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The isobutene market share is expected to increase by USD 5.87 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 3.52%.
This isobutene market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers isobutene market segmentations by product (methyl tert-butyl ether (MTBE) and ethyl tert-butyl ether (ETBE)), application (automotive, aerospace, pharmaceuticals, antioxidants, and others), and geography (North America, APAC, Europe, South America, MEA, North America, APAC, Europe, South America, and MEA). The isobutene market report also offers information on several market vendors, including BASF SE, Chevron Phillips Chemical Co. LLC, Dayaram Chemicals Pvt. Ltd., Evonik Industries AG, LANXESS AG, Linde Plc, LyondellBasell Industries NV, Sumitomo Chemical Co. Ltd., Tokyo Chemical Industry Co. Ltd. , and TPC Group among others.
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The growing demand for rubber from automotive industry is notably driving the isobutene market growth, although factors such as hazardous effects of isobutene derivatives may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the isobutene industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Isobutene Market Driver
The growing demand for rubber from automotive industry is a major factor driving the global isobutene market share growth. The production of various synthetic chemical products is done using high-purity isobutene or isobutylene. In the automotive industry, the demand for butyl rubber in tire manufacturing is growing at a steady rate due to its excellent chemical and mechanical properties, such as high vibration damping capabilities and low permeability to air and moisture. With a booming automotive industry, tire production has increased exponentially in developing countries like India and China. With the ever-growing need for tires in automotive vehicles by original equipment manufacturers (OEM) and the aftermarket, the demand for rubber will increase, which will, in turn, drive the isobutene market during the forecast period. APAC was the major consumer of rubber in 2020 due to the region's booming automotive market. Countries such as Thailand, Indonesia, and Malaysia are the major markets for rubber due to their high production and consumption capacities. The growing automotive market will foster the demand for rubber in tire manufacturing.
Key Isobutene Market Trend
The innovations and advances in the production of isobutene is another factor supporting the global isobutene market share growth. A new bio-based, green method has been developed to produce the widely used fuel-additive and industrial chemical isobutene. The continuous demand for isobutene has led to the development of this novel production method, which involves the conversion of biomass to isobutene. However, the conventional method of producing isobutene is by the petrochemical cracking of crude oil. The fluctuations in crude oil prices have forced the end-users to shift from the conventional method to the bio-based fermentation process. Global Bioenergies, a French company, has developed the bio-based production process for the production of isobutene. The company has developed a unique metabolic pathway that carries out the genetic transformation of microbes using advanced engineering for the conversion of glucose to isobutene. The company has even developed isobutene from wheat straw. The process involves the digestion of biomass to glucose. Then, through fermentation and separation, it gets converted into isobutanol. In the final step, isobutanol is converted to isobutene through dehydration and separation. Such innovations will drive the growth of the market.
Key Isobutene Market Challenge
The hazardous effects of isobutene derivatives will be a major challenge for the global isobutene market share growth during the forecast period. Although isobutene derivatives are used in automotive, aerospace, pharmaceuticals, and other sectors, they have been known to have mildly hazardous effects on the environment. With the rising concerns for harmful emissions from automobiles, the use of octane boosters or octane enhancers is continuously increasing. MTBE, a derivative product of isobutylene or isobutene, when used as an octane enhancer, often goes into the groundwater, resulting in the contamination of drinking water. It also affects the taste and smell of the water. MTBE gets into the groundwater when it leaks from a storage tank or when gasoline is spilled on the ground. Since MTBE easily evaporates in water and moisture, it can go unnoticed in drinking water or air inside the house. Exposure to high levels of MTBE over a long period of time can cause kidney and liver damage, drowsiness, cancer, respiratory diseases, and other health issues. Essentially, this will hamper the growth of the market.
This isobutene market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global isobutene market as a part of the global specialty chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the isobutene market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the isobutene market encompasses successful business strategies deployed by the key vendors. The isobutene market is fragmented and the vendors are deploying growth strategies such as increasing their product offerings to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The isobutene market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the isobutene market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of global specialty chemicals market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Market Segmentation by Application
7 Customer landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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