$ 7.31 Billion Growth in Isobutene Market During 2020-2024 | 43% Growth to Come from APAC | Technavio

Technavio has announced its latest market research report titled Global Isobutene Market 2020-2024 (Graphic: Business Wire)

LONDON--()--Global isobutene market will grow by USD 7.31 billion during 2020-2024.

Amid the COVID-19 pandemic, the global isobutene market registered a YOY growth of 4.12% in 2020 and the market is estimated to expand at a CAGR of over 4% during the forecast period. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the market in optimistic, probable, and pessimistic forecast scenarios. - Get Free Sample Report Delivered Instantly to Know More

Isobutene Market: Rising demand for rubber from the automotive industry to drive growth

The automotive industry has grown exponentially over the years, especially in developing countries such as China and India. This growth is significantly increasing the demand for tires in the automotive industry. Isobutylene is extensively used in the production of synthetic rubber, butyl rubber, and isobutylene-isoprene rubber (IIR). Therefore, the rising demand for rubber in the automobile industry is expected to fuel the growth of the global isobutene market during the forecast period.

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As per Technavio, the growing demand for isobutene in the manufacturing of fine chemicals, adhesives, and antioxidants will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.

Isobutene Market: Growing Demand in the Manufacturing of Fine Chemicals, Adhesives, and Antioxidants

Isobutene is one of the key ingredients that is used in the production of plastics, adhesives, antioxidants, and specialty chemicals. Isobutene is also used in the manufacturing of antioxidants that find numerous applications in the food and beverages industry. Besides, the US FDA and regulatory bodies in the EU have approved the use of BHT as a food additive in minute quantities. These factors are increasing the demand for isobutene in the manufacture of various chemicals, adhesives, and antioxidants, which is driving the market growth.

“Rising demand for gasoline additives and the growth of aerospace and pharmaceutical industries will further boost market growth during the forecast period,” says a senior analyst at Technavio.

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Isobutene Market: Major Vendors

The report covers details on the market’s competitive landscape and offers information on the products offered by various companies, including:

  • Chevron Phillips Chemical Co. LLC
  • Evonik Industries AG
  • LyondellBasell Industries NV

Isobutene Market: Segmentation Analysis

This market research report segments the isobutene market by product (Methyl tert-butyl ether (MTBE) and Ethyl tert-butyl ether (ETBE)) and geography (APAC, Europe, North America, MEA, and South America).

The APAC region led the isobutene market in 2020, followed by Europe, North America, MEA, and South America respectively. During the forecast period, APAC is expected to register the highest incremental growth due to factors such as the rapidly increasing automotive industry, growth in the manufacturing sector, and the rising per capita disposable income.

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Some of the key topics covered in the report include:

Market Share by Competitors

Market Challenges

Market Drivers

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Release Summary

The Isobutene Market will grow by $ 7.31 bn during 2020-2024


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/