August 03, 2022 17:00 ET | Source: FACT.MR FACT.MR
United States, Rockville MD, Aug. 03, 2022 (GLOBE NEWSWIRE) -- The isophorone market analysis offered by Fact.MR scrutinizes key growth factors that are impacting sales in the market. The report offers in-depth insights covering key factors such as drivers, opportunities, key players' strategies, and demand outlook for the isophorone market. In addition to this, the study analyzes latest trends across various segments including product type and end use.
Fact.MR – A Market Research and Competitive Intelligence Provider: The global isophorone market is expected to be valued at US$ 1.21 billion in 2022 and is likely to grow at a CAGR of 4.7% during the forecast period of 2022 to 2032. Eco-friendly and solvent capabilities of isophorone are the key factors that are boosting the demand for isophorone in diverse applications such as paints, adhesives, chemicals, and others.
Use of isophorone in construction and automotive industries is likely to fuel demand for isophorone over the next decade. Further, its advantage as a corrosion resistant chemical makes it an ideal choice in the road construction sector.
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In addition, application of isophorone in coatings is expected to rise due to its excellent characteristics for polymers and binders. As it is used as a solvent and an intermediary for organic compounds, isophorone is extensively used as corrosion resistant on roads, sluices, and scaffoldings.
Isophorone is also widely used in the agrochemical industry. According to a recent study, the global agrochemical industry was valued at around US$ 30 billion and the trend is likely to continue over the upcoming decade.
Expansion of agrochemical industry is expected to create lucrative growth opportunities for isophorone market players over the assessment period. On the back of these aforementioned factors, the sales in isophorone market are expected to reach US$ 1.93 billion by the end of 2032.
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Leading players operating in isophorone market are adoption several inorganic and organic growth strategies such as mergers, product development, collaboration, and product launch to gain competitive edge.
Some of the key players are eyeing the emerging markets such as India and China to capitalize on expansion of construction and automotive industry. These players are focusing on establishing manufacturing facilities in these market to strengthen their foothold in the industry.
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More Valuable Insights on Isophorone Market
In the latest study, Fact.MR offers a detailed study on global isophorone market for the forecast period of 2022 to 2032. This study also highlights key drivers promoting the sales of isophorone with analysis across below segments:
Key Questions Covered in the Isophorone Market Report
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