H1 2023: Monoisopropylamine (MIPA) prices exhibited fluctuating patterns in Asia Pacific region in H1 2023. In the Chinese market, MIPA prices increased exponentially till March 2023. Supply and Demand Dynamics were narrow as there was an increase in demand for Monoisopropylamine (MIPA) coupled with a limited supply could drive prices higher. Other Factors such as increased industrial production, growing end-use applications like fertilizer industry further supported the high pricing trend. In the second quarter of 2023, Monoisopropylamine (MIPA) witnessed a substantial drop in the Asian market. Concurrently, global ammonia feedstock prices exhibited a decrease. The diminished ammonia prices resulted in producers reporting lower year-on-year earnings for Q2 2023, prompting them to persist in their commitment to low-carbon ammonia initiatives. Reduced MIPA purchases for downstream applications like dyes, pigments, pharmaceutical solvents, plasticizers, and adhesive components led to an accumulation of feed ammonia and raw materials. India's pharmaceutical sector performance further dampened market prospects, contributing to declined sales of MIPA. On the other hand, in the US the pricing dynamics for MIPA followed a downward trajectory due to a subdued demand outlook and a reduced number of inquiries encountered by manufacturers. Despite the relatively low cost of MIPA production, the overall market experienced a decline. The limited interest in the product by the agrochemical and pharmaceutical industry kept the MIPA prices low in the US.
The global Monoisopropylamine (MIPA) market stood at approximately 100 thousand tonnes in 2022 and is anticipated to grow at a CAGR of 5.6% during the forecast period until 2032.
Monoisopropylamine (MIPA) stands as a hygroscopic and colorless liquid possessing an ammonia-like odor. Exhibiting miscibility with water and flammability, MIPA emerges as a crucial intermediary within the chemical sector. Its versatile applications encompass agrochemicals, pharmaceuticals, and dyestuff, contributing significantly to various industrial processes. In the realm of plastics, MIPA serves as a regulating agent, finding utility in the organic synthesis of coating materials, plastics, pesticides, rubber chemicals, and pharmaceuticals. Furthermore, its role extends to the petroleum industry, where it functions as an additive, showcasing its adaptability across diverse sectors. The distinctive properties of MIPA position it as a valuable component in the intricate landscape of chemical processes, embodying its significance in the synthesis and enhancement of materials crucial for numerous industries.
Monoisopropylamine (MIPA) stands out as a pivotal market driver, showcasing its versatility and indispensable role across diverse industries. In agriculture, MIPA plays a vital role in the synthesis of herbicides (intermediate for atrazine and glyphosate), fungicides, and pesticides, contributing to crop protection in the expanding agricultural sector. The pharmaceutical industry benefits from MIPA's applications as an intermediate in drug synthesis, aligning with the continual growth of the healthcare sector and rising health-related concerns globallyAs a chemical intermediate, MIPA meets the demand in the growing chemical manufacturing sector, supporting the production of various compounds. Its role in personal care products, such as cosmetics and toiletries, aligns with the flourishing cosmetics industry driven by consumer preferences for personal grooming and beauty products. In addition to its applications in agriculture, pharmaceuticals, chemicals, and personal care, MIPA finds use in the textile and leather industries, contributing to processes like dyeing and finishing. The interconnectedness of MIPA across these industries positions it as a driving force, with its demand influenced by trends in agriculture practices, advancements in healthcare, chemical manufacturing needs, personal care preferences, and the evolving textile and leather sectors. As a result, MIPA stands as a versatile and essential component, propelling growth and innovation across multiple industrial landscapes. The global Monoisopropylamine (MIPA) market size is anticipated to reach nearly 175 thousand tonnes by 2032.
Based on region, Asia Pacific region is the biggest consumer of Monoisopropylamine (MIPA). The Asia-Pacific region stands at the forefront of Monoisopropylamine (MIPA) market dominance due to several strategic factors. Rapid industrialization, especially in countries like China and India, propels the demand for chemicals, including MIPA, essential in diverse industrial processes. The region experiences substantial growth in end-use industries such as agrochemicals, pharmaceuticals, and the production of surfactants and polymers, further fueling the demand for MIPA. The agricultural sector's prominence, with a significant portion of the population engaged in agriculture, sustains a consistent need for agrochemicals, including MIPA for herbicides and fungicides, contributing to market expansion. Moreover, the Asia-Pacific benefits from favorable government policies supporting industrial innovation and growth, fostering investments in the chemical sector and creating a positive impact on the Monoisopropylamine market.
Based on the end-user industry, the global Monoisopropylamine (MIPA) market is divided into Agrochemicals, Pharmaceuticals, Surfactants, and Others. However, Agrochemicals industry dominates the global Monoisopropylamine (MIPA) market followed by Pharmaceuticals industry.
Major players in the Global Monoisopropylamine (MIPA) market are BASF SE, Dow Inc, Eastman Chemicals, Alkyl Amines Chemicals Limited, Xinhua Chemical, Anhui Haoyuan Chemical Group, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Monoisopropylamine (MIPA) which covers production, demand and supply of Monoisopropylamine (MIPA) market in the globe.
• To analyse and forecast the market size of Monoisopropylamine (MIPA)
• To classify and forecast Global Monoisopropylamine (MIPA) market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Monoisopropylamine (MIPA) market in the globe.
To extract data for Global Monoisopropylamine (MIPA) market, primary research surveys were conducted with Monoisopropylamine (MIPA) manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Monoisopropylamine (MIPA) market over the coming years.
ChemAnalyst calculated Monoisopropylamine (MIPA) demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Monoisopropylamine (MIPA). ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Monoisopropylamine (MIPA) manufacturers and other stakeholders
• Organizations, forums and alliances related to Monoisopropylamine (MIPA) distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Monoisopropylamine (MIPA) manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Monoisopropylamine (MIPA) market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
100 thousand tonnes
Market size Volume in 2032
175 thousand tonnes
Growth Rate
CAGR of 5.6% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Agrochemicals, Pharmaceuticals, Surfactants, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Member - Board of Directors
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What was the net market size of Monoisopropylamine (MIPA) in terms of volume in 2022?
Ans:
The global market size of Monoisopropylamine (MIPA) had reached approximately 100 thousand tonnes in 2022.
Q2.
Which region is the major consumer of Monoisopropylamine (MIPA)?
Ans:
Asia Pacific region is the leading consumer of Monoisopropylamine (MIPA) globally.
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