19th November 2019 – Global Isobutanol
Market is expected to reach USD 1.18 billion by 2022. Isobutanol is
also termed, as isobutyl alcohol, 2-Methylpropan-1-ol, or 2-Methyl-1-propanol
is an organic compound with the molecular formula (CH3) 2CHCH2OH and molecular
weight 74.123 g/mol. it is a colorless aliphatic alcohol and is a flammable
liquid. It is exclusively used as a solvent in chemical reactions and as a
starting material for organic synthesis. It is mainly found as a volatile
constituent of urine and rises from gut microbial metabolism.
The Isobutanol Market is estimated to
grow at a significant CAGR of 6.0% over the forecast period as the scope and
its applications are rising enormously across the globe. Rising demand amongst
end users like chemical and oil & gas and its properties like limited
miscibility and medium volatility are documented as major factors of Isobutanol
Market that are estimated to enhance the growth in the years to come. However,
fluctuations in pricing and supply of crude oil may restrain overall market
growth in the coming years. Isobutanol industry is segmented based on type, end
user, and region.
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Bio-based isobutanol and synthetic
isobutanol are the types that could be explored in Isobutanol Market in the
forecast period. Synthetic isobutanol sector accounted for the substantial
market share of Isobutanol in terms of volume and is estimated to lead the
overall market in the coming years. This may be because of high demand from
developing countries like China and India. Also, bio-based isobutanol is
estimated to grow at fastest pace in the coming years.
The market may be categorized based on
end users like textiles, paints & coatings, chemicals, oil & gas,
pharmaceuticals, and others that may be explored in the forecast period. Paints
& coatings sector comprise wood coatings, automotive, and others. Chemicals
sector accounted for the significant market share of Isobutanol and is
estimated to lead the overall market in the coming years. This may be because
of high demand from construction and automotive industries. Also, oil & gas
sector is estimated to grow at fastest pace in the coming years.
Globally, Asia Pacific accounted for the
substantial market share of Isobutanol and is estimated to lead the overall
market in the coming years. The reason behind the overall market growth could
be growing several industries like construction, oil & gas, and
petrochemicals in developing countries. Instead, Europe and North America are
also estimated to have a positive influence on the future growth. Europe is the
second largest region with significant market share. However, North America is
estimated to grow at fastest pace with the highest CAGR in the foremost period.
The key players of Isobutanol industry
are Perstorp Holding AB and Sasol Ltd., BASF, Mitsubishi Chemical Corporation,
The Dow Chemical Company, Oxea GmbH, Eastman Chemical Company, Formosa Plastics
Corp., Toray, and Fitesa. These players are concentrating on inorganic growth
to sustain themselves amongst fierce competition. As companies all over the
world have to believe that alliance with a market would permit them proportional
market existence and authority to declare the leadership position.
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