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Last Updated: February 10, 2025

Drug Price Trends for SM ISOPROPYL ALCOHOL


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Drug Price Trends for SM ISOPROPYL ALCOHOL

Average Pharmacy Cost for SM ISOPROPYL ALCOHOL

These are average pharmacy acquisition costs (net of discounts) from a US national survey
Drug Name NDC Price/Unit ($) Unit Date
SM ISOPROPYL ALCOHOL 70% 49348-0173-38 0.04537 ML 2025-01-22
SM ISOPROPYL ALCOHOL 70% 49348-0175-38 0.04537 ML 2025-01-22
SM ISOPROPYL ALCOHOL 70% 49348-0175-38 0.04471 ML 2024-12-18
SM ISOPROPYL ALCOHOL 70% 49348-0173-38 0.04471 ML 2024-12-18
SM ISOPROPYL ALCOHOL 70% 49348-0175-38 0.04507 ML 2024-11-20
SM ISOPROPYL ALCOHOL 70% 49348-0173-38 0.04507 ML 2024-11-20
>Drug Name >NDC >Price/Unit ($) >Unit >Date

Isopropyl Alcohol Market Analysis and Price Projections

Market Overview

Isopropyl alcohol, 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 market and price projections for isopropyl alcohol.

Market Size and Growth

The global isopropyl alcohol market has been experiencing significant growth driven by increasing demand for disinfectants and sanitizers. As of 2022, the market size was valued at $2.7 billion and is projected to reach $5.9 billion by 2032, growing at a CAGR of 8.1% from 2023 to 2032[1].

Another report indicates that the market is expected to reach $5.1 billion by 2030, growing at a CAGR of 7.8% from 2022[4].

Key Drivers

Increasing Demand for Disinfectants and Sanitizers

The global emphasis on hygiene and health, particularly heightened during health crises like the COVID-19 pandemic, has significantly driven the demand for isopropyl alcohol. Its strong antiseptic properties make it a key ingredient in many disinfectant formulations used in healthcare, households, and public spaces[1].

Pharmaceutical and Healthcare Sectors

The pharmaceutical industry is a major consumer of isopropyl alcohol, using it for sterilization, cleaning, and the formulation of various pharmaceutical products. The rising population and increasing healthcare awareness in regions like Asia-Pacific contribute to the growing demand for isopropyl alcohol[1].

Personal Care and Cosmetics

Isopropyl alcohol is also widely used in the personal care and cosmetics industry due to its solvent and disinfectant properties. Increasing disposable incomes, population growth, and changes in consumer lifestyles are driving the growth of this sector[4].

Restraints and Challenges

Raw Material Costs and Supply Chain Disruptions

One of the significant restraining factors is the dependency on raw material prices, particularly the cost of propylene, which is a key feedstock in isopropyl alcohol production. Fluctuations in propylene prices directly impact the production costs of isopropyl alcohol, leading to uncertainties in the cost structure for manufacturers and affecting their profit margins[1].

Regulatory Scrutiny and Environmental Concerns

Stringent regulations governing the production, handling, and disposal of isopropyl alcohol impose additional compliance costs on manufacturers. Environmental concerns also pose challenges, as the production process can be polluting and energy-intensive[1].

Price Trends and Projections

Historical Price Trends

During the COVID-19 pandemic, the price of isopropyl alcohol surged to $1780 USD/MT in 2020, significantly higher than its normal range of $1000-1120 USD/MT. This was due to high demand and supply chain disruptions[2].

In the first half of 2022, prices in the Asia-Pacific region surged due to limited stocks and COVID-related delays, averaging $1295 USD/MT. However, prices later declined due to weak demand and declining feedstock costs[2].

Current and Future Price Projections

As of Q3 2024, the prices of isopropyl alcohol have been experiencing a downward trend. In China, prices dropped from $1169 USD/MT in July 2024 to $962 USD/MT in September 2024 due to tepid demand and declining feedstock costs[2].

In North America, prices have also seen a decline due to ample inventory levels, cheaper propylene feedstock, and sluggish demand from end-user industries. Analysts predict that prices will continue their downward trend in the coming months due to weak global economic conditions and sufficient supply availability[2][5].

Regional Analysis

Asia-Pacific

The Asia-Pacific region has garnered the largest share of the isopropyl alcohol market, driven by the expansion of the pharmaceutical and healthcare sectors. The rising population and increasing healthcare awareness in this region contribute significantly to the demand for isopropyl alcohol[1].

North America and Europe

North America and Europe also represent significant markets, although they have been experiencing price drops due to ample inventory levels and weaker demand from downstream sectors. The restart of production units and stabilization of propylene supply have further contributed to the price decline in these regions[2][5].

Competitive Landscape

The global isopropyl alcohol market is competitive, with major players including Mistral Industrial Chemicals, Dow Chemical, Linde Gas, INEOS Corporation, Ecolab, Royal Dutch Shell, ExxonMobil Corporation, ReAgent Chemicals Ltd., and LyondellBasell Industries. These companies are focusing on innovation and compliance with regulatory standards to maintain their market share[1].

Technological Advancements

Advancements in technology, such as the use of catalytic hydrogenation of acetone, are enabling more efficient and high-purity production of isopropyl alcohol. Innovation in bio-based isopropyl alcohol is also expected to create new opportunities for the market in the coming years[4].

Key Takeaways

  • The global isopropyl alcohol market is projected to grow significantly, driven by demand from the healthcare, pharmaceutical, and personal care sectors.
  • Raw material costs and supply chain disruptions are key challenges affecting the market.
  • Prices are expected to continue their downward trend in the coming months due to weak global economic conditions and sufficient supply availability.
  • The Asia-Pacific region dominates the market due to its expanding pharmaceutical and healthcare sectors.
  • Technological advancements and innovation in bio-based isopropyl alcohol are expected to drive future growth.

FAQs

1. What are the primary drivers of the isopropyl alcohol market?

The primary drivers include the increasing demand for disinfectants and sanitizers, growth in the pharmaceutical and healthcare sectors, and rising demand from the personal care and cosmetics industry.

2. What are the major restraints affecting the isopropyl alcohol market?

Major restraints include the dependency on raw material prices, particularly propylene, regulatory scrutiny, and environmental concerns.

3. How has the COVID-19 pandemic impacted the isopropyl alcohol market?

The COVID-19 pandemic significantly increased demand for isopropyl alcohol due to its use in disinfectants and sanitizers, leading to price surges and supply chain disruptions.

4. Which region dominates the isopropyl alcohol market?

The Asia-Pacific region dominates the market due to the expansion of the pharmaceutical and healthcare sectors in this region.

5. What are the future price projections for isopropyl alcohol?

Prices are expected to continue their downward trend in the coming months due to weak global economic conditions, declining feedstock costs, and sufficient supply availability.

Cited Sources:

  1. Allied Market Research - Isopropyl Alcohol Market Size, Share | Industry Growth Report, 2032
  2. Procurement Resource - Isopropyl Alcohol Price Trend and Forecast
  3. Mordor Intelligence - Isopropyl Alcohol Market Size & Share Analysis
  4. MarketsandMarkets - Isopropyl Alcohol Market Share, Size, Trends - 2022-2030
  5. ChemAnalyst - U.S. Isopropyl Alcohol Prices Finally See Relief After Months of Increases

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