Isopropyl Palmitate Market Share

APAC Market Forecast

By 2036, Asia Pacific region is projected to hold more than 40% Isopropyl palmitate market share. India has one of the biggest chemical industries in the world and has the potential to become one of the top locations in the world for chemical manufacturing. India's chemical sector is developing; it ranks sixth in the world for chemical imports and eleventh for chemical exports globally.

For instance, India's chemical and petrochemical (CPC) sector is currently valued at over USD 175 billion, placing it in a prominent position on the global market. Besides this, one of the primary manufacturing sectors in China is the chemical industry, which is still larger than that of any other country. Moreover, the global income generated by the chemical industry wa foreseen to be around USD 5 trillion in 2022.

In addition, China boasts the largest textile sector globally, both in terms of total output and exports, which accounts for almost half of the world's production of apparel and textiles. For instance, China manufactured over 2 billion meters of apparel fabric in 2023. This may lead to a higher demand for isopropyl palmitate in the region.

North American Market Statistics

The North America isopropyl palmitate market is assessed to be the second largest, during the forecast timeframe led by the growing personal disposable income. As a result, more and more consumers are spending higher levels of disposable income on cosmetics and beauty products in the region, leading to a higher demand for isopropyl palmitate.

For instance, The United States' disposable personal income rose by more than 0.2% in December 2023 compared to the same month the previous year.