Electronic Grade Isopropyl Alcohol Market is predicted to reach USD 85.6 billion at a CAGR of 5.27% during the forecast period

MRFR recognizes the following companies as the key players in the global electronic grade isopropyl alcohol market— ExxonMobil, LCY Chemical, LG Chem, Mitsui Chemicals, Tokuyama, Dow Chemical Company, KMG Electronic Chemicals, Hefei TNJ Chemical Industry Co., Ltd, Linde Gas, MG Chemicals, Fujifilm and others.

Market Highlights

The global electronic grade isopropyl alcohol market is accounted to register a CAGR of 5.27% during the forecast period and is estimated to reach USD 85.6 million by 2030.

The single largest growth trend is the rise in digitalization is increasing the demand for electronics products across end-use industries including automotive electronics components, medical equipment, food processing instruments, industrial equipment, consumer electronics, and many others is accelerating the market growth during the forecast period. This is mainly driven by favorable government policies to support digitalization globally, especially in developing countries.

Furthermore, the growing demand for bio-based isopropyl alcohol is accelerating the demand for electronic-grade isopropyl alcohol during the forecast period. These are a few of the key macro factors that are positively propelling the market projectile. However, high production costs and corrosion and pollution concerns are expected to hamper the growth of the global market. Nevertheless, the surge in demand for electronic grade isopropyl alcohol owing to growing electronics sectors across the region is projected to create lucrative opportunity pockets for market players. We estimate a more focused business initiative targeting the same would result in greater revenue pockets for market players.

Segment Analysis

The global electronic grade isopropyl alcohol market has been segmented based on purity, and applications.

Based on purity, the market is segmented as 99.99% and less than 99.99%. The 99.99% segment was attributed to holding a significant market share in 2022 as estimated by MRFR analysts.

Further, we estimate that the market segment will continue to pool in the largest chunk of revenue during the forecast period. It has been identified that the segment market yet witnesses continuous innovations and movements in terms of new product launches.  

Further, based on the application, the market is segmented into integrated chips, printed circuit boards, semiconductors, lcd cleaning and others. The semiconductor segment is projected to have a higher market share during the forecast period, the growth of this segment is attributed to growing demand from various industries such as telecommunication, data storage, and consumer electronics among others which are growing at a rapid pace across the globe. Printed Circuit Boards accounted for another major share in the global electronic grades isopropyl alcohol market as electronic grade isopropyl alcohol is used to clean PCBs before they are assembled. This helps to remove dirt, grease, and other contaminants from the PCBs, which helps to prevent corrosion and improve the performance of the PCBs also growing adoption of miniaturized electronic devices such as smartphones, tablets, and laptops.

Regional Analysis

The global electronic grade isopropyl alcohol market, based on region, has been divided into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. North America consists of US and Canada. The Europe electronic grade isopropyl alcohol market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The electronic grade isopropyl alcohol market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Middle East and Africa electronic grade isopropyl alcohol market consist of GCC Countries, South Africa, and the Rest of the Middle East and Africa. The Latin American electronic grade isopropyl alcohol market covers Brazil, Mexico, Argentina, and the Rest of Latin America.

The imperative factors, such as rising demand for electronics products from numerous industries, including power generation, transportation, and extensive usage of electronic grade isopropyl alcohol in the industrial sector boosting the growth of the North American region.

Moreover, the Europe market has been persistently growing owing to factors such as rapid demand for electric vehicles due to the supportive government policies across the region. Additionally, market factors, such as rapid industrialization, rise in population, and increase in digitalization in developing countries are driving the Asia-Pacific region’s growth. The Asia Pacific region is home to some of the world's largest electronics manufacturing hubs, including China, Japan, and South Korea. The increasing demand for electronic products in this region is driving the demand for electronic grade isopropyl alcohol, which is used in a variety of electronic applications, such as cleaning, and degreasing. Labor costs in the APAC region are relatively low, which makes it an attractive destination for electronic manufacturing. This has led to the establishment of a number of large electronic manufacturing hubs in the region, such as in China, Malaysia, and Vietnam.

Furthermore, the Middle East, Africa, and Latin America are driven by the adoption of digital technology, and increasing demand for electronic components is positively contributing to the market growth.

Key Findings of the Study

• The global electronic grade isopropyl alcohol market is expected to reach USD 85.6 million by 2030, at a CAGR of 5.27% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market, with growth in diverse applications in end-use industries in developing countries such as India, China, and others.


• Based on application, the semiconductor segment was attributed to holding the lubricative market in 2022 owing to the rise in automation across end-use industries.


• ExxonMobil, LCY Chemical, LG Chem, Mitsui Chemicals, Tokuyama, Dow Chemical Company, KMG Electronic Chemicals, Hefei TNJ Chemical Industry Co., Ltd, Linde Gas, MG Chemicals, Fujifilm, and others are the key market players.