About High Purity Isobutylene
High Purity Isobutylene (HPIB) is an olefinic hydrocarbon produced by dehydration of tert-butanol. The production of various synthetic chemical products is done using high-purity isobutene or isobutylene. It is used in the production of alkylated phenols used as antioxidants, high-reactivity polyisobutylene, butyl rubber, and Tertiary butyl acetate (TBAC solvent). The factors such as excellent chemical and mechanical properties and Increased applications in the automotive industry are driving factors for the global high purity isobutylene market. Toxic Effects of the Derivatives may hamper market growth.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 4.0% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new modifications in the existing products and collaborations as per their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a large competitive advantage through the combined synergies. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global High Purity Isobutylene market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
LyondellBasell (Netherland), Evonik Industries (Germany), Tasco Group (United States), Shandong Chambroad Petrochemicals Co.Ltd (China), Honeywell International Inc. (United States), TPC Group (United States), Songwon (South Korea), Sumitomo Chemical (Japan), Saipem (Italy) and Global Bioenergies (Germany) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Zibo Qixiangtengda Chemcial Co., Ltd. (China), ExxonMobil Corporation (United States) and Zhejiang Shunda New Material Co., Ltd. (China).
Segmentation Overview
AMA Research has segmented the market of Global High Purity Isobutylene market by , Application (Butyl Rubber, Polyisobutylene, Tert-Butylphenol Series Product, Trimethylacetic Acid and Methyl-Ally-Chloride) and Region.
On the basis of geography, the market of High Purity Isobutylene has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Grade, the sub-segment i.e. Polymer Grade will boost the High Purity Isobutylene market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Method, the sub-segment i.e. MTBE Decomposition Method will boost the High Purity Isobutylene market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Expenditure on R&D Activities
Market Growth Drivers:
Excellent Chemical and Mechanical Properties and Increased Application in the Automotive Industry
Challenges:
Hazardous Effects on the Environment and Ricing Concerns about Harmful Emissions from Automobiles
Restraints:
Toxic Effects of the Derivatives
Opportunities:
Growing Demand from Rubber Industry
Market Leaders and their expansionary development strategies
In June 2023, ExxonMobil Catalysts and Licensing LLC and Axens have signed an exclusive licensing alliance agreement allowing Axens to include ExxonMobil’s MTBE Decomposition Technology for high purity isobutylene in its portfolio.
In February 2023, Axens is pleased to announce the launch of the Jetanol™ brand for its Alcohol-to-Jet technology. Evidenced by its competitive selection this solution is being deployed for five industrial-scale projects that are now in the advanced stages of engineering and/or early phases of construction, with cumulative SAF production capacity of over 1.4 million tons (460 Million Gallons) per year.
Key Target Audience
High Purity Isobutylene Manufacturers, High Purity Isobutylene Suppliers and Distributors, Potential Investors, Raw Material Suppliers, High Purity Isobutylene Associations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.