Isobutylene Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The isobutylene market is segmented by product type (methyl tert-butyl ether and ethyl tert-butyl ether), end-use industry (aerospace, automotive, antioxidants, pharmaceuticals, and other end-user industries), and geography (Asia-Pacific, North America, Europe, South America, and the Middle East and Africa). The report offers market size and forecasts in terms of revenue (USD million) for all the above segments.

Isobutylene Market Size

Isobutylene Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR > 4.00 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration Low

Major Players

Isobutylene Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Isobutylene Market Analysis

The global Isobutylene market is projected to register a CAGR of more than 4% during the forecast period. The market was negatively impacted by COVID-19 in 2020. However, the market has now been estimated to have reached pre-pandemic levels and is expected to grow steadily in the future.

  • High demand for isobutylene from the aerospace and automotive industry is expected to drive market growth significantly.
  • On the other hand, the availability of alternative substitutes in the market is expected to hinder the expansion of the market.
  • Further, technological advancement and product innovation in the market is expected to provide growth opportunities in the coming years.
  • The Asia-Pacific region is expected to grow the fastest over the next few years, with major consumption from countries like China, India, and Japan.

Isobutylene Market Trends

Increasing Demand from Aerospace Sector

  • The increased demand for the product in the aerospace industry is projected to impact the global isobutylene market positively.
  • Isobutylene is highly employed in the aerospace industry as a fuel additive as it improves fuel efficiency, reduces carbon emissions, and raises the octane number.
  • According to the International Air Transport Association (IATA), the global revenue for commercial airlines was valued at USD 472 billion in 2021. It was estimated at USD 727 billion in 2022, registering a growth rate of 43.6% Y-o-Y.
  • Furthermore, the revenue is expected to reach USD 779 billion by 2023. Such factors are likely to increase the demand for isobutylene in the aircraft industry.
  • In North America, according to the Boeing Commercial Outlook 2022-2041, the total deliveries of new airplanes are anticipated to account for 9,310 units by 2041, with a market service value of USD 1,045 billion. Hence, supporting the market's growth
  • Furthermore, according to the Bureau of Transportation Statistics, the combined operating revenue of United States airlines has been increasing significantly. For instance, United States Airlines generated about USD 206.3 billion in 2022, thus benefiting the market positively.
  • Therefore, owing to the above-mentioned factors, the market is expected to grow significantly during the forecast period.
Isobutylene Market: Total Operating Revenue Streams, United States Airlines, (in USD Billion), 2019-2022

Asia-Pacific to Dominate the Market

  • Asia-Pacific has the largest share of the global Isobutylene market, owing to the growing automotive, aerospace, and pharmaceutical industries.
  • Expanding automotive and aerospace sectors across major countries such as China, Japan, India, Korea, etc., are, in turn, boosting the growth of the isobutylene market.
  • In the Asia-Pacific region, China, Southeast Asia, and South Asia aerospace market are expected to rise at a significant rate, which will further support the demand for the studied market. In China, according to the Boeing Commercial Outlook 2022-2041, around 8,485 new deliveries are expected to be made by 2041 with a market service value of USD 545 billion.
  • According to the China Association of Automobile Manufacturers (CAAM), China had the largest automotive production base in the world, with a total vehicle production of 27 million units in 2022, registering an increase of 3.4 % compared to 26 million units produced last year.
  • Further, in the first seven months of 2022, the country produced 14.57 million units of cars, registering a growth rate of 31.5% Year on Year. Thus, boosting the consumption of isobutylene in automotive sector.
  • Moreover, in India, during FY 2021-22 (April 2021 to March 2022), according to the Society of Indian Automobile Manufacturers (SIAM), the country's automotive industry produced a total of 22,933,230 vehicles compared to 22,655,609 units during April 2020 to March 2021. Hence, supporting the market growth.
  • Therefore, owing to the above-mentioned factors the Asia-Pacific region it is expected to benefit the market significantly.
Isobutylene Market - Growth Rate by Region

Isobutylene Industry Overview

The Isobutylene market is fragmented in nature. Some of the major players in the market include Exxon Mobil Corporation, LyondellBasell Industries Holdings B.V., Sumitomo Chemical Co., Ltd., BASF SE, and Honeywell International Inc., among others (in no particular order).

