Market Size of Isopropyl Alcohol (IPA) Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 3.37 Billion |
| Market Size (2029) | USD 4.21 Billion |
| CAGR (2024 - 2029) | 4.58 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Isopropyl Alcohol (IPA) Market Analysis
The Isopropyl Alcohol Market size is estimated at USD 3.37 billion in 2024, and is expected to reach USD 4.21 billion by 2029, growing at a CAGR of 4.58% during the forecast period (2024-2029).
Due to the COVID-19 pandemic, production in various industries like chemicals and paints, and coatings decreased. However, this decrease was compensated by the growth in the production of sanitizers.
- In the medium term, the increasing use of cosmetic and personal care products, the wide usage of IPA as cleaning agents, and continued demand for IPA from the pharmaceutical industry for sanitizer production are likely to drive the market's growth,
- On the flip side, the availability of alternative ways to produce acetone remains one of the major concerns for the market.
- Innovation in bio-based isopropyl alcohol is likely to create opportunities for the market in the coming years.
- Asia-Pacific dominates the market worldwide, with huge demand generated from China, India, and Japan.
