owing to these reasons, the IPA demand is estimated to reach about 4700 thousand tonnes by 2035.
The Asia Pacific region dominates the Isopropyl Alcohol (IPA) market in terms of consumption, followed by Europe. As of 2022, this region consumed approximately 42% of the market. Asia Pacific region is the fastest-growing region among all other regions and expected to hold the maximum share of demand in the forecast period owing to rapid industrialization, growing population and a large consumer base in the region. IPA’s multi-faceted application across several industries is expected to push demand for the product to high levels during the forecast period.
Based on the end-use, the global Isopropyl Alcohol (IPA) market is segregated into Pharmaceuticals, Cosmetics & Personal Care, Chemicals, Paints & coatings, and Others. Among these industries, the Pharmaceuticals industry holds the largest market share of IPA. In 2022, the Pharmaceuticals industry displayed a consumption of 42%. IPA finds its application in the cleaning and disinfectant parts of the pharmaceuticals industry and is anticipated to display the similar trend in the future owing to sanitation practice among population across the globe.
Major players in the production of Global Isopropyl Alcohol (IPA) are Sasol Germany, Dow Chemicals, Exxon Mobil, Deepak Fertilizers and Petrochemicals Corporation Ltd., Yangcheng Super chemicals, Jiande Xinhua Chemical, Kellin Chemical, Shell Eastern Petroleum Pte Ltd, JX Nippon Oil and Energy, Tasco Chemicals, Seqens, LCY Chemicals, BP, Shell Nederland Chemie BV, and others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2035
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Objective of the Study:
• To assess the demand-supply scenario of Isopropyl Alcohol (IPA) which covers production, demand and supply of Isopropyl Alcohol (IPA) market in the globe.
• To analyse and forecast the market size of Isopropyl Alcohol (IPA)
• To classify and forecast Global Isopropyl Alcohol (IPA) market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Isopropyl Alcohol (IPA) market in the globe.
To extract data for Global Isopropyl Alcohol (IPA) market, primary research surveys were conducted with Isopropyl Alcohol (IPA) manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Isopropyl Alcohol (IPA) market over the coming years.
ChemAnalyst calculated Isopropyl Alcohol (IPA) demand in the globe by analyzing the historical data and demand forecast which was carried out considering the historical extraction and supply and demand of Isopropyl Alcohol (IPA) across the globe. ChemAnalyst sourced these values from industry experts, and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Isopropyl Alcohol (IPA) manufacturers and other stakeholders
• Organizations, forums and alliances related to Isopropyl Alcohol (IPA) distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Isopropyl Alcohol (IPA) manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Isopropyl Alcohol (IPA) market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
3100 thousand tonnes
Market size Volume by 2035
4700 thousand tonnes
Growth Rate
CAGR of 3.22% from 2023 to 2035
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2035
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2035
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End-Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process, Policy and Regulatory Landscape.
Segments covered
By End-Use: (Pharmaceuticals, Cosmetics & Personal Care, Chemicals, Paints & coatings, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Isopropyl Alcohol (IPA) market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Isopropyl Alcohol (IPA).
3. Capacity By Location
To better understand the regional supply of Isopropyl Alcohol (IPA) by analyzing its manufacturers' location-based capacity.
4. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. Production By Company [Quarterly Update]
Study the historical annual production of Isopropyl Alcohol (IPA) by the leading players and forecast how it will grow in the coming years.
6. Demand by End- Use [Quarterly Update]
Discover which end-user industry (Pharmaceuticals, Cosmetics & Personal Care, Chemicals, Paints & coatings, and Others) are creating a market and the forecast for the growth of the Isopropyl Alcohol (IPA) market.
7. Demand by Region
Analyzing the change in demand of Isopropyl Alcohol (IPA) in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
8. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Isopropyl Alcohol (IPA). Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
9. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Isopropyl Alcohol (IPA).
10. Company Share
Figure out what proportion of the market share of Isopropyl Alcohol (IPA) is currently held by leading players across the globe.
11. Manufacturing Process
Discover insights into the intricate manufacturing process of Isopropyl Alcohol (IPA).
12. Policy and Regulatory Landscape
Gain a comprehensive understanding of the policy and regulatory landscape within the Isopropyl Alcohol (IPA) market.
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resulting in a loss of production capacity to impact the bottom line. The capacity tracker provides industries
with a global view of production and consumption capacity loss that reflects the corresponding conversion factors.
It also highlights the immediate impact on supply due to planned and unplanned outages as well as upcoming start-up
of new capacities. Additionally, it emphasizes how each shutdown—whether due to a maintenance turnaround or a case
of force majeure, affects the plant's operating rate for the given duration. Disruption tracker gives a clear insight
into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What is the expected global market size of Isopropyl Alcohol (IPA) in terms of volume for 2035?
Ans:
The global market size of Isopropyl Alcohol (IPA) is anticipated to reach approximately 4700 thousand tonnes by 2035.
Q2.
Which end-use industry is dominating the Global Isopropyl Alcohol (IPA) market?
Ans:
The Pharmaceuticals industry is dominating the Isopropyl Alcohol (IPA) market and captured approximately 42% of the market in 2022.
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