Isopropyl Myristate (IPM) is a synthetic oil formed by the esterification of isopropyl alcohol and myristic acid, primarily used as an emollient, thickening agent, and penetration enhancer in personal care and pharmaceutical products. IPM improves texture, enhances skin absorption, and reduces greasiness in topical formulations. It finds applications in cosmetics, hair care, topical drugs, and industrial solvents, and its market is growing due to rising demand for skin-friendly and lightweight ingredients in consumer products.

The global isopropyl myristate market was valued at USD 70 million in 2023 and grew at a CAGR of 8% from 2024 to 2033. The market is expected to reach USD 151.12 million by 2033. The increasing demand for personal care and cosmetic products will drive the growth of the global isopropyl myristate market.

2. Recent Developments

• 2025: Croda International launched a bio-based IPM variant to address growing demand for sustainable and natural cosmetic ingredients.

• 2024: BASF expanded production capacity for esters including IPM in response to increasing demand from the Asia-Pacific region.

• 2024: Ashland introduced a pharmaceutical-grade IPM for enhanced dermal delivery in topical treatments and transdermal patches.

• 2025: Regulatory approval updates from the FDA and EU REACH encouraged cleaner formulation strategies in personal care and pharmaceuticals using IPM.

3. Market Dynamics

Drivers

• Growing demand for non-greasy emollients in skincare and cosmetics.

• Increasing use in topical pharmaceutical formulations as a permeation enhancer.

• Surge in demand for hair care and personal hygiene products post-COVID.

• Expanding applications in industrial lubricants, agrochemicals, and plasticizers.

• Growth of the clean beauty movement encouraging lightweight, non-comedogenic ingredients.

Restraints

• Potential skin irritation with prolonged or excessive use in sensitive individuals.

• Volatility in raw material prices (isopropyl alcohol and fatty acids).

• Competition from natural oils and esters in clean-label formulations.

• Regulatory concerns in specific markets around synthetic esters.

4. Segment Analysis

Regional Segmentation Analysis

• North America: Significant demand from the cosmetic, pharmaceutical, and industrial sectors; rising trends in clean-label skincare.

• Europe: Focus on eco-certified, REACH-compliant ingredients; growing use in cosmeceuticals.

• Asia-Pacific: Largest and fastest-growing market; driven by strong consumption in China, India, South Korea, and Japan, especially in cosmetics manufacturing.

• Latin America & MEA: Emerging use in personal care and pharmaceutical applications due to urbanization and rising disposable income.

Type Segment Analysis

• By Purity:

  • ≥98% Purity (Pharmaceutical and Personal Care Grade)

  • Industrial Grade

• By Application:

  • Personal Care & Cosmetics (lotions, creams, antiperspirants, hair conditioners)

  • Pharmaceuticals (topical drugs, ointments, transdermal systems)

  • Industrial Uses (plasticizers, lubricants, agrochemicals, solvents)

  • Food Packaging (minor use in coatings)

• By Function:

  • Emollient

  • Penetration Enhancer

  • Solvent

  • Binder and Lubricant

5. Some of the Key Market Players

• Croda International Plc

• BASF SE

• KLK OLEO

• Stepan Company

• INEOS

• IOI Oleo GmbH

• Emery Oleochemicals

• Ashland Global Holdings Inc.

• Acme-Hardesty Co.

• Spectrum Chemical Mfg. Corp.

6. Report Description

This report provides an in-depth analysis of the global isopropyl myristate market, including trends, competitive landscape, key application areas, and regional growth patterns. Covering the forecast period 2025–2030, it explores demand across end-use industries, evaluates supply chain challenges, and analyzes the impact of sustainability and regulatory compliance on market trajectory. This report is valuable for chemical manufacturers, cosmetic brands, pharma companies, and raw material suppliers.

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7. Table of Contents

1. Executive Summary

2. Market Introduction

3. Research Methodology & Assumptions

4. Market Dynamics

   • Drivers

   • Restraints

5. Chemical Profile & Production Process

6. Segment Analysis

   • By Purity

   • By Application

   • By Function

7. Regional Market Insights

   • North America

   • Europe

   • Asia-Pacific

   • Latin America

   • Middle East & Africa

8. Competitive Landscape

   • Company Profiles

   • Strategic Initiatives

9. Innovation & Regulatory Trends

10. Market Forecast and Opportunities (2025–2030)

11. Appendix (Glossary, Data Sources, Abbreviations)