Isobutanol Market analysis,Size By Product Type, By Foam Type, By Application, By Geographic Scope And Forecast
Market Overview:
Isobutanol is a colorless liquid with
four carbon branched chain alcohol is commonly used as a raw material for
isobutyl methacrylate, isobutyl acetate, coating resins, isobutyl acrylate, and
paint thinners. Isobutanol is miscible with all common solvents such as
ketones, ethers, glycols, alcohols, aldehydes, and aliphatic and aromatic hydrocarbons.
It is broadly used as a diluent in cellulose nitrate lacquers and offers to
enhance their gloss, flow, and resistance to blushing. It is widely used in
numerous end-use industries such as oil & gas, paint & coatings,
chemicals, textiles, pharmaceutical, and others on account of their excellent
properties. Some of the important factors that positively influence the growth
of the isobutanol market are expanding building & construction industry,
continuous growth of woodworking industry, and rising demand for marine &
aerospace coatings. It is also used as flavoring agent in food industry hence
increasing processed foods industry in developing countries are predicted to
fuel isobutanol market over the assessment period. Moreover, growing population
along with rising construction projects in various economies has increased the
consumption of isobutanol based coatings, which is likely, to propel the growth
of the market over the assessment period, during 2017 to 2023. However,
fluctuating crude oil price affects the raw material prices of isobutanol,
which in turn, is estimated to hamper the growth of the market in the next few
years.
Market Segmentation
The global isobutanol market is divided on the basis of type, application,
end use industry, and region. On the basis of the type, isobutanol market is
bifurcated into bio-based and synthetic. Among them, bio-based type segment is
estimated to witness tremendous growth due to increasing environmental concern
along with the implementation of stringent regulations by various government
bodies regarding the VOC emission level. On the basis of the application, the
market is categorized into intermediate, solvent, solubilizer, extracting
agent, additive, and others. Among these, intermediate accounted for the
leading market share in 2016 and is estimated to retain its dominance over the
assessment period due to the continuous expansion of petrochemical industry
specifically in the Asia Pacific and the Middle East & Africa. On the basis
of the end-use industry, the market is further classified into pharmaceuticals,
oil & gas, paint & coatings, textiles, chemicals, and others. Among the
end use industry segment, oil & gas is predicted to register the highest
growth owing to increasing demand for high performance/clean fuel is expected
to propel the segment over the estimated period.
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Regional Analysis
The Asia Pacific is predicted to be
the largest market for isobutanol followed by Europe and North America on
account of rising demand from paints & coatings and oil & gas among
others. Various countries of the Asia Pacific such as Malaysia, China, India,
Thailand, and South Korea are the fastest growing market for isobutanol and is
estimated to grow with the same pace in the upcoming years. Europe is predicted
to witness moderate growth over the forecast period due to increasing demand
for food and paints & coatings sector. In North America, countries such as
U.S. and Canada are predicted to register moderate growth due to expanding
textile and oil & gas sector in this region. Emerging economies of the
Middle East & Africa such as Turkey, Qatar, the United Arab Emirates, and
Saudi Arabia are expected to register healthy growth due to increasing building
& construction sector in this region. Competitive analysis The major
players operating in the isobutanol market are BASF SE (Germany), Eastman
Chemical Company (U.S.), Gevo (U.S.), Butamax® Advanced Biofuels LLC (U.S.),
Sahara PCC (Saudi Arabia), The Dow Chemical Company (U.S.), Mitsubishi Chemical
Corporation (Japan), OXEA GmbH (Germany), INEOS (UK), SIBUR (Russia), Lesaffre
Advanced Fermentations (France) among others.
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