Isobutanol Market Set Close To USD 1.18 billion From 2025
What is a Isobutanol?
Isobutanol is an alkyl alcohol that is
propan-1-ol substituted by a methyl group at position. It has a role as a
Saccharomyces cerevisiae metabolite. It is a primary alcohol and an alkyl
alcohol.
Isobutanol is also termed, as isobutyl
alcohol, 2-Methylpropan-1-ol, or 2-Methyl-1-propanol is an organic compound
with the molecular formula (CH3) 2CHCH2OH and molecular weight 74.123 g/mol. it
is a colorless aliphatic alcohol and is a flammable liquid. It is exclusively
used as a solvent in chemical reactions and as a starting material for organic
synthesis. It is mainly found as a volatile constituent of urine and rises from
gut microbial metabolism.
The
Isobutanol Market is estimated to grow at a significant CAGR of 6.0% over the
forecast period as the scope and its applications are rising enormously across
the globe. Rising demand amongst end users like chemical and oil & gas and
its properties like limited miscibility and medium volatility are documented as
major factors of Isobutanol Market that are estimated to enhance the growth in
the years to come. However, fluctuations in pricing and supply of crude oil may
restrain overall market growth in the coming years. Isobutanol industry is
segmented based on type, end user, and region.
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Bio-based
isobutanol and synthetic isobutanol are the types that could be explored in
Isobutanol Market in the forecast period. Synthetic isobutanol sector accounted
for the substantial market share of Isobutanol in terms of volume and is
estimated to lead the overall market in the coming years. This may be because
of high demand from developing countries like China and India. Also, bio-based
isobutanol is estimated to grow at fastest pace in the coming years.
The
market may be categorized based on end users like textiles, paints &
coatings, chemicals, oil & gas, pharmaceuticals, and others that may be
explored in the forecast period. Paints & coatings sector comprise wood
coatings, automotive, and others. Chemicals sector accounted for the
significant market share of Isobutanol and is estimated to lead the overall
market in the coming years. This may be because of high demand from
construction and automotive industries. Also, oil & gas sector is estimated
to grow at fastest pace in the coming years.
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Globally,
Asia Pacific accounted for the substantial market share of Isobutanol and is
estimated to lead the overall market in the coming years. The reason behind the
overall market growth could be growing several industries like construction,
oil & gas, and petrochemicals in developing countries. Instead, Europe and
North America are also estimated to have a positive influence on the future
growth. Europe is the second largest region with significant market share.
However, North America is estimated to grow at fastest pace with the highest
CAGR in the foremost period.
The
key players of Isobutanol industry are Perstorp Holding AB and Sasol Ltd.,
BASF, Mitsubishi Chemical Corporation, The Dow Chemical Company, Oxea GmbH,
Eastman Chemical Company, Formosa Plastics Corp., Toray, and Fitesa. These
players are concentrating on inorganic growth to sustain themselves amongst
fierce competition. As companies all over the world have to believe that
alliance with a market would permit them proportional market existence and
authority to declare the leadership position.
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