Demand for Isophorone to Remain High in Construction and Automobile Sectors, States Fact.MR
Demand for Isophorone to Remain High in Construction and Automobile Sectors, States Fact.MR
According to Fact.MR’s recently updated industry research report, the global Isophorone Market is calculated at a value of US$ 1.26 billion in 2024 and has been projected to expand at 4.7% CAGR over the forecast period (2024 to 2034).
The synthetic chemical compound isophorone, which has the formula C9H14O, is utilized as a raw material in several industries. Demand for isophorone is rising steadily across industries such as personal care, adhesives, coatings, and medicines. Growing demand from the coating and pharmaceutical industries is also driving the market forward.
With more than one-third market share, North America is the leading consumer of this hormone, followed by Asia pacific with around 25% market share. Key companies such as Lanxess AG, BASF SE, and Eastman Chemical Company account for a huge share of the global market.
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Key Takeaways from Isophorone Market Study:
Leading Players Driving Innovation in the Isophorone Market:
The Key Players in the Infant Isophorone Industry include Dow; Prasol Chemicals Pvt. Ltd.; Evonik Resource Efficiency GmbH; SI Group, Inc.; KH Chemicals; LGC Limited; Qianyan New Material Technology Co., Ltd; Jiangsu Huanxin High-tech Materials Co. Ltd.; Arkema Group; Somu Chemicals and Pharmaceuticals.
Isophorone Industry News & Trends:
The market leaders for isophorone are Jiangsu Huanxin High-tech Materials Co., Ltd., Dow, Prasol Chemicals Pvt. Ltd., Evonik Resource Efficiency GmbH, SI Group, Inc., KH Chemicals, LGC Limited, and Qianyan New Material Technology Co., Ltd. To increase their market share, companies are trying to increase production capacity, acquire other businesses, and keep close relationships with raw material suppliers to ensure stable raw material prices.
The service life of joint prosthesis made of PEEK biomaterials has been extended, according to Evonik. The company is searching for methods to increase the range of uses for the high-performance polymer VESTAKEEP PEE.
“Rising demand from coatings, adhesives, and pharmaceuticals will be a key factor driving the consumption of isophorone over the coming years,” says Fact.MR analyst.
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Market Scenario:
Manufacturers of isophorone are focusing on providing superior quality products and are committed to customer service excellence. Companies are looking to set up new production plants in different regions to meet the growing demand. Maintaining long-term relationships with suppliers and distributors to procure raw materials early is a key strategy among several isophorone producers.
Some of the leading manufacturers of isophorone are Dow, Evonik Resource Efficiency GmbH, SI Group, Inc., KH Chemicals, LGC Limited, Jiangsu Huanxin High-tech Materials Co. Ltd., Arkema Group, and Somu Chemicals and Pharmaceuticals.
More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the isophorone market, presenting historical market data (2019 to 2023) and forecast statistics for the period of 2024 to 2034.
The study reveals essential insights based on product type (liquid condensation, solid heterogeneous catalytic condensation) and end use (construction, automobiles, chemicals & plastics, agrochemicals, paints, coatings, adhesives, inks, others), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA)
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Isophorone is a synthetic chemical compound used as a raw material in various industries, including coatings, pharmaceuticals, and personal care products.
Key players include companies like Lanxess AG, BASF SE, and Eastman Chemical Company, which significantly influence the market dynamics.
Market share indicates the percentage of an industry's sales that a particular company controls, reflecting its competitiveness and market position.
Isophorone is primarily used in coatings, adhesives, personal care products, and pharmaceuticals, highlighting its versatility across industries.
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