Global Isobutene Market - WishTree Insight

Global Isobutene Market by Product (Methyl Tert-Butyl Ether and Ethyl Tert-Butyl Ether), Application (Aerospace, Automotive, Antioxidants, Pharmaceuticals, and Others), and Regions, The Asia Pacific, Middle East Africa, Europe, North America, and Latin America) - Global Industry Analysis, Share, Growth, Trends, Size, and Forecast 2022 – 2032

The Isobutene market size was valued at USD 26.4 billion in 2022 and is expected to surpass USD 37.1 billion by 2032, expanding at a CAGR of 5.3 % during the forecast period, 2022–2032. The market's growth is attributed to the high demand from end-use industries such as aerospace, automotive, pharmaceuticals, and others.

INTRODUCTION

Isobutene (also known as 2-methylpropene) is a hydrocarbon with the chemical formula C4H8. It is a colorless, flammable gas with a slight gasoline-like odor. It is used as a feedstock in the production of chemicals such as isobutene oxide, which is used to make plasticizers and solvents, and isobutene polymer, which is used to make synthetic rubber. Isobutene can also be used as a fuel additive to increase the octane rating of gasoline. It can be obtained from the catalytic cracking of naphtha or natural gas liquids. It is widely used in rubber tires and tubes as a fuel additive in aerospace applications.

Market Trends, Drivers, Restraints, and Opportunities

• The surge in demand for the product in numerous applications, ranging from fuel additives and polymers to agriculture industries is driving the market.
• Government initiatives for the production of isobutene from renewable resources are expected to boost the market.

Scope of the Report

Market Segment Insights

The Methyl Tert-Butyl Ethyl (MBTE) segment is projected to register a considerable CAGR

Based on product, the Isobutene market is divided into methyl tert-butyl ether and ethyl tert-butyl ether. The methyl tert-butyl ether segment is expected to expand at a rapid pace during the forecast period owing to application in end-use industries such as automotive and aerospace. However, the ethyl tert-butyl ether segment is anticipated to hold a key share of the market in the coming years owing to rising awareness regarding improvement in vehicle performance and stringent regulatory norms.

The automotive segment is expected to expand at a rapid pace

Based on application, the Isobutene market is divided into aerospace, automotive, antioxidants, pharmaceuticals, and others. The automotive segment is expected to expand at a rapid pace during the forecast period owing to properties such as chemical resistance, permeability in gases and liquids, and superior damping.

The Asia Pacific is anticipated to constitute a key market share

In terms of regions, the Isobutene market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of Asia Pacific is expected to constitute a key share of the market during the projected period owing to increasing per capita disposable income and a strong manufacturing sector. However, the market of North America is anticipated to expand at a rapid pace during the forecast period.

Competitive Landscape

Key players competing in the Isobutene market are ABI Chemicals (India); Evonik (Germany); Global Bioenergies (France); Honeywell International (U.S.); LyondellBasell Industries (Netherlands); Syngip BV (Netherlands).

FAQs

How much is the market worth?

The Isobutene market size was valued at USD 26.4 billion in 2022 and is expected to surpass USD 37.1 billion by 2032.

During the forecast period, what is the CAGR of the market?

During the forecast period, the CAGR of the market is expected to be 5.3%.

What are the key drivers of the market?

The market's growth is attributed to the high demand from end-use industries such as aerospace, automotive, pharmaceuticals, and others.

What segments are covered in the Isobutene report?

The segments covered in the report are product (methyl tert-butyl ether and ethyl tert-butyl ether), and application (aerospace, automotive, antioxidants, pharmaceuticals, and others).

Mention which region is expected to hold the highest share of the Isobutene market.

The Asia Pacific region is expected to hold the highest share of the Isobutene market.

Which segment holds the largest market share in Isobutene by 2032?

The automotive segment holds the largest market share in the Isobutene by 2032.

Mention the key players in the market.

ABI Chemicals (India); Evonik (Germany); Global Bioenergies (France); Honeywell International (U.S.); LyondellBasell Industries (Netherlands); Syngip BV (Netherlands)