Isoprenol Market (Application: Agrochemicals, Pharmaceuticals, Flavor & Fragrance, Polymers, and Others) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030
Press Release :
Moving Away from Single-source Country Helps Diversify Supplies during COVID-19 Outbreak
Isoprenol is under scrutiny for engineering potential antiviral drugs in order to treat COVID-19 (coronavirus). The seemingly unstoppable virus has set records high to threaten human health and well-being. Manufacturers in the isoprenol market are capitalizing on the unprecedented demand for antiviral drugs and increasing efforts to keep economies running during the coronavirus outbreak. On the other hand, agrochemical manufacturers worldwide are limiting their exposure to Chinese distributors, owing to disruptions caused in supple chains.
Companies such as BASF, Bayer, and Corteva Agriscience are diversifying their supply chains amidst the ongoing period of the unprecedented volatility. Agrochemical manufacturers are taking steps to source chemical supplies from multiple locations. The ongoing trade war between the U.S. and China is predicted to affect the U.S. farmers since these farmers are heavily dependent on chemical supplies from China. Various industries associated with the isoprenol market are moving away from a single-source country in order to diversify their trade activities.
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Commercialization of Isoprenol Enable Expansion Business in Agrochemicals and Pharmaceuticals
Innovative production methods for isoprenol are helping companies in the isoprenol market gain global recognition. For instance, Japanese chemical manufacturing company Kuraray is being highly publicized for commercializing its one-step method of synthesizing isoprene monomer using thermal cracking. As such, manufacturers are increasing their production capabilities for isoprenol in order to meet the demanding applications in pharmaceutical and cosmetics production.
The isoprenol market is slated to register a favorable CAGR of 7% during the years 2020 to 2030. This is evident since manufacturers are gaining proficiency in the production of specialty solvents meant for industrial and home cleaners. Companies are tapping into business opportunities in the production of intermediates for aroma chemicals and cosmetics. The ever-increasing agriculture industry is fueling the demand for isoprenol, which is an important ingredient in agrochemicals. Manufacturers are also developing intermediates for pharmaceuticals.
Innovations in Aviation Biofuels Help Support Defense Organizations
The isoprenol market is predicted to reach the value mark of ~US$ 310 Mn by the end of 2030. However, there is a need for innovations in biofuel production. As such, biofuel production is emerging as a bankable option for innovations using isoprenol. For instance, Berkeley Lab— an innovator in transformational solutions for energy and environment challenges has been awarded US$ 1 Mn from the DOE’s Technology Commercialization Fund (TCF) to foster innovations in biofuels, bio products, and renewable energy technology.
Companies in the isoprenol market are combining state-of-the-art technologies to cost-effectively produce aviation biofuels. Isoprenol is gaining popularity as a promising biologically-derived aviation biofuel precursor from sustainable lignocellulosic biomass. Thus, isoprenol manufacturers are increasing their production capabilities in aviation biofuels to support defense organizations.
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Hunt for New Active Ingredients in Agrochemicals Fuel Demand for Isoprenol
Manufacturers are offering unique terpenoids that can be used to make synthetic aroma chemicals. Citral is being highly publicized for its fresh lemon fragrance and is being commercialized for the production of aroma chemicals. As such, isoprenol is being converted into a variety of authentically scented flavors pertaining to blueberries, grapes, coffee, and even white bread. Companies in the isoprenol market are expanding their revenue streams via air fresheners, perfumes, and flavoring substances to bolster market growth.
The burgeoning growth of the crop protection sector in developing economies is grabbing the attention of companies in the isoprenol market. Robust R&D activities for new active ingredients in agrochemicals involve isoprenol. Isoprenol manufacturers are shifting their focus from North America, Europe, and Japan to the expansion of business in developing economies such as India and Vietnam. Modern sustainable agriculture applications are acting as key drivers for market growth.
Diversity in Pharmaceutical Drugs and Decision-making Bolster Market Growth
Pharma executives are contributing in a big way to conduct R&D activities and carry out marketing strategies for new drugs. However, in the past few years, the global pharmaceutical industry has been lacking diversity in product offerings. This is emerging as a challenge for companies in the isoprenol market. Hence, pharma companies and isoprenol manufacturers are setting their collaboration wheels in motion to redeploy existing technologies into producing new drugs.
