Growing Automotive, Construction Industries to Drive Isobutanol Market
The global isobutanol market is profiled in great detail in the latest research report from Market Research Future (MRFR), providing readers with a comprehensive overview of the market through its historical growth trajectory, present conditions, and future growth prospects. The historical stats of the isobutanol market are detailed in the report, in order to provide readers with a complete overview of the market’s historical growth trajectory. The historical stats provided in the report also give analysts a solid platform to base future projections about the market. Based on this platform, future projections for the isobutanol market’s growth trajectory over the forecast period are provided in the report. The leading players in the global isobutanol market are also profiled in the report in order to give readers a comprehensive analysis of the leading players in the global isobutanol market. The major drivers and restraints affecting the global isobutanol market are also profiled in the report to provide readers a comprehensive overview of what’s making the market tick and what is holding the market back.
Isobutanol is a colorless, mobile liquid that is used in various applications as a solvent, solubilizer, additive and extracting agent. The growing demand for coatings containing isobutanol is likely to be the major driver for the global isobutanol market over the forecast period. Isobutanol is widely used in coatings to enable a smoother flow and to lower the viscosity of the formulation. The increasing demand for paints and coatings for use on metals and wood is likely to be a major driver for the isobutanol market over the forecast period. Isobutanol is also used in the production of antibiotics and vitamins, among other pharmaceutical industry products. This is a key end-use area for isobutanol and is likely to remain a major driver for the isobutanol market over the forecast period.
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Fluctuations in the prices of crude oil are likely to restrain market growth over the forecast period. Due to geopolitical tensions as well as the discovery of new oil reserves, prices of petroleum have fluctuated in recent years. This has had a significant adverse impact on the isobutanol market over the last few years.
Leading players in the global isobutanol market include Lesaffre Advanced Fermentations, SIBUR, Ineos, Oxea GmbH, Mitsubishi Chemical Corporation, The Dow Chemical Company, Sahara PCC, Butamax Advanced Biofuels LLC, Gevo, Eastman Chemical Company, and BASF SE.
The global isobutanol market is segmented on the basis of type, application, end-use, and region.
By type, the global isobutanol market is segmented into biobased and synthetic. The synthetic segment currently dominates the global isobutanol market due to its ease of production. Due to the strong existence of petroleum refinery infrastructure, synthetic isobutanol can be readily prepared and obtained through petroleum. This has elevated the availability of synthetic isobutanol on a global scale. However, biobased isobutanol is likely to grow in demand over the forecast period due to the growing awareness about the need to obtain biobased alternatives to petroleum-based products. Due to the scarcity of petroleum, the demand for biobased alternatives has grown rapidly over the last few years. This is likely to remain a key driver for the biobased segment of the isobutanol market over the forecast period.
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By application, the global isobutanol market is segmented into intermediate, solvent, solubilizer, extracting agent, additive, and others. The intermediate segment holds the largest share in the global isobutanol market.
By end-use, the global isobutanol market is segmented into pharmaceuticals, oil and gas, paints and coatings, textiles, chemicals, and others.
The Asia Pacific dominates the global isobutanol market due to the growing petroleum industry in the region. China is likely to emerge as a global leader in the global isobutanol market over the forecast period. The growing consumption of paints and coatings in the growing automotive and construction industries in the Asia Pacific is likely to be a major driver for the isobutanol market in the Asia Pacific over the forecast period.
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