Isopropyl Esters Market 2018 | Industrial Applications Witness Fastest Growth | Global Key Players, End Use Industry and Region Forecast 2023

Isopropyl Esters Market Accrues Corrosively; Asserts MRFR Unleashing Industry Prognostications Up To 2023
Global Isopropyl Esters Market Information- by Application (Emollient, Flavoring Agent, Plasticizer, Solvent, Engine Fuel, and Others), by End Use Industry (Lubricant, Surfactant & Detergent, Food, Cosmetics and Personal Care, Pharmaceutical and Others) and by Region- Forecast till 2023

Isopropyl Esters Market – Market Overview

Isopropyl Esters are produced by the reaction between methyl ester and Isopropyl Alcohol. Various types of Isopropyl Esters available in the market are isopropyl myristate, isopropyl laurate, isopropyl palmitate, isopropyl oleate, and others. Isopropyl Ester possess excellent properties such as good skin penetration, low toxic nature, which make it suitable for used as an emollient, moisturizer, and thickening agent in cosmetics and personal care industry. Isopropyl Ester possesses high lubricity and excellent stability at low temperature, which makes it’s used in lubricant and surfactant & detergent industries.  It is used as a flavouring agent in food industry. They possess excellent cold flow properties which makes it suitable for usage in biodiesel. Isopropyl ester- based biodiesel has greater efficiency and performance than the type of methyl ester. Consumption of fossil fuel is increasing day by day whereas reserves of fossil fuel is depleting, due to this situation the demand of biofuel is growing in the emerging countries. This is consequently expected to drive the growth of Isopropyl Ester Market globally. Isopropyl ester also find application as a solvent in medicine preparation, thus find ensures the steady revenue source to the pharmaceutical industry. Increasing per capita disposable income coupled with rising awareness regarding personal grooming are expected to be driving the Global Isopropyl Esters Market during the forecast period. Rising packaged food consumption due to busy lifestyles and easy availability is likely to drive the food industry and boost the Global Isopropyl Ester Market over the forecast period. However, expensive price of Isopropyl Ester in comparison with methyl ester may hinder the growth of Isopropyl Ester Market over the forecast period.

The Global Isopropyl Ester Market is segmented on the basis of type into isopropyl myristate, isopropyl laurate, isopropyl palmitate, isopropyl oleate, and others. On the basis of application, the market is segmented into emollient, flavouring agent, plasticizer, solvent, lubricant, and others. On the basis of end use industries, Isopropyl Ester is segmented into automotive, home care, food, cosmetics and personal care, pharmaceutical and others. Cosmetics and personal care industry held around 45% market share of the Global Isopropyl Esters Market owing to its wide utilization in the formulation of consumer products ranging from hair oil to skin cream.

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Asia Pacific accounted to be the largest market of Isopropyl Ester in 2016 and is expected to show rising demand during the forecast period. Vast application of Isopropyl Esters in cosmetics and personal care, lubricant and food industries are majorly drive the demand of Isopropyl Esters Furthermore, demand from biodiesel as an alternative fuel have been witnessing significant growth in countries such as India and China. However, Isopropyl Ester is slightly expensive than methyl ester when using as a biofuel, this may restrict the growth of market. North America is following Asia Pacific in terms of market size and is expected to exhibit significant growth during the forecast period 2018-2023. Growing food, cosmetics & personal care industry due to high disposable income, developed awareness pertaining to skin, high preference for convenience foods due to busy lifestyle are the factors contributing to the growth of the market. Europe is another major market of Isopropyl Esters and is expected to witness considerable growth during the forecast period.  The growth is expected to be majorly attributed from end-use industries such as food and cosmetics & personal care. Furthermore, strong automotive base in Germany show strong demand of lubricants, thus positively boost the Isopropyl Esters Market.

Isopropyl esters Market – Competitive Analysis

The global market of Isopropyl Esters is a lucrative market is expected to expand at an encouraging CAGR during the forecast years. The major strategies adopted by key players are expansion, collaborations or partnerships and product launch. In order to meet regulations, set by various bodies of respective regions, manufacturer is entering into agreement with raw material supplier to maintain profit across the value chain. In highly competitive market, companies are investing more in innovations and brand building thereby, fostering the strong relationship with customer. On other hand, major players are carrying out research & development activities to improve the properties of Isopropyl Esters.

Industry/ Innovation/ Related News:

May 2017- Bio based specialty chemical company Green Biologics is expanding its offering in the U.S cosmetics & personal care market by collaborating with Acme-Hardesy. The expansion is estimated to develop a 100% bio-based n-butyl and Iso-Propyl Esters under the brand name Biopure. According to company experts, Isopropyl Esters Market is estimated to achieve huge growth in the coming years. The expansion is estimated to increase the capacity to 90,000 tons annually.

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