Isophorone, a cyclic ketone with the chemical formula C₁₁H₁₈O, is widely used
as a solvent in various industrial applications, including paints, coatings,
adhesives, and chemical intermediates. Its unique properties, such as high
boiling point, low volatility, and excellent solvency, make it a valuable
chemical in numerous sectors.
The isophorone
market was valued at approximately USD 1.75 billion in 2022. It is
projected to grow from USD 1.8 billion in 2023 to USD 2.4 billion by 2032. The
market is expected to experience a compound annual growth rate (CAGR) of about
3.22% during the forecast period from 2024 to 2032.
Challenges
Regulatory Constraints: Strict regulations regarding
volatile organic compounds (VOCs) can hinder the use of isophorone in certain
applications.
Availability of Alternatives: The presence of
alternative solvents that offer similar performance could limit market growth.
Geographical Analysis
North America: The North American market is
witnessing significant growth due to the high demand for isophorone in the
automotive and construction industries.
Europe: The European market is characterized by
stringent environmental regulations, leading to increased adoption of
sustainable isophorone formulations.
Asia-Pacific: Rapid industrialization and
urbanization in countries like China and India are propelling market growth in
this region.
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Isophorone Market
Companies Are:
Changshu
Yangzi Petrochemical, Anqing Hexing Chemical, BASF ShinEtsu Chemical, Dow Inc.,
Rizhao Juhua Group, Mitsubishi Chemical Corporation, Tongsu Petrochemical
Group, Jiangsu Haian Chemical Group, Evonik Industries, LyondellBasell
Industries Holdings B.V., Formosa Chemicals Fibre Corporation, Huntsman
Corporation, Shandong Hanbang Petrochemical, INEOS Group
Segmentation
of Isophorone Market:
Isophorone Market Application Outlook
·
PVC plasticizers
·
Polyester resins
·
Coatings and adhesives
·
Lubricants
Isophorone Market End-Use Industry Outlook
·
Automotive
·
Construction
·
Electronics
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