Isobutene Market Size, Share, Trends and Forecast Report 2023-2030

Market Overview
Isobutene, also known as 2-methylpropene or isobutylene, is an isomeric C4 hydrocarbon. Under pressure, the colourless gas liquefies swiftly. Gas is a flexible and vital basic building element in chemical synthesis because of its reactivity and other properties. Isobutene is a raw material used to make several polymers or completed goods, such as antioxidants, polyisobutene (PIB), and a variety of citral-based products.

Furthermore, isobutene is principally employed in the production of polybutylene (butyl rubber) and as a precursor in the production of methyl tert-butyl ether. These products are often used in hot melt adhesives, compounding, masterbatches, plastic packaging, electrical insulation, compression packaging, wires and cables, and other specialized applications.

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Market Growth Analysis
According to DataM Intelligence's latest report the "Global Isobutene Market" is estimated to grow at a CAGR of 4.0% during the forecast period 2023-2030.

Market Drivers
The Cosmetics Industry Aids the Isobutene Market
According to NASA, global temperatures have increased drastically in the last 35 years. Almost eight of the twelve months of 2016 witnessed the hottest temperatures ever recorded in the respective months. Chlorofluorocarbons (CFCs) are thought to be one of the biggest causes of global warming, and the Montreal Protocol limited their usage to up to 15% of their production. Isobutene is used to replace CFCs in cosmetics and personal care products, and the increased focus on achieving a CFC-free world is fueling the growth of the isobutene industry.

Aerospace Industry Growth
Isobutene is more flexible than hydrogen and can be used as a gasoline additive as well as in jet fuel. High prices and pollution affect the planet, and isobutene's capacity to operate as a renewable fuel is amazing. The International Air Transport Association (IATA) predicts that the air transport fleet will rise to 39,000 aircraft by 2027. This will pave the way for the isobutene industry to expand in the following years.

Market Opportunities
Application of Isobutene in the Food Additives Market
The food business is expanding rapidly in tandem with the growing population. Isobutene is often used to produce butylated hydroxytoluene, an antioxidant that is used in trace amounts as a food additive. Data from the Food and Drug Administration (FDA) demonstrate that isobutene may be used as a food additive if the butyl content of the final food product is more than 18%. Given the expansion of the food market, the isobutene sector is expected to provide lucrative opportunities.

Segmentation Analysis
The global isobutene market is segmented by raw material, application, end-user and region.

By Raw Material
1. Petroleum-Based
2. Bio-Based

By Application
1. Rubber
2. Fuel Additives
3. Methyl Tert-Butyl Ether (MTBE)
4. Ethyl Tert-Butyl Ether (ETBE)

By End-User
1. Automotive
2. Aerospace
3. Pharmaceutical
4. Cosmetics, and Personal Care

By Region
1. North America
2. Europe
3. South America
4. Asia Pacific
5. Middle East, and Africa

Application Insights
Methyl tert-butyl ether (MTBE) has emerged as the dominant segment in the isobutene market. The product is used in various sectors, including automotive and aerospace. Isobutylene is refined into butyl rubber by polymerizing it with isoprene. Butyl rubber, on the other hand, is extensively utilized in the automobile and pharmaceutical sectors.

Although the benefits and advantages of using MTBE are widely known, the United States has prohibited its use owing to the health risks associated with seeping into the environment. Over 90% of the methyl tertiary butyl ether produced is utilized in gasoline as an octane enhancer and to oxygenate it. Because of its high octane rating, it is appropriate for usage in areas where higher-octane gasoline types are available. It has been chosen over ethanol because of its greater effectiveness in reducing benzene and formaldehyde in gasoline, as well as its lower volatile organic compound concentration.

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Key Developments
The new linear alpha olefins (LAO) production plant at ExxonMobil's integrated petrochemical complex in Baytown, Texas, is expected to be finished in March 2022, with the unit operating by mid-2023.
In March 2022, Evonik paid millions of dollars to improve the capacity of its Marl factory for producing isobutene derivatives.

Regional Analysis
Product demand in APAC is predicted to expand due to robust industrial growth and growing disposable income per capita. As a consequence of these variables, consumer confidence has improved, and expenditure on passenger and light vehicles has increased.

Southeast Asian nations including Malaysia, Thailand, and Vietnam, will have a large market influence. The region's emerging nations are working hard to improve their automobile sectors. These nations' governments are continually focused on trade.

Despite the economic slump, the automobile industry in the United States has witnessed a steady increase in sales and output. Because of expanding discretionary money, consumers prefer to acquire individual passenger automobiles while savouring more expensive versions.
These variables will boost MTBE consumption of rubber tubes, tires, and other vehicle components during the projected period.

Competitive Landscape
Key players operating in the global isobutene market are LyondellBasell Industries Holdings B.V., BASF SE, Linde plc, Tokyo Chemical Industry Co., Ltd., Honeywell International Inc., Evonik Industries AG, Merck KGaA, Global Bioenergies, SONGWON, Vinati Organics Limited, and others.

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