Zion Market Research has published a new report titled “Isopropanol Market for Agrochemicals, Aroma Chemicals, Pharmaceuticals, Polymers and Other Applications – Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020”. According to the report, global isoprene market was valued at around USD 140.0 million in 2014 and is expected to reach around USD 200.0 million in 2020, growing at a CAGR of around 6.5% between 2015 and 2020. In terms of volume, the global isoprene market stood at above 25 kilo tons in 2014.
3-methyl-3-butene-1-ol is commonly known as isoprene. Isoprenol is a light yellow to colorless liquid. Isoprenol is generally produced as an intermediate to 3-methylbut-2-en-1-ol or prenol. Isobutene and formaldehyde are the key raw materials of isoprene. Isoprenol market is still in nascent stage. Kuraray Co., Ltd., BASF SE and Jilin Zhongxin Chemical Group are leading producers of isoprene. Isoprenol exhibit excellent chemical and physical properties such as low dosage, high water reduction, etc. Isoprenol is most commonly used in the manufacturing of pharmaceutical and agrochemicals active ingredients. Isoprenol is an eco-friendly chemical. Isoprene is also finds significant applications such as corrosion resistance, as a building block chemical for aromatic chemicals as well as in production of dyes, solvents and paints.
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Isoprenol market is mainly driven strong demand from agrochemical and pharmaceutical industry. Isoprenol is growing in popularity among active ingredient manufacturers. Rapidly growing population across the world has been resulted into growing demand for pharmaceuticals and agrochemicals. This in turn expected to fuel the growth of isoprenol market. Strong demand for various aromatic chemicals in myriad applications is also expected to keep driving demand for isoprenol. Dyes, paints and coatings are also expected to have positive impact on demand for isoprenol. However, limited number of manufacturers and lack of research & development is expected to have adverse impact on growth of isoprenol market.
Based on its applications, global isoprenol market can be segmented into agrochemicals, pharmaceuticals, aromatic chemicals, polymers and others. Pharmaceutical is leading application market for isoprenol. Rapidly increasing population and rising health concerns has been resulted into robust growth of pharmaceutical industry. This in turn has been resulted into high demand for isoprenol in pharmaceutical applications. Aromatic chemicals are another important outlet for isoprenol. Growing demand for aromatic chemicals in the manufacturing of perfumes is also anticipated to fuel the demand for isoprenol. Rapidly expanding paints and coatings industry also accounted for significant share of the isoprenol volume consumption.
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North America, Europe, Asia Pacific, Latin America and Middle East & Africa are key regional markets for isoprenol. Isoprenol market was dominated by Asia Pacific with significant shares of total volume consumption in 2014. China led the Asia Pacific isoprenol market. Asia Pacific is followed by North America and Europe. Latin America and Middle East & Africa hold very little market share in global isoprenol market.
Global isoprenol market is highly competitive and dominated by few global market participants. Kuraray Co., Ltd., Nanjing chemical Material Corporation, Guangzhou Chen Yu Chemicals Co., Ltd, Triveni Interchem Pvt. Ltd, BASF SE, Jilin Zhongxin Chemical Group, and NHU are some of the key vendors in the market.
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