Isophorone Market Share & Trends Analysis, By Product Type (Liquid condensation, Solid heterogeneous catalytic condensation), By Solvent Applications (Printing ink solvents, Lacquers, Paints, Adhesives), By End-use (Construction, Automobile) & By Region Forecast - Global Review 2021 to 2031
Isophorone Market: Overview
The global demand for isophorone witnessed a massive downfall in the first half of 2020 on account of lockdown and social distancing barriers implemented due to the spread of coronavirus disease throughout the world. Big as well as small manufacturing companies went through the worst phase and suffered heavy losses in 2020. To overcome the previous losses, business firms in 2021 are focusing on research and developments to ensure uniqueness in their services.
Leading companies such as The Dow Chemical Company, Prasol Chemicals Pvt. Ltd., Evonik Resource Efficiency GmbH, SI Group, Inc., TCI Chemicals (India) Pvt. Ltd., KH Chemicals, Thermo Fisher Scientific Inc., LGC Limited and others are actively indulged in the adoption of several market strategies like joint ventures, collaborations, partnership agreements, technological advancements, sales agreements, capacity utilizations, innovations, diversifications, geographical expansions etc to ensure improvements in their operations globally.
For instance, Evonik, announced the extension of service life of joint prostheses with PEEK biomaterials. The company is exploring the possibilities of extending the possibilities of using the high performance polymer VESTAKEEP PEEK. The polymer has delivered impactful results. Evonik collaborated with Harris Orthopaedics Laboratory at the Massachusetts General Hospital in Boston. With this collaboration, Evonik transferred innovation from veterinary to human medicine and is actively conducting partner search for further development steps.
Isophorone is a clear to pale yellow liquid with a distinguished odour. Apart from being lighter than water, isophorone is moderately water soluble. It exhibits excellent solvent properties for resins, polymers (natural and synthetic), binders and a number of different chemical products. Isophorone is toxic when ingested and causes irritation upon contact with the skin.
It is used as an intermediate in organic synthesis and as a solvent. For instance, in the construction industry, isophorone is applied as a corrosion resistant on bridges, scaffolding and/or sluices. It is one of the vital constituents in wood preservatives and floor sealants. Isophorone is added to automobile paints. It is also proven to improve the properties of fuel.
Owing to its special molecular structure, isophorone is used as a raw material in the production of several chemicals. It acts as an intermediate in manufacturing compounds such as isophorone diamine and isophorone diisocyanate. These are mainly polyurethane field compounds and isophorone plays a prominent role in their production.
Isophorone derivatives are used in several areas: for metal cans, metal paints and nitrocellulose finishes. It is also used in vinyl chloride or acetate-based coating systems. Manufacturers of printing inks used for plastics also demand a smooth supply of isophorone. It helps improve the brightness and fluidity of paints, adhesives and printing inks.
There is a growing concern worldwide about animal protection, owing to which natural leather has been effectively banned in several nations. Stringent government policies, coupled with recent scientific advancements, are likely to drive the demand for isophorone due to its applications in artificial leather. The growing requirement of paints and coatings from around the world is expected to maintain the high demand for isophorone in the near future.
Isophorone is used as a base solvent in pesticides. However, the overuse of pesticides, mainly in agricultural countries, has resulted in growing health concerns among concerned authorities. Due to this, there is low demand for isophorone-free pesticides, which, if not moderated, is likely to hamper the growth of the pesticides segment.
At present, the growth of the isophorone market vastly depends upon the growth of the paints, coatings and adhesives segments and it is expected to witness stable growth due to its demand in the North America and Asia Pacific regions.
North America is considered to be the largest market for isophorone in terms of volume. It is followed closely by Asia Pacific, which is expected to be the fastest-growing market during the forecast period, with China being the largest contributor to the share of the region. Several nations in Asia Pacific are experiencing steady growth in their economies. Increasing demand from the Asia Pacific region is driving the need for setting up new production plants for isophorone and isophorone diamine plants in China and other nations.
Owing to the aforementioned factors, China is one of the largest markets for protective coatings. It is expected to register steady growth in fields such as automotive, shipbuilding, construction and petrochemicals. Architectural coatings, which chiefly depend upon the development of industrial infrastructure, are witnessing growth in India. This is expected to boost the isophorone market in the Asia Pacific region. Countries such as Vietnam, South Korea and Singapore are demanding isophorone for their marine and wood coatings market. Increased usage of isophorone in coatings is expected to boost the market.
The U.S. is following China in the production of paints and coatings. Demands for paints and coatings is observed from developed regions such as Europe and North America due to the recovery of the construction industry in these regions. This is likely to boost the isophorone market in developed regions as well.
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List of Market Participants:
- The Dow Chemical Company
- Prasol Chemicals Pvt. Ltd.
- Evonik Resource Efficiency GmbH
- SI Group, Inc.
- TCI Chemicals (India) Pvt. Ltd.
- KH Chemicals
- Thermo Fisher Scientific Inc.
- LGC Limited
- QIANYAN NEW MATERIAL TECHNOLOGY CO.,LTD
- Jiangsu Huanxin High-tech Materials Co. Ltd.
- Chain Fong Co., Ltd.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaust analysis on:
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- Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa, Turkey)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
The isophorone market can be segmented on the basis of product type, solvent applications and end use.
On the basis of product type, the isophorone market is segmented into:
- Liquid condensation
- Solid heterogeneous catalytic condensation
On the basis of solvent applications, the isophorone market is segmented into:
- Printing ink solvents
On the basis of end use, the isophorone market is segmented into:
- Construction Industry
- Automobile Industry
- Chemical and Plastics Industry
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