Rockville, MD -- (SBWire) -- 06/20/2019 --Global Isopropyl Acetate Market: Snapshot
Isopropyl acetate is found in alcoholic beverages. It is isolated from ripening melons, apples, bananas, blackcurrants, other fruits and grape oil. The component is also present in cheddar cheese, soybean, beer ,red wine, white wine and plum brandy. Isopropyl acetate is a flavoring ingredient Isopropyl acetate is a solvent with a wide variety of manufacturing uses that is miscible with most other organic solvents, and moderately soluble in water.
Isopropyl acetate is an ester, an organic compound which is the product of condensation of acetic acid and isopropanol. It is a component of some printing inks and perfumes. It is a clear, colorless liquid with a characteristic fruity fragrance. Isopropyl acetate liquid and vapor are flammable. The product is stable at recommended temperature and pressure. Isopropyl acetate is incompatible with alkali metal hydroxides, such as sodium hydroxide, as well as nitric acid and strong oxidizers.
The paints and coatings industry is witnessing a surge in use of advanced materials. This could be a factor that could significantly restrain the growth of the global isopropyl acetate market in the forthcoming years. This could be ascribed to the fact that the use of the chemical in paints results in the release of volatile organic compounds (VOCs) in the atmosphere. However, the growing acceptance of isopropyl acetate as a fragrance carrier and in the automotive industry as a coating agent is expected to supersede the market restraints and aid growth.
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Global Isopropyl Acetate Market Introduction
Isopropyl Acetate is a colorless solvent with low flash point, aromatic fruity odor, and moderate solubility in water. Isopropyl acetate is increasingly being used as a solvent for rotogravure inks and flexographic printing inks. It is an active solvent for many types of synthetic resins such as cellulose acetate butyrate, nitrocellulose, vinyl copolymers, polyesters, polyamides, acrylics, and alkyds. Isopropyl acetate is an ester, manufactured by reacting acetic acid with isopropanol in the presence of a catalyst. Isopropyl acetate has excellent solubility for nitrocellulose, resin gums, plastics, paints, lacquers, inks, organic synthesis and perfumes. Significant demand for isopropyl acetate is projected to come from the advanced coatings industry for automotive and transportation segment.
Global Isopropyl Acetate Market Dynamics
Market Drivers
With the significant rise in demand for rotogravure inks i.e for magazines, books, newspapers, inserts and catalogues also packaging printing on metal and plastic film the global demand for isopropyl acetate is projected to grow. Moreover, isopropyl acetate is also being used for for flexographic printing inks i.e. for paper, cardboard etc. amongst others especially in Asia Pacific region, thus creating traction in the global market.
The rising demand for coatings in automotive industry is projected to create significant traction in the market. With the rise in vehicle production and demand for highly advanced coating material, the overall isopropyl acetate market is projected to grow significantly over the forecast period.
Isopropyl acetate is an excellent resin solvent with solubility with a number of organic solvents.
Another factor supporting the growth of isopropyl acetate is it is a no-HAP (hazardous air pollutant). The product also complies with the reach regulations thus it is preferably used over a number of specified applications.
Market Restraints
The global major impeding the growth of isopropyl acetate is the use of water based paints and coatings. With advancement in technology, the paints and coatings industry is developing high quality water based paints that have excellent durability, quick drying time and emit less odor. Additionally, after drying, solvent based paints form a film and the hydrocarbon solvents are evaporated; thus, releasing harmful volatile organic compounds in the atmosphere. The water based paints market is foreseen to grow at a healthy CAGR, owing to environmental and other benefits. The legislation is also in support of this trend. As a result, it affects the isopropyl acetate market.
One of the major challenge faced by the global isopropyl acetate market is the use of other solvents which have better solubility and are made from renewable feedstock. Thus affecting the market growth
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Market Trends
Conventionally, the use of isopropyl acetate was limited to printing inks and coatings industry. However, over the past few years, there has been an increase in use as fragrance carrier. Moreover, the manufacturers are focusing on developing green processes for the manufacture of isopropyl acetate in order to sustain the market competition.
Global Isopropyl Acetate Market Segmentation
The global isopropyl acetate market can be segmented on the basis of application and region
On the basis of application, the global isopropyl acetate market can be segmented as:
Cleaning fluids
Coatings
Automotive OEM
Automotive Refinish
Can and Coil coatings
General Industrial coatings
Marine coatings
Industrial wood coatings
Other Transportation
Printing Inks
Cosmetic/ Personal Care solvent
Perfumes and Fragrances
Pharmaceutical
Pesticides and Insecticides
Others
Global Isopropyl Acetate Market: Regional Outlook
The global isopropyl acetate market is anticipated to be dominated by Asia Pacific region with significant customer base for paints and coatings industry in the region. Moreover, there has also been a significant demand for coatings in the automotive sector in the region. North America and Europe are also projected to represent significant share in the global isopropyl acetate market owing to the increase in demand from cosmetics and personal care segment. Regions such as Latin America, Middle East and Africa and Japan are projected to hold relatively lower share in the global isopropyl acetate consumption and are projected to register sluggish growth over the forecast period.
Global Isopropyl Acetate Market Participants
Some of the market participants identified across the value chain of the global Isopropyl Acetate market are:
The Dow Chemical Company
Eastman Chemical Company
Sigma Aldrich
Monument Chemical
Sisco Research Laboratories Pvt. Ltd
INEOS Oxide
Pidilite Industries Ltd.
Kane International Corporation
SONTARA ORGANO INDUSTRIES
Zhejiang Jianye Chemical Co., Ltd.
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