The latest market report published by Credence Research “Global Isophorone Market: Growth, Future Prospects, and Competitive Analysis, 2015 – 2027”. The Global Isophorone Market generated revenue of around USD 923.5 million in 2020 and anticipated to grow at a CAGR of over 2.8% during the forecast period from 2021 to 2027 to reach around USD 1,120.4 million in 2027.
Browse full report: https://www.credenceresearch.com/report/isophorone-market
Isophorone is α, β-Unsaturated carbonyl compound is a liquid that smells similar to peppermint. Isophorone can be dissolved in water and an industrial chemical used as a solvent in some paints, lacquers, printing inks, and adhesives. Also, it is used as an intermediate in the production of certain chemicals. While, isophorone is an industrial chemical, it occurs in cranberries. In addition, it is used in many end markets such as fine chemistry, coating, agrochemicals, inks, isocyanides, epoxy systems.
Key Trends in Global Isophorone Market
Growing requirements of paints and coatings
The growing requirement of paints and coatings from across the globe is one of the factors projected to fuel the growth of the global isophorone market. In addition, increasing adoption of isophorone by key players in the market is a factor estimated to drive the growth of the global isophorone market. Strict government policies, coupled with new scientific advancements, due to its applications in artificial leather are expected to drive the growth of the global isophorone market over the forecast period.
Impact of COVID 19 on Isophorone Market
Several governments and private businesses are operating on a limited capacity or have ceased operations due to recent COVID-19 pandemic. Also, manufacturing actions around the world came to a stop due to the unavailability of raw materials and shortage of labor. This is expected to hamper the isophorone market to some extent. COVID-19 pandemic is affecting the global financial system in three major ways: straight hampering production and demand, creating market trouble and supply chain, and adverse financial impact on financial markets.
Global Isophorone Market by Type Insights
Liquid condensation and solid heterogeneous catalytic condensation are some of the major types through isophorone. Liquid condensation segment accounted for the largest share in 2020 of the Isophorone Market in 2020.
Global Isophorone Market by Application Insights
Pink ink solvents, lacquers, paints, adhesives, coatings, copolymers, pesticides, finishing are the application of isophorone Market. In 2020, paints accounted for the largest share of isophorone Market.
Global Isophorone Market by End-use Industry Insights
Global Isophorone Market is segmented based on End-use Industry as Construction, Automobile, Agrochemicals, Paints & coatings, Printing inks, artificial leather. Construction accounted for the largest share of the Isophorone Market in 2020.
Global Isophorone Market by Regional Insights
The Europe market is accounted for the highest revenue share and is expected to dominate the global market over the forecast period. This is attributed to largest producer and consumer of Isophorone, and is expected to maintain the higher growth rate during the next five years. North America isophorone market is expected to register the fastest growth rate in the global market, due to the successful construction industry and unprecedented rise in building of structures such as complex, shopping mall, residential and commercial projects in the region. Also, the US is the second-largest producer of coatings and paints. These factors are expected to propel the isophorone market in the region in the near future. The Asia Pacific isophorone market is expected to highest CAGR over the forecast period, due to growth in construction and automotive sectors in the region.
Global Isophorone Market Competitive Landscape
Most prominent players in the global Isophorone Market include Arkema Group, CHAIN FONG, DowDuPont, Huntsman, Penta Manufacturing Company, TCI Chemicals (India) Pvt. Ltd., Evonik Industries, Jiangsu Huanxin High Tech Materials Co. Ltd, Ningbo New Material Technology Co. Ltd, Prasol Chemicals Pvt. Ltd., SI Group Inc., BASF SE, Covestro AG. The report covers very detailed profiles of these key players.
Global Isophorone Market by Type, 2015 – 2027
· Liquid condensation
· Solid heterogeneous catalytic condensation
Global Isophorone Market by Application, 2015 – 2027
· Pink ink solvents
Global Isophorone Market by End-use Industry, 2015 – 2027
· Paints & coatings
· Printing inks
· Artificial leather
Global Isophorone Market by Region, 2015 – 2027
· North America
· Asia Pacific
· Latin America
· Middle East and Africa
Global Isophorone Market: Key Players
· Arkema Group
· CHAIN FONG
· Penta Manufacturing Company
· TCI Chemicals (India) Pvt. Ltd.
· Evonik Industries
· Jiangsu Huanxin High Tech Materials Co. Ltd
· Ningbo New Material Technology Co. Ltd
· Prasol Chemicals Pvt. Ltd.
· SI Group Inc.
· BASF SE
· Covestro AG