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Isoprenol Market worth USD 458.9 million and CAGR 5.6% by 2021,Globally
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Isoprenol is a light yellow to a colorless liquid. It is also referred as 3-methyl-3-butene-1-ol. Isoprenol is manufactured industrially as an intermediate to prenol (3-methyl-3-butene-1-ol). It is mainly used as a building block for aromatic chemicals and for pharmaceutical active ingredients. Moreover, it also finds use in the production of dyes, solvents, and paints. Isoprenol is widely used in agrochemicals for producing insecticides and pesticides. Isoprenol has many advantages such as durability, high water reduction, and low dosage. It is also used for protection from corrosion of steel and is environmentally friendly in nature.
The isoprenol market is primarily driven by strong demand from agrochemical and pharmaceutical industry. Rising demand for aromatic chemicals for use in perfumes is also expected to boost the demand for isoprenol, thus driving the global isoprenol market in the forecast period. Isoprenol also finds use in the production of dyes, solvents, and paints. Thus, developing paints and coatings sector is one of the major driving factors for the growth of the isoprenol market. In addition, the growth in the construction industry due to the rapid urbanization in the emerging countries is likely to fuel the demand for isoprenol. This, in turn, is anticipated to be the main driving factor for the increase in worldwide isoprenol market in the coming years. However, stringent environmental regulations may hamper the market growth.
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On the basis of applications, global isoprenol market can be segmented into agrochemicals, pharmaceuticals, aromatic chemicals, polymers and others. Aroma chemicals segment was the leading application segment for isoprenol in 2015 and accounted for the significant share in the same year owing to its widespread use in perfumes. The pharmaceutical application segment is likely to witness considerable growth in the forecast period. Isoprenol is mainly used as an intermediate in the chemical industry for the synthesis of active pharmaceutical ingredients. It acts as a building block for pharmaceutical active ingredients.
Geographically, isoprenol market is segmented into North America, Europe, Asia-Pacific, Latin America and the Middle East & Africa. The isoprenol market was dominated by Asia Pacific with the major market share of total volume consumption in 2015. China led the Asia Pacific isoprenol market. Asia Pacific is followed by North America and Europe. The Middle East & Africa are expected to witness sluggish growth for isoprenol market within the forecast period.
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At present, the isoprenol is a monopolized industry. There are two key manufacturers who dominate the market such as BASF and Kuraray. As the isoprenol market is in the nascent stage, global market players are investing in research and development for high-quality isoprenol to match its growing demand from the end use industries. The key players of isoprenol market include Kuraray Co., Ltd., Nanjing Chemical Material Corporation, Guangzhou Chen Yu Chemical Co., Ltd., Triveni Interchem Pvt. Ltd., BASF SE, Jilin Zhongxin Chemical Group and Amyrics Inc.
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