H1 2023: In H1 2023, the leading producers of Isopropyl Alcohol (IPA) across the Asia Pacific region were Deepak Fertilizers and Petrochemicals Corporation Ltd., Deepak Phenolics Ltd., and Super Chemical. Based on production capacity, Deepak Fertilizers and Petrochemicals Corporation Ltd., was leading across the Asia Pacific region in H1 2023. In the Asia Pacific region, IPA prices faced fluctuations in H1 2023. Isopropyl alcohol prices fell in early January 2023 due to weak demand from IPA-consuming sectors such as pharmaceuticals, paints, and chemicals. Other contributing factor was ample supply from distributors and a decline in the prices of propylene. But, from early February 2023, IPA prices rose rapidly and continued to rise until March 2023. The hike in price can be attributed to higher purchasing activity in the region, high transaction volumes, and elevated IPA plant operating costs in the region. In the Chinese market, IPA prices rose till April 2023 then declined continuously from the end of April to June 2023. The primary cause behind the downfall of IPA prices in China was a decline of orders by the consumers in the domestic market. End-user industries like pharmaceutical and personal care products didn’t display strong demand for IPA from May 2023 to June 2023 in China.
The Asia Pacific Isopropyl Alcohol (IPA) market stood at nearly 1100 thousand tonnes in 2022 and is expected to grow at a steady CAGR of 4.80% during the forecast period until 2030. The rise in demand for Isopropyl Alcohol (IPA) as a solvent in numerous downstream industries such as such as pharmaceuticals and paints and coatings are likely to boost the growth of isopropyl alcohol in the Asia Pacific region.
Isopropyl alcohol is a chemical compound that is colorless, flammable, and has a distinct alcoholic odour. The molecule is produced by either direct or indirect hydration of propene with water. Isopropyl alcohol has a high vapour pressure and is extremely flammable. Since it is completely miscible in water, this substance can be used as a solvent for a variety of materials, including acrylic and epoxy resins, ethyl cellulose, natural resins, gums, polyvinyl butyral, alkaloids, and other essential oils. 70% IPA is used for a variety of purposes, including as an astringent, cleaning agent, owing to its disinfecting nature. Alcohol swabs and wipes for wound cleaning, hand sanitizers, and ear drops are some of the items manufactured using 70% IPA. IPA is extensively used as a disinfectant in the manufacturing of electronics or medical devices, clean rooms, hospitals, and health centers. IPA also finds its use as a chemical intermediate to produce it including acetone, methyl isobutyl ketone (MIBK), glycerol, and bisphenol A, which are further employed by numerous downstream industries.
The Asia Pacific isopropyl alcohol market is expanding primarily as a result of rising demand for the substance in the production of pharmaceutical products. With high consumption of isopropyl alcohol as a solvent across several end-user industries including paints and coatings, the IPA market is likely to significantly expand in the Asia-Pacific region backed up by development and progress in public infrastructure across developing nations like India and China. Besides, the increased use of IPA in the pharmaceutical sector on account of the surge in demand for disinfectants, hand sanitizers, surface cleaners, and other hygiene products is bolstering the growth of Isopropyl Alcohol during the forecast period. The Isopropyl Alcohol market is expected to reach 1600 thousand tonnes in the year 2030. Owing to significant investments made by the major players in the pharmaceutical and petrochemical industries, APAC is the primary manufacturer of IPA worldwide. As the need for IPA increases globally, China and India are also adding significantly to the expanding isopropyl alcohol demand.
Based on the end-user industry, the Asia Pacific Isopropyl Alcohol (IPA) market is segregated into Pharmaceuticals, Chemicals, Paints and coatings, Cosmetics, and Others. Isopropyl Alcohol (IPA) is primarily consumed by the Pharmaceuticals sector. About 45% of the market was consumed by this sector in 2022. IPA is extensively used in producing bath products, aftershave lotions, cosmetics, hair care, skin care, and nail care products.
Major players in the Asia Pacific Isopropyl Alcohol (IPA) are Deepak Fertilizers and Petrochemicals Corporation Ltd., Deepak Phenolics Ltd, Super chemical, Kellin Chemical, Jiande Xinhua Chemical, CNPC Jinzhou Peterochemical, Dongying Hi Tech Spring Chemical, Shell Eastern Petroleum Pte Ltd, LG Chem, Isu Chemicals, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2030
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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 Asia Pacific 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 Asia Pacific 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 Asia Pacific Isopropyl Alcohol (IPA) market over the coming years.
ChemAnalyst calculated Isopropyl Alcohol (IPA) demand in the Asia Pacific region by analyzing the historical data and demand forecast which was carried out considering the consumption of Isopropyl Alcohol (IPA) by the end-user industries. 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) s 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, Asia Pacific Isopropyl Alcohol (IPA) market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
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Details
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Market size Volume in 2022
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1100 thousand tonnes
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Market size Volume by 2030
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1600 thousand tonnes
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Growth Rate
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CAGR of 4.80% from 2023 to 2030
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Base year for estimation
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2023
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Historic Data
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2015 – 2022
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Forecast period
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2024 – 2030
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Quantitative units
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Demand in thousand tonnes and CAGR from 2023 to 2030
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Report coverage
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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, Foreign Trade, Manufacturing Process, Policy and Regulatory Landscape,
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Segments covered
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By End-Use: (Pharmaceuticals, Chemicals, Paints and coatings, Cosmetics, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
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Regional scope
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China, India, Japan, South Korea, Malaysia, Indonesia, and Rest of APAC
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Pricing and purchase options
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Available Customizations:
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
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