Isoprenol Industry Is Expected To Grow at a CAGR of 6.5% by 2032

The global isoprenol market accounted for a valuation of US$ 190 Million in the end of 2021. The worldwide market is gaining traction and is expected to grow at a CAGR of 6.5%, earning US$ 375 Million in market revenue between 2022 and 2032.

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As of 2022, the market is poised to reach US$ 200 Million, following a Y-o-Y growth trajectory of 5.2%. Manufacturing advancements, together with increased use in perfumes, agrochemicals, medicines, and flavors are likely to boost isoprenol providers' income in the future years.

High Demand for Agrochemicals to Fuel the Isoprenol Industry's Growth

The isoprenol industry is expected to experience significant growth in the coming years, driven by the increasing demand for agrochemicals. Isoprenol is a key ingredient in many agrochemicals, and its use is expected to increase as farmers look for more efficient and cost-effective ways to protect their crops from pests and diseases.

The growing demand for agrochemicals is also expected to drive the growth of the isoprenol industry, as more companies look to capitalize on this growing market. Additionally, the increasing demand for bio-based products is expected to further fuel the growth of the isoprenol industry, as more companies look to develop sustainable and eco-friendly solutions.

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Competitive Landscape

The global market for isoprenol is very fragmented. In 2019, Jilin Zhongxin Chemical Group Co., Ltd. and Andeshengtec owned more than half of the worldwide isoprenol market. Prominent isoprenol and related product producers are pursuing a variety of growth strategies. These often entail the introduction of new product lines, the formation of alliances, and the modification of existing product prices.

The following are some noteworthy developments:

• Kuraray Co. Ltd. stated in June 2021 that it would raise the pricing of its isoprene chemical derivative products, which would take effect on July 1. The rise is in the range of 10-30%, and it applies to all items for both domestic and international shipping. This action was taken in order to restore the company's profitability.

• Haihang Industry Co. Ltd., a leading isoprenol producer, received ISO9001: 2005 quality management accreditation in April 2019. This demonstrates that its corporate administration has become more standardized.

Key Companies Profiled:

• BASF SE
• Kuraray Co. Ltd.
• Amyris, Inc.
• Spectrum Chemical Manufacturing Corp.
• Tokyo Chemical Industry Co. Ltd.
• Toronto Research Chemicals Inc.
• Haihang Industry Co. Ltd.
• Sure Chemical Co. Ltd.

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Key Segments:

• Isoprenol by Application :

o Agrochemicals
o Pharmaceuticals
o Flavors & Fragrances
o Polymers
o Others

• Isoprenol by Region :

o North America
o Latin America
o Europe
o East Asia
o South Asia
o Middle East & Africa

Questionnaire answered in the report include:

• How the industry has grown?
• What is the present and future outlook on the basis of region?
• What are the challenges and opportunities?
• Why the consumption in region?
• In which year segment is expected to overtake segment?

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This release was published on openPR.