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.
Isobutene
is a base material for numerous final products and intermediates like butyl
rubber, polyisobutene, alkyl-tert-butyl ether, isoprene, methyl methacrylate,
diisobutene, mercaptanes, tert-butanol, vitamins, fragrances, alkylphenols,
antioxidants, methacroleine, synthetic resins, adhesive resins, tackifiers,
methacrylicacid and PMMA. They are also used in additives for fuels and
lubricants, dispergators, organic acids, cross-linking agents and curing
agents, isoamylalcohol, peroxidicpolymerization initiators, methallylsulfonate,
alkylchlorides, methallylchloride, isobuteneoxide.
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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.
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.
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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.
Isobutene
industry is categorized on the basis of product, application, and geography. On
the basis of product, the market is divided into Methyl Tert-butyl Ether (MTBE)
and Ethyl Tert-butyl Ether (ETBE).Methyl Tert-butyl Ether (MTBE) is the type of
the market and is expected to grow significantly in the coming years owing to
its increasing preference over Ethyl Tert-butyl Ether (ETBE).
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