The Global Isobutane for Petrochemicals Market is expected to reach USD 38.82 Billion by 2028, according to a new report by Reports and Data. Isobutane is a colorless gas with a slight petroleum-like odor. It is very inflammable and is denser than air. Among the five natural gas liquids, isobutane has a distinctive place in the market. Isobutane is produced from gas processing plants and refineries and is also the only NGL purposely produced from another NGL –n-butane.
Isobutane is principally used in refineries as a gasoline – petrol – additive. It is processed to make alkylate through the process of alkylation. It is used to produce isooctane, a high octane gasoline constituent, which increases the octane rating and anti-knock characteristics of gasoline. This extensive implementation of isobutane in refineries and petrochemical plants is forecasted to drive the market growth.
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Top Players in the Global Isobutane for Petrochemicals Market:
Conoco Phillips, Linde, Praxair Technology, Air Liquide, Shell Trading International Limited, Sirloong, Jinling Petrochemicals, Taiyo Nippon Sanso Corporation, Evonik and Sibur
Further key findings from the report suggest
- Pure grade isobutane is forecasted to witness highest growth rate of 6.8% in the forecast period owing to the application of this grade of isobutane in alkylation process as well as in refrigeration systems. Technical grade isobutene is forecasted to reach USD 10.71 billion by 2028.
- Isobutane does not have the harmful characteristics of Freon and other related compounds. Thus, it is extensively used in all types of refrigeration systems, extending from small home solutions to massive commercial freezers. Isobutane is denoted as R-600a when it is applied as propellants in aerosols or as refrigerants.
- Petrochemicals is projected to capture more the 60% of the market in the forecast year reaching USD 20.77 billion by 2028. This can be attributed to the very high use of isobutane as feedstock which are used in the formation of the suitable atmosphere for production of isooctane. Researches are being done on various capabilities of isobutane as a feedstock in improving the production of numerous other compounds.
- Isobutane is one among the hydrocarbons which are liquefied under pressure and are used as fuel in the form of LPG.
- Asia Pacific is estimated to capture the largest market share in the with a growth rate of 6.7% during the forecast period due to the presence of large number of refineries in the region, especially in countries like China, India, Japan and South Korea. The market in North America is projected to reach USD 7.17 billion by 2028.
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Market segmentation based on Type Outlook:
- 99% Pure
- 5% Pure
- 7% Pure
- Others
Grade Outlook:
- Pure Grade
- Instrumentation Grade
- Technical Grade
Application Outlook:
- Refrigeration System
- Cosmetic Products
- Petrochemicals
- Aerosols
- Others
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
Key Attentions of Isobutane for Petrochemicals Market Report:
The report offers a complete and broad perspective on the global Isobutane for Petrochemicals Market.
The market statistics depicted in the various Isobutane for Petrochemicals Market segments give a complete picture of the industry.
The market growth drivers and challenges affecting the development of the Isobutane for Petrochemicals Market are analyzed in detail.
The report will aid in the analysis of key competitive market scenarios and Isobutane for Petrochemicals Market dynamics.
Major players, Isobutane for Petrochemicals Market key companies, investment feasibility, and study of new market entrants are offered.
The scope of development of the Isobutane for Petrochemicals Market in each market segment is covered in this report.
The macro and microeconomic factors that influence the Isobutane for Petrochemicals Market progress are detailed in this report.
The upstream and downstream components of the Isobutane for Petrochemicals Market and a complete value chain are explained.
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