On the other hand, lack of gender and ethnic diversity in the decision-making within pharma companies is another challenge for companies in the isoprenol market. Thus, pharma companies are addressing these issues in order to be more inclusive and increase the availability of efficacious drugs. As such, pharma companies are increasing their focus in potential nasal sprays that help to reduce the symptoms of COVID-19.
High Performance Plastic Polymers Improve End-of-life Plastics Management
Innovative polymers are being used to manufacture high performance plastics. This trend is anticipated to create incremental opportunities for companies in the isoprenol market. Affordable and infinitely versatile plastics are being highly preferred by end-use customers in the packaging, automotive, and construction industries. The ever-evolving health and hygiene sector has triggered the demand for intravenous bags, razors, and syringes made from high performance plastics. The growth of the electrical and electronics industries is benefiting isoprenol manufacturers, since the demand for refrigerators, cables, and televisions is constantly surging worldwide.
Apart from manufacturing high-ticket price products, manufacturers are becoming conscious about the environmental footprint caused by plastic. Hence, companies such as Total SE— a multinational integrated oil and gas company in France, is improving end-of-life plastics management by working closely with plastics industry stakeholders. They are developing plastics that require fewer raw materials.
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The onset of the COVID-19 pandemic has led to new possibilities of radical innovations in antiviral drugs. Innovations in biofuels are creating revenue opportunities for companies in the isoprenol market. However, isoprenol manufacturers are facing challenges in the pharma sector due to lack of diversity in new drug innovations and organizational level decision making. Hence, isoprenol manufacturers should collaborate with pharma companies to open labs equipped with testing facilities and co-operate between firms to include ethnic diversity in decision-making. They should expand their business in intermediates for agrochemicals, perfumes, flavors, and industrial cleaners. Moreover, the expansion of the crop protection industry in India and other developing economies is creating value-grab opportunities for isoprenol manufacturers.
Isoprenol Market: Overview
- Isoprenol, also known as 3-methyl-3-butene-1-ol, is a light yellow to colorless liquid. Isoprenol is a hemiterpene alcohol. It is manufactured industrially as an intermediate to prenol (3-methyl-3-butene-1-ol). Isobutene (petroleum-derived) and formaldehyde act as raw materials in the manufacturing process of isoprenol.
- Isoprenol offers various advantages such as low dosage, durability, and high water reduction capacity. It is primarily used as a building block for aromatic chemicals. Isoprenol also acts as a building block for active pharmaceutical ingredients (APIs). It is also employed in the production of dyes, solvents, and paints. Isoprenol is widely employed in the agrochemicals segment to manufacture pesticides and insecticides. Furthermore, it is used as a raw material in the production of super plasticizers from polycarboxylate series.
- Active Pharmaceutical Ingredients (APIs) are substances or combination of substances that are used in finished pharmaceutical products (FPP). Products with APIs intend to furnish pharmacological activity or otherwise have direct effect in the diagnosis, cure, mitigation, treatment or prevention of disease, or to have direct effect in restoring, correcting, or modifying physiological functions in human beings.
- APIs are essential substances employed in the preparation of various drugs that are used as medicines to treat and cure various diseases and illnesses. Isoprenol acts as a building block for APIs.
- The superiority of an API has significant consequence on the efficiency and safety of a medication. API is the central component of any medicine, and there may be medicines that need more than one API in its composition. The composition of API determines the type of drug being manufactured.
- Isoprenol demonstrates strong physical and chemical properties such as durability, low dosage, and high water reduction. Consequently, isoprenol is extensively used as an active pharmaceutical ingredient in the pharmaceutical sector.
Rise in Demand for Isoprenol in Flavor & Fragrance Application
- In terms of application, flavor & fragrance was the leading segment with more than 30% share of the global isoprenol market in 2019. The segment is projected to continue its dominance between 2020 and 2030. Flavors and fragrances play an important role in food, feed, cosmetics, personal care, perfumery, chemical, and pharmaceutical industries. Isoprenol is extensively employed as an aroma chemical in the flavor & fragrance sector.
