According to a new market research report published by Global Insight Services “Isobutene Market is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Isobutylene is a highly flammable colorless gas with a slight petroleum-like odor. Isobutene is used as a fuel and as a feedstock for the production of chemicals such as isobutylene oxide, which is used to make polyurethane foam.
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Key Players
- ExxonMobil
- Royal Dutch Shell
- Chevron
- British Petroleum
- Total
- Marathon Petroleum
- Valero Energy
- Phillips 66
- Sunoco
- Alon USA
- CVR Energy
- Delek US
- Koch Industries
- LyondellBasell
Covid-19 Impact:
The outbreak of COVID-19 has had a significant impact on the isobutene industry. The pandemic has led to a decrease in demand for isobutene as a result of economic slowdown and disruptions to the global supply chain. This has resulted in a decrease in isobutene prices and a decrease in production. The impact of COVID-19 on the isobutene industry is expected to continue in the short to medium term.
Key Trends and Drivers:
The Isobutene market is driven by a variety of factors. One of the key drivers is the increasing demand for isobutene-based products. This is due to the fact that isobutene has a variety of uses, including in the production of gasoline, plastics, and rubber. Additionally, isobutene is a key ingredient in many adhesives and sealants. As the world economy continues to grow, the demand for these products is expected to increase, driving up the price of isobutene.
Another key driver of the Isobutene market is the limited supply of isobutene. Isobutene is produced as a by-product of ethylene production, and the majority of isobutene production takes place in Europe and the United States. However, due to the limited number of ethylene production facilities around the world, the supply of isobutene is constrained. This has led to increased competition among buyers for isobutene, driving up prices.
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Market Segments
By Product
- Methyl Tert-butyl Ether (MTBE)
- Ethyl Tert-butyl Ether (ETBE)
By Application
- Automotive
- Aerospace
- Antioxidants
- Pharmaceuticals
- Others
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