Isopropyl Myristate Market By Source Type (Petroleum-based, Plant-based), By Application (Pharmaceuticals & Healthcare, Personal Care & Cosmetics, Industrial Use, Others), By Form (Liquid, Gel), By End-User (Pharmaceutical Industry, Cosmetic & Personal Care Industry, Industrial Use); Global Insights & Forecast (2025 - 2030)

As per Intent Market Research, the Isopropyl Myristate Market was valued at USD 1.2 Billion in 2024-e and will surpass USD 1.9 Billion by 2030; growing at a CAGR of 7.9% during 2025 - 2030.

The isopropyl myristate market is a significant segment in the personal care, pharmaceutical, and industrial sectors. Derived from either petroleum-based or plant-based sources, isopropyl myristate is commonly used as an emulsifier, solvent, and carrier agent due to its ability to enhance the absorption of active ingredients. In the pharmaceutical and healthcare industries, it is frequently included in topical treatments, while in cosmetics, it is employed to improve the spreadability and penetration of products such as lotions and creams. With growing demand for both plant-based and synthetic alternatives in various applications, the isopropyl myristate market is witnessing increased innovation and product development to meet diverse consumer needs across multiple industries.

Petroleum-based Source Type is Largest Owing to Established Production and Cost Efficiency

The petroleum-based source type dominates the isopropyl myristate market, primarily due to its well-established production processes and cost-effectiveness. Petroleum-based isopropyl myristate is synthesized through the esterification of isopropyl alcohol and myristic acid, benefiting from the extensive infrastructure in place within the petrochemical industry. This method is highly efficient, allowing for large-scale production at competitive prices, which makes it the preferred option in industries that require high-volume consumption. Although plant-based sources are gaining attention due to sustainability trends, the petroleum-based segment continues to lead the market due to its long-standing production capabilities and widespread availability, particularly in the pharmaceutical and personal care industries.

Pharmaceuticals & Healthcare Application is Largest Owing to Demand for Topical Treatments

The pharmaceuticals and healthcare application is the largest segment for isopropyl myristate, driven by its role as a key ingredient in topical treatments and transdermal drug delivery systems. Isopropyl myristate acts as a solvent and penetration enhancer, improving the absorption of active pharmaceutical ingredients in creams, ointments, and gels. It is commonly used in pain relief ointments, anti-inflammatory treatments, and other dermatological formulations. The increasing demand for effective and fast-acting topical products, along with the rise in chronic conditions requiring such treatments, ensures that pharmaceuticals and healthcare remain the largest application segment for isopropyl myristate.

Personal Care & Cosmetics Application is Fastest Growing Owing to Expanding Beauty Trends

The personal care and cosmetics application segment is the fastest-growing in the isopropyl myristate market, driven by the increasing consumer preference for high-performance skincare and beauty products. In cosmetics, isopropyl myristate is used as an emollient and solubilizer to enhance the texture and absorption of ingredients in products such as lotions, creams, and hair care treatments. With the growing demand for innovative, multifunctional beauty products, especially those offering enhanced skin penetration and faster absorption, isopropyl myristate has gained significant traction. Additionally, as consumers continue to seek products with improved formulations and greater efficacy, the personal care and cosmetics sector is set to drive the fastest growth for isopropyl myristate in the coming years.

Liquid Form is Largest Owing to Versatility and Ease of Use

The liquid form of isopropyl myristate is the largest segment in the market, owing to its versatility and ease of use across a variety of applications. Liquid isopropyl myristate is easily incorporated into formulations for pharmaceutical creams, cosmetics, and personal care products, where it serves as a solvent and absorption enhancer. Its liquid state ensures smooth application, improved blending with other ingredients, and efficient incorporation into both commercial and at-home formulations. This form also provides convenience for manufacturers in terms of storage and handling, making it the most widely used in large-scale production. The liquid form's broad compatibility with a wide range of products across multiple industries contributes to its dominance in the market.

Pharmaceutical Industry End-User is Largest Owing to Essential Role in Drug Delivery Systems

The pharmaceutical industry is the largest end-user of isopropyl myristate, driven by its critical role in transdermal drug delivery and topical treatments. Isopropyl myristate is widely used in the formulation of creams, gels, and ointments that require enhanced skin penetration for effective drug delivery. It is particularly important in the formulation of pain relievers, anti-inflammatory agents, and dermatological treatments. The pharmaceutical industry's focus on improving the efficacy of topical products, combined with the growing demand for transdermal systems, ensures that the pharmaceutical sector remains the largest consumer of isopropyl myristate.

Asia-Pacific Region is Fastest Growing Owing to Expanding Cosmetic & Pharmaceutical Markets

The Asia-Pacific region is the fastest-growing market for isopropyl myristate, driven by the rapid expansion of the cosmetics and pharmaceutical industries. Countries like China, India, and Japan are experiencing significant growth in the personal care sector, where the demand for effective skincare and beauty products continues to rise. Additionally, the pharmaceutical industry in the region is expanding, particularly in the development of topical treatments and transdermal drug delivery systems. With a growing middle class and increasing disposable incomes, the demand for both cosmetic and pharmaceutical products is expected to fuel continued growth in the isopropyl myristate market in Asia-Pacific.

Leading Companies and Competitive Landscape

The isopropyl myristate market is competitive, with leading players such as Kao Corporation, Sasol Limited, and Eastman Chemical Company holding significant market shares. These companies dominate through their strong global presence, extensive product portfolios, and capabilities in producing high-quality isopropyl myristate for diverse applications. Competitive strategies are focused on expanding production capacity, improving product offerings, and aligning with sustainability trends by developing plant-based alternatives. The market is also witnessing increased research and development efforts to meet consumer demand for clean-label and high-performance products. As competition intensifies, innovation in production methods and product formulations will be key to maintaining a strong position in the market.

Recent Developments:

• The Dow Chemical Company expanded its isopropyl myristate production capacity in Asia-Pacific to meet increasing demand in cosmetics in January 2025.
• BASF SE launched a new line of sustainable isopropyl myristate derived from palm oil alternatives for use in personal care products in December 2024.
• Solvay S.A. introduced a new bio-based isopropyl myristate ingredient to enhance eco-friendly formulations in November 2024.
• Lonza Group announced the opening of a new manufacturing facility for isopropyl myristate in Europe in October 2024.
• Clariant International Ltd. partnered with a major cosmetic company to provide a cleaner, greener isopropyl myristate solution in September 2024.

List of Leading Companies:

• The Dow Chemical Company
• BASF SE
• Solvay S.A.
• Lonza Group
• Clariant International Ltd.
• Croda International Plc
• Evonik Industries AG
• Stepan Company
• The Lubrizol Corporation
• Oleon N.V.
• VVF Limited
• Musim Mas Holdings
• P&G Chemicals
• IOI Oleochemical Industries Berhad
• Kraton Polymers

Report Scope: