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Comprehensive Report on Monoisopropanolamine Market by Future Market Insights 2016 - 2026
Dispersion agent is the foremost application for MIPA and this trend is anticipated to continue during the forecast period. MIPA is used as a dispersion agent in production of pigments including titanium dioxide. MIPA is used in the production of adhesives and for alkalinity contribution in production of several chemicals and industrial products. MIPA is also used for cross linking in coatings including waterborne coatings. Manufacturing of polyurethanes is among major application segment for MIPA. Niche applications for MIPA include gas conditioning as an agent to remove acidic gases, lubricants, corrosion protection and paint removers among others. Major end user industries for MIPA include agriculture, paints, coatings, automotive, chemical production among others. Paints & coatings dominate the global demand for MIPA and this trend is expected to continue for the next six years. MIPA is used in the production of herbicides which is among the fastest growing application segment for MIPA.
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Titanium dioxide production is among major application segment for MIPA. Increasing demand for MIPA has been among major factor driving demand for MIPA and this trend is anticipated to continue during the forecast period. High growth in automotive industry also has been driving demand for MIPA. Increase in demand for paints & coatings for several end user industries including automotives, construction and machinery among others. Therefore increase in demand for paints & coatings also have been among foremost factors driving demand for MIPA. The environmental and health hazards associated with the production of MIPA have led to surge in number of regulations to control the production of MIPA that have been a major factor restraining growth of the global MIPA market. Increase in research and development activities to increase the application scope of MIPA is anticipated to offer huge growth opportunity in the market.
North America dominated the global MIPA market in 2013, moreover demand for MIPA in North America is anticipated to grow at a sluggish rate owing to increase the regulations to control the hazards associated with production of MIPA. Asia Pacific was the second largest market for MIPA in 2013 and is anticipated to be the fastest growing region for a foreseeable future. Increasing industrial investment and high GDP growth in the emerging economies of India and China is among foremost factors driving demand for MIPA in Asia Pacific. Moreover, high GDP growth in India and China has led to growth in several end user industries including agriculture, paints & coatings, etc. Demand for MIPA in Europe is anticipated to grow at a sluggish rate till the end of 2020. Moreover reviving automotive industry in Europe is expected to be among major growth drivers for MIPA in Europe.
MIPA market is consolidated and few global players dominate the global MIPA market and constitute major portion of the global market share. Players compete on their pricing strategy as there is low scope of product differentiation in the market. The market is characterized by high degree of competition which is anticipated to remain the same over the forecast period. Some of the major players in the market include The Dow Chemical Company, E. I. du Pont de Nemours and Company and BASF SE among others.
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