Isopropyl Alcohol Market To Reach $7.65 Billion By 2033

Isopropyl Alcohol Market Growth & Trends

The global isopropyl alcohol market size is expected to reach USD 7.65 billion by 2033, registering a CAGR of 14.1% from 2026 to 2033, according to a new report by Grand View Research, Inc. Increasing demand for solvents across a wide range of industries globally is anticipated to remain a key factor favoring growth.

The substance is one of the highly used industrial solvents in industries, such as pharmaceuticals, personal care and cosmetics, paints and coatings, and food industry. The chemical is highly preferred in formulating personal hygiene products, including sanitizers, due to its properties of being an excellent disinfectant that works against viruses, bacteria, and other microorganisms.

Isopropyl alcohol (IPA) is the third largest produced lower alcohol globally, after ethanol and methanol. The key applications of isopropyl alcohol is its utility as a solvent in producing various pesticides and herbicides for the agricultural industry, formulating various surface coatings, and producing antiseptic products for personal hygiene industry. Formulations with 70% concentration of IPA against 30% water is proven to be effective as sanitizers by healthcare organizations and other regulatory authorities worldwide.

The recent outbreak of coronavirus is one of the key factors that induced the need for personal hygiene and safety for humans globally. The global pandemic highlighted the use of IPA in formulating hand sanitizers across North America, Middle East, Europe, and Asia Pacific. The first quarter of 2020 reflected high sales of sanitizers, which directly implied hefty consumption of isopropyl alcohol in the marketspace. Companies such as INEOS and ExxonMobil ramped up their production capacities of IPA induced sanitizers in Germany and other parts of Europe. The future demand is expected to be driven by demand stability of polypropylene, which has been one of the major applications.

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Isopropyl Alcohol Market Report Highlights

• Isopropyl alcohol is essential for sterilization and the production of medical devices and pharmaceuticals. These combined factors underscore the robust growth and increasing importance of isopropyl alcohol, highlighting its vital role in maintaining hygiene and healthcare standards.

• The antiseptic and astringent segment led the market with the largest revenue share of 40.8% in 2025, propelled by its widespread use in medical and personal care applications.

• The cleaning agent segment is expected to expand rapidly over the forecast period, driven by its essential role in hygiene and sanitation.

• The pharmaceutical segment led the market with the largest revenue share of 34.5% in 2025, owing to its vital role in healthcare and medical applications.

• The paints and coatings segment is anticipated to grow at the fastest CAGR of 14.2% during the forecast period, driven by its key role as a solvent.

• The isopropyl alcohol market in the North America is expected to grow at a significant CAGR of 12.4% from 2026 to 2033, driven by the region's strong industrial base and advancements in healthcare.

• Asia Pacific dominated the global isopropyl alcohol market with the largest revenue share of 40.4% in 2025 and is anticipated to grow at the fastest CAGR of 17.1% during the forecast period, attributed to fast-paced industrialization and urbanization.

Isopropyl Alcohol Market Segmentation

Grand View Research has segmented the global isopropyl alcohol market report based on application, end use, and region:

Isopropyl Alcohol Application Outlook (Volume, Kilotons; Revenue, USD Million, 2021 - 2033)

• Antiseptic & Astringent

• Cleaning Agent

• Solvent

• Chemical Intermediate

• Other

Isopropyl Alcohol End Use Outlook (Volume, Kilotons; Revenue, USD Million, 2021 - 2033)

• Cosmetics & Personal Care

• Pharmaceutical

• Food and Beverages

• Paints and Coatings

• Chemical

• Other

Isopropyl Alcohol Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2021 - 2033)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Netherlands

  • Italy

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa

  • Saudi Arabia

  • South Africa

List of Key Players in the Isopropyl Alcohol Market

• Dow Chemical

• Mistral Industrial Chemicals

• INEOS Corporation

• ReAgent Chemicals Ltd.

• LyondellBasell Industries

• Linde Gas

• Ecolab

• Royal Dutch Shell

• ExxonMobil Corporation