Global Isobutylene Market Analysis
The global isobutylene market is poised to embark on a positive growth trajectory, registering a CAGR of ~5% during the forecast period (2020-2030). Isobutylene is the largest C4 chemical produced during C4 cracking, accounting for over 50% of the global C4 chemical production in 2019. The scenario is projected to continue, owing to increasing consumption of isobutylene in the production of MTBE and ETBE.
Isobutylene is a highly versatile gas and is used as fuel additive, intermediate in butyl rubber, and in cosmetics, chemicals, and others. With the efficacy to act as an antioxidant, additive, intermediate and feedstock, isobutylene remains a material of choice among manufacturers in numerous industries. Increasing demand for isobutylene in production of antioxidants, fragrances, and gas odorization products is set to boost the market growth during the forecast period.
Isobutylene Market: Application Insights
Isobutylenes are primarily used in the production of methyl tertiary-butyl ether (MTBE) and ethyl tertiary-butyl ether (ETBE) for the fuel industry. These two applications accounted for over three-fourths of the global isobutylene consumption in 2019. MTBE and ETBE are mostly used as octane improvers, while remainder is used in the production of high purity isobutylene. Rapid expansion of the fuel industry is thus expected to work to the advantage of isobutylene manufacturers.
Considering the nature of the product, gas permeability and excellent resistance to weather, water, chemical, and heat remain key influencing factors for use in production of butyl rubber. Manufacturers are targeted towards identifying and leveraging white spaces in the application of isobutylene, ranging from cosmetics and pharmaceuticals to chemical and lubricants.
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Isobutylene Market: Regional Insights
China is one of the leading crude oil producers in the world and accounted for ~5% of the global production. As isobutylene is the co-stream product of crude oil, China remained the leading producer of isobutylene production during the historical period. Currently, China is emerging as the world’s largest consumer of MTBE, accounting for over half of Asia’s consumption in 2019. The scenario is projected to continue during the forecast period, and in turn, create significant demand for isobutylene.
However, as the Chinese government mandates the use of ethanol-10 blends over MTBE, the demand for isobutylene is expected to suffer a decline in the future. Despite decreasing consumption of isobutylene for MTBE production, emerging applications such as methyl methacrylate and demand for high purity isobutylene for butyl rubber applications will continue to drive East Asia’s isobutylene market in general and China’s market in particular during the assessment period.
Isobutylene Market: Competitive Analysis
The global isobutylene market is highly fragmented in nature where the top six players merely accounted for 10% of the global production in 2019. Enterprise Products Partners L.P., LyondellBasell Industries Holdings B.V., Nizhnekamskneftekhim, Shandong Huachao Chemical Co., Ltd., TPC Group and Heilongjiang Anruijia Petrochemical Co. are the key stakeholders in the global isobutylene market.
In order to leverage high-profit margins throughout the supply chain, prominent isobutylene manufacturers have adopted a vertical business model. Companies such as Enterprise Products Partners L.P., ExxonMobil, and LyondellBasell Industries Holdings B.V. operate under this business model.
This business model allows companies to reduce their dependency over other raw material suppliers and increase profit margins. For instance, Enterprise Products Partners LP has been involved in backward and forward integration strategies to become a vertically integrated company. Similarly, with inline investments and organic strategies, ExxonMobil has vertically integrated itself and has further plans to emerge as a leading energy provider across the globe.
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COVID-19 Impact Analysis
The coronavirus outbreak has brought the world on its keens and forced people to stay at home amid the nationwide lockdown. This has affected production and demand for various products, including isobutylene, across the globe. Fear of the coronavirus has forced countries to stop import-export activities between borders.
A sudden shutdown of transportation activities and industries has crippled the global economy in the last few months. As per the WHO and the UN stats, losses caused due to the coronavirus outbreak may take years to recover. The coronavirus pandemic has affected every industry, and the isobutylene market is no different.
As per the new normal, a chunk of the world’s population is working from their homes which have declined fuel consumption drastically in the last few months. The scenario is projected to continue if no significant cure is found for the novel coronavirus.
