Global isoprenol market is expected to reach USD 458.9 million in 2021, growing at a CAGR of 5.6% between 2016 and 2021.
Sarasota, FL -- (SBWIRE) -- 09/29/2017 -- Zion Market Research has published a new report titled "Isoprenol Market for Agrochemicals, Aroma Chemicals, Pharmaceuticals, Polymers and Other Applications - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2015 – 2021". According to the report, the global isoprenol market was valued at USD 331.9 million in 2015 and is expected to reach USD 458.9 million in 2021, growing at a CAGR of 5.6% between 2016 and 2021.
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Isoprenol demonstrates tremendous physical and chemical properties such as low dosage, high water reduction, etc. Isoprenol is extensively used in the production of agrochemicals and pharmaceutical active ingredients. Isoprenol is an eco-friendly chemical. Isoprenol has significant application in corrosion resistance as well as act as a building block for aromatic chemicals. It is also used in the production of dyes, solvents, and paints.
The global isoprenol market is primarily driven by rising demand for aroma chemicals across the globe. Furthermore, growing demand for the pharmaceutical industry is also likely to boost the isoprenol market size in the near future. Increasing demand for agrochemicals especially in Asia Pacific is projected to accelerate the demand for isoprenol during the next few years. However, stringent environmental regulations may impede the growth of the isoprenol market. Nonetheless, increasing investments in R&D activities may offer new opportunities for major players of the isoprenol market in the forecast period.
The isoprenol market has been segmented by application and region. On basis of applications, the market has been classified into agrochemicals, aroma chemicals, pharmaceuticals, polymers and others. Aroma chemical was the leading application segment for the isoprenol market in 2015. It accounted for around 33% share of the overall market and furthermore it is expected to maintain its dominance over the market during coming years. This growth is attributed to growing flavoring and fragrance market across the globe. Furthermore, the pharmaceutical is another important application segment of the isoprenol market that is expected to exhibits significant growth in near future. Agrochemicals and polymers are expected to grow at moderate CAGR owing to increasing usage in various industries such as agriculture, horticulture, floriculture, etc. moreover, other applications including fuels, corrosion resistance, water treatment and dyes, paints and solvents are expected to witness moderate growth in near future.
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Asia Pacific dominated the global isoprenol market in 2015. It accounted for more than 35% share of the total volume consumption in 2015. Furthermore, it is one of the fastest growing markets for isoprenol in near future. This growth is attributed to surging demand for agrochemicals especially pesticides in the region. Asia Pacific is an agricultural based region. Agriculture and farming are the main occupations in Asia Pacific especially in India, China, Thailand, and Indonesia. Thus, demand for agrochemical is high in the region. Emerging pharmaceutical and increasing demand for aroma chemical are likely to boost the demand for isoprenol in the region over the years to come.
North America was one of the largest markets for isoprenol in 2015. North America and Europe are expected to witness the exponential growth during the years to come owing to growing investments in the agro-chemical industry. Furthermore, Latin America is expected to register moderate growth over the next few years due to the growing agricultural production, especially in Brazil and Argentina. This, in turn, is likely to propel the growth of the isoprenol market in near future.
Key players profiled in the report include Kuraray Co., Ltd., Nanjing Chemical Material Corporation, Guangzhou Chen Yu Chemical Co., Ltd., Triveni Interchem Pvt. Ltd., BASF SE, Jilin Zhongxin Chemical Group, Amyrics Inc and NHU.
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The global isoprenol market has been segmented as follows:
Isoprenol Market: Application Analysis
Isoprenol Market: Region Analysis
The Middle East and Africa