Isopropanolamine Market: Introduction
Isopropanolamine is an amino alcohol. It is in the form of a colorless liquid. Isopropanolamine are good solubilizers of oils and fats. Isopropanolamine-based formulations are widely used for enhancing colors and outer appearance of various commercial products such as hair care, skin care, bath, and tanning products and fragrances. These formulations impart excellent heat stability to commercial products and improve solubility of oil-based materials. Isopropanolamine also reduces the overall product cost due to its higher compatibility with other chemicals than the conventional ethanolamine compound. Isopropanolamine is of three types: mono-Isopropanolamine, di-isopropanolamine, and tri-isopropanolamine. Its key applications are gas purification, surfactants, and antistatic agents for polymers, metalworking fluids, cement processing aids, emulsifiers, wetting agents, and corrosion inhibitors.
Increase in the demand for cosmetics and personal care products across the globe is projected to fuel the global isopropanolamine market during the forecast period. Isopropanolamines are widely used in hair dyes and skin care products. This is another factor likely to boost the demand for isopropanolamine compounds during the forecast period. On direct contact, isopropanolamine is slightly toxic to humans. It can cause skin irritation and shortness of breath also. Hence, stringent regulations are imposed on its usage. These key factors are projected to hamper the global isopropanolamine market in the next few years.
Global Isopropanolamine Market: Segmentation
Based on type, the isopropanolamine market can be segmented into mono-isopropanolamine, di-isopropanolamine, and tri-isopropanolamine. The di-isopropanolamine segment is expected to hold a dominant market share during the forecast period. Di-isopropanolamine offers high ability to mix with other chemical compounds and enhances stability of cosmetic and personal care products.
In terms of application, the global isopropanolamine market can be divided into catalysts, acid gas absorbers, synthetic textile auxiliaries, plasticizers, corrosion inhibitors, surfactants, and wetting agents. Catalysts and surfactants segments are projected to constitute a major market share in the next few years. Based on end-use industry, the global isopropanolamine market can be segregated into cosmetics & personal care, pharmaceutical, cement, coatings, adhesives & lubricants, plastics, and gas treatment. The cosmetics & personal care segment is likely to hold a key share of the global isopropanolamine market during the forecast period.
Global Isopropanolamine Market: Region-wise Outlook
Based on region, the global isopropanolamine market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of consumption, Asia Pacific is likely to hold a major share of the global isopropanolamine market during the forecast period. It is likely to remain a rapidly expanding market for isopropanolamine during the forecast period. International companies across the globe are investing in Asia Pacific, as the region has high growth potential for numerous industries. China witnesses strong presence of chemical manufacturers, which largely export several chemicals across the globe. This factor is projected to fuel the isopropanolamine market in Asia Pacific during the forecast period. North America and Europe are projected to follow Asia Pacific in the isopropanolamine market during the forecast period. Strong presence of gas treatment companies along with paint and coating manufacturers in these regions is projected to boost the demand for isopropanolamine in North America and Europe during the forecast period. The market in Latin America and Middle East & Africa is projected to expand at a sluggish rate during the forecast period, due to limited presence of manufacturing companies and limited availability of technologies across these regions.
Global Isopropanolamine Market: Key Players
A large number of companies operate in the global isopropanolamine market. Prominent manufacturers of isopropanolamine are BASF Corporation, Dow Chemicals, Neo Chemicals, Tokyo chemical Industry Co., Ltd. and LANXESS.
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