MONOISOPROPANOLAMINE MARKET ANALYSIS
Monoisopropanolamine Market - Size, Share, Trends, and Forecast 2019 - 2027
The global monoisopropanolamine market size is expected to witness potential gains in the future and register a significant CAGR of 4.2% over the forecast period (2019 - 2027).
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Market Overview
Monoisopropanolamine is an amino alcohol that can be used in several applications to attain basicity, buffering, and alkalinity objectives. The colorless liquid with a slight ammonia-like odor is also known as 1-Amino-2-propanol. Monoisopropanolamine has the lowest molecular weight of the three standard isopropanolamines. It is corrosive to metals and tissue and is widely used as an emulsifier, stabilizer, surfactant, and chemical building block. Monoisopropanolamine can be prepared by the addition of aqueous ammonia to propylene oxide.
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Market Dynamics
Major applications of monoisopropanolamine include in the agriculture, construction material, electronics, and textiles industries. It is also used in manufacturing of dyestuffs, pigments, textile dyestuffs, veterinarian agents, and polyethers/polyoles and in water treatment. Increasing demand for monoisopropanolamine in the agriculture industry for the production of fungicides is expected to boost growth of the global monoisopropanolamine market over the forecast period.
Increasing demand for titanium dioxide is also expected to drive growth of the market. Monoisopropanolamine is used in the production of titanium dioxide. It is also used in personal care products, pharmaceuticals, metalworking products, and waterborne coatings. Industrial use includes lubricants and lubricant additives. Therefore, significant demand for monoisopropanolamine for industrial and residential use is expected to contribute to the market growth.
However, production of monoisopropanolamine is associated with the environmental and health hazards, which is expected to hinder growth of the market. Exposure to monoisopropanolamine can lead to irritation of eyes, nose, throat, and skin or even cause acute lung damage.
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Market Outlook
Among regions, North America held dominant position in the market in 2015. However, the market is expected to witness slow growth over the forecast period, owing to increasing regulations on the production process of monoisopropanolamine. Although monoisopropanolamine is biodegradable, it can act as an artificial air pollutant. The market in Asia Pacific is expected to witness significant growth, owing to increasing industrial and agricultural development in economies such as India and China. Growing paints and coatings industry is also expected to contribute to the market share of Asia Pacific. The market in Europe is majorly driven by increasing demand for titanium dioxide in the automotive industry.
Key Players
Major players operating in global monoisopropanolamine market include, E. I. du Pont de Nemours and Company, The Dow Chemical Company, and BASF SE.
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https://www.coherentmarketinsights.com/ongoing-insight/monoisopropanolamine-market-2850