Market Overview
The Vietnam Isopropyl Alcohol market size was valued at USD 19.20 Million in 2024 and is expected to reach USD 25.81 Million by 2033, growing at a CAGR of 3.34% during the forecast period of 2025-2033. Growth is driven by rising automotive production and maintenance needs, increasing adoption in laboratories and academic research, and the expansion of healthcare infrastructure. The product’s role in cleaning, sterilization, and precision applications ensures steady demand across industrial, scientific, and medical sectors, boosting market share.
Study Assumption Years
- Base Year: 2024
- Historical Years: 2019-2024
- Forecast Period: 2025-2033
Vietnam Isopropyl Alcohol Market Key Takeaways
- The Vietnam isopropyl alcohol market size was USD 19.20 Million in 2024, projected to reach USD 25.81 Million by 2033, at a CAGR of 3.34%.
- Increasing automotive production and servicing needs are driving industrial use, supported by rising vehicle ownership and new production facilities like VinFast’s Ha Tinh Electric Car Factory (capacity 200,000 vehicles annually from 2025).
- The expanding network of universities, research institutes, and biotechnology/pharmaceutical R&D is boosting laboratory-grade isopropyl alcohol demand.
- Growth in healthcare infrastructure, diagnostic labs, and increased medical facility investments is driving demand for high-purity isopropyl alcohol.
- The aftermarket automotive service industry is also expanding due to Vietnam’s growing urban vehicle density and youthful population, ensuring steady solvent demand.
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Market Growth Factors
Growth in the Vietnam isopropyl alcohol market is driven mainly by increasing production and maintenance of automotive. In the automotive sector, isopropyl alcohol finds massive demand in cleaning precise parts, degreasing metal surfaces, and preparation of components for coatings and finishing. Growing ownership of vehicles, on the back of rising income, is accelerating repairs and servicing, thus stimulating demand. The setting up of global production units in automotive, like the VinFast’s Ha Tinh Electric Car Factory with an annual capacity of 200,000 vehicles from 2025, is strongly driving industrial consumption.
The second important reason is the increasing consumption of isopropyl alcohol in laboratory research and educational establishments. Vietnam currently witnesses a growth in universities, research institutes, and dedicated laboratories using isopropyl alcohol in cleaning tools, disinfecting surfaces, and preparing biological and chemical specimens. The Vietnamese government’s spirit toward scientific research, innovation hubs, and increasing research activities in biotechnology and pharmaceuticals further fortify the demand for laboratory-type isopropyl alcohol.
Growth in the healthcare infrastructure along with diagnostic applications is further driving the growth of the market. Development and increased investments in healthcare facilities, opening of new clinics and hospitals, and advancement in diagnostic tools demand high-purity isopropyl alcohol for purposes of sterilization, cleaning instruments, and preparation of samples. All these aspects are driving up demand for isopropyl alcohol indirectly as better health awareness and higher insurance cover increase hospital attendance. Innovations in biotechnology and molecular testing improve demand in diagnostic applications, underlining long-term growth in Vietnam’s chemical and healthcare supply chains.
Market Segmentation
Application Insights:
- Process Solvent: Used primarily in various manufacturing and chemical processing activities.
- Cleaning Agent: Crucial for cleaning precise parts, degreasing metal surfaces, and sterilization across industries.
- Coating Solvent: Employed in preparing components for coatings and finishing.
- Intermediate: Utilized as an intermediate component in chemical syntheses.
- Others: Additional applications supported by industrial and research needs.
Industry Insights:
- Cosmetic and Personal Care: Incorporates isopropyl alcohol for cleaning and formulation processes.
- Pharmaceutical: Utilized for sterilization and laboratory applications in drug development and manufacturing.
- Food and Beverage: Used for cleaning and sanitization protocols.
- Paints and Coatings: Integral in surface preparation, coatings, and finishing applications.
- Chemical: Serves as a process solvent and intermediate chemical.
- Others: Various other industries utilizing isopropyl alcohol based on specific needs.
Regional Insights
The Vietnam isopropyl alcohol market is segmented by regions including Northern Vietnam, Central Vietnam, and Southern Vietnam. The report highlights these as the major regional markets, but does not specify dominant market statistics or CAGR per region.
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Recent Developments & News
Not provided in source.
Market Report Coverage
- Base Year of the Analysis: 2024
- Historical Period: 2019-2024
- Forecast Period: 2025-2033
- Units: Million USD
- Applications Covered: Process Solvent, Cleaning Agent, Coating Solvent, Intermediate, Others
- Industries Covered: Cosmetic and Personal care, Pharmaceutical, Food and Beverage, Paints and Coatings, Chemical, Others
- Regions Covered: Northern Vietnam, Central Vietnam, Southern Vietnam
- Post-Sale Analyst Support: 10-12 Weeks
- Delivery Format: PDF and Excel
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