Growth In Urbanization & Rising Demand For Residential & Commercial Construction Is Fueling The Demand For Isopropanolamines Market
Isopropanolamines Market Overview
Isopropanolamine is a basic chemical that can be used in many applications to achieve basicity, buffering, and alkalinity objectives. Isopropanolamines are good solubilizers of fat and oil, so they are used to neutralize sulfonic acid-based surfactants and fatty acids. Isopropanolamines offer considerable application flexibility because they may be used as primary, secondary or tertiary amines. In fact, many users employ a variety of isopropanolamines in their processes and products rather than relying on a single formulation.
The global Isopropanolamines market is expected to grow with a mid-single-digit CAGR during the forecast period, owing to the growth in urbanization & rising demand for residential & commercial construction, which is fueling the demand for isopropanolamines globally.
Isopropanolamines Market Dynamics
As Isopropanolamine helps in strengthening cement, manufacturers prefer isopropanolanime for a better quality of final products. Isopropanolamine also prevents cement particles from re-adhering or re-agglomeration, after & during the grinding process, which increases the process efficiency & material fluidity to streamline the cement manufacturing process. Also, the energy cost of industrial mills decreases due to the use of isopropanolamine in cement & concrete grinding aid application, which creates a lucrative opportunity for isopropanolamine in the market during the forecast period.
Due to the use of isopropanol in a wide area of application, such as cement and concrete processing aids, gas purification, surfactants, cosmetic formulations, corrosion inhibitors, metalworking fluids, emulsifiers, dispersants, and wetting agents, the demand for isopropanolamine continues to grow in the near future.
Growing urbanization & rising demand for commercial and residential constructional projects in the developing economies creates a huge demand for construction material (Cement). As isopropanolamine is used for cement & concrete grinding aid application, which is likely to boost the demand for isopropanolamine in the coming years.
However, risks associated with the volatility of raw material prices is a restraint for the growth of the market.
Isopropanolamines Market Regional Overview
The global market for Isopropanolamines is analyzed under major regions: North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa. The Asia Pacific region (including East Asia, South Asia & Oceania) is estimated to be dominating & fast growing Isopropanolamines market.
High growth in Asia Pacific region (including East Asia, South Asia & Oceania) is attributed to increase in demand for cement in developing economies of Asia Pacific. Due to rise in construction activity, Middle East & Africa is likely to be the next prominent region followed by Europe. Developed economies are likely to grow at a lower CAGR during the forecast period as the market for Isopropanolamines is already mature in these regions.
Isopropanolamines Market Competition Landscape
The global market for Isopropanolamines is dominated by major players and to enable in-depth assessment of the competition landscape, the report includes an analysis of major players. Some of the prominent players in the market are DowDuPont, BASF, Neo Chemical, Hongbaoli Group, Lucky Chemical Industry, Siddhi Chem, Nanjing HBL, Amines & Plasticizers Limited (APL), Beijing Debora Chemicals, Viswaat Chemicals Limited, SC Johnson, Norman, Fox & Co, Biesterfeld AG, TCI Chemicals, J&K Scientific and Dover Chemical among others. Leading market players are applying various techniques to get entry in the developing markets for isopropanolamine. Merger & acquisition with local players have been one of the key strategies adopted by the market players to support their global presence.
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