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The isophorone market share is expected to increase by USD 2.18 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.05%.
This isophorone market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers isophorone market segmentation by application (adhesives, composites, printing inks, artificial leather, and others) and geography (North America, Europe, APAC, Middle East and Africa, and South America). The isophorone market report also offers information on several market vendors, including Arkema SA, BASF SE, Covestro AG, Evonik Industries AG, Henan GP Chemicals Co. Ltd., Jiangsu Huanxin High tech Materials Co. Ltd., K. Rasiklal Exim Pvt. Ltd., LGC Ltd., Merck KGaA, Minolta Chem, Ningbo Qianyan New Material Technology Co. Ltd., Parsol chemicals Ltd., Penta Manufacturing Co., Ravago, Sanjay Chemicals India Pvt. Ltd., SI Group Inc., The Dow Chemical Co., Thermo Fisher Scientific Inc., Tokyo Chemical Industry Co. Ltd., and Vardhman Enterprise among others.
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The growing demand from construction and food packaging applications is notably driving the isophorone market growth, although factors such as stringent regulations and policies may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the isophorone industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Isophorone Market Driver
The growing demand from construction and food packaging applications is one of the key drivers supporting the isophorone market growth. Adhesives perform various functions in the building and construction industry. They are commonly used in the fixing of resilient flooring, roofing tiles, and roofing systems, as they impart better stability, durability, and strength characteristics to building components. They are commonly used as a bonding material between the substrate and the existing floor in floor-fixing applications. Moreover, the global construction industry is expected to grow exponentially owing to rising consumer confidence and the need for housing. These factors, along with population growth and increasing income of the middle class in developing countries, are expected to drive the growth of the global isophorone market during the forecast period.
Key Isophorone Market Trend
Emerging application areas for adhesives is one of the key isophorone market trends that is contributing to the market growth. For instance, in the construction industry, adhesives are used for bonding the floor structure to supporting beams, attaching interior wallboards to studs, and providing flawless wall surfaces, in addition to their traditional applications. Adhesives and sealants are gaining popularity among players in the healthcare sector for their use in surgical and dental procedures. Moreover, their increased use will significantly benefit the market during the forecast period. Surgeons use adhesives and sealants for sealing dural tears. Thus, the increasing launch of new and advanced isophorone products for various application areas is expected to foster the growth of the global isophorone market during the forecast period.
Key Isophorone Market Challenge
Stringent regulations and policies is one of the factors hindering the isophorone market growth. For instance, in August 2013, the Massachusetts Department of Environmental Protection imposed strict guidelines on the VOC content of adhesives and sealants. Regulation 310 CMR 7.18(30) provides a VOC limit for chemicals, such as isophorone, used in industrial and commercial applications. California has set VOC limits for a variety of isophorone products, adhesives, and sealants. The state has established 13 Air Pollution Control Districts (APCDs) or Air Quality Management Districts (AQMDs) that have set VOC limits for isophorone products. Isophorone vendors should comply with these standards to meet the VOC-related requirements. Thus, stringent regulations and policies on the use of isophorone products are likely to hinder the growth of the global isophorone market during the forecast period.
This isophorone market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global isophorone market as a part of the global specialty chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the isophorone market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the isophorone market encompasses successful business strategies deployed by the key vendors. The isophorone market is fragmented and the vendors are deploying growth strategies such as broadening their product portfolios by extending their isophorone product offerings to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The isophorone market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the isophorone market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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39% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for isophorone in North America. Market growth in this region will be faster than the growth of the market in Europe and South America.
The increasing number of new product launches will facilitate the isophorone market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 in 2020 in North America, especially the US, hindered the growth of the isophorone market. However, with the initiation of vaccination drives in the region in Q1 and Q2 of 2021, industrial activities resumed, which, in turn, led to an increase in the demand for isophorone. In addition, the rise in investments in the chemical industry in the region is also expected to foster the isophorone market growth in North America during the forecast period.
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The isophorone market share growth in the adhesives segment will be significant during the forecast period. The rapid growth in the number of automobiles worldwide is expected to fuel the demand for adhesives during the forecast period. Adhesives are widely used to bond backing materials in automobiles, as they aid in reducing vibrations in vehicle body panels. Some automotive companies are focusing on expanding their presence. Thus, increasing demand for adhesives in automotive applications is driving the growth of the global isophorone market.
This report provides an accurate prediction of the contribution of all the segments to the growth of the isophorone market size and actionable market insights on the post-COVID-19 impact on each segment.
Isophorone Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.05% |
Market growth 2022-2026 |
$ 2.18 billion |
Market structure |
Fragmented |
YoY growth (%) |
5.75 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 39% |
Key consumer countries |
US, Canada, China, Japan, Germany, and Spain |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Arkema SA, BASF SE, Covestro AG, Evonik Industries AG, Henan GP Chemicals Co. Ltd., Jiangsu Huanxin High tech Materials Co. Ltd., K. Rasiklal Exim Pvt. Ltd., LGC Ltd., Merck KGaA, Minolta Chem, Ningbo Qianyan New Material Technology Co. Ltd., Parsol chemicals Ltd., Penta Manufacturing Co., Ravago, Sanjay Chemicals India Pvt. Ltd., SI Group Inc., The Dow Chemical Co., Thermo Fisher Scientific Inc., Tokyo Chemical Industry Co. Ltd., and Vardhman Enterprise |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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