Extensive usage of isobutene material in diverse industry verticals,predominantly in automotive, antioxidants, sealants, polymers, agriculture, fuel additives, pharmaceutical, and tires and tubes manufacturing,is enhancing the isobutene market demand globally.A newly compiled business intelligence report of IndustryARC estimates that the global isobutene market valued at $32.9 billion as of 2018 and is projected to grow with a CAGR of 4.60% throughout the forecast period 2019-2025.
The report is titled: “Isobutene Market: By Type (Methyl Tert-Butyl Ether (MTBE), and Ethyl Tert-Butyl Ether (ETBE)), By Application (Automotive, Aerospace, Antioxidants, Pharmaceuticals, and Others) & By Region – Forecast(2019 - 2025).” This report gives information related to market size, market share analysis, market drivers, trends, product applications, strategic analysis, technological developments, geographical analysis, and merger & acquisitions, and joint ventures of the global isobutene market.
Isobutene Market: Leading Segments
Geographically, North America dominated the global isobutene market, with 42% of market shares as of 2018. Major investments in end-use industries such as aerospace and automotive sectors is a strategic element boosting this regional market growth. High demand for isobutene as a fuel additive in aerospace applications has triggered the growth of the isobutene market in the global scenario.Additionally,the rubber tires and tubes industry is forecasted to significantly enhance the global isobutene market growth.The Asia Pacific has emerged as the fastest growing regional market with demand driven by factors such as rising automotive sales, developing pharmaceutical sector, and strong economic growth.
With the ever-growing need for tires in the automotive industry, the demand for rubber is increasing, which in turn, augmented the usage of rubber that is set to grow with a CAGR of 5.20% over the forecast period 2019-2025.The growth of end-use markets in which rubber is used to produce tires and tubes is driving the market for isobutene.
Isobutene Market: Disruptive Trends and Growth Drivers
- Bio-based isobutene has gained acceptance and it gradually replaces petroleum-based isobutene. Compared to the use of fossil feed stocks, nowadays, the need for renewable resources is constantly rising, providing interesting alternatives for sustainable production of chemicals and fuels. One such major breakthrough in the isobutene market is fermentative production of isobutene.
- Chemicals produced by the isobutene are majorly utilized in plastic packaging, wires and cables,hot melt adhesives, and niche areas such as compression packaging and electrical insulation.
- Chemical resistance, superior damping, and minimal permeability in gases and liquids properties are the key factors driving the isobutene market demand across varied end-user industries such as aerospace and automotive.
Isobutene Market Companies
The key players’ global presence and penetration across various end-user applications are the essential metrics augmenting their position in the global isobutene market. Some of the prominent players which are operating with larger market share in the global isobutane market are listed as follows: Products Partners, Lyondell Basell, Sumitomo Chemical, TPC Group, Exxon Mobil, Nizhnekamskneftekhim, Qifa Chemical, Enterprise Evonik, Yuhua Group, Songwon, Yuhuang Chemical, Qixiang, Sinopec Beijing Yanshan,and Weifang Binhai.
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1. Butyl Rubber Market
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