Report Overview

Vietnam Iso Propyl Alcohol (IPA) Market – Industry Trends & Forecast Report, 2031

Vietnam Iso Propyl Alcohol (IPA) Market size was estimated at USD 49.87 million in 2024. During the forecast period from 2025 to 2031, Vietnam Iso Propyl Alcohol (IPA) Market size is projected to grow at a CAGR of 7.90%, reaching a value of USD 84.92 million by 2031. The expansion of Vietnam Iso Propyl Alcohol (IPA) Market is driven by rising health and hygiene awareness, especially post-pandemic, fueling demand for disinfectants and sanitizers. Expanding pharmaceutical and healthcare sectors require high-purity solvents for sterilization and drug production. Additionally, the booming electronics industry leverages IPA for precision cleaning due to its fast evaporation and non-residual properties. Growth in personal care and cosmetic applications, coupled with industrial recovery and stricter hygiene standards, further accelerates IPA consumption across multiple end-use sectors.

Iso Propyl Alcohol (IPA) – Overview

Iso Propyl Alcohol (IPA), also known as isopropanol, is a colorless, flammable chemical compound with a strong odor and formula C₃H₈O. Widely used as a solvent and disinfectant, IPA is miscible with water and evaporates quickly, making it ideal for cleaning, sterilization, and industrial applications. It is synthesized via hydration of propene or the hydrogenation of acetone. IPA plays a vital role in pharmaceuticals, electronics, cosmetics, and household products due to its antimicrobial properties and versatility.

Vietnam Iso Propyl Alcohol (IPA) Market 

Growth Drivers

Rising Demand for Sanitizers and Disinfectants

Vietnam Iso Propyl Alcohol (IPA) Market is witnessing strong growth, due to a heightened demand for sanitizers and disinfectants, driven by increased hygiene awareness post-pandemic. IPA’s fast evaporation and antimicrobial properties make it a preferred ingredient in hand sanitizers, surface cleaners, and medical-grade disinfectants. As healthcare protocols tighten and consumer preferences shift toward germ-free environments, industries are scaling up IPA usage, reinforcing IPA’s role as a critical solvent in both commercial and household sanitation products.

Challenges

Volatility in Raw Material Prices

Vietnam Iso Propyl Alcohol (IPA) Market faces a significant growth restraint due to fluctuations in raw material prices, particularly propylene, a key feedstock. Global supply chain disruptions, crude oil price instability, and geopolitical tensions contribute to unpredictable cost structures. These price swings impact production margins and hinder long-term planning for manufacturers. As a result, companies operating in Vietnam must navigate cost pressures and sourcing challenges, which can affect competitiveness and limit expansion in Vietnam Iso Propyl Alcohol (IPA) Market.

Impact of Escalating Geopolitical Tensions on Vietnam Iso Propyl Alcohol (IPA) Market 

Intensifying geopolitical tensions among major economies have disrupted global supply chains, impacting the availability and pricing of raw materials like propylene used in IPA production. For Vietnam, this leads to increased import costs, production delays, and uncertainty in procurement strategies. Trade restrictions and regional instability further complicate sourcing from key international suppliers. These pressures challenge domestic manufacturers and may hinder growth in sectors reliant on IPA, such as healthcare, electronics, and personal care, ultimately affecting market stability and competitiveness. Consequently, escalating geopolitical tensions could affect the growth of Vietnam Iso Propyl Alcohol (IPA) Market.

Vietnam Iso Propyl Alcohol (IPA) Market 

Segmental Coverage

Vietnam Iso Propyl Alcohol (IPA) Market – By Application

By application, Vietnam Iso Propyl Alcohol (IPA) Market is divided into Solvents, Cleaning Agents, and Chemical Intermediates segments. The solvents segment represents the largest application in Vietnam Iso Propyl Alcohol (IPA) Market. The segment’s market dominance is driven by extensive use across pharmaceuticals, electronics, and industrial manufacturing. IPA’s versatility as a solvent in paints, coatings, inks, and adhesives fuels demand, especially with Vietnam’s expanding construction and packaging sectors. Its role in high-purity applications like semiconductor cleaning and personal care formulations further strengthens this segment’s dominance. The solvent segment benefits from IPA’s cost-effectiveness, compatibility, and rising hygiene standards post-pandemic.

Vietnam Iso Propyl Alcohol (IPA) Market – By End Use Industry

On the basis end use industry, Vietnam Iso Propyl Alcohol (IPA) Market is divided into Pharmaceuticals & Healthcare, Electronics & Semiconductors, Cosmetics & Personal Care segments. Pharmaceuticals & healthcare is the largest segment in Vietnam Iso Propyl Alcohol (IPA) Market by end use industry. The segment’s dominance is due to IPA’s critical role in sterilization, disinfection, and medical device production. Its effectiveness against bacteria and viruses makes it indispensable in hospitals, clinics, and laboratories. Post-pandemic hygiene awareness and expanding healthcare infrastructure continue to drive demand. IPA’s use in antiseptics, sanitizers, and surgical applications ensures this segment remains dominant across consumer and institutional markets.

Vietnam Iso Propyl Alcohol (IPA) Market – By Distribution Channel

Based on distribution channel, Vietnam Iso Propyl Alcohol (IPA) Market is divided into Direct Sales, Distributors & Wholesalers, and Online Retail segments. The distributors & wholesalers segment is the largest distribution channel in Vietnam Iso Propyl Alcohol (IPA) Market, due to their extensive reach across industrial and commercial sectors. These intermediaries facilitate bulk procurement and efficient supply chain management, catering to diverse end-use industries like healthcare, electronics, and personal care. Their established networks and logistical capabilities ensure consistent availability and competitive pricing. As IPA demand grows post-pandemic, distributors play a pivotal role in meeting large-scale requirements and maintaining market stability across Vietnam.

