Global Isopropyl Myristate Market Size By Type (Cosmetic Grade and Industrial Grade), By Application (Personal Care& Cosmetics, Thickening Agents And Pharmaceuticals), By Geographic Scope And Forecast

Isopropyl Myristate Market Size And Forecast

Isopropyl Myristate Market size was valued at USD 70 Million in 2024 and is projected to reach USD 229.7 Million by 2031, growing at a CAGR of 8.32 % during the forecast period 2024-2031.

Isopropyl Myristate Market has noticed a tremendous increase in the last few years due to increasing demand for IPM from various end-use industries, such as personal care & cosmetics, pharmaceuticals, and others. The Global Isopropyl Myristate Market report delivers a holistic market evaluation. The report comprehensively analyzes critical segments, drivers, trends, restraints, competitive landscape, and factors that play an important role in the market.

Global Isopropyl Myristate Market Definition

Isopropyl Myristate is typically a moisturizer with polar characteristics utilized in cosmetics and topical medical preparations to ameliorate skin absorption. Isopropyl Myristate has been primarily studied and impulsed as a skin penetration enhancer. It is an ester used as an emollient and topical delivery agent. It is found as a clear, colorless liquid with a faint odor. IPM has a structure similar to other fatty acid esters, such as triglycerides.

IPM can be derived from natural sources or produced synthetically. Isopropyl Myristate is used in various cosmetic and personal care products, such as skin creams and lotions, makeup, shampoo, and hair conditioner. It can also be found in some pharmaceutical preparations. In cosmetics and personal care products. As a pediculicide, Isopropyl Myristate can physically coat the exoskeleton bodies of lice.

This physical coating subsequently immobilizes the lice and works to dissolve the wax covering on the insect exoskeleton and blocks the insects’ airways, leading to death by dehydration. Although this physical action of Isopropyl Myristate results in little lice resistance (given the lack of immunologic or chemical activity in this mechanism of action), the substance is also not ovicidal, which means any eggs that lice may have laid would not be affected. Moreover, Isopropyl Myristate can elicit its pediculicide action in a contact time of only 10 minutes per each necessary administration.

Global Isopropyl Myristate Market Overview

Growing demand in the cosmetics and personal care industry drives the Isopropyl Myristate Market. The cosmetics and personal care sector is the biggest consumer of Isopropyl Myristate, accounting for over 50% of the total demand. The increasing popularity of skin care and hair care products, especially in emerging economies, thus driving the need for Isopropyl Myristate. In addition, the rising popularity of natural and organic ingredients is also encouraging the market.

The growing tendency to use natural and organic ingredients in personal care products is expected to boost the demand for Isopropyl Myristate derived from natural sources, such as coconut and palm oil. Besides, IPM can act as a penetration enhancer, allowing other active ingredients in skincare products to be absorbed more deeply into the skin. This property makes it a popular ingredient in anti-aging and acne treatments. It helps to improve the spreadability of skincare products, allowing them to be quickly and evenly applied to the skin, which is in high demand.

Further, there has been an increasing demand from pharmaceutical industries. Isopropyl Myristate is majorly used as a carrier and penetration enhancer for transdermal drug delivery systems. It is an ester of myristic acid used as an oil component in pharmaceutical products. IPM is a fast-spreading emulsifier with moisturizing properties and can be used as a solubilizer in creams, lotions, and aerosols. The growing demand for transdermal drug delivery systems is expected to boost the demand for Isopropyl Myristate in the pharmaceutical industry.

However, environmental concerns associated with it might hinder market growth. Isopropyl Myristate is derived from non-renewable sources and can have negative ecological impacts if disposed of improperly. This has led to the development of alternative, sustainable ingredients that could replace Isopropyl Myristate in various applications.

Global Isopropyl Myristate Market Segmentation Analysis

The Global Isopropyl Myristate Market is Segmented on the basis of Type, Application, And Geography.

Isopropyl Myristate Market, By Type

• Cosmetic Grade
• Industrial Grade

We can think of the IPM market as having two main typesCosmetic Grade and Industrial Grade. Right now, the Industrial Grade stuff is really leading the pack, and it's expected to keep growing faster than anything else in the coming years. You'll find industrial-grade IPM in all sorts of places – like cosmetics, pharmaceuticals, and even more! It's also commonly used to thicken things up in paints, coatings, and adhesives. Because it has to meet really strict quality requirements, industrial-grade IPM generally costs more than the cosmetic-grade version. Basically, when we say "industrial grade," we just mean it's a product that's tough enough and reliable enough to be used in industrial settings, meeting all the necessary quality and performance guidelines.

Isopropyl Myristate Market, By Application

• Personal Care& Cosmetics
• Thickening Agent
• Pharmaceuticals
• Other

So, when you look at what Isopropyl Myristate is used for, it really breaks down by Application. We're talking Personal Care & Cosmetics, Thickening Agents, Pharmaceuticals, and, well, Others! And get this, Personal Care & Cosmetics? They were huge in 2021! Think about it – Isopropyl Myristate is everywheremakeup, lotions, skincare creams, shampoos, deodorants, hair conditioners, even perfumes. It's a fantastic emollient and solubilizer. Plus, it makes your skin feel amazing – smooth and lubricated! It even helps hold together powder-based makeup. The only catch? All this buzz around natural & organic cosmetics? That might actually slow things down a bit for this segment in the future.

Isopropyl Myristate Market, By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Let's take a look at the Isopropyl Myristate Market across different regionsNorth America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. We're expecting North America to really lead the way in the global market for Isopropyl Myristate over the next few years. This is thanks to the booming personal care and cosmetics industries there, along with a growing need for thickening agents in various industries. Meanwhile, Latin America is predicted to see steady growth in the market. The demand for IPM in personal care and cosmetics is a big factor, driven by its popularity in those products. Plus, a growing pharmaceutical industry should also give the market a boost in that region. Check out this link for more!

The Asia Pacific, Middle East & Africa are the fastest-growing provinces in the global Isopropyl Myristate Market. The development of these regions can be attributed to the increasing demand for IPM from personal care and cosmetics applications, the growing pharmaceutical industry, and the increase in the number of manufacturers. The market growth of this region can be attributed to the growing demand for IPM from personal care and cosmetics applications.

Key Players

The “Global Isopropyl Myristate Market” study report will provide valuable insight with an emphasis on the global market including some of the major players such as BASF, Akzo Nobel, Kunshan Huaxin Daily Chemicals, Honeywell, NanJing DongDe Chemicals, Shaanxi Top Pharm Chemical, among others.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In February 2021, Croda International, a leading specialty chemical manufacturer, announced the launch of its new range of non-ionic emulsifiers, including Isopropyl Myristate-based emulsifiers. The new range is designed to provide improved formulation flexibility and stability for personal care and pharmaceutical products.
• In October 2020, Oleon, a leading producer of natural-based chemicals, announced the expansion of its Isopropyl Myristate production capacity at its manufacturing site in Ertvelde, Belgium. The growing demand for sustainable ingredients in the cosmetics and personal care industries drove the growth.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Isopropyl Myristate Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. The porter’s five forces model can be used to assess the competitive landscape in Global Isopropyl Myristate Market gauge the attractiveness of a certain sector, and assess investment possibilities.

Report Scope

Research Methodology of Market Research