Isobutane Market: Overview
The isobutane market may record good growth across the forecast period of 2023-2030 on the back of its widespread use across various applications such as aerospace, rubbers, additives, lubricants, additives, household cleaners, and cosmetics. On the basis of purity, the isobutane market may be classified into Purity 99.7%, Purity 99.5%, Purity 99%, and others. Furthermore, based on the source, the isobutane market can be segmented into synthetic and bio-based. Pure-grade isobutane holds great importance in the market and may show significant growth across the forecast period.
This report on the isobutane market has research based on various parameters for analyzing the ideal growth generating factors. This aspect proves to be of great help to the market stakeholder and helps them design their business strategies accordingly. This report also covers the rapidly changing isobutane market scenario. The report also sheds light on the effects of COVID-19 on the isobutane market through 2023 – 2030.
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Isobutane Market: Industrial Analysis
The isobutane market comprises a highly fragmented landscape with a mix of local and international players in tough competition with each other. The manufacturers in the isobutane market are also focusing on expansion activities for generating isobutene. For instance, last year, the Kuwait Integrated Petroleum Industries Company announced its intentions to expand the production capacity of Al-Zour Refinery. Two UOP MErox units will be used for treating isobutene and an 11,800 biparietal diameter (BPD) Butamer unit will be used for converting normal butane to isobutene. Such developments bring good growth opportunities for the isobutane market.
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The participants in the isobutane market are also involved in activities such as mergers, acquisitions, collaborations, joint ventures, and partnerships to strengthen their foothold. These activities also prove to be growth multipliers for the isobutane market. Some well-established players in the isobutane market are Jinling Petrochemical, PBG Energy Inc., Sinopec Zhongyuan Petroleum Co., Praxair Distribution Inc., CryoCarb-Beloit, Conoco Philips, Amcor Inc., and Linde LLC.
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Isobutane Market: COVID-19 Perspective
The COVID-19 pandemic has led to the disruption of growth across numerous sectors across the world. The lockdown orders imposed for containing the deadly SARS-CoV-2 outbreak by various countries resulted in the complete shutdown of manufacturing facilities and production units, thus hitting a pause button on the economic activities. This aspect has left a negative impact on almost all businesses, including the isobutane sector. However, many countries are relaxing lockdown measures to revive the economy. This factor will help the isobutane market to rise steadily and recover from the losses incurred due to the pandemic.
Isobutane Market: Growth Boosters
Applications of isobutane across diverse end-users may sow the seeds of growth for the isobutane market throughout the forecast period. The use of isobutane as a replacement for chlorofluorocarbons (CFCs) in cosmetic products may bring promising growth for the isobutane market. It also finds use in shaving creams as it is a foaming agent as well. In addition, isobutane is highly preferred by synthetic rubber manufacturers due to lower resistance to liquids and gas. Petrochemicals are the most prominent end-users and may bring good growth opportunities for the isobutane market across the forecast period.
Isobutane Market: Regional Landscape
The isobutane market is spread across North America, Central America, South America, the Middle East and Africa, Europe, and Asia Pacific. The large presence of isobutane manufacturers across North America and Europe may prove to be a significant growth generating factor.
Asia Pacific may emerge as a rapid growth-generating region. Rising industrial infrastructure across developing economies like India and China is serving as a significant growth booster for the isobutane market across the forecast period. The Middle East and Africa may record medium growth throughout the forecast period.