May 23, 2017, Tampa, Florida – Global isobutene market is estimated to reach USD 38.1 billion by 2024, according to a new research study published by Ameri Research.Increasing consumption of isobutylene-based elastomers in theautomotive industry is anticipated to drive market growth. It finds application scope across end-use industries such as aerospace, automotive, plastics, pharmaceuticals and antioxidants.
Automotive applications such as hose, inner tire, and dynamic parts utilize these elastomers extensively across the globe. Properties such as low permeability to liquids &gases and resistance to heat, chemical & inherent ozone are driving isobutene demand. Increasing automotive sales in emerging economies of Asia Pacific and Latin America is projected to drive overall industry growth.
Escalating investments in aerospace sector coupled with widening application scope is set to uplift market growth over the forecast period. The aerospace application segmentaccounted for over 20% of the overall industry revenue in 2016.Isobutene-isoprene rubber or butyl rubbers are widely utilized in atypical application such as tires, vacuum seals and membranes.
Click the link below to view the report description: – https://www.ameriresearch.com/product/isobutene-market-outlook-2024
Key findings from the study: –
- MTBE was the leading product and is estimated to grow at a CAGR of 5.7% from 2017 to 2024. It is extensively used in gasoline as an octane booster and oxygenate.
- Asia Pacific emerged as the fastest growing regional market and accounted for over 25% of the overall industry revenue.Rising income levels along with thegrowth of automotive and pharmaceutical industries is a key factor boosting isobutene demand in the region.
- Automotive was the leading application segment and is set to witness a CAGR of 5.8% from 2017 to 2024. Recovery of theautomotive industry in developed economies of North America and Europe is anticipated to influence segment growth positively.
- The emergence of biobased isobutene from natural sources such as sugar beet is gaining wide acceptance owing to increasing preference for environment-friendly products.
- Major industry participants include Evonik Industries AG, Honeywell International Inc., BASF SE, TPC Group LLC, Praxair Inc., LanzaTech Inc., ABI Chemicals, ExxonMobil Chemicals Company, Global Bioenergies SA, Syngip BV, and LyondellBasell Industries.
- Companies such as Evonik Industries and Global Bioenergies SA have expanded their production capacities in order to cater to rising demand and penetrate regional level markets.
- Isobutene Market by Product (Volume, Kilo Tons; Revenue, USD Million)
- Methyl Tert-Butyl Ether (MTBE)
- Ethyl Tert-Butyl Ether (ETBE)
- Isobutene Market by Application (Volume, Kilo Tons; Revenue, USD Million)
- Isobutene Market by Region (Volume, Kilo Tons; Revenue, USD Million)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
- Saudi Arabia
Company Name: Ameri Research Inc
Contact Person: Media Relations
Address:6816 Muncaster Ct, Tampa, FL 33625
Country: United States