Drug Price Trends for HM ISOPROPYL ALCOHOL

Average Pharmacy Cost for HM ISOPROPYL ALCOHOL

These are average pharmacy acquisition costs (net of discounts) from a US national survey

Drug Name	NDC	Price/Unit ($)	Unit	Date
HM ISOPROPYL ALCOHOL 70%	62011-0266-01	0.04683	ML	2025-06-18
HM ISOPROPYL ALCOHOL 91%	62011-0272-01	0.06184	ML	2025-06-18
HM ISOPROPYL ALCOHOL 70%	62011-0266-01	0.04803	ML	2025-05-21
HM ISOPROPYL ALCOHOL 91%	62011-0272-01	0.06144	ML	2025-05-21

Isopropyl Alcohol Market Analysis and Price Projections

Last updated: January 6, 2025

Market Overview

Isopropyl alcohol (IPA), also known as isopropanol or 2-propanol, is a versatile chemical compound with widespread applications across various industries, including healthcare, cosmetics, pharmaceuticals, and industrial manufacturing. Here is a comprehensive analysis of the IPA market and its price projections.

Market Size and Growth

The global isopropyl alcohol market has been experiencing significant growth, driven by several key factors. As of 2023, the market size was valued at USD 6.3 billion and is anticipated to grow at a CAGR of over 6.1% between 2024 and 2032[1].

By 2032, the market is projected to reach USD 5.9 billion, growing at a CAGR of 8.1% from 2023 to 2032. This growth is largely attributed to the expanding demand for disinfectants and sanitizers, particularly in the healthcare, food service, and personal care sectors[4].

Key Drivers of Market Growth

Increasing Demand for Disinfectants and Sanitizers

The COVID-19 pandemic has significantly boosted the demand for IPA, as it is a critical component in hand sanitizers and disinfectants. The global emphasis on hygiene and health has further accelerated this demand, making IPA a vital ingredient in maintaining public health and safety[4].

Growing Utilization in Pharmaceutical and Healthcare Industries

IPA is widely used as a disinfectant and solvent in various medical processes. The pharmaceutical industry's growing need for IPA in drug manufacturing and the healthcare sector's emphasis on infection control are driving market growth[3][4].

Expanding Applications in Personal Care and Cosmetics

IPA is used as a preservative and solvent in cosmetic and personal care products such as creams, lotions, serums, shampoos, and hair conditioners. The increasing demand for these products is contributing to the market's expansion[1].

Technological Advancements and Innovation

Innovation in bio-based IPA is expected to create new opportunities for the market. The development of sustainable and environmentally friendly IPA alternatives is gaining traction, which could further drive market growth[3].

Regional Market Analysis

Asia-Pacific

The Asia-Pacific region is expected to dominate the IPA market, driven by the rapid expansion of the pharmaceutical and healthcare sectors. The region is projected to achieve significant growth, with a CAGR of 7.2% from 2024 to 2032, due to the increasing demand for high-quality disinfectants and sanitizing solutions[1].

North America and Europe

In North America, the IPA market has experienced consistent price drops in recent quarters due to ample inventory levels, cheaper propylene feedstock, and sluggish demand from end-user industries. Europe is also expected to see oscillating price trends due to weakened demand and overcapacity in the chemical industry[2].

Price Trends and Projections

Current Price Trends

The prices of IPA have been volatile in recent times. In the third quarter of 2024, prices in China dropped from around 1169 USD/MT in July to 962 USD/MT in September, reflecting a downward trend due to tepid demand and declining feedstock propylene costs[2].

In North America, IPA prices experienced a steady decline in June 2024 due to decreased demand from downstream derivatives and sufficient supply of feedstock. This decline was also influenced by the restart of a major derivative unit and stabilization in propylene supply[5].

Future Price Projections

Analysts predict that IPA prices will continue their downward trend in the coming months. Factors such as weak global economic conditions, declining feedstock costs, and sufficient supply availability are expected to maintain pressure on the market fundamentals. However, challenges such as trade disruptions, uneven pricing patterns of feedstock chemicals, and rising crude oil prices could impact future price trends[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 while addressing safety and regulatory issues effectively[1].

Availability of Substitute Products

The availability of substitute products for IPA remains a major concern for the market. However, the unique properties of IPA, such as its high performance, sanitizing, and preservative characteristics, make it a preferred choice in many applications[3].

Innovation and Sustainability

Innovation in bio-based IPA and the development of sustainable production methods are expected to create new opportunities for the market. These advancements could help mitigate environmental and health concerns associated with traditional IPA production[3].

Key Market Players

Major players operating in the global IPA market include INEOS Group, Dow Chemical, ReAgent Chemicals Ltd, Linde Gas, LyondellBasell, Ecolab, Huntsman Company, Royal Dutch Shell, ExxonMobil Corporation, and Mistral Industrial Chemicals. These companies are focusing on innovation, expanding production capacities, and meeting the rising demand for IPA[4].

Conclusion

The isopropyl alcohol market is poised for sustained growth, driven by increasing demand from the healthcare, pharmaceutical, and personal care sectors. While challenges such as health concerns and regulatory scrutiny need to be addressed, innovations in bio-based IPA and sustainable production methods offer promising opportunities. Price trends are expected to stabilize or decline in the short term due to sufficient supply and declining feedstock costs, but long-term growth prospects remain strong.

Key Takeaways

• Market Growth: The IPA market is expected to grow at a CAGR of 6.1% to 8.1% from 2023 to 2032.
• Key Drivers: Increasing demand for disinfectants and sanitizers, growing utilization in pharmaceutical and healthcare industries, and expanding applications in personal care.
• Regional Dominance: Asia-Pacific is expected to dominate the market due to rapid expansion in the pharmaceutical and healthcare sectors.
• Price Trends: Prices are expected to decline in the short term due to sufficient supply and declining feedstock costs.
• Challenges and Opportunities: Health concerns and regulatory scrutiny are challenges, while innovation in bio-based IPA and sustainable production methods offer opportunities.

FAQs

Q: What is the current market size of the isopropyl alcohol market? A: The global isopropyl alcohol market size was valued at USD 6.3 billion in 2023[1].

Q: What is the projected growth rate of the isopropyl alcohol market? A: The market is expected to grow at a CAGR of 6.1% to 8.1% from 2023 to 2032[1][4].

Q: Which region is expected to dominate the isopropyl alcohol market? A: The Asia-Pacific region is expected to dominate the market due to the rapid expansion of the pharmaceutical and healthcare sectors[1].

Q: What are the primary drivers of the isopropyl alcohol market? A: The primary drivers include increasing demand for disinfectants and sanitizers, growing utilization in pharmaceutical and healthcare industries, and expanding applications in personal care[4].

Q: What challenges does the isopropyl alcohol market face? A: Health concerns associated with IPA exposure and the availability of substitute products are major challenges for the market[1][3].

Sources

1. GMI Insights: Isopropyl Alcohol Market Size, Share & Growth Report - 2032
2. Procurement Resource: Isopropyl Alcohol Price Trend and Forecast
3. Mordor Intelligence: Isopropyl Alcohol Market Size & Share Analysis
4. Allied Market Research: Isopropyl Alcohol Market Size, Share | Industry Growth Report, 2032
5. ChemAnalyst: U.S. Isopropyl Alcohol Prices Finally See Relief After Months of Increases