Isophorone Demand to Surge at 4.7% CAGR By 2032

The isophorone market analysis offered by Fact.MR scrutinizes key growth factors that are impacting sales in the market. The report offers in-depth insights covering key factors such as drivers, opportunities, key players' strategies, and demand outlook for the isophorone market. In addition to this, the study analyzes latest trends across various segments including product type and end use.

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The global isophorone market is expected to be valued at US$ 1.21 billion in 2022 and is likely to grow at a CAGR of 4.7% during the forecast period of 2022 to 2032. Eco-friendly and solvent capabilities of isophorone are the key factors that are boosting the demand for isophorone in diverse applications such as paints, adhesives, chemicals, and others.

Use of isophorone in construction and automotive industries is likely to fuel demand for isophorone over the next decade. Further, its advantage as a corrosion resistant chemical makes it an ideal choice in the road construction sector.
In addition, application of isophorone in coatings is expected to rise due to its excellent characteristics for polymers and binders. As it is used as a solvent and an intermediary for organic compounds, isophorone is extensively used as corrosion resistant on roads, sluices, and scaffoldings.

Isophorone is also widely used in the agrochemical industry. According to a recent study, the global agrochemical industry was valued at around US$ 30 billion and the trend is likely to continue over the upcoming decade.

Expansion of agrochemical industry is expected to create lucrative growth opportunities for isophorone market players over the assessment period. On the back of these aforementioned factors, the sales in isophorone market are expected to reach US$ 1.93 billion by the end of 2032.

Key Takeaways:

• North America is expected to be the largest market for isophorone, accounting for over 34% of market share globally.
• Europe will hold over 26% of demand share in global isophorone market during the forecast period
• Asia Pacific is likely to be the fastest growing market for isophorone during the forecast period (2022-2032).
• China is expected to spearhead the growth in Asia Pacific isophorone market on the back of rising application in construction and automotive sectors
• India isophorone market is predicted to grow at a steady pace over the upcoming decade backed by rising adoption in paints & coating industry

Growth Drivers:

• Use of isophorone as solvent in various applications such as coatings, construction, agrochemicals will boost isophorone market
• Corrosion-resistant properties of isophorone makes it an ideal candidate in applications, such as road construction and floor sealant, fuelling sales
• Preference for ultraviolet cured coatings is likely to provide an impetus to isophorone market demand over the forecast period

Restraints:

• Isophorone can cause a number of health issues in humans upon exposure such as irritation in upper respiratory tract, limiting the sales in the market.

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Competitive Landscape:

Leading players operating in isophorone market are adoption several inorganic and organic growth strategies such as mergers, product development, collaboration, and product launch to gain competitive edge.

Some of the key players are eyeing the emerging markets such as India and China to capitalize on expansion of construction and automotive industry. These players are focusing on establishing manufacturing facilities in these market to strengthen their foothold in the industry.

For instance:
• In March 2022, leading player, Evonik, unveiled its first renewable isophorone-based products, VESTASOL® IP eCO for isophorone, VESTAMIN® IPD eCO for isophorone diamine, and VESTANAT® IPDI eCO for isophorone diisocyanate, to address the sustainability concerns and reduce carbon emissions.

Key Companies Profiled by Fact.MR

• Dow
• Evonik Resource Efficiency GmbH
• SI Group, Inc.
• KH Chemicals
• Prasol Chemicals Pvt. Ltd.
• Thermo Fisher Scientific Inc.
• Jiangsu Huanxin High-tech Materials Co. Ltd.
• TCI Chemicals (India) Pvt. Ltd.
• LGC Limited
• QIANYAN NEW MATERIAL TECHNOLOGY CO., LTD

More Valuable Insights on Isophorone Market
In the latest study, Fact.MR offers a detailed study on global isophorone market for the forecast period of 2022 to 2032. This study also highlights key drivers promoting the sales of isophorone with analysis across below segments:

By Product Type:
• Liquid Condensation
• Solid Heterogeneous Catalytic Condensation
By End Use:
• Construction
• Automobiles
• Chemicals & Plastics
• Agrochemicals
• Paints
• Coatings
• Adhesives
• Inks
• Others
By Region:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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Key Questions Covered in the Isophorone Market Report
• What is the projected value of the isophorone market in 2022?
• At what rate will the global isophorone market grow until 2032?
• Which are the factors hampering the growth in the isophorone market?
• Which region is expected to lead in the global isophorone market during 2022-2032?
• Which are the factors driving the isophorone market during the forecast period?
• What is the expected market value of the isophorone market during the forecast period?

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This release was published on openPR.