Bio-Isobutene Market to be Dominated by Automobile sector through 2028
Growing demand
from various end-user industries is expected to drive the Bio-Isobutene market in
the forecast period 2024-2028
According to TechSci Research report, “Bio-Isobutene Market - Global Industry Size,
Share, Trends, Opportunity, and Forecast, 2018-2028”, The global bio-isobutene
market is anticipated to upsurge at an impressive rate in the forecast period
2024-2028, on account of an increase in the price of raw materials,
modifications to the fuel standards, and an increase in the demand for
liquefied petroleum gas (LPG) and natural gas due to government policies favoring
cleaner and alternative fuels. The market growth is supported by the increasing
use of bio