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Isopropyl Myristate Market Trends

Report ID: GMI6377
Published Date: Aug 2023
Report Format: PDF

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Isopropyl Myristate Market Trends

Consumers were showing a preference for lightweight and non-greasy formulations in skincare and personal care products. IPM's light texture and non-greasy feel made it appealing for such formulations. The growing middle-class population and rising disposable incomes in emerging markets led to an increased demand for personal care and cosmetic products, positively impacting the demand for IPM. Manufacturers and researchers were exploring new applications for IPM beyond its traditional uses. Thus, the growing prevalence is expected to expedite the isopropyl myristate industry trends.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Market size for isopropyl myristate was valued at around USD 70.7 million in 2022 and is estimated to reach more than USD 146 million by the end of 2032.

Liquid segment held a majority isopropyl myristate industry value of USD 45.2 million in 2022 as liquid IPM is widely used in personal care products like lotions, creams, and makeup products due to its excellent emollient and lubricating properties.

U.S. IPM market share was worth USD 17 million in 2022 and is anticipated to expand at a significant pace from 2023-2032, owing to the high demand for premium skincare and cosmetic products, which often contain IPM as an ingredient.

BASF SE, Croda International Plc, Stearinerie Dubois, Oleon NV, KLK Oleo Group, Acme-Hardesty Co., The Lubrizol Corporation, Vantage Specialty Ingredients, Inc., Univar Solutions Inc., and McKinley Resources, Inc. among others.