Isophorone Market Applications, Growth, Size, Opportunities, Top Players, Global Share Analysis, Trends, Key Segments

Posted by Jack Martin on May 6th, 2024

Isophorone is a highly flammable, colorless liquid with a strong, sweet, solvent-like odor. It is a cyclic ketone and is used as an industrial solvent and intermediate in the manufacture of various chemicals, including plastics, resins, and pharmaceuticals. The isophorone market is projected to reach USD 1.88 billion by 2030, at a CAGR of 5.0% from USD 1.27 billion in 2022.

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Isophorone Market Drivers:

1. Increase in demand: The demand for isophorone has been steadily increasing due to its wide range of applications. It is used in the production of coatings, adhesives, and sealants, and is also used as an intermediate in the production of several chemicals.
2. Growing use in the automotive industry: Isophorone is increasingly being used in the automotive industry due to its excellent resistance to heat and abrasion. It is used to manufacture coatings for automobile bodies, as well as in the production of sealants and adhesives.
3. Growing focus on sustainability: The focus on sustainability has been driving the growth of isophorone, as the chemical is non-toxic and biodegradable. This makes it a preferred choice for many industrial applications.
4. Increased usage in coatings: Isophorone is increasingly being used in coatings due to its excellent resistance to chemicals, weathering, and abrasion. It is also used in the production of coatings for automotive, architectural, and industrial applications.
5. Growing use in construction chemicals: Isophorone is increasingly being used in the production of construction chemicals such as waterproofing agents, sealants, adhesives, and paints. It is used to improve the performance of these products and enhance their durability and water resistance. Isophorone is also used in the production of epoxy resins, which are used as binders in concrete and other construction materials. Its use in construction chemicals helps to reduce costs and improve the quality of the finished products.

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Isophorone is a versatile solvent used in a wide range of industrial applications, particularly in the formulation of adhesives. It is used as a plasticizer, a solvent for synthetic resins, and as a dispersant, stabilizer, and wetting agent in coatings. Isophorone is also used in the production of rubber and plastic, as a solvent in printing inks and as a cleaning agent, and as a reactant in dye and pigment production. In the adhesive industry, it is used to dissolve and disperse resins and other additives to form adhesives. It is also used as a plasticizer in adhesive formulations, as it improves the flexibility and adhesion of the adhesive. Additionally, isophorone is used as a solvent for thermoplastic adhesives and sealants, and as a softening agent for natural and synthetic rubbers.

North America was the largest market for isophorone in 2021, in terms of value. It accounted for more than 30% of the total global isophorone market in 2021. The region has witnessed a steady growth in the demand for isophorone, due to its increasing use in various industrial applications such as paints & coatings, adhesives, inks, and plasticizers. The increasing demand for isophorone in the US and Canada has been a major factor driving the growth of the regional market. The growing automotive and aerospace industries in the US and Canada are also expected to boost the regional market.

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Key Market Players

The key players in this Arkema SA (France), Evonik Industries (Germany), Covestro AG (Germany), Ningbo New Material Technology Co. Ltd (China),  BASF SE(Germany), and CHAIN FONG (China) and others.