Product
Isopropyl Alcohol Price Trend and Forecast
Isopropyl Alcohol Price Trend and Forecast
Regional Price Overview
Get the latest insights on price movement and trend analysis of Isopropyl Alcohol in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Isopropyl Alcohol Price Trend for the First Half of 2023
Asia
The price trends for isopropyl alcohol remained weak and fluctuated in the first half of 2023. During the initial months, the prices kept low, continuing with the trends seen in Q4’22. However, with the Lunar New Year holidays approaching, the buyers actively hoarded the products, causing the demand and prices to rise simultaneously. These inclined trends continued till mid-Q4; after that, the isopropyl alcohol prices declined.
The reopening of China after the covid shutdowns was rather unpleasant, and the market remained stagnant. The manufacturing sectors started churning products at much faster rates, destabilizing the overall dynamics and causing the prices to crash. The spot prices of Isopropyl alcohol averaged around 1205 USD/MT in the Chinese market. A similar trend was absorbed in the Indian domestic market, where the overall prices seemed flat, averaging 1095 USD/MT in June’23, given the stagnant offtakes in the market.
Europe
In the European region, the price trends for isopropyl alcohol declined in the first half of 2023 due to the weak demand from the downstream end-user sectors. The European traders actively imported products from the Chinese markets in late 2022 in hopes of making huge profits. However, the demand subsided in the domestic market, causing the available products to saturate. As the trade normalized, China dumped its cheap imports in the European market, negatively affecting the price trends.
North America
The isopropyl alcohol market in North America mirrored the trend observed in the Asia-Pacific and Europe. The North American region witnessed a price decline as the domestic demand for the commodity plunged and the product’s stockpiles inclined. The trade activities were weak due to port congestions and supply disruptions. However, the prices inclined slightly in February and, from there, remained almost stagnant.
Analyst Insight
According to Procurement Resource, the price trends for Isopropyl alcohol are estimated to oscillate in the upcoming quarter. The weakened demand combined with overcapacity across a broad swathe of products will continue to affect the chemical industry.
Isopropyl Alcohol Price Trend for the Second Half of 2022
Asia
The market for isopropyl alcohol declined in the last two quarters of 2022 as the demand sector remained weak. The prices of isopropyl alcohol also suffered from disrupted trading activities and poor performance of end-user pharmaceuticals, personal care, and propylene sectors. The low inquiries also supported the price dip, halt in manufacturing processes, and surging inflation rates.
Europe
The price trends for isopropyl alcohol surged in the later months of the third quarter as it gained support from the increasing level of demand and inquiries from the consumer sector. The fourth quarter was, however, not favorable in terms of the prices as the demand slipped and the domestic market performed poorly. The isopropyl alcohol sector moved gradually towards the end of Q4 due to a momentary incline in the feedstock propylene prices and increased offtakes from the pharmaceutical, coatings, and chemical sectors.
North America
The mixed trend in the propylene market affected the prices of isopropyl alcohol in the North American region. The supply in the region remained strong amid the gradual low demand from the end-user sectors. This led to a rise in inventory levels, and thus, the manufacturers halted production to stabilize the supply-demand fundamentals.
Analyst Insight
According to Procurement Resource, the price trends for Isopropyl alcohol are estimated to decline in the upcoming quarter. The global prices of the commodity will be majorly affected by the weak terminal downstream demand amid saturated markets and rising inflation.
Isopropyl Alcohol Price Trend For the First Half of 2022
Asia
The prices of isopropyl alcohol surged throughout the Asia-Pacific region, given the limited stocks amid covid related delays. The prices averaged 1295 USD/MT during the first quarter. With industries temporarily halting production along with port congestions and raised feedstock quotations, isopropyl alcohol prices soared. However, these soaring prices impacted consumer demand affecting the market’s buying potential, thereby crashing the prices.
Europe
The first half of Q1 witnessed a marginal rise in prices owing to high inventory levels and bearish demand. However, the prices surged toward the end of Q1 because of the economic backlash unleashed by the Russia-Ukraine conflict. The robust demand from the paints and coatings sectors further supported the high prices averaging 1535 USD/MT.
These higher prices negatively impacted consumer demand leading to the phenomenon of demand destruction. However, towards the end of Q2, the prices again registered an upward peak as the upward cost pressure relaxed and the demand rebounded.
North America
The solid demand from the pharmaceutical and personal care industries supported the high prices of isopropyl alcohol, averaging 1662 USD/MT FOB Texas. The inflated freight charges, supply shocks, and labour shortages supported the raised prices. These high prices amid the speculations of a global recession triggered cautious buying activity in the market, reducing the offtakes and crashing the prices.
Analyst Insight
According to Procurement Resource, the price trends for isopropyl alcohol will further crash in the upcoming months. The lacklustre demand from the downstream sectors coupled with the easing upstream cost pressure led to stockpiling of products in the market, thereby supporting the lowered prices.
For the Year of 2020
Isopropyl Alcohol (IPA) is a primary ingredient in rubbing alcohol and other common household products like cleansers, disinfectants, and hand sanitizers. The price of IPA normally remains in the range of 1000-1120 USD/MT. However, as the pandemic peaked in 2020, isopropyl alcohol prices rose to 1780 USD/MT.
IPA is used by the pharmaceutical industry. Alcohol swabs and wipes with a 70% concentration of IPA are used to clean wounds. It is also present in several oral mouthwash solutions.
Asia Pacific is one of the fastest-growing markets for this chemical, with China leading the way. Because it is commonly available in the region, it is acquired in bulk at a reasonable price. Furthermore, the growing cosmetics and personal care business, rapid economic expansion, and rising income levels have all contributed to an increase in demand for IPA-based goods.
Procurement Resource provides latest prices of Isopropyl Alcohol. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
About
Isopropyl alcohol appears to be a colourless, flammable chemical molecule with a pungent odour. The most basic sort of secondary alcohol is one in which the alcohol carbon atom is connected to two additional carbon atoms. It is both a structural isomer of 1-propanol and a structural isomer of ethyl methyl ether. It is a frequent constituent in chemical compounds such as antiseptics, disinfectants, and detergents, and is utilised in the creation of a wide range of industrial and domestic chemicals.
Product Details
| Report Features | Details |
| Product Name | Isopropyl Alcohol |
| Industrial Uses | Cosmetic and Personal care, Pharmaceutical, Food and Beverage, Paints and Coatings, Chemical |
| Chemical Formula | C3H8O |
| Synonyms | 2-Propanol, Isopropanol, Isopropyl Alcohol, Rubbing Alcohol |
| Molecular Weight | 60.1 g/mol |
| Supplier Database | The Dow Chemical Company, Exxon Mobil, Shell Chemicals Europe B.V., INEOS Enterprises Group Limited, Super Chemical Technology Co. Ltd |
| Region/Countries Covered | Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece North America: United States and Canada Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru Africa: South Africa, Nigeria, Egypt, Algeria, Morocco |
| Currency | US$ (Data can also be provided in local currency) |
| Supplier Database Availability | Yes |
| Customization Scope | The report can be customized as per the requirements of the customer |
| Post-Sale Analyst Support | 360-degree analyst support after report delivery |
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Production Processes
- Production of Isopropyl Alcohol from Propene
Isopropyl alcohol is made from high-quality (or polymer-grade) propene. Direct hydration of gaseous propene with water in the presence of acidic catalysts is used to produce this product, which is very popular in the United States. As a by-product, propyl alcohol is obtained in relatively small amounts.
Methodology
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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