Global Isobutanol Market is expected to reach USD 1.18 billion by 2022. 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.
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.
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.
Isobutanol Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
• Synthetic Isobutanol
• Bio based Isobutanol
Isobutanol Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
• Oil & Gas
• Solvents & Coatings
• Chemical Intermediate
Isobutanol Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
Research Support Specialist, USA