Competitive Landscape

Major companies operating in Vietnam Iso Propyl Alcohol (IPA) Market include Dow Chemical Company, LyondellBasell Industries, Royal Dutch Shell, ExxonMobil Corporation, Mitsui Chemicals, LG Chem, Sasol Limited, Tokuyama Corporation, ISU Chemical, Deepak Fertilisers and Petrochemicals Corporation Ltd, and Manali Petrochemicals Ltd. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

By Application

• Solvents

• Cleaning Agents

• Chemical Intermediates  

By End Use Industry

• Pharmaceuticals & Healthcare

• Electronics & Semiconductors

• Cosmetics & Personal Care 

By Distribution Channel

• Direct Sales

• Distributors & Wholesalers

• Online Retail

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. Vietnam Iso Propyl Alcohol (IPA) Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Rising Demand for Sanitizers and Disinfectants
         2. Expansion of Pharmaceutical and Healthcare Industries
         3. Growth in Electronics Manufacturing and Precision Cleaning              
      2. Restraints
         1. Volatility in Raw Material Prices
         2. Stringent Environmental Regulations
         3. Limited Domestic Production Capacity  
      3. Opportunities
         1. Increasing Investment in High-Purity IPA for Semiconductors
         2. Emerging Demand from Cosmetics and Personal Care Sector        
      4. Challenges
         1. Regulatory Compliance and Safety Standards
         2. Competition from Low-Cost Imports
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. Vietnam Iso Propyl Alcohol (IPA) Market: Marketing Strategies
5. Vietnam Iso Propyl Alcohol (IPA) Market: Pricing Analysis
6. Vietnam Iso Propyl Alcohol (IPA) Market Overview
   1. Market Size & Forecast, 2019–2031
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Application
         1. Solvents
         2. Cleaning Agents
         3. Chemical Intermediates  
      2. By End Use Industry
         1. Pharmaceuticals & Healthcare
         2. Electronics & Semiconductors
         3. Cosmetics & Personal Care 
      3. By Distribution Channel
         1. Direct Sales
         2. Distributors & Wholesalers
         3. Online Retail
7. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Nigeria Insurance Company Market Share Analysis, 2024
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships)
8. Impact of Escalating Geopolitical Tensions on Vietnam Iso Propyl Alcohol (IPA) Market
9. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
   1. Dow Chemical Company
   2. LyondellBasell Industries
   3. Royal Dutch Shell
   4. ExxonMobil Corporation
   5. Mitsui Chemicals
   6. LG Chem
   7. Sasol Limited
   8. Tokuyama Corporation
   9. ISU Chemical
   10. Deepak Fertilisers and Petrochemicals Corporation Ltd
   11. Manali Petrochemicals Ltd
   12. Other Prominent Players
10. Key Strategic Recommendations
11. Research Methodology
    1. Qualitative Research
       1.  Primary & Secondary Research
    2.   Quantitative Research
    3.   Market Breakdown & Data Triangulation
       1.  Secondary Research
       2.  Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    5.   Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

List of Figures

Figure 1       Vietnam Iso Propyl Alcohol (IPA) Segmentation

Figure 2       Vietnam Iso Propyl Alcohol (IPA) Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2024

Figure 4       Vietnam Iso Propyl Alcohol (IPA) Market Size, By Value (USD Million), 2019–2031

Figure 5       Vietnam Iso Propyl Alcohol (IPA) Market Share, By Application, By Value, 2019–2031

Figure 6       Vietnam Iso Propyl Alcohol (IPA) Market Share, By End Use Industry, By Value, 2019–2031

Figure 7       Vietnam Iso Propyl Alcohol (IPA) Market Share, By Distribution Channel, By Value, 2019–2031

Figure 6       Vietnam Iso Propyl Alcohol (IPA) Market Share, By Value, 2019–2031

List of Tables

Table 1        Vietnam Iso Propyl Alcohol (IPA) Market Size, By Value (USD Million), 2019–2031

Table 2        Vietnam Iso Propyl Alcohol (IPA) Market Size, By Application, By Value, 2019–2031

Table 3        Vietnam Iso Propyl Alcohol (IPA) Market Size, By End Use Industry, By Value, 2019–2031

Table 4        Vietnam Iso Propyl Alcohol (IPA) Market Size, By Distribution Channel, By Value, 2019–2031

Table 5        Vietnam Iso Propyl Alcohol (IPA) Market Size, By Value, 2019–2031

Table 6 Dow Chemical Company: Company Overview

Table 7 Dow Chemical Company Financial Overview

Table 8 LyondellBasell Industries Company Overview

Table 9 LyondellBasell Industries Financial Overview

Table 10 Royal Dutch Shell Company Overview

Table 11 Royal Dutch Shell Financial Overview

Table 12 ExxonMobil Corporation Company Overview

Table 13 ExxonMobil Corporation Financial Overview

Table 14 Mitsui Chemicals Company Overview

Table 15 Mitsui Chemicals Financial Overview

Table 16 LG Chem Company Overview

Table 17 LG Chem Financial Overview

Table 18 Sasol Limited Company Overview

Table 19 Sasol Limited Financial Overview

Table 20 Tokuyama Corporation Company Overview

Table 21 Tokuyama Corporation Financial Overview

Table 22 ISU Chemical Company Overview

Table 23 ISU Chemical Financial Overview

Table 24 Deepak Fertilisers and Petrochemicals Corporation Ltd Company Overview

Table 25 Deepak Fertilisers and Petrochemicals Corporation Ltd Financial Overview

Table 26 Manali Petrochemicals Ltd Company Overview

Table 27 Manali Petrochemicals Ltd Financial Overview