Isobutane Market Insights by Growing Trends and Demands Analysis to 2028
The isobutane market is projected to grow at a rate of 6.6% in terms of value, from 2020 to reach USD 38.82 Billion by 2028. There is a huge requirement for isobutane in the petrochemical plants refineries, and various other industries such as the food industry and automobile industry among others. Isobutane is widely used in refineries for production of ethane or ethylene by steam cracking. Refineries mainly use isobutane to improve the octane number of gasoline. Isobutane may also be used as lightning fuel for common lighters.
Isobutane is highly inflammable in nature and need to be used with extreme precaution. Use of isobutene as refrigerants in refrigerators and air conditioners in home appliances is considered to be perilous and therefore used cautiously.
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Top Players in the Global Isobutane Market:
Conoco Phillips, Linde, Praxair Technology, Air Liquide, Shell Trading International Limited, Sirloong, Jinling Petrochemicals, Taiyo Nippon Sanso Corporation, Evonik and Sibur
The market for isobutene in the Asia Pacific region is projected to observe the highest growth rate owing to an increase in the petroleum refineries and petrochemical plants especially in countries like China and India. The market demand is this region is also attributed to the surging demand of isobutane as refrigerants and aerosol propellants in various other industries.
Market segmentation based on Type Outlook:
- 99% Pure
- 5% Pure
- 7% Pure
- Pure Grade
- Instrumentation Grade
- Technical Grade
- Refrigeration System
- Cosmetic Products
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Frequently Asked Questions Answered in the Report:
- What is the estimated revenue growth rate of the global Isobutane market over the forecast period?
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- Which are the leading manufacturers and suppliers in the global Isobutane market?
- Which regional market is expected to lead in terms of revenue share in the global Isobutane market over the forecast years?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?
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