According to Fact.MR, a market research and competitive intelligence provider, the global isopropyl acetate market is projected to reach a valuation of US$ 407.7 million in 2023 and is expected to grow at a CAGR of 5.2% during the forecast period from 2023 to 2033.

The rising demand for personal care and cosmetics products among millennials worldwide is anticipated to drive significant growth in isopropyl acetate consumption. Products such as aftershave lotions, makeup items, nail care solutions, and skin and hair care products are creating numerous opportunities for market expansion.

Isopropyl acetate is also extensively used in the production of coatings, with applications spanning various industries, particularly automotive. Original Equipment Manufacturers (OEMs) utilize it for coatings, refinishing, and other processes. As the automotive industry continues to grow, the demand for coatings to enhance vehicle aesthetics and improve durability is rising, which is expected to further boost the market for isopropyl acetate.

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Key Takeaways from Market Study

  • The global isopropyl acetate market is forecasted to expand at a CAGR of 5.2%, reaching a valuation of US$ 676.9 million by 2033.
  • The market experienced a 4.0% CAGR growth from 2018 to 2022.
  • The U.S. market is projected to grow at a CAGR of 5.2% during 2023–2033.
  • North America is expected to account for 24.3% of the global market share.
  • East Asia will continue to dominate as the largest regional market for isopropyl acetate.
  • China's market is anticipated to grow at a slightly higher CAGR of 5.4% through the forecast period.

“Growing Demand from Printing Inks and Coating Industries is Likely to Drive Isopropyl Acetate Market During the Assessment Period” says a Fact.MR analyst.

Market Growth Strategies

Market players are focusing on building long-term partnerships with acetic acid manufacturers, a critical raw material for producing isopropyl acetate, to ensure resilience during unfavorable trade conditions. Additionally, manufacturers are making significant investments in research and development to explore new end-use applications for isopropyl acetate, aiming to achieve higher profit margins.

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Market Frontrunners

  • SEQENS SPS
  • DOW
  • EASTMAN Chemical Company
  • INEOS
  • Monument Chemical
  • Pidilite Industries Ltd.
  • Sankyo Chemical Co. LTD.

Market Titans Key Strategies

The global isopropyl acetate market is largely dominated by a select group of key players operating at full capacity to meet global demand. These players closely monitor consumer behavior, market trends, raw material price fluctuations, and strategically important regions for establishing production facilities.

Companies have strategically positioned their production bases in prime locations worldwide, ensuring they remain competitive while driving market growth. To build trust among consumers, players leverage targeted marketing strategies and adopt innovative approaches.

Both organic and inorganic growth strategies, including strategic acquisitions, are prevalent in the market. These efforts ensure a competitive landscape and enable manufacturers to deliver optimal outcomes. Backed by the robust foundation of the chemical and petrochemical industries, the demand for isopropyl acetate is surging due to its expanding applications, a trend expected to sustain over the long term.

Fact.MR has provided comprehensive insights into the price points, sales growth, production capacities, and potential technological advancements of key isopropyl acetate manufacturers across regions in its recently published report.

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the isopropyl acetate market, presenting historical market data (2018–2022) and forecast statistics for the period of 2023–2033.

The study reveals essential insights on the basis of grade (>98% and <98%), function (additive, intermediate, plasticizer, stabilizer, and others), application (automotive, architectural coatings, wood coatings, printing inks, packaging & components inks, personal care ingredients, pharmaceutical, and cleaning fluids perfumes & fragrances), and across major regions of the world (North America, Latin America, Europe, East Asia, South Asia, and Oceania, Middle East & Africa).

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