- Rise in population is also estimated to play a key role in boosting the demand for essential consumer products, such as cleaning products and cosmetics that use fragrances and flavor chemicals as ingredients. Increase in awareness among consumers about hygiene is anticipated to propel the aroma chemicals market in the near future. Isoprenol is widely used as an aroma chemical in fragrances and flavors. This is expected to augment the global isoprenol market in the near future.
- Increase in agricultural activities is driving the demand for fertilizers, pesticides, and insecticides across the globe. This is estimated to propel the demand for isoprenol, which is used in the production of agrochemicals. In turn, this is projected to drive the isoprenol market during the forecast period.
Europe to Lead Isoprenol Market
- In terms of volume, Europe constituted prominent share of the global isoprenol market in 2019. The isoprenol market in the region is estimated to continue to expand at a rapid pace during the forecast period. Europe held more than 40% share of the global isoprenol market in 2019.
- Demand for isoprenol is high in Europe, particularly in Germany, owing to increase in consumption of isoprenol products in agrochemical, pharmaceutical, and aroma chemical applications in the country
- Isoprenol is increasingly used as an aroma chemical in flavor and fragrance ingredients in Europe. This is expected to drive the market in Europe during the forecast period. Furthermore, isoprenol is employed as an intermediate chemical in the preparation of adhesives that are widely used in automotive, building & construction, and electrical & electronics sectors. Thus, rise in demand for adhesives is likely to propel the demand for isoprenol in Europe in the near future.
- Growth in research & development activities and rise in applications of isoprenol are projected to boost the demand for isoprenol in Europe during the forecast period
Isoprenol Market: Competition Landscape
- Manufacturers are continuously focusing on expanding their production capacities in order to meet the demand for isoprenol in various end-use industries in developed and developing countries
- Prominent players operating in the global isoprenol market are
- BASF SE
- KURARAY CO., LTD.
- Spectrum Chemical Manufacturing Corp.
- Amyris, Inc.
- Tokyo Chemical Industry Co., Ltd.
- Toronto Research Chemicals Inc
- Haihang Industry Co., Ltd
- Sure Chemical Co., Ltd.
Isoprenol Market – Scope of the Report
Transparency Market Research’s recent report on the global isoprenol market provides readers with an assessment of the landscape of the market with the help of a comprehensive outlook. This study on the global isoprenol market analyzes the market for the period from 2020 to 2030, wherein 2019 is the base year, 2017 and 2018 as historical years. The report enables readers to make important decisions regarding their business, with the help of a wealth of information enclosed in the study.
This TMR study on the global isoprenol market also provides data on developments made by important players and stakeholders in the market, along with competition analysis. The report also provides understanding of drivers, restraints, opportunities, and market trends.
Key Questions Answered in Isoprenol Market Report
- How much revenue is the global isoprenol market expected to generate by the end of the forecast period?
- Which region currently accounts for the maximum share of the isoprenol market?
- What are the factors anticipated to drive the global isoprenol market during the forecast period?
- Which region is likely to be highly lucrative for isoprenol during the forecast period?
- What are the essential strategies adopted by key stakeholders of the global isoprenol market to expand their geographical presence?
- What are major advancements in the global isoprenol market?
This report answers these questions about the global isoprenol market, aiding major stakeholders and key players in making correct decisions and strategizing for expansion of their business.
Isoprenol Market: Research Methodology
This TMR report on the global isoprenol market is based on a complete and comprehensive evaluation of the market, supported by secondary and primary sources. The competition scenario of the global isoprenol market is supported by an assessment of different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data and current trends, researchers of the global isoprenol market arrived at predictions and estimations and calculated the market forecast.
This report uses an analytical triangulation method to estimate the global isoprenol market by using bottom-up and top-down approaches.
This detailed assessment of the global isoprenol market, along with an overview of the market, is provided on the basis of a careful examination of growth opportunities. Analysts’ conclusions on how the global isoprenol market is set to expand are based on carefully vetted primary and secondary sources.
Isoprenol Market: Segmentation
This report on the global isoprenol market segments the market based on application and region.This study also discusses the underlying trends and the impact of various factors that are driving the global isoprenol market, along with their influence on the growth of the market.This study also offers Porter’s Five Forces analysis and value chain analysis of the global isoprenol market in order to elaborate on crucial growth strategies of players operating in the regional market.