Global Isobutene Market: Drivers and Restraints
High use of isobutene as a fuel additive in aerospace applications, and the rubber tires and tubes industry is prophesied to significantly augur well for the global isobutene market. Chemical compounds produced with the use of isobutene are used in niche applications such as wires and cables, compression packaging, and electrical insulation and other applications such as plastic packaging.
However, volatility in the prices of raw materials is foretold to hamper the growth of the market.
Global Isobutene Market: Forecast by Product and Application
The global isobutene market is classified into tert-butanol (TBA) and methyl tertiary butyl ether (MTBE) cracking by product. In 2017, MTBE cracking secured an impressive market proportion of about 74%. This segment is foretold to bear the brunt of the rising popularity of ethanol as a gasoline blending agent and increasing concerns about the contamination of groundwater due to MTBE leakage.
The report also classifies the market according to application, and the key segments studied are PIB, MMA, butyl rubber, and others. Among these, butyl rubber accounted for the highest consumption proportion of the market in 2017.
Global Isobutene Market: Forecast by Region
The analysts provide deep analysis of different regions and countries, namely the MEA, Central and South America, Southeast Asia, India, Japan, China, Europe, and North America. For customized reports, they also cover other important geographies.
North America is the largest consumption region and also the largest supplier of isobutene. In 2017, it accounted for the largest market share in terms of consumption. Europe secures the second position in the market on the basis of both consumption and production. Besides these two regions, China and Japan are considered to be important for isobutene market sales.
Global Isobutene Market: Competitive Landscape
The global isobutene market competition is expected to grow intense in the coming years. Market leaders are envisaged to leverage their strong base of high-end customers and key patents and technologies to achieve a position of strength in the market. Moreover, they have created a global market channel in the industry.
More number of producers are prognosticated to enter the market with its future expansion.
Global Isobutene Market: Key Players
Buyers of the report are provided with comprehensive company profiling of major players such as Qifa Chemical, Yuhuang Chemical, Sumitomo Chemical, Yuhua Group, Evonik, Enterprise Products Partners, Nizhnekamskneftekhim, Exxon Mobil, TPC Group, and Lyondell Basell.
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