Market Size of Isophorone Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.00 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Isophorone Market Analysis
The market for isophorone is expected to register a CAGR of more tha 6%, during the forecast period. Rising demand for the use of isophorone in UV-cured coatings is driving the isophorone market. However, toxic effects of isophorone are expected to hinder the growth of the market studied.
- Paints andcoatings segment dominated the market, and is expected to grow during the forecast period, owing to its ability to enhance the fluidity of coatings.
- Synthesis of renewable high-density fuel with isophorone is likely to act as an opportunityin the future.
- North America dominated the market across the world, with the largest consumption.
Isophorone Industry Segmentation
The isophorone market report includes:
| End-user Industry | |
| Paints and Coatings | |
| Printing Inks | |
| Artificial Leather | |
| Adhesives | |
| Agrochemicals | |
| Composites | |
| Other End-user Industries |
| Geography | ||||||||
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Isophorone Market Size Summary
The isophorone market is poised for significant growth, driven primarily by its increasing application in UV-cured coatings. This demand is further bolstered by the material's role as a hardening agent in adhesives, which are extensively used across various sectors such as construction, transportation, and packaging. The paints and coatings segment remains a dominant force in the market, benefiting from isophorone's ability to enhance coating fluidity. Despite the promising growth prospects, the market faces challenges due to the toxic effects associated with isophorone. However, opportunities such as the synthesis of renewable high-density fuel present potential avenues for future expansion.
Regionally, North America leads the global isophorone market, with substantial consumption driven by industries like paints and coatings and composites. The United States, in particular, is witnessing a surge in construction activities, which is expected to further boost the demand for isophorone-based products. The Asia-Pacific region, especially China and India, is also experiencing notable growth, fueled by developing markets and the expanding packaging industry. The market is characterized by a partial fragmentation, with a few key players such as Evonik Industries AG, Arkema Group, and BASF SE dominating the landscape. As the transportation industry continues to grow, the demand for isophorone is anticipated to rise, supporting the market's upward trajectory during the forecast period.
Isophorone Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Rising Demand for the Use of Isophorone in UV-cured Coatings
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1.1.2 Surging Demand for Coating Applications in Asia-Pacific
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1.2 Restraints
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1.2.1 Toxic Effects of Isophorone
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 End-user Industry
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2.1.1 Paints and Coatings
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2.1.2 Printing Inks
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2.1.3 Artificial Leather
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2.1.4 Adhesives
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2.1.5 Agrochemicals
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2.1.6 Composites
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2.1.7 Other End-user Industries
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2.2 Geography
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2.2.1 Asia-Pacific
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2.2.1.1 China
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2.2.1.2 India
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2.2.1.3 Japan
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2.2.1.4 South Korea
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2.2.1.5 Rest of Asia-Pacific
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2.2.2 North America
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2.2.2.1 United States
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2.2.2.2 Canada
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2.2.2.3 Mexico
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2.2.3 Europe
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2.2.3.1 Germany
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2.2.3.2 United Kingdom
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2.2.3.3 Italy
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2.2.3.4 France
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2.2.3.5 Russia
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2.2.3.6 Rest of Europe
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2.2.4 South America
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2.2.4.1 Brazil
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2.2.4.2 Argentina
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2.2.4.3 Rest of South America
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2.2.5 Middle-East and Africa
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2.2.5.1 Saudi Arabia
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2.2.5.2 South Africa
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2.2.5.3 Rest of Middle-East and Africa
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Isophorone Market Size FAQs
What is the current Isophorone Market size?
The Isophorone Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Isophorone Market?
Evonik Industries AG, Arkema Group, CHAIN FONG, Merck KGaA and BASF SE are the major companies operating in the Isophorone Market.
