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Owing to its special molecular structure, isophorone is used as a raw material in the production of several chemicals. It acts as an intermediate in manufacturing compounds such as isophorone diamine and isophorone diisocyanate. These are mainly polyurethane field compounds and isophorone plays a prominent role in their production. Isophorone derivatives are used in several areas: for metal cans, metal paints and nitrocellulose finishes. It is also used in vinyl chloride or acetate-based coating systems. Manufacturers of printing inks used for plastics also demand a smooth supply of isophorone. It helps improve the brightness and fluidity of paints, adhesives and printing inks.
There is a growing concern worldwide about animal protection, owing to which natural leather has been effectively banned in several nations. Stringent government policies, coupled with recent scientific advancements, are likely to drive the demand for isophorone due to its applications in artificial leather. The growing requirement of paints and coatings from around the world is expected to maintain the high demand for isophorone in the near future.
Isophorone is used as a base solvent in pesticides. However, the overuse of pesticides, mainly in agricultural countries, has resulted in growing health concerns among concerned authorities. Due to this, there is low demand for isophorone-free pesticides, which, if not moderated, is likely to hamper the growth of the pesticides segment.
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The isophorone market can be segmented on the basis of product type, solvent applications and end use.
On the basis of product type, the isophorone market is segmented into:
- Liquid condensation
- Solid heterogeneous catalytic condensation
On the basis of solvent applications, the isophorone market is segmented into:
- Printing ink solvents
On the basis of end use, the isophorone market is segmented into:
- Construction Industry
- Automobile Industry
- Chemical and Plastics Industry
North America is considered to be the largest market for isophorone in terms of volume. It is followed closely by Asia Pacific, which is expected to be the fastest-growing market during the forecast period, with China being the largest contributor to the share of the region. Several nations in Asia Pacific are experiencing steady growth in their economies. Increasing demand from the Asia Pacific region is driving the need for setting up new production plants for isophorone and isophorone diamine plants in China and other nations. Owing to the aforementioned factors, China is one of the largest markets for protective coatings. It is expected to register steady growth in fields such as automotive, shipbuilding, construction and petrochemicals. Architectural coatings, which chiefly depend upon the development of industrial infrastructure, are witnessing growth in India. This is expected to boost the isophorone market in the Asia Pacific region. Countries such as Vietnam, South Korea and Singapore are demanding isophorone for their marine and wood coatings market. Increased usage of isophorone in coatings is expected to boost the market.
The U.S. is following China in the production of paints and coatings. Demands for paints and coatings is observed from developed regions such as Europe and North America due to the recovery of the construction industry in these regions. This is likely to boost the isophorone market in developed regions as well.
List of Market Participants:
- The Dow Chemical Company
- Prasol Chemicals Pvt. Ltd.
- Evonik Resource Efficiency GmbH
- SI Group, Inc.
- TCI Chemicals (India) Pvt. Ltd.
- KH Chemicals
- Thermo Fisher Scientific Inc.
- LGC Limited
- QIANYAN NEW MATERIAL TECHNOLOGY CO.,LTD
- Jiangsu Huanxin High-tech Materials Co. Ltd.
- Chain Fong Co., Ltd.
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