Isobutene Market

1. Isobutene Market Revenue Drivers, Growth Opportunities, Value Chain Analysis and Forecast Research Report Till 2024 “Global Isobutene Market is estimated to reach USD 30.71 billion by 2024 owing to the rise in demand for rubber from automotive industry.” The global Isobutene Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development. Market Overview: Global Isobutene Market is estimated to reach USD 30.71 billion by 2024 owing to the rise in demand for rubber from automotive industry. Isobutene is a colourless inflammable gas that with typical olefin odorant no corrosive properties. Isobutene can be easily dissolved in ether, hydrocarbons and alcohol but slightly insoluble in water. Chemically, it holds reactions of olefins like electrophilic addition, oxidation, hydrogenation, and polymerization. Key Players: BASF SE Evonik Industries AG. ExxonMobil Chemicals Company, Inc. ABI Chemicals, LLC Global Bioenergies SA Praxair Inc. Syngip BV LanzaTech Inc. Songwon Industrial Co., Ltd. Honeywell International Inc. TPC Group LLC LyondellBasell Industries N.V

2. Request free sample to get complete analysis of top-performing companies @ https://www.millioninsights.com/industry-reports/isobutene-market/request-sample Growth Drivers: Also the growth in end user industries is also expected to accelerate the growth of the market in the years to come. One of the leading manufacturers, Evonik Industries has recently tripled their production capacity at Belgium, Antwerp in expectation of increasing demand of isobutene and for establishing niche market in Europe. Moreover, government initiatives like development of smart cities are offering significant boost to isobutene industry. Regions like North America, Europe and Asia Pacific are expected to stimulate the demand for isobutene in the coming years. Despite wide applications of isobutene in several end use industries, the chemical is prone to price fluctuations from sources. This downside is expected to affect the volatility of crude oil, which directly affects isobutene market. Furthermore, owing to the toxic properties, and strict measures for the prevention of leakage in the air, isobutene is extremely regulated chemical. Biological isobutene is gaining popularity and is predicted to grow speedily and gradually replace petrol-based isobutene. Another manufacturer has contributed significantly for developing bio alternative to the traditional process. They are focusing on developing and patenting a procedure to convert carbohydrates to isobutene with the help of fermentation process. With the success towards sustainable biological alternatives, the technology is predicted to attract market players and gain huge momentum in future. Product Outlook: Methyl Tert-butyl Ether (MTBE) Ethyl Tert-butyl Ether (ETBE) Application Outlook: Automotive Aerospace Antioxidants Pharmaceuticals Growth in aerospace segment and increase in demand for rubber from automobile segment is majorly driving isobutene industry. Isobutene is made from polyisobutene which is the predecessor chemical for making lubricant additives and fuel. Isobutene is combined with methanol to create isooctane, which is used as fuel additive in aviation fuel. It is widely used in manufacturing of rubber for automobile tires and tubes for automotive segment. Besides, isobutene is also used in the manufacturing of fine chemicals, anti-oxidants and plastics which triggers the growth of isobutene market. Owing to the rising need, automotive industry is expected to hold larger market share of isobutene in the coming years. Geographically, isobutene industry is segmented as North America, Central & South America, Europe, Asia Pacific, and Middle East & Africa. Owing to the increasing preference of isobutylene in the production of several synthetic chemical products, Asia Pacific region is predicted to dominate the market. The key players in the market of isobutene comprise BASF, Evonik, YEOCHUN NCC, LyondellBasell Industries Holdings, Global Bioenergies, and TPC Group. Browse Related Category Research Reports @ https://industryanalysisandnews.wordpress.com/

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