Rockville, Feb. 14, 2023 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global isopropyl acetate market to reach a valuation of US$ 407.7 million in 2023 and is anticipated to grow at a CAGR of 5.2% during the forecast period of 2023-2033.
Escalating demand for personal care & cosmetics products from millennials across the globe is likely to create high demand for isopropyl acetate in the coming years. Cosmetics and personal care products such as aftershave lotion, makeup products, nails, and hair skin care products are opening multiple doors for the growth of isopropyl acetate consumption.
Isopropyl acetate is widely used in the manufacturing of coatings. It also finds multiple applications in the automotive industry. It is widely used by OEMs for coating, refinishing, and others. With the growing automotive industry, the use of coatings to enhance a vehicle’s appearance and improve its wear and tear resistance is increasing which is likely to drive the isopropyl acetate market as it is used in the manufacturing of coatings.
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Report Attributes | Details |
| Forecast Period | 2023 - 2033 |
| Value Projection (2032) | US$ 676.9 Billion |
| Growth Rate (2022-2032) | 5.2 % CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 112 Tables |
| No. of Figures | 93 Figures |
Key Takeaways from Market Study
- The global isopropyl acetate market is projected to grow at 5.2% CAGR and reach US$ 676.9 million by 2033
- The market witnessed a 4.0% CAGR between 2018 to 2022
- US is anticipated to grow at a CAGR of 5.2% between 2023–2033
- North America is likely to represent 24.3% of the isopropyl acetate market share
- East Asia to remain the largest market in the isopropyl acetate market
- China’s isopropyl acetate market is set to grow at a CAGR of 5.4%
“Growing Demand from Printing Inks and Coating Industries is Likely to Drive Isopropyl Acetate Market During the Assessment Period” says a Fact.MR analyst.
Market Growth Strategies
Market players are looking to establish a long-term relationship with acetic acid manufacturers as it is considered as the key raw material in the manufacturing of isopropyl acetate to survive during unfavorable trade situations. Manufacturers are also investing heavily in research & development for finding new end-use applications for isopropyl acetate to gain high-profit margins.
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Market Frontrunners
- SEQENS SPS
- DOW
- EASTMAN Chemical Company
- INEOS
- Monument Chemical
- Pidilite Industries Ltd.
- Sankyo Chemical Co. LTD.
Market Titans Key Strategies
The global market for isopropyl acetate is dominated by a limited set of players operating in the market with full potential and continues filling the voids of demand globally. The limited set of players operating globally closely observe consumer behaviors, market trends, raw material pricing fluctuation, and prominent regions for the establishment of production bases.
Companies have positioned their production bases in prime locations around the globe and strictly adhere to the competitive environment to maintain the growth of the market. Players adopt marketing strategies and different other plans to establish trust among the consumer base.
Similarly, organic and inorganic strategies are seen adopted in the market followed by successful acquisitions to keep the market competitive and proving the best output possible. The market has strong backup from its parent clan of the chemical and petrochemical industry, nevertheless, isopropyl demand is at surge with increased application use cases and continues to portray a similar potential during the long run.
Fact.MR has provided detailed information about the price points of key manufacturers of isopropyl acetate positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
Segmentation of Isopropyl Acetate Industry Research
- By Grade :
- >98%
- <98%
- By Function :
- Additive
- Intermediate
- Plasticizers
- Stabilizers
- Others
- By Application :
- Printing Inks
- Automotive
- OEM Coatings
- Refinishes
- Plastics
- Architectural Coatings
- Wood Coatings
- Printing Inks
- Packaging Components & Inks
- Personal care ingredients
- Pharmaceuticals
- Cleaning Fluids
- Perfumes & Fragrances
- Others
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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Key Questions Covered in the Isopropyl Acetate Market Report
- What is the projected value of the Isopropyl Acetate Market in 2023?
- At what rate will the global Isopropyl Acetate Market grow until 2033?
- Which are the factors hampering the growth in the Isopropyl Acetate Market?
- Which region is expected to lead in the global Isopropyl Acetate Market during 2023 to 2033?
- Which are the factors driving the Isopropyl Acetate Market during the forecast period?
- What is the expected market value of the Isopropyl Acetate Market during the forecast period?
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the isopropyl acetate market, presenting historical market data (2018–2022) and forecast statistics for the period of 2023–2033.
The study reveals essential insights on the basis of grade (>98% and <98%), function (additive, intermediate, plasticizer, stabilizer, and others), application (automotive, architectural coatings, wood coatings, printing inks, packaging & components inks, personal care ingredients, pharmaceutical, and cleaning fluids perfumes & fragrances), and across major regions of the world (North America, Latin America, Europe, East Asia, South Asia, and Oceania, Middle East & Africa).
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