Isopropyl Esters Market Global Leading Players, Industry Updates, Future Growth, Business Prospects, Forthcoming Developments and Future Investments by Forecast to 2023
Isopropyl Esters are manufactured by the reaction of methyl ester with isopropyl alcohol. Isopropyl Esters such as isopropyl myristate, isopropyl laurate, isopropyl palmitate, and isopropyl oleate are good skin penetrating agents, and are widely used as an emollient, moisturizer, and thickening agent in cosmetics & personal care industry. Isopropyl Esters are widely used in food and cosmetics due to characteristics such as non-toxicity and skin-friendly nature. They possess excellent cold flow properties which makes them suitable for usage in biodiesel. Isopropyl Ester is used as a solvent in medicine preparation and is extensively utilized in the pharmaceutical industry.
Increasing per capita disposable income coupled with rising awareness regarding personal grooming and appearance enhancement products is driving Isopropyl Esters Market growth. Increasing usage as a flavoring agent in food industry is anticipated to boost product demand. Rising packaged food consumption due to busy lifestyles and easy availability is set to compliment the market growth over the forecast period. Expansion of industrial sector in developing regions along with escalating investments in the mining and construction industry is driving demand for Isopropyl Esters. The product is extensively used as an emulsifier in various lubricants.
Globally, skin care products account for over 45% of overall cosmetics & personal care market. The increasing usage of Isopropyl Esters in skincare products such as lotions, moisturizers, and skin creams is expected to fuel market growth over the forecast period. The growth in consumption of sports & energy drinks and natural juices has propelled the usage of Isopropyl Esters in food processing industry.
On the basis of Region, Global Isopropyl Ester Market segmentation includes its current and estimated demand in Asia Pacific, Europe, Latin America, North America, and Middle East & Africa. Asia Pacific is set to witness exponential growth over the forecast period due to increasing demand from end-use industries such as lubricants, surfactant & detergent, food, and cosmetics & personal care. Rising per capita disposable income along with expansion of pharmaceutical sector specifically in Southeast Asian countries including Indonesia, Thailand, Malaysia, and Vietnam is anticipated to positively benefit product demand.
However, strict regulations regarding the quantity of Isopropyl Ester used in the preparation of cosmetics & personal care product may restrict the growth of Isopropyl Ester Market.
Increasing consciousness about health, widening application scope and relatively cheaper cosmetics & beauty care products are major drivers of isopropyl market in the emerging countries of Asia Pacific. Food processing segment is anticipated to witness above average growth over the next six years owing to Isopropyl Ester consumption as emulsifiers and stabilizers in various processed food.
The Global Isopropyl Ester Market is segmented on the basis of application, end use industry and region.
Based on the Application, market is segmented into emollient, flavoring agent, plasticizer, solvent, engine fuel, and others.
Based on the End Use Industry, the market is categorized into lubricant, surfactant & detergent, food, cosmetics & personal care, pharmaceutical and others.
Based on Region, this market is segmented into Asia Pacific, Europe, Latin America, North America, and Middle East & Africa.
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