Isopropyl lanolate is an animal wax which is used in cosmetic formulations. Isopropyl lanolate is an ester compound between the isopropyl alcohol as the alcoholic component and acids obtained from wool fat(lanolin). The ester acts as an antistatic agent (reduces static charges by neutralizing the electric charge on the surface of e.g. hair), emollient (makes the skin supple and smoothes it), emulsifier (changes the interfacial tension of liquids like water and oil so that they can be mixed together).
"Isopropyl" refers to the isopropyl alcohol as the alcoholic component of a substance.