Isophorone Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3654
Isophorone Market size will be experiencing an impressive growth in the coming years owing to its demand as an essential solvent in major industries such as paints & coatings, construction, printing inks, plastics and agrochemicals. It is a stable, colorless liquid with odor similar to mild peppermint. It possesses a high boiling point, high solvency power and is a low pressure liquid. These properties makes it an ideal solvent for number of chemicals production. On the other hand, isophorone also function as chemical intermediate for wide number of reactions.
Isophorone is α, β-Unsaturated carbonyl compounds. It is produced on large scale by the aldol condensation of acetone with potassium hydroxide as an ingredient. The intermediates used in the isophorone production are mesityl oxide, diacetone alcohol, and 3-hydroxy-3,5,5-trimethylcyclohexan-1-one. The biggest inhibitor to the isophorone market growth over the forecast period will be its high toxicity. The U.S. FDA regulates the product use under adhesives and coatings components. The product fumes are easily miscible in air, increasing its threat for nearby operators. The above restraint can hamper the product demand in the coming years.
Isophorone market is segmented according to its application in pesticides, disinfectants, polymers, aromatic hydrocarbons, printing ink, fats & oils, coatings, adhesives, lacquers and others. Coatings and lacquers solvent applications are projected to grow sharply over the forecast period. In other applications, isophorone is used for dissolving fats, oils or grease for cleaning purposes. In printing inks production, solvents are one of the important raw materials along with pigments, binders, and additives. Isophorone is used for to keep ink in liquid form when it is applied on plate or cylinder until it is used for printing.
Based on end-user, isophorone market is categorized into paints & coatings, construction, agrochemicals, printing & inks, chemical industry, plastics and others. Paints & coatings and construction industry have the major share in the end user segment. In case of agrochemicals, isophorone is largely used in the pesticides and herbicides production. The construction segment will also be increasing mostly due to the growing population, urbanization and economic activity in Asia Pacific. Though the plastic industry is facing pressure owing to its environmental effects, continuous plastic production indicates a decent growth curve for isophorone market by 2025.
Isophorone is used as solvent in adhesives production. Adhesive are used in number of industries such as automobile, construction, aerospace, electronics, medical, HVAC and also domestic Do-it-yourself activities. Adhesive find enormous use in construction industry for various activities such as flooring adhesives, architectural coatings, elastomeric roof coatings, water-proofing membranes, sealants, joint compounds, mortar modification, nonwoven applications, fiber-bonding, and mortar modification. In case of adhesive applications, the construction and automobile industries are observing a prompt growth owing to electric vehicles, self-driving cars, etc. The growing middle class spending capacity in Asia Pacific and Latin America will also be a deciding factor for automotive and construction growth in respective regions. Thus, strong growth indicators in these end-user industries will boost industry growth by 2025.
Isophorone market will experience a global demand from Asia Pacific region over the forecast period. It will be due to its solvent application in wide number of end user industries, that will experience demand in countries including China and India. Paints & coating industry growth is coupled with automotive and construction industry progress in Asia Pacific and Latin America will complement product demand. Increasing automotive OEM manufacturing activities in Latin American countries such as Mexico and Brazil will drive the paints & coatings and adhesive demand. Furthermore, according to FAOSTAT, average Asia Pacific pesticide consumption in has increased from 2.12 kilograms per hectare in 1990 to 12.71 kilograms per hectare of arable land in 2016. Asia Pacific countries such as China, Malaysia and India use highest quantity of fertilizers. The region is also known for its large fertilizer and insecticide production, with China leading the trend.
The companies operating in isophorone market are Dow Chemical, Prasol Chemical Pvt Ltd., Henan GP Chemicals Co., Ltd, SI Group, Evonik, TCI Chemicals (India) Pvt. Ltd., Hefei TNJ Chemical Industry Co, Ltd., Penta Manufacturing Company, Arkema.
Isophorone Market, By Applications, 2014-2025 (Tons) (USD Million)
- Aromatic hydrocarbons
- Printing ink
- Fats & oils
Isophorone Market, By End User, 2014-2025 (Tons) (USD Million)
- Paints & coatings
- Printing & Ink
- Chemical Industry
The above information has been provided for the following regions and countries:
- North America
- Australia & New Zealand (ANZ)
- South Korea
- Latin America
- South Africa
- Dow Chemical
- Prasol Chemical Pvt Ltd.
- Henan GP Chemicals Co., Ltd
- SI Group
- TCI Chemicals (India) Pvt. Ltd.
- Hefei TNJ Chemical Industry Co, Ltd.
- Penta Manufacturing Company
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