Isobutylene Market Leaders

  1. Exxon Mobil Corporation

  2. LyondellBasell Industries Holdings B.V.

  3. Sumitomo Chemical Co., Ltd.

  4. BASF SE

  5. Honeywell International Inc.

*Disclaimer: Major Players sorted in no particular order

Isobutylene Market Concentration
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Isobutylene Market News

  • March 2023: Butadiene LLP chose BASF's butadiene extraction and Lummus Technology, a provider of process technology and value-driven energy solutions, for units at the company's new petrochemical facility in Atyrau, Kazakhstan. Once completed, the units will upgrade a mixed butanes feed to produce 85,000 MTA of isobutylene, 40,000 MTA of methyl tert-butyl ether (MTBE), and 120,000 MTA of butadiene. These products will support Butadiene LLP's new synthetic rubber production facility and the Kazakhstan transportation fuels market.
  • March 2022: OMV received ISCC PLUS certification for producing renewable chemicals that include benzene, butadiene, and isobutylene at the Burghausen Refinery.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 High Demand For Isobutylene From The Aerospace And Automotive Industry

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 The Availability of Alternative Substitutes

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Value)

    1. 5.1 Product Type

      1. 5.1.1 Methyl Tert-Butyl Ether

      2. 5.1.2 Ethyl Tert-Butyl Ether

    2. 5.2 End-Use Industry

      1. 5.2.1 Aerospace

      2. 5.2.2 Automotive

      3. 5.2.3 Antioxidants

      4. 5.2.4 Pharmaceuticals

      5. 5.2.5 Other End-Use Industries

    3. 5.3 By Geography

      1. 5.3.1 Asia Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 France

        4. 5.3.3.4 Italy

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 BASF SE

      2. 6.4.2 Exxon Mobil Corporation

      3. 6.4.3 Honeywell International Inc.

      4. 6.4.4 KANEKA CORPORATION

      5. 6.4.5 LyondellBasell Industries Holdings B.V.

      6. 6.4.6 Nizhnekamskneftekhim

      7. 6.4.7 OMV Aktiengesellschaft

      8. 6.4.8 Praxair Technology, Inc.

      9. 6.4.9 Sumitomo Chemical Co., Ltd. TPC Group

      10. 6.4.10 TPC Group

      11. 6.4.11 Vinati Organics Limited

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Technological Advancement and Product Innovation In The Market

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Isobutylene Industry Segmentation

Isobutylene is a colorless gas with a mild odor of petroleum. Isobutylene is utilized as an intermediate in the manufacture of a wide range of products. It is used in the manufacture of aviation gasoline, other chemicals, antioxidants for food, packaging, plastics, etc., among others. The Isobutylene market is segmented by product type, end-user industry, and geography. By product type, the market is segmented into Methyl Tert-Butyl Ether and Ethyl Tert-Butyl Ether. By end-user industry, the market is segmented into aerospace, automotive, rubber, pharmaceuticals, and other end-user industries. The report also covers the market size and forecasts for the market in 15 countries across the globe. For each segment, the market sizing and forecasts have been done on the basis of value (USD million).

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Frequently Asked Questions

The Isobutylene Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)

Exxon Mobil Corporation, LyondellBasell Industries Holdings B.V., Sumitomo Chemical Co., Ltd., BASF SE and Honeywell International Inc. are the major companies operating in the Isobutylene Market.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia-Pacific accounts for the largest market share in Isobutylene Market.

The report covers the Isobutylene Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Isobutylene Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Isobutylene Industry Report

Statistics for the 2024 Isobutylene market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Isobutylene analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Isobutylene Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)