The demand for isopropyl acetate is rising in response to the increasing application in pharmaceutical products.
NEW YORK, NY / ACCESSWIRE / April 19, 2021 / The isopropyl acetate market grew at an average rate of 3.6% CAGR between 2016 and 2020. A study by consulting firm Fact.MR has projected sales to expand at 5% CAGR through 2031. Surge in demand from various end-use applications is bolstering the growth of market.
Demand for isopropyl acetate is poised to grow steadily with the increasing usage in personal care ingredients and printing inks as a primary component. Demand in pharmaceutical application has spiked the usage of isopropyl acetate, accelerating the sales. Widespread application of isopropyl acetate has been seen in pharmaceutical industry for the production of hand sanitizers. With continuous usage of isopropyl acetate in pharmaceutical companies, the demand for isopropyl acetate is poised to remain constant in pharma industry.
"Manufactures are investing heavily in ongoing research and innovation for improved chemical composition of isopropyl acetate which is expected to propel the demand in upcoming years," says a Fact.MR analyst.
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Key Takeaways
- The isopropyl acetate is expected to grow 1.6x by 2031 as compared to 2021
- 98% grade isopropyl acetate is expected to remain dominant throughout the forecast period
- Application in personal care and printing inks to offer lucrative opportunities for the manufacturers
- France and Germany are leading the European isopropyl acetate market on the back of soaring demand from personal care industry
- Automotive in-2020dustry to emerge as a potential segment by 2021-end
- Surging demand of isopropyl acetate in personal care products, perfumes and aromatic fragrances to create growth opportunities across Japan
- United States is estimated to occupy 90% of total market share backed by increased government spending on chemical synthesis in industrial sector
Prominent Drivers
- Rising demand for personal care products is expected to propel the demand of isopropyl acetate
- Technological advancement in application offerings have accelerated the growth opportunities of isopropyl acetate
- Increased use of isopropyl acetate in printing inks, and pharmaceutical is bolstering the growth
Key Restraints
- Fluctuating prices of raw material is likely to limit the growth of isopropyl acetate
- Approval from various regulatory bodies is posing a challenge to the market
Discover more about the isopropyl acetate market with 105 figures and 128 data tables, along with the table of contents.
https://www.factmr.com/report/588/isopropyl-acetate-market
Competitive Landscape
SEQENS SPS, DOW, EASTMAN Chemical Company, INEOS, Monument Chemical, Pidilite Industries Ltd., Sankyo Chemical Co. Ltd., and Shinko Organic Chemical Industry Ltd among others are some of the prominent players profiled by Fact.MR. According to the study, leading players are focusing on expanding their footprints in regional as well as international market to generate their future growth prospects. Also, manufacturers are delivering reliable product across the globe to flourish demand over the forecast period.
More Valuable Insights on Isopropyl acetate Market
In its latest report, Fact.MR offers an unbiased analysis on the global isopropyl acetate market for the period 2021-2031. The study divulges essential insights on the isopropyl acetate market trends, growth and opportunities. To gain a better perspective, the market is segmented on the basis of grade (>98% and <98%), function (additives, intermediates, plasticizers, plasticizers, stabilizers, and others), application (automotive, architectural coatings, wood coatings, printing inks, packaging components & inks, personal care ingredients, pharmaceuticals, cleaning fluids, perfumes & fragrances, and others), and region (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
Key Questions Covered in the Report
- What are the key strategies adopted by isopropyl acetate manufacturers?
- Which segment holds the major market share for isopropyl acetate market?
- What are the key drivers and restraints for the isopropyl acetate market?
- Which type of isopropyl acetate will be the most lucrative in 2031?
- Which are the prominent players operating in the isopropyl acetate market?
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SOURCE: Fact.MR