Growing Demand for Coating Applications in Asia-Pacific
Many countries in the Asia Pacific region are witnessing consistent growth in their economy. The GDP growth of countries, such as China and India is 6.6 and 7.2 respectively in 2017. China, being the largest market in the Asia Pacific region for coatings, especially protective coatings, is expected to increase because of expanding industries in the country, such as automotive, construction, shipbuilding, and petrochemicals. India has been witnessing an increased demand for architectural coatings, majorly because of growing industrial infrastructure. In Vietnam, industrial wood coatings demand has been on a rise because of the increasing exports of Vietnamese made furniture. Countries, like South Korea and Singapore are witnessing a demand for marine coatings as they are emerging to be the hubs for maritime transportation and there have been growing shipbuilding activities in these nations. Isophorone is used as a solvent in coatings and the growing application of coatings is expected to boost the market during the forecast period.
Increasing Applications in Paints & Coatings
Paints & coatings is one of the key consumers of isophorone market. Isophorone is used in the manufacture of various paints & coatings owing to its ability to enhance the fluidity of the coating. The demand for paints & coatings in Asia-Pacific is increasing at healthy rate owing to the increasing demand from construction and automotive industries. Additionally, recovery of construction sector in developed regions primarily Europe is also another boosting factor for the paints & coatings market. Furthermore, increasing demand for automotive coatings in emerging countries is also projected to support the demand for isophorone during the forecast period.
North America to Dominate the Market
North America isophorone market is mainly dominated by end-user industries, like paints & coatings, composites etc. and the demand for isophorone is expected to increase at a steady rate because of growth in the end-user industries. The composite market in the United States has witnessed a y-o-y growth rate of 4.2% in 2016-2017. The United States is the also the second largest producer of paints and coatings globally, after China. The growing construction activities are fueling the demand for paints & coatings in the country, which is expected to augment the demand for isophorone in recent years.
Major Players: BASF, Bayer, Evonik Industries, DowDupont and Huntsman, amongst others.
Key Developments in the Market
July 2017: Evonik Industries AG had announced the merger of isophorone chemistry and epoxy curing agents business with the new cross linkers business line. The newly formed Business Line, will be part of the Resource Efficiency Segment
Reason to Purchase this Report
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Application that is expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in excel)
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1.1 Research Phases
1.2 Scope of the Report
1.3 Study Deliverables
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness- Porters Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
4. Market Dynamics
4.1.1 Growing Demand for the Use of Isophorone in UV-cured Coatings
4.1.2 Stringent Government Policies for Ban of Natural Leather
4.1.3 Growing Demand for Coating Applications in Asia-Pacific
4.2.1 Growing Health Concerns Due to Overuse of Pesticides in which Isophorone is Used
4.2.2 Other Restraints
4.3.1 Synthesis of Renewable High-density Fuel with Isophorone
4.3.2 Conversion of Isophorone Diamine (IPDA) to IPDI Using a Urea Adduct-based Process
5. Market Segmentation and Analysis (Market Size, Growth and Forecast)
5.1 By End-user industry
5.1.1 Paints & Coatings
5.1.3 Artificial Leather
5.1.7 Artificial Leather
6. Regional Market Analysis (Market Size, Growth, and Forecast)
6.1.4 South Korea
6.1.5 ASEAN Countries
6.1.6 Rest of Asia-Pacific
6.2.4 United Kingdom
6.2.5 Nordic Countries
6.2.6 Rest of Europe
6.3 North America
6.3.1 United States
6.3.4 Rest of North America
6.4 South America
6.4.3 Rest of South America
6.5 Middle East & Africa
6.5.1 South Africa
6.5.2 Saudi Arabia
6.5.3 Rest of Middle east & Africa
7. Competitive Landscape
7.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
7.2 Market Share Analysis**
7.3 Strategies Adopted by Leading Players
8. Company Profiles (Overview, Financials**, Products & Services, Recent Developments)
8.4 CHAIN FONG
8.7 Evonik Industries
8.8 Greenchem Industries LLC
8.9 Henan energy chemical industry group co. LTD.
8.11 Jiangsu Huanxin High Tech Materials Co.
8.12 Mitsui Chemicals, Inc.
8.13 Prasol Chemicals PVT. LTD.
8.14 QianYan New Material Technology Co. Ltd
8.15 SI Group
8.17 Wanhua Chemical Group Co. LTD
*List not Exhaustive
** Subject to availability on public Domain
- CHAIN FONG
- Evonik Industries
- Greenchem Industries LLC
- Henan energy chemical industry group co. LTD.
- Jiangsu Huanxin High Tech Materials Co.
- Mitsui Chemicals Inc.
- Prasol Chemicals PVT. LTD.
- QianYan New Material Technology Co. Ltd
- SI Group
- Wanhua Chemical Group Co. LTD.