Isobutane market is expected to grow at a CAGR of 6.6% in terms of value and reach USD 38.82 Billion in 2028.
The Isobutane Market is expected to reach USD 38.82 Billion by 2028, according to a new report by Reports and Data. Isobutane is a colorless gas with a slight petroleum-like odor. It is very inflammable and is denser than air. Among the five natural gas liquids, isobutane has a distinctive place in the market. Isobutane is produced from gas processing plants and refineries and is also the only NGL purposely produced from another NGL –n-butane.
Isobutane is principally used in refineries as a gasoline – petrol – additive. It is processed to make alkylate through the process of alkylation. It is used to produce isooctane, a high octane gasoline constituent, which increases the octane rating and anti-knock characteristics of gasoline. This extensive implementation of isobutane in refineries and petrochemical plants is forecasted to drive the market growth.
The market for isobutene in the Asia Pacific region is projected to observe the highest growth rate owing to an increase in the petroleum refineries and petrochemical plants especially in countries like China and India. The market demand is this region is also attributed to the surging demand of isobutane as refrigerants and aerosol propellants in various other industries.
Companies considered and profiled in this market study
Conoco Phillips, Linde, Praxair Technology, Air Liquide, Shell Trading International Limited, Sirloong, Jinling Petrochemicals, Taiyo Nippon Sanso Corporation, Evonik and Sibur among others.
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Further key findings from the report suggest
Pure grade isobutane is forecasted to witness highest growth rate of 6.8% in the forecast period owing to the application of this grade of isobutane in alkylation process as well as in refrigeration systems. Technical grade isobutene is forecasted to reach USD 10.71 billion by 2028.
Isobutane does not have the harmful characteristics of Freon and other related compounds. Thus, it is extensively used in all types of refrigeration systems, extending from small home solutions to massive commercial freezers. Isobutane is denoted as R-600a when it is applied as propellants in aerosols or as refrigerants.
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Petrochemicals is projected to capture more the 60% of the market in the forecast year reaching USD 20.77 billion by 2028. This can be attributed to the very high use of isobutane as feedstock which are used in the formation of the suitable atmosphere for production of isooctane. Researches are being done on various capabilities of isobutane as a feedstock in improving the production of numerous other compounds.
Isobutane is one among the hydrocarbons which are liquefied under pressure and are used as fuel in the form of LPG.
Asia Pacific is estimated to capture the largest market share in the with a growth rate of 6.7% during the forecast period due to the presence of large number of refineries in the region, especially in countries like China, India, Japan and South Korea. The market in North America is projected to reach USD 7.17 billion by 2028.
For the purpose of this report, Reports and Data have segmented global isobutane market on the basis of type, grade, application and region:
Type Outlook (Volume, Million Barrels per Day; 2020-2028 and Revenue, USD Million; 2020-2028)
Grade Outlook (Volume, Million Barrels per Day; 2020-2028 and Revenue, USD Million; 2020-2028)
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Application Outlook (Volume, Million Barrels per Day; 2020-2028 and Revenue, USD Million; 2020-2028)
Regional Outlook (Volume, Million Barrels per Day; 2020-2028 and Revenue, USD Million; 2020-2028)
To Identify The Key Trends In The Industry, Research Study At https://www.reportsanddata.com/report-detail/isobutane-market
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