Isoamylene Market: Introduction
Isoamylene, also known as 2-methyl-2-butene, a colourless and flammable liquid that falls under the class of unsaturated hydrocarbons. It is used for the manufacturing of multiple intermediate chemical and chemical products and is used for a wide range of applications including fragrances, hot melt adhesives, flavours, pharmaceutical, pesticides, and UV stabilizers and many more. It has a very low density of 0.662 g/cm3 and is insoluble in water. Commercially, isoamylene is prepared by treating isoprene and C5 fractionate which is found via naphtha cracking of crude oil. The chemical is also highly reactive, can react strongly with oxidant agents and, in the presence of catalysts and stimulant, undergo an exothermal polymerization reaction. Isoamylene is a key constituent of peroxyacetyl nitrate synthesis and is used for carbonyl compound identification and separation. The fragrance industry in specific has a large range of uses of isoamylene since it is used prominently in the synthesis of fragrance chemicals. Besides, it also finds vast application in formulations in peroxides and polymer antioxidants. Pure isoamylene (99%) is used in the production of agricultural products and resins. Due to the growing demand from end-use industries, the market for isoamylene is expected to grow at a fast pace over the forecast period. The isoamylene market is likely to boost with a higher single-digit CAGR over the forecast period of 2019-2029.
Isoamylene Market: Overview and Dynamics
Global isoamylene market is growing rapidly due to the huge demand for polymer antioxidants and flavour & fragrance across the globe. Flavour & fragrance holds one-third of global isoamylene consumption and is widely used in the production of fragrance chemicals. Also, manufacturers are focusing on the expansion of isoamylene production to maintain a horizontal supply-demand gap. Moreover, niche applications such as pharmaceutical and UV stabilizers are anticipated to be the key factor for the growth of isoamylene consumption over the coming years. The main cause of the growing demand for isoamylene in recent years is the enormous increase in demand from industries such as agricultural, automotive, medical, healthcare industries respectively. Besides, government funding for the development of a special class of isoamylene products in a cost-effective way is fuelling market development. However, isoamylene being highly volatile and flammable, the manufacturers face difficulties in storage and handling, which adds up to the overall cost of the product. This fact along with a tight supply of isoamylene tend to hamper the market growth over the long term forecast.
COVID-19 Impact Insights
COVID-19 pandemic has compelled the majority of the countries to impose strict lockdowns and impose social distancing measures, to flatten the COVID-19 daily cases rise graph. This has led to lower demand due to disruptions in every market and Isoamylene market has also been greatly impacted. COVID-19 pandemic has presented massive disruptions in the majority of the industries with people moving towards work from home culture and thereby reduction in fragrances and healthcare product usage, leading towards economic losses at a global level. The plant shutdowns in North America, Europe, India, South Korea in the second quarter of 2020 has reduced the production scale of chemicals and other pharmaceutical products other than the researches going on for the development of COVID-19 Vaccines, which has resulted in a drop in the production of Isoamylene. However, lockdown is being uplifted in a phased manner in a few countries is showing a ray of hope for the Isoamylene market to bounce back strongly and reach it desired potential by the fourth quarter of 2020.
Isoamylene Market: Segmentation
Based on the application, the global isoamylene Market is segmented as:
- Flavour & Fragrance
- UV stabilizer
- Hot melt adhesives
Based on the region, the isoamylene market is segmented as:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Europe (UK, Germany, Spain, France, BENELUX, Italy, Rest of Europe)
- East Asia (China, Japan, South Korea)
- South Asia & Oceania (India, ASEAN, Australia and New Zealand, Rest of South Asia & Oceania)
- The Middle East and Africa (GCC Countries, South Africa, Northern Africa, Turkey, Rest of MEA)
Isoamylene Market: Regional Outlook
Global isoamylene market is divided into six regions including North America, Latin America, Europe, South Asia & Oceania, East Asia, and MEA. Among the regions mentioned above, East Asia accounts for around one-third of the global isoamylene market owing to the presence of key manufacturers and escalating industrialization in the region. Besides, steadily rising agriculture and pharmaceutical industries also tend to provide an upswing to the regional isoamylene market. On the other hand, Europe has witnessed significant growth over the forecast period due to the vast flavour & fragrance industry and enormous growth in downstream industries in the region. Latin America is expected to have a swift growth in global isoamylene market due to increase in demand for speciality chemicals, growing automotive industry in Mexico and the establishment of manufacturing units in the region. Moreover, North America is expected to witness moderate growth over the forecast period and showcase a similar trend as of Europe. South Asia & Oceania region is anticipated to grow at a fast pace as the manufacturers are shifting towards low-cost manufacturing countries. India and Indonesia would be the two lucrative countries within the isoamylene market. Middle East & Africa is expected to have a single-digit growth in the global isoamylene market.
Isoamylene Market: Market stakeholders
Collaboration between the prominent market players and the research centres and universities to develop advance products based on isoamylene has also led to the market’s growth. Moreover, some of the global players are expanding their presence in different geographical locations by improving their production capacities to fuel the entire isoamylene market.
Key market stakeholders in the global Isoamylene market are Jinhai Chengguang, Zibo Liantan Chemical, Biesterfeld AG, Sunny Industrial System GmbH, Shanghai Petrochemical Company, INEOS Oligomers, Shandong Yuhuang Chemical, Chevron Phillips Chemical. The isoamylene market consists of well-diversified global and regional players with the global vendors ruling the market.
The research report presents a comprehensive assessment of the isoamylene 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 isoamylene market report provides analysis and information, according to market segments such as geographies and application.
Isoamylene Market Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Isoamylene Market Regional Analysis Includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Rest of LATAM)
- Europe (UK, Germany, Spain, France, Russia, BENELUX, Rest of Europe)
- East Asia (China, Japan, South Korea)
- South Asia & Oceania (India, ASEAN, ANZ, Rest of Oceania)
- MEA (GCC Countries, South Africa, Northern Africa, Turkey, Rest of MEA)
Isoamylene 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. Isoamylene report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. Isoamylene report also maps the qualitative impact of various market factors on market segments and geographies.
Isoamylene 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.
Fact.MR offers custom research services that help clients to get specific research solutions
We are committed towards customer satisfaction and quality service.