Enjoy complimentary customisation on priority with our Enterprise License!
The isopropylamine market size is forecast to increase by USD 111 million, at a CAGR of 5.7% between 2023 and 2028. The market is experiencing significant growth, driven by expanding applications in the agrochemicals industry and increasing demand from the pharmaceutical sector. Agrochemicals are witnessing increased adoption due to their effectiveness in pest control and crop enhancement. In the pharmaceutical industry, isopropylamine is a crucial intermediate in the production of various drugs, including antipsychotics and antidepressants. However, market growth is influenced by the volatility in crude oil prices, as isopropylamine is derived from propylene, which is produced from crude oil. Despite this challenge, the market is expected to continue its upward trajectory, fueled by the growing demand for agrochemicals and pharmaceuticals. It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the market forecast report includes historic market data from 2018 to 2022.
To learn more about this market report, Download Report Sample
The market is pivotal in various industries, including agriculture, pharmaceuticals, and chemicals. As an organic compound, isopropylamine is used in the production of crop protection agents, pesticides, adhesives, and fuel additives, reflecting its importance in industrial and agricultural chemicals. Key applications also include its role as a catalyst in chemical processes and as an intermediate in producing sulfonic acids, dodecyl benzene, and other industrial chemicals. However, the market faces challenges such as production disruptions and safety concerns related to its flammable nature and potential dermatitis risks. Competition analysis indicates that while there is significant product innovation and a focus on sustainable production techniques, sales declines and environmental impact concerns are affecting growth. Despite these hurdles, ongoing catalyst development and efforts to improve production techniques are crucial for maintaining market stability and addressing the demands of diverse sectors, including paper, paint, and lubricant additives.
The expansion of the rubber and plastic industry is a key factor driving the growth of the global isopropylamine market. Expansion in the rubber and plastic industries is likely to boost the demand for isopropylamine. Industries in the plastics and rubber products manufacturing subsector make goods by processing plastic materials and raw rubber. The core technology employed by establishments in this subsector is that of plastics or rubber product production. The production of plastic is now one of the largest industries in the packaging market.
Moreover, with products ranging from mobile phones to car bumpers via syringes, plastic production is still increasing. Rubber is a material that can be achieved either by processing latex naturally secreted by certain plants (e.g., rubber trees) or by an industrial process. Rubber is also used in many industrial applications and daily used products. Isopropylamine acts as a regulating agent for plastics and an additive in the petroleum industry. Such factors are expected to drive the growth of the market during the forecast period.
Increasing demand from the pharmaceutical industry is the primary trend in the global isopropylamine market growth. Isopropylamine is one of the most prolific members of nitrogen-based organic compounds, which also constitute the indirect source of ammonia. Amines are derived by replacing one or more hydrogen molecules from ammonia with one or the other alkyl molecules. Amines are widely used in the pharmaceutical industry. It contains a ring-like structure known as the aryl group, which is majorly seen in pharmaceuticals such as antipsychotic aripiprazole cholesterol-lowering rosuvastatin, local anesthetic lidocaine, and anticancer drug imatinib, and is also used as solvents and catalysts in various drug manufacturing.
Further, the demand for isopropylamine is increasing in the pharmaceutical industry owing to increasing awareness regarding health issues. Amines have gelling, stabilizing, and texture-enhancing properties, as well as several pharmaceutical uses, and they have medical and pharmaceutical applications for tissue regeneration, allergy relief, dental care, bone repair, and drug manufacturing. Such factors are expected to boost the growth of the market during the forecast period.
Volatility in crude oil prices is a major challenge to the growth of the global isopropylamine market. The market is impacted owing to fluctuations in crude oil prices. As the major raw material for isopropyl production is propylene, a petroleum derivative, fluctuations in crude oil prices hamper the production capacity and the cost of production of propylene. Propylene, being a key chemical building block for various industrial products, is directly produced from oil or its derivatives, such as naphtha or liquefied petroleum gas. A decline in oil prices in recent years has compelled the players operating in the oil and gas industry to implement cost-cutting measures such as workforce layoffs.
Despite the increase in Brent and WTI crude oil prices, the Energy Information Administration (EIA) is predicting that there might be a decline in demand for oil in the coming months. The supply of and demand for isopropylamine raw materials are directly affected by the volatility in crude oil prices owing to the changing exchange rates, import/export levels, and cutting down production capacity. Thus, the prices of isopropylamine vary in tandem with the prices of natural gas and crude oil. Such factors may hamper the growth of the market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Arkema Group:- The company offers isopropylamine for adhesives, paints, and resins, pharmaceutical and agrochemical development.
The report also includes detailed analyses of the competitive landscape of the market and information about 12 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the agriculture segment will be significant during the forecast period. The agriculture sector is one of the major end-users of isopropylamine, which is a chemical intermediate used in the manufacture of herbicides, insecticides, and other agrochemical products. Moreover, It is important to note that the use of agrochemical products, including those made with isopropylamine, may have negative impacts on the environment and human health, and proper regulations and guidelines must be followed to minimize these impacts. Therefore, the above-mentioned factors are expected to increase the demand for isopropylamine, which, in turn, will fuel the market growth during the forecast period.
Get a glance at the market contribution of various segments Request a PDF Sample
The agriculture segment was valued at USD 112.10 million in 2018. The agriculture sector is one of the major end-users of isopropylamine, which is a chemical intermediate used in the manufacture of herbicides, insecticides, and other agrochemical products. The demand for isopropylamine from the agriculture sector is driven by the growing demand for agrochemical products to support food security and agricultural productivity. The use of herbicides and insecticides helps in controlling pests and weeds, which can reduce crop damage and increase yields. Isopropylamine is also used in the production of various other agricultural products, such as seed treatments, plant growth regulators, and fungicides. The growing demand for high-yielding crops, the increasing global population, and the need to improve agricultural productivity are expected to drive the demand for isopropylamine in the agriculture sector during the forecast period.
For more insights on the market share of various regions Request PDF Sample now!
APAC is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The isopropylamine market in the Asia-Pacific region is expected to grow owing to the increasing demand for personal care products, pharmaceuticals, and agricultural products in the region. The Asia-Pacific region is one of the largest consumers of personal care products, and the demand for these products is expected to increase in the future, which will drive the demand for isopropylamine as a surfactant in these products. The region is also home to a rapidly growing pharmaceutical industry, which is expected to drive the demand for isopropylamine as an intermediate in the production of pharmaceuticals during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
Isopropylamine is a colorless liquid with an ammonia-like odor, widely used as a chemical intermediate in various industries. It is extremely flammable and can release toxic oxides during combustion. In the agrochemical industry, isopropylamine is used in the production of herbicides like Atrazine, Glyphosate, and Bentazon. It also finds applications as an active ingredient in surfactants, pH changes, rubber accelerators, and sealants. Additionally, isopropylamine is used in the synthesis of active pharmaceutical ingredients, including those for herbicides, insecticides, dyes, bactericides, fungicides, antibiotics, antidepressants, and various healthcare costs. As a chemical intermediate, it is also used in the production of industrial and pharmaceutical chemicals. The competition in the isopropylamine market is intense, with key players employing both organic and inorganic growth strategies. Organic growth strategies include customization options and collaborations, while inorganic growth strategies include acquisitions and mergers. The market for isopropylamine is expected to grow significantly due to its wide applications in various industries, including the Agrochemical industry, where it plays a crucial role in increasing crop yield. The market analysis also highlights the importance of continuous manufacturing and chemical synthesis in the production of isopropylamine.
|
Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
160 |
|
Base year |
2023 |
|
Historic period |
2018 - 2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 5.7% |
|
Market growth 2024-2028 |
USD 111 million |
|
Market structure |
Concentrated |
|
YoY growth 2023-2024(%) |
5.3 |
|
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
|
Performing market contribution |
APAC at 44% |
|
Key countries |
US, China, India, Germany, and Canada |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Arkema SA, BASF SE, DuPont de Nemours Inc., Eastman Chemical Co., Leo Chemo Plast Pvt. Ltd., Nanjing Qinzuofu Chemical Co. Ltd., OQ SAOC, Restek Corp., Shanghai Jianbei Organic Chemical Co. Ltd., Solvay SA, Tokyo Chemical Industry Co. Ltd., and Zhejiang Jianye Chemical Co. Ltd. |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Get the report (PDF) sent to your email within minutes.
Complimentary full Excel data with your report purchase.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
