Global Isopropanolamine Market Report and Forecast 2024-2032

Global Isopropanolamine Market Outlook

The global isopropanolamine market size is expected to grow at a CAGR of 4.40% between 2024 and 2032. The market is being driven by the growing expansion of end use sectors such as oil and gas, personal care, and construction, among others.

Key Trends in the Market

Isopropanolamine is a colourless chemical compound with a characteristic odour, which reacts violently with strong oxidants, cellulose nitrate, and nitric acid, among other compounds. The molecular mass of isopropanolamine is 75.11 and it has a boiling point of 159.5°C. Isopropanolamines are proficient at solubilising fats and oils, due to which they have various applications, however, this compound is corrosive to eyes, skin, and respiratory tract.

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• The rising demand for isopropanolamine from the cosmetics sector, to produce high-quality formulations and beauty products, is driving the isopropanolamine market growth. Various isopropanolamines are used to control the pH levels of personal care products and cosmetics, supporting emulsion formation.

• Increasing applications of isopropanolamine in the manufacturing of cement and concrete is being witnessed. In this regard, the growing infrastructural development activities across developing countries are expected to escalate the incorporation of isopropanolamine in residential and commercial construction projects in the forecast period.

• The favourable structural properties of isopropanolamine and its ability to readily react with water makes it useful in the production process of various industrial products, including corrosion inhibitors, metalworking fluids, emulsifiers, and detergents, among others, which is further aiding the isopropanolamine market.

Market Analysis

Based on derivatives, the market is segmented into monoisopropanolamine (MIPA), diisopropanolamine (DIPA), and triisopropanolamine (TIPA). On the basis of application, the market is classified into cement and concrete processing aids, gas purification, cosmetic formulations, surfactants, metalworking fluids, corrosion inhibitors, and emulsifiers and dispersants, among others. The regional markets for isopropanolamine are divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the global isopropanolamine market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Hongbaoli Group Co., Ltd.

• The Dow Chemical Company

• BASF SE

• Biesterfeld AG

• Orion Chem Pvt Ltd.

• Amines & Plasticizers ltd

• Saiper Chemicals Pvt Ltd.

• Others

Market Share by Derivatives

The diisopropanolamine (DIPA) segment, based on derivatives, accounts for a healthy share of the isopropanolamine market. This can be attributed to the widespread industrial utility of this compound, such as in the manufacturing of detergents, cosmetics, and pharmaceuticals, among other products. It is also used as a corrosion inhibitor across several sectors like water treatment and oil and gas. Over the forecast period, the triisopropanolamine (TIPA) segment is likely to witness fast growth, driven by the heightening usage of its downstream products in the rubber production.

Market Share by Region

Europe is anticipated to account for a decent share in the market for isopropanolamine. Increasing demand for isopropanolamine across the personal care and cosmetics sector in well-established economies such as United Kingdom and Germany is driving the growth of market for isopropanolamine in Europe.

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Meanwhile, the Asia Pacific is expected to be a fast-growing region in the isopropanolamine market, driven by the presence of local manufacturers and rapid expansion of the oil and gas sector. Increasing sales of consumer products, increasing population, and expanding construction sector are further contributing to the growth of the market for isopropanolamine in the Asia Pacific.

Competitive Landscape

Hongbaoli Group Co., Ltd., founded in 1987 and headquartered in Nanjing, China, is a leading chemicals company engaged in researching, developing, producing, and marketing polyol and isopropanolamine. Among the company’s key products are isopropanolamine, formulated polyol, propylene oxide, and monomer polyether.

The Dow Chemical Company is a materials science company that is one of the largest suppliers of plastic, synthetic fibre, and agricultural products, among others. Established in 1897 and headquartered in Michigan, United States, the company caters to packaging, infrastructure, and consumer care industries.

BASF SE is a multinational manufacturing company founded in 1865 and headquartered in Ludwigshafen, Germany. The key segments of BASF company are chemicals, industrial solutions, materials, surface technologies, agricultural solutions, and nutrition and care, offering a wide range of products and cross-industry solutions.

Other market players include Biesterfeld AG, Orion Chem Pvt Ltd., Amines & Plasticizers ltd, and Saiper Chemicals Pvt Ltd., among others.

Key Highlights of the Report