Analysis of Potential Impact of COVID-19 on Isobutylene Market
Global Isobutylene Market: Overview
Isobutylene refers to a colorless, flammable gas with a very unpleasant odor, which is likened to that of the smell of coal gas. Isobutylene is widely utilized in the production of high-octane aviation gasoline and in the process of organic synthesis. High demand of Isobutylene from various end-use industries, such as aerospace and aviation is likely to support growth of the global isobutylene market in the years to come. This chemical finds wide use in the making of rubber tubes and tires. It is also utilized in the form of fuel additive in many aerospace applications across the sector.
Isobutene or isobutylene is mostly used in the making of polybutylene i.e. butyl rubber and it serves as an intermediate agent for the manufacturing process of methyl tert-butyl ether. The global isobutylene market is estimated to be driven by its copious use in masterbatches, compounding, hot melt adhesives, and in plastic packaging. Furthermore, isobutylene is also useful for various niche applications, such as wires and cables, compression packaging, and electrical insulation. Such wide scope of application is estimated to bolster growth of the global isobutylene market in the years to come,
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Global Isobutylene Market: Notable Developments
One of the developments that offer a glimpse of the market dynamics about the global isobutylene Market is mentioned below:
- In August 2018, one of the leading plastics, chemicals and refining companies in the world, LyondellBasell Industries, announced the completion of its acquisition of A. Schulman, Inc. The latter is a prominent supplier of high-performance plastic powders, compounds, and composites. This acquisition is estimated to diversify the product portfolio of LyondellBasell Industries and widen its global footprint.
Some of the prominent organizations in the global isobutylene market include the below-mentioned:
- LyondellBasell Industries
- Honeywell International
- Zoucheng Qifa Chemical Co., Ltd
- Shandong Shouguang Luqing Petrochemical Co. Ltd
- Exxon Mobil Corporation
- BASF SE
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High Demand from Automotive and Aerospace Industry to Bolster Demand in the Market
The global isobutylene market is likely to be influenced by the growing demand for the product in aerospace and automotive industry. The rise in demand for isobutylene in the form of a fuel additive in the aerospace and automotive industry is likely to improve fuel efficiency, lessen emission of carbon, and boost the octane number. These factors are vital in supporting growth of the global isobutylene market in the near future.
In addition, increasing demand for butyl rubber is likely to drive the demand for isobutylene. Butyl rubber finds is widely utilized in the manufacturing of tires. Ethyl tert-butyl ether (ETBE) is a biofuel that is extracted from ethanol and isobutylene. ETBE comes with low boiling point, low pressure of vapor, and high content of octane, which makes it ideal for use in petrol blending.
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Global Isobutylene Market: Geographical Analysis
North America and Europe are estimated to account for most of the demand in the global isobutylene market due to its high demand from the automotive and aerospace industry. However, the growth prospect of Asia Pacific is highly promising and is likely to exhibit rapid growth over the period of analysis. China is one of the leading manufacturer as well as consumer of isobutylene and is estimated to drive the demand in the isobutylene market in Asia Pacific.
However the isobutene market growth prospects are the highest in Asia Pacific region, owing to the increasing demand from China. China is also one of the major manufacturers of isobutene in the world. Japan accounts for a substantial volume demand of isobutene. Although MTBE has been banned in few countries such as the U.S. and Japan, its demand is South America and Middle East has witnessed growth amidst concerns over air pollution and ground water contamination threats.
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