Global Isopropyl Palmitate market: Introduction and definition
Isopropyl palmitate is an ester of isopropyl alcohol and palmitic acid. Isopropyl palmitate is obtained by the condensation of carboxy group of palmitic acid with propan-2-ol. The molecular formula of isopropyl palmitate is C19H38O2. It is also identified as detyl prime and propal. Isopropyl palmitate is colorless, odorless and available in liquid form. Isopropyl palmitate is soluble in benzene, acetone and ethanol. When it is stored properly at room temperature, Isopropyl palmitate has a shelf life of two years from the date of manufacturing. Heating of isopropyl palmitate results in decomposition with emission of acid fumes and smoke. Isopropyl palmitate is used in manufacturing of pesticides, cosmetics and fragrance. Along with this the primary application of isopropyl palmitate is that it function as physical stabilizer in antiperspirant stick, it also functions as an emollient emulsifier, spreader, film former and solvent in cream and lotion. Isopropyl palmitate finds wide range of application in pesticides as an ingredient.
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Global Isopropyl Palmitate market: Market Dynamics
The significantly growing population drives the demand for personal care products owing to rising living standards coupled with disposable income across middle class population. The isopropyl palmitate market has been witnessing growth, owing to the increasing saturation of surfactant-based industries, such as soap and detergent and personal care and cosmetics. Sustainability and modernization are key trends for the global isopropyl palmitate market in near future.
With the improving purchasing power, demand for enhanced products such as anti-ageing products, moisturizers, and other skin care products, etc. anticipated to drive the global Isopropyl palmitate market over forecasted period. However, in United States and Taiwan use of isopropyl palmitate is restricted by the governing authorities as it contains some toxic constituents which can adversely affect the environment. In addition, the availability of substitutes such as cold-pressed plant oils and coconut oil act as key threat for the global isopropyl palmitate market.
Global Isopropyl Palmitate market: Market Segmentation
Global isopropyl palmitate market can be segmented on the basis of source, application, end-use and regions. On the basis of source, the global isopropyl palmitate market can be segmented as mentioned below:
On the basis of application, the global isopropyl palmitate market can be segmented as mentioned below:
- Binding Agent
- Thickening Agent
On the basis of end-use industries, the global isopropyl palmitate market can be segmented as mentioned below:
- Food & Beverages
Global Isopropyl Palmitate market: Regional Outlook
From regional perspective, Europe is estimated to account for the dominating share in global isopropyl palmitate market and is register substantial growth in upcoming year. Several growth factor such as increasing demand of cosmetic and personal care products are fueling the demand of isopropyl palmitate market. Further, North America witnessed significant share in the global market and growing with a moderate rate.
Collectively, South Asia and East Asia regions holding one fourth of the global market share in the global isopropyl palmitate. As, the gradual globalization of the economy combined with growing fragmentation of groups have served to bring disparate areas of globe in contact with one another in a very tangible way. With increasing GDP and quadrupled consumption, Asia Pacific’s urban population is expected to increase rapidly, which in turn, will result in more consumption and growth in key end markets over the next decade with an increased need for better products and services. Furthermore, Middle East and Africa are witnessed to have relatively moderate growth in global isopropyl palmitate market.
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Global Isopropyl Palmitate market: Industry Participants
The global market for isopropyl palmitate market is highly consolidated owing to the limited presence of market players. Few of them are listed as mentioned below:
- Vigon International
- GJ Chemicals
- Wha Costech Inc.
- Anyang weibisheng trading co., ltd
- Henan Tianfu Chemical Co., Ltd.
- Jinan Aery Pharmaceutical Co, Ltd
- Nanjing Raymon Biotech Co., Ltd.
- Hangzhou Fandachem Co., Ltd
- Hubei aoks trade co., ltd