Learn details of the Advances in Isobutylene Market Forecast and Segments, 2019-2029

From: Fact.MR
Published: Fri Aug 02 2019


Isobutylene Market: Introduction

Isobutylene, also referred to as isobutene, is a colorless four-carbon mono-olefin organic compound. It is produced mainly by catalytic cracking at refinery and steam cracking at olefin plants. Isobutylene is primarily used as a monomer for the production of rubber in the tire industry, anti-oxidant for plastics, an anti-knock agent in fuel additives and in the production of alkylated phenols, which are further used in the production of methyl-tertiary-butyl acetate (MTBE), ethyl-tertiary-butyl-acetate (ETBE) and tertiary butyl alcohol (TBA). The global production of isobutylene is around 15 million tons, and the market is expected to witness a healthy CAGR in the forecast period.

Isobutylene Market: Market Dynamics

The key growth driving factor for the isobutylene market is its increasing use in the automotive and aerospace industry. The increase in demand for isobutylene as a fuel additive in the automotive industry to boost the octane number, reduce carbon emission and to increase fuel efficiency is a major key factor for the growth of isobutylene market globally. Furthermore, its application in the production of butyl rubber is the key for demand growth of isobutylene. Butyl rubber is extensively used in tire production and has high demand in the North America region. Also, the isobutylene market has witnessed a downfall due to its potential risk of explosion as it is highly flammable and a ban in the usage of MTBE fuel in some regions including Latin America. For instance, in April 2019, KMCO chemical plant in Crosby exploded due to isobutylene, which caused severe injuries to the locality. Moreover, with an increasing focus on the development of new on-purpose isobutylene production technology, expansion in the production capacity, especially in China, and massive demand from the automotive industry will continue to drive the global isobutylene market in the forecast period.

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Isobutylene Market: Segmentation

The global isobutylene market is segmented on the basis of end-use application and region.

Based on end-use application, the global isobutylene market is segmented as:

Fuel Additive
Cosmetics Intermediate
Pharmaceutical intermediate
Lubricants
Butyl Rubber
Coatings
Adhesives & Sealants
Solvent
Others
Gasoline additive end-use application accounts for a share of around 40% - 45% in the global isobutylene market. Cosmetic ingredients will remain as one of the emerging hotspots for Isobutylene during the forecast period.

Based on region, the global Isobutylene market is segmented as:

North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA
Isobutylene Market: Regional Outlook

Asia is estimated to account for more than 30% of global isobutylene consumption with key producers having their isobutylene manufacturing facilities and expansion strategy in the regions. Presence of emerging economies in the region such as China and India and Asia Pacific being one of the largest consumers of rubber and fuel additive, due to which the demand for isobutylene is expected to witness a steep growth. In North America, the demand is strongly driven by the automotive and aerospace industry and is expected to witness steady growth in the coming future. Europe, on the other hand, with an increase in investments in research & development activities, the demand for isobutylene will be steady in the forecast periods as the majority of the product is exported. In Latin America, with the ban in the use of methyl tertiary butyl ether (MTBE) in Mexico, the isobutylene market will decline, as it is a major raw material in the production of MTBE. Other regions, such as the Middle East & Africa and Oceania, will account for merely a single-digit share in the global isobutylene market.

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Isobutylene Market: Prominent market stakeholders

Key market stakeholders in the global Isobutylene market are LyondellBasell Industries Holdings B.V., Evonik Industries, Lanxess, Nizhnekamskneftekhim, BASF SE, SONGWON, Zoucheng Qifa Chemical Co., Ltd., VINATI ORGANICS LIMITED, Lijin Petrochemical Plant Co., Shandong Shouguang Luqing Petrochemical Co. Ltd., Shandong Chambroad Petrochemicals Co. Ltd., Shandong Huachao Chemical Co., Ltd., The SIBUR Tobolsk, YEOCHUN NCC CO., LTD and Heilongjiang Anruijia Petrochemical Co., among others. The isobutylene market consists of well-diversified global and regional players with global vendors ruling the market. Some of the major expansion in isobutylene market include:

In 2019, Nizhnekamskneftekhim launched a new production facility of isobutylene with a capacity of 160 kilo tons per year.
In 2017, Shandong Huachao Chemical Co., Ltd. has expanded its production capacity to 200,000 tons per annum in its Shandong province.
In 2017, Shandong Shouguang Luqing Petrochemical Co. Ltd. has started up new production unit of isobutylene in Shandong province, with production capacity of 170,000 tons/annum.
The research report presents a comprehensive assessment of the Isobutylene market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Isobutylene market report provides analysis and information, according to market segments such as geographies, application and industry.

The Isobutylene Market Report Covers Exhaustive Analysis On:

Market Segments
Market Dynamics
Market Size & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain
The Isobutylene Market Regional Analysis Includes:

North America (U.S., Canada)
Latin America (Mexico, Brazil, Argentina, Chile, Peru)
Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe)
CIS & Russia
Asia-Pacific (China, India, ASEAN, South Korea)
Japan
Middle East & Africa (GCC Countries, South Africa)
The Isobutylene report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The Isobutylene report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The Isobutylene report also maps the qualitative impact of various market factors on market segments and geographies.

The Isobutylene Market Report Highlights:

A Detailed overview of the parent market
Changing market dynamics in the industry
In-depth market segmentation
Historical, current and projected market size in terms of volume and value
Recent industry trends and developments
Competitive landscape
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on market performance
Must-have information for market players to sustain and enhance their market footprint

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