Isopropyl Alcohol Market Size

Isopropyl Alcohol Market Size

Isopropyl alcohol market size exceeded USD 3 billion in 2019 and is estimated to grow at over 6.1% CAGR between 2020 and 2026. Changing perceptions on cleanliness, increasing prevalence of bacterial outbreaks, and strict hygiene trends are likely to boost product demand during the forecast period.

Isopropyl alcohol is a flammable & colorless chemical compound widely utilized across diverse industries in 70% and 99% concentrations. IPA caters as a solvent, cleaning agent, chemical intermediate, flavouring agent, disinfectant & antiseptic, among other potential uses. Its high performance, sanitizing, cleansing, economical and preservative characteristics make it ideal for cosmetic, toiletries, and personal care products which is likely to boost the isopropyl alcohol market share.

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Isopropyl alcohol is widely used as a preservative in various cosmetic preparations such as creams, lotions, serums, shampoos, and hair conditioners. Additionally, rapid acceptance of alcohol bases sanitizers and cleansing solutions makes it easily acceptable in eyes of customers.

Isopropyl alcohol market from cosmetics & personal care products is likely to grow with CAGR of over 6.5% through 2026 owing to increasing competition in cosmetic industry and rapid shift towards sanitizing ingredients. Its dual characteristics as a preservative and sanitizing agent makes it compatible with various high quality personal care products such as cleansing liquid, sanitizers, and face wash products. Industry players are rapidly using alcohol in manufacturing luxury and over the top counter cosmetic products, providing a substantial push to isopropyl alcohol demand worldwide.

U.S. Regulation  799.2325 specifies the requirements for the testing of isopropyl alcohol under the Toxic Substances Control Act. It states the purity of isopropanol required, testing personnel, and the specific health effects to be tested. The regulation is helping manufacturers to manufacture high quality & economical isopropyl alcohol solutions in various end industries and also helping in improving brand equity.
 

Various industry players are rapidly engaged in new production development, marketing initiatives and research to manufacture high quality & targeted solutions. Increasing acceptance of isopropyl alcohol in eyes of consumers and rapid shift of manufactures to provide high quality products should boost product demand. Furthermore, increasing prevalence of COVID – 19 cases and rapid shift towards sanitizing ingredients and strict hygiene norms should stimulate the isopropyl alcohol market trends.