Octane isomers such as Iso-Octane are produced through petroleum distillation and dimerization of isobutylene using an amberlyst catalyst. This compound has rich chemical nature and solubility owing to which it finds high applicability in the automotive sector for paints, adhesives, varnishes and gasoline. Automotive production has shown a significant increase over the years owing to rapid technological upgradation in manufacturing techniques. According to the International Organization of Motor Vehicle Manufacturers, in 2021, global automotive production stood at 80.1 million which showed a 3% increase in comparison to 2020. With such an increase in production volume, the demand for iso-octane for paints, adhesives and gasoline applications has also accelerated. The iso-octane market size is observed to grow at a CAGR of 7.8% during the forecast period 2022-2027 and will reach an estimated revenue of US$9.8 billion by 2027.
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Iso-Octane Market: Leading Segment is the Automotive
Based on the end-use industry the Iso-Octane market can be segmented into automotive, aerospace, power generation, pharmaceuticals, chemical, wood and others. The iso-octane market’s leading segment is evaluated to be automotive and during the forecast period 2022-2027, the segment is expected to grow at a CAGR of 8.1%. This can be attributed to factors such as growing investment inflows in the sector, major adoption of modern technologies in manufacturing and the establishment of new plants and factories that have increased automotive production in regions. According to the International Organization of Motor Vehicles Manufacturers, in 2021, automotive production in South America increased by 18% in comparison to 2020’s production volume. Such an increase in production has boosted the demand and usage of iso-octane in the automotive sector for paints, adhesives and gasoline applications.
Iso-Octane Market: Leading Segment is the Asia-Pacific
Based on geography, the Iso-Octane market can be segmented into North America, South America, Europe, APAC and the Rest of the World. According to the IndustryARC analysis, in 2021, the Asia-Pacific region emerged as the most profitable region in the market and held a 41.7% share of the total revenue earned by the market globally. The region is a manufacturing hub for automotive where major countries such as China and India are showing constant investments in the sector which has increased their production level. According to the International Organization of Motor Vehicles Manufacturers, in 2021, China’s automotive production increased by 3% in comparison to 2020’s production level. The increase in production level has accelerated the demand and usage of iso-octane in the Asia-Pacific region.
Iso-Octane Market: Competitive Landscape
Key companies holding a major share in the Iso-Octane market are ExxonMobil, DowDuPont, Chevron Corporation, Shelf Offshore Inc, Lide Chemical, Chambroad Chemical, Valero, PDVSA, Sabic, ConocoPhillips.
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