Isopropyl Myristate Market: Global Industry Analysis and Forecast (2024-2030)

Isopropyl Myristate Market Overview

Isopropyl Myristate is a moisturizer with polar characteristics used in cosmetics and topical medical preparations to improve skin absorption. It is an ester used as an emollient and topical delivery agent, and derived from natural sources or synthetically. IPM is used in various cosmetic and personal care products, including skin creams, lotions, makeup, shampoo, and hair conditioner. It also be found in some pharmaceutical preparations. As a pediculicide, Isopropyl Myristate physically coats the exoskeleton bodies of lice. The cosmetics and personal care sector is the biggest consumer of Isopropyl Myristate, accounting for over XX% of the total demand.

The increasing popularity of skin care and hair care products, especially in emerging economies, drives the need for Isopropyl Myristate. The growing trend of using 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. IPM also acts as a penetration enhancer, allowing other active ingredients in skincare products to be absorbed more deeply into the skin, making it a popular ingredient in anti-aging and acne treatments.

To get more Insights: Request Free Sample Report

Isopropyl Myristate Market Dynamics:

The Isopropyl Myristate (IPM) market is booming because of the dominance of the Cosmetics and Personal Care industry. IPM, a flexible soothing and thickening agent, is in high demand for its skin-conditioning properties in several cosmetic and personal care products. The industry's focus on producing high-quality inventions to meet evolving customer preferences for smooth qualities and improved product performance adds to the fixed growth of the IPM market. As skincare trends gain prominence, IPM's role in formulating products that provide desirable sensory experiences aligns with a discerning consumer base, making it a pivotal ingredient in the dynamic landscape of the cosmetics and personal care sector.

The growing demand for sustainable and natural alternatives in the industry influences the growth of IPM. Its versatile applications as an emollient and thickening agent, coupled with its potential use in natural formulations, position it favorably. This trend reflects an industry-wide commitment to environmentally conscious practices, driving the growth of IPM as a choice ingredient in formulations that balance effectiveness with sustainability.

The alternative ingredients pose a significant challenge to the demand for IPM. Environmental concerns also impact the market growth of Isopropyl Myristate, as government agencies enforce different laws and safety standards in the chemical sector. As consumer awareness of environmental issues grows, there is a greater demand for environmentally friendly and sustainable products.

Cosmetic and pharmaceutical manufacturers are constantly innovating to develop new products and formulations, including exploring alternative emollients that offer superior performance to Isopropyl Myristate (IPM). Consumer preferences towards safer, more natural, and sustainable ingredients are driving the adoption of these alternatives, potentially reducing the demand for IPM. Also, regulatory restrictions or safety worries prompt producers to seek another ingredient that complies with guiding requirements, more impacting the demand for IPM.

The pharmaceutical industry's growing need for chemicals like IPM is a result of two factors population increase and rising healthcare costs. These factors have also contributed to the industry's growth. IPM is an essential component of these drugs. Also, to mention, IPM's versatility in drug compositions adds to its increasing demand. It is found in a variety of topical medicines, such as anti-inflammatory creams, pain relief gels, dermatological treatments, and cosmetics formulations, because of its compatibility with other pharmacological chemicals. IPM is a crucial component of topical treatments, and demand for it is predicted to rise as long as pharmaceutical companies keep developing and producing new medicines. The increasing demand for Isopropyl Myristate Market is expected to surge, giving significant opportunities for the chemical industry.

Isopropyl Myristate Market Segment Analysis:

Based on End-User, The Isopropyl Myristate Market is segmented into Skincare Products, Haircare Products, Cosmetics, Pharmaceutical Formulations, and Industrial Applications. The cosmetics category generates the most income XX% because of its versatile applications in cosmetic formulations. IPM is an essential ingredient in skincare, makeup, and hair care products, serving as an emollient, thickening agent, and base. As the cosmetics industry emphasizes texture, sensory appeal, and product performance, IPM secures the largest market share.

The Isopropyl Myristate (IPM) market has experienced the highest Compound Annual Growth Rate (CAGR) in haircare products because of increased demand for specific textures and benefits. IPM's role as an emollient and conditioner makes it a preferred ingredient in conditioners, styling products, and treatments. The growing consumer focus on hair health and appearance, coupled with IPM's versatility, contributes to its accelerated adoption and highest CAGR within the dynamic IPM market.

Isopropyl Myristate Market Regional Insight:

North America, Isopropyl Myristate (IPM) industry this industry has dominated by North America, which has a thriving personal care and cosmetics business and has probably taken the highest market share in this sector. The significant usage of IPM has been driven by the region's strong consumer demand for skin care and cosmetic goods, as well as a focus on new formulations. Also, the existence of significant cosmetic producers and the increasing focus on natural and sustainable formulas complement the adaptability of IPM. These elements promote the domination of IPM adoption and market share in the personal care and cosmetics industry in North America.

Isopropyl Myristate Market Competitive Landscape:

• 1 July 2022: Croda International Plc (‘Croda’), which uses smart science to create high-performance ingredients and technologies that improve lives, today announces the completion of the divestment of the majority of its Performance Technologies and Industrial Chemicals businesses to a wholly owned subsidiary of Cargill Inc (‘Cargill’), as more fully described in Croda’s initial.

The gross proceeds are approximately €775m (approximately £667m), subject to small, customary adjustments for cash and debt-like instruments, and working capital, in line with the earlier announcement. The divestment and the associated proceeds exclude Croda Sipo (‘Sipo’), a Chinese joint venture in which Croda has a 65% shareholding. Croda continues to discuss with its joint venture partner the acquisition of its stake in Sipo, to enable a subsequent sale by Croda to Cargill of 100% of Sipo for €140m. 

• 7 May 2024, BASF plans to increase the global production capacity of its Basoflux® range of paraffin inhibitors at its site in Tarragona, Spain. This investment are enable BASF’s Oilfield Chemicals business to meet the current and future demand for novel paraffin inhibitors for the Oil & Gas industry. Additional assets create efficiencies and flexibility in the production of newly developed solutions, such as more sustainable aqueous-based dispersion paraffin inhibitors and solvent-based products. This plant expansion also enables BASF to act swiftly to on-demand changes in the market.

Key Player in the Isopropyl Myristate Market

1. Azelis Group NV  - Belgium
2. Croda International Plc - United Kingdom
3. BASF SE - Germany
4. KLK OLEO - Malaysia
5. IOI Oleochemicals - Malaysia
6. OLEON NV - Belgium
7. Mosselman S.A. - Belgium
8. Emco Dyestuff Pvt Ltd – India
9. Dadiachemical.com - India
10. Nanjing Chemical Material Corp. - China
11. TOP Pharm Chemical Group - China
12. Wego Chemical Group - United States
13. Berg + Schmidt GmbH & Co. KG – Germany
14. Kokyu Alcohol Kogyo Co., Ltd. – Japan
15. Jigchem Universal - India
16. Surfachem - United Kingdom
17. Ventos - Spanish
18. VG Organics – India
19. XX.inc