The global monoisopropanolamine (MIPA) industry was pegged
at $82.2 million in 2020, and is expected to reach $140.8
million by 2030, growing at a CAGR
of 5.6% from 2021 to 2030. Allied Market Research recently published a
report, titled, "Monoisopropanolamine (MIPA) Market by End-use
Industry (Chemical Industry, Personal Care, Agrochemical, Pharmaceuticals,
Metalworking, and Others): Global Opportunity Analysis and Industry Forecast,
2021–2030". As per the report,
Major determinants of the market growth
Rise in demand from the
agricultural sector and surge in use of monoisopropanolamine in the personal
care and cosmetic industry have boosted the growth of the global
monoisopropanolamine (MIPA) market. However, the toxicity of
monoisopropanolamine hinders the market growth. On the contrary, advent of new
applications of monoisopropanolamine would open up new applications in the
future.
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Major Market Players
·
Aceto
·
Alkyl
Amines Chemicals Limited
·
Anhui
Sinotech Industrial Co. Ltd.
·
Arkema
S.A.
·
BASF SE
·
Eastman
Chemical Company
·
Hangzhou
Lingrui Chemical Co. Ltd.
·
Hongbaoli
Group Co. Ltd.
·
Lanxess
·
Muby
Chemicals
Covid-19 scenario:
During the Covid-19 pandemic,
several monoisopropanolamine manufacturing facilities and companies shut down
their business operations to curb the risk of infection among workers.
Due to the market's dependence on
chemical manufacturing, cosmetics, and metalworking, the market suffered heavy
losses during the pandemic.
However, use of monoisopropanolamine
for the synthesis of drugs in the pharmaceutical sectors opened up new
opportunities.
The personal care segment to manifest the highest CAGR through 2030
By end-use industry, the personal
care segment is estimated to portray the highest CAGR of 6.2% during the
forecast period, due to use of monoisopropanolamine for the formulation of
cosmetic products, shaving creams, and mascara. However, the chemical industry
segment held the largest share in 2020, accounting for more than one-third of
the global monoisopropanolamine (MIPA) market, owing to use of
monoisopropanolamine for neutralizing fatty acid chemical compounds and
sulfonic acid-based surfactants.
Get Detailed COVID-19
Impact Analysis on the Monoisopropanolamine (MIPA) Market @ https://www.alliedmarketresearch.com/request-for-customization/16048?reqfor=covid
Asia-Pacific, followed by North America, to register the highest
CAGR by 2030
By region, the market
across Asia-Pacific is expected to register the highest CAGR of
6.3% during the forecast period. Moreover, the region held the largest share in
2020, accounting for more than half of the global monoisopropanolamine (MIPA)
market. This is due to rise in agriculture, metalworking, personal care, and
the growth of chemical manufacturing sector. The market across North
America would showcase a CAGR of 5.2% from 2021 to 2030.
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