Declined fuel consumption has subsequently limited the market scope for isobutylene. However, reopening of factories in China and resumption of commercial routine activities in East Asian countries such as Japan and South Korea are expected to play a key role in recovery of the isobutylene market.
The Analyst’s Viewpoint
“Amidst of the COVID-19 pandemic, the global isobutylene market is poised to suffer a loss of ~ US$ 1.4Bn by 2020-end. Fragility in access to isobutylene along with limited uptake by the end-use industry during the pandemic has taken a significant toll on the market revenue”.
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About the Report
Fact.MR published an exclusive forecast report on the isobutylene market for the period of 2020-2030. The foremost objective of the isobutylene market report is to pitch spearhead insights on the market scenario, demand generators, and technological advancements in the isobutylene market. The isobutylene market study also addresses key dynamics, which are expected to diversify the sales and future prominence of the isobutylene market.
The isobutylene market report begins with an executive overview in which product definition has been provided. The report further proceeds with taxonomy of the isobutylene market elaborating on key segments. Also, the report outlines visionary insights on dynamics of the isobutylene market including drivers, restraints, opportunities and trends and pricing analysis along with the key buying factors for isobutylene. Supply chain analysis and pricing analysis of the isobutylene market along with the use of isobutylene as per different applications have also been included in the report to help the readers clearly understand the product framework map.
Isobutylene Market: Segmentation
Fact.MR has segmented the isobutylene market on the basis of grade, function, end-use industry, and region.
- < 99%
- > 99%
- Chemical & Cosmetics
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
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Isobutylene Market: Scope Of The Report
The isobutylene market study by Fact.MR gives exclusive information about the market growth scenario during the forecast period of 2020–2030. The study identifies crucial trends that are determining growth of the isobutylene market. This newly published report sheds light on vital dynamics, such as drivers, restraints, and opportunities, for key market players as well as emerging players associated with production and supply of isobutylene. The report primarily conveys a summary of the market, considering the present and upcoming developments in the global fuel, rubber, chemical, and cosmetics industries to reveal striking sides relating to the adoption of isobutylene across the prominent regional markets.
A detailed assessment of the market supply chain, business execution, and value chain across the regional markets has been provided in the report. A list of prominent companies operating in the isobutylene market enhances the reliability of this comprehensive research study.
Isobutylene Market: Report Summary
The study offers an all-inclusive analysis on diverse features including demand, revenue generation, and sales in the isobutylene market across the globe. A comprehensive study on the market has been done through optimistic and conservative scenarios. The analysis and estimation of price point comparison by region with the global average price has also been included in this study.
Isobutylene Market: Size Evaluation
Predictions of the isobutylene market, encompassing current as well as forthcoming values estimates, analysis on region-wise demand trends, and price index, have been assimilated in the report.
The market estimation at the regional and global scale is available in terms of value (US$ Mn) and in terms volume (Tons). A Y-o-Y growth contrast of the prominent isobutylene market segments along with market attractiveness valuation computes has been incorporated in the report. Metrics mentioned above are also based on types of isobutylene with steady demand.
Isobutylene Market: Scrutinized Assessment on Regional Markets
The weighted sections elaborated in the isobutylene market report deliver projection on the regional markets. These chapters highlight regional macros (political economic and business environment outlook), which are expected to have a momentous influence on the isobutylene market growth during the forecast period.
Country-specific valuation on the demand for isobutylene has been offered for each regional market, along with market scope estimates and forecast, price index, price point assessment, and impact analysis of dynamics in regions and countries. For all the regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Isobutylene Market: In-depth Analysis on Competitive Landscape
The report offers the competitive scenario of the isobutylene market along with profiles of prominent companies contributing to market expansion. Essential and up-to-date data as well as information correlated to market performers, who are principally engaged in the production and supply of isobutylene, have been presented with the help of a detailed dashboard view. The market share analysis and comparison of prominent players provided in the report permits readers to take preemptive steps in advancing their businesses.
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