Isopropyl Esters Market: Introduction
- Isopropyl esters are esters of isopropyl alcohol.
- Isopropyl ester is an organic compound that is the product of esterification of acetic acid and isopropanol. It is a clear, colorless liquid with a characteristic fruity odor.
- Isopropyl ester is a solvent with a wide variety of manufacturing uses that is miscible with most other organic solvents, and moderately soluble in water. It is used as a solvent for cellulose, plastics, oil, and fats. It is a component of some printing inks and perfumes.
- Isopropyl ester decomposes slowly on contact with steel in the presence of air, producing acetic acid and isopropanol. It reacts violently with oxidizing materials.
- Isopropyl ester is flammable in liquid and vapor forms. It may be harmful if swallowed or inhaled.
Key Drivers and Restraints of Isopropyl Esters Market
- Demand for isopropyl esters is expected to increase at a significant pace during the forecast period due to the rise in usage of isopropyl esters in various industries such as cosmetics, food additive, and medicine
- Increase in demand for skin-whitening and anti-aging products in developing countries such as India and China is also estimated to drive the market during the forecast period. Isopropyl ester is being considered a potential element for the manufacture of surfactants and detergents.
- High cost of isopropyl esters is negatively affecting the isopropyl esters market
Isopropyl Esters Market: Application Segment
- Based on application, the Isopropyl esters market can be divided into personal care & cosmetics, food processing, pharmaceuticals, and others
- The food processing segment dominates the isopropyl esters market
- Increase in usage of isopropyl esters in the food processing segment is driving the isopropyl esters market across the globe
COVID-19 Impact on Global Isopropyl Esters Market
- On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 214 countries and territories around the world.
- Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
- The outbreak of the COVID-19 pandemic has led to disturbance in the supply chain due to the global lockdown in several countries. Furthermore, the spread of coronavirus caused a fall in demand for chemical intermediates due to uncertainty in the global economy and capital markets.
- The isopropyl esters market has been hampered due to the COVID-19 pandemic and lockdowns in several countries across the globe. However, the market is anticipated to expand during the forecast period due to the acceptance of new normal conditions and recovery of various end-use industries in countries across the globe.
North America to Hold Leading Share of Global Isopropyl Esters Market
- In terms of region, the isopropyl esters market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America is expected to hold major share of the global isopropyl esters market, followed by Asia Pacific and Europe, during the forecast period
- Strong and healthy growth in end-use industries such personal care & cosmetics and food processing in North America is a key factor driving the isopropyl esters market in the region
- Demand for personal care and cosmetics is increasing in North America owing to the rise in disposable income of middle-class families. Additionally, penetration of cosmetics in the population is expected to drive the demand for isopropyl esters in North America.
Key Manufacturers Operating in Global Isopropyl Esters Market
The global isopropyl esters market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the isopropyl esters market include:
- Estelle Chemicals
- PandG Chemicals
- Evonik Industries
- Faci Asia Pacific Pte. Ltd.
- KLK Oleo
- World Chem Industries
Isopropyl Esters Market: Research Scope
Isopropyl Esters Market, by Product Type
- Isopropyl Formate
- Isopropyl Acetate
Isopropyl Esters Market, by Application
- Personal Care & Cosmetics
- Food Processing
Global Isopropyl Esters Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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