Share This Page
Drug Price Trends for FT ISOPROPYL RUB ALCOHOL
✉ Email this page to a colleague
Average Pharmacy Cost for FT ISOPROPYL RUB ALCOHOL
| Drug Name | NDC | Price/Unit ($) | Unit | Date |
|---|---|---|---|---|
| FT ISOPROPYL RUB ALCOHOL 70% | 70677-1249-01 | 0.04683 | ML | 2025-06-18 |
| FT ISOPROPYL RUB ALCOHOL 70% | 70677-1251-01 | 0.04683 | ML | 2025-06-18 |
| FT ISOPROPYL RUB ALCOHOL 70% | 70677-1249-01 | 0.04803 | ML | 2025-05-21 |
| FT ISOPROPYL RUB ALCOHOL 70% | 70677-1251-01 | 0.04803 | ML | 2025-05-21 |
| FT ISOPROPYL RUB ALCOHOL 70% | 70677-1249-01 | 0.04858 | ML | 2025-04-23 |
| FT ISOPROPYL RUB ALCOHOL 70% | 70677-1251-01 | 0.04858 | ML | 2025-04-23 |
| FT ISOPROPYL RUB ALCOHOL 70% | 70677-1249-01 | 0.04768 | ML | 2025-03-19 |
| >Drug Name | >NDC | >Price/Unit ($) | >Unit | >Date |
Market Analysis and Price Projections for Isopropyl Alcohol
Introduction to Isopropyl Alcohol
Isopropyl alcohol (IPA), also known as isopropanol, is a versatile chemical compound widely used in various industries, including pharmaceuticals, cosmetics, and cleaning products. Its applications range from being a solvent and cleaning agent to serving as a disinfectant and antiseptic.
Market Size and Growth
The isopropyl alcohol market has demonstrated significant growth in recent years. As of 2023, the market size was valued at USD 6.3 billion and is projected to grow at a CAGR of 6.1% from 2024 to 2032[3].
Key Drivers of Market Growth
Increased Demand for Hygiene Products
The COVID-19 pandemic has been a major driver for the increased demand for isopropyl alcohol, particularly in the production of hand sanitizers and disinfectants. This trend is expected to continue as healthcare facilities and consumers prioritize infection control and hygiene[3][4].
Expanding Use in Cosmetics and Personal Care
IPA is widely used in cosmetic preparations such as creams, lotions, serums, shampoos, and hair conditioners due to its preservative and solvent properties. The growing demand for cosmetic products further boosts the market share of IPA[3].
Industrial Applications
IPA is essential in the manufacturing of flat panel displays and LEDs, and its consumption is increasing in sectors like automotive, packaging, and construction. This diverse range of applications contributes to the market's growth[3].
Price Trends and Projections
Historical Price Trends
During the COVID-19 pandemic, isopropyl alcohol prices surged to as high as 1780 USD/MT in 2020 due to increased demand and supply chain disruptions. In the first half of 2022, prices in the Asia-Pacific region averaged around 1295 USD/MT due to limited stocks and increased feedstock costs[1].
Recent Price Movements
In Q3 2024, the North American IPA market experienced consistent price drops due to ample inventory levels, cheaper propylene feedstock, and sluggish demand from end-user industries. However, in Q4 2023, prices in the United States were expected to rise due to supply chain disruptions, geopolitical tensions, and increased demand from the pharmaceutical sector[1][2].
Future Price Projections
Analysts predict that the prices of isopropyl alcohol will continue to be influenced by global economic conditions, feedstock costs, and demand from downstream sectors. Weak global economic conditions and declining feedstock costs are likely to maintain pressure on the market, leading to a downward trend in prices in the coming months[1].
Regional Market Analysis
Asia-Pacific
The Asia-Pacific region, particularly China and India, has seen fluctuating price trends influenced by raw material costs, downstream demand, and supply chain dynamics. The region is expected to dominate the market due to its large consumer base and growing industrial sectors[1][4].
Europe
In Europe, the price trend for isopropyl alcohol has been weak and fluctuating, influenced by demand from consumer sectors and the impact of the COVID-19 pandemic on manufacturing and supply chains[1].
North America
The North American market has been characterized by strong supply and sluggish demand, leading to inventory build-ups and price drops. However, temporary supply chain disruptions and increased demand from pharmaceutical and other industrial sectors can lead to price increments[1][2].
Challenges and Opportunities
Health Concerns and Regulatory Scrutiny
Health concerns associated with IPA exposure, such as respiratory and skin issues, are prompting regulatory scrutiny. Balancing these health risks with growing demand requires careful management to ensure sustainable growth in the IPA market[3].
Innovation in Bio-Based IPA
Innovation in bio-based isopropyl alcohol is likely to create new opportunities for the market, offering a more sustainable alternative to traditional IPA production[4].
Availability of Substitute Products
The availability of substitute products remains a concern for the IPA market, as it could impact demand and market share[4].
Industry Expert Insights
"The COVID-19 pandemic has spurred a surge in demand for hand sanitizers and disinfectants, where IPA is a critical component. Concurrently, there is an increasing demand for cosmetic products, with IPA being used in formulations and as a solvent in the cosmetic and personal care industries."
- Industry Expert, ChemAnalyst[3].
Supply Chain Dynamics
Supply chain disruptions, including temporary closures of manufacturing units, transportation restrictions, and geopolitical tensions, have significantly impacted IPA prices. These disruptions can lead to acute shortages and price increments, as seen in Q4 2023 in the United States[2].
Key Takeaways
- Market Growth: The isopropyl alcohol market is expected to grow at a CAGR of 6.1% from 2024 to 2032.
- Price Trends: Prices are likely to continue their downward trend due to weak global economic conditions and declining feedstock costs.
- Regional Dominance: The Asia-Pacific region is expected to dominate the market.
- Challenges: Health concerns and regulatory scrutiny, along with the availability of substitute products, are key challenges.
- Opportunities: Innovation in bio-based IPA and increasing demand from pharmaceutical and cosmetic industries offer growth opportunities.
FAQs
Q: What are the primary drivers of the isopropyl alcohol market? A: The primary drivers include increased demand for hygiene products due to the COVID-19 pandemic, expanding use in cosmetics and personal care, and industrial applications.
Q: How have recent supply chain disruptions affected IPA prices? A: Recent supply chain disruptions, including temporary closures and transportation restrictions, have led to acute shortages and price increments, particularly in Q4 2023 in the United States.
Q: What are the health concerns associated with isopropyl alcohol? A: Health concerns include respiratory and skin issues, prompting regulatory scrutiny and the need for safer usage practices.
Q: Which region is expected to dominate the IPA market? A: The Asia-Pacific region is expected to dominate the market due to its large consumer base and growing industrial sectors.
Q: What are the future price projections for isopropyl alcohol? A: Analysts predict that IPA prices will continue to be influenced by global economic conditions, feedstock costs, and demand from downstream sectors, leading to a likely downward trend in prices.
Sources
- Procurement Resource - Isopropyl Alcohol Price Trend and Forecast[1]
- ChemAnalyst - USA Isopropyl Alcohol Prices Expected to Rise as Q4 2023 Commences[2]
- GMI Insights - Isopropyl Alcohol Market Size, Share & Growth Report - 2032[3]
- Mordor Intelligence - Isopropyl Alcohol (IPA) Market Size[4]
More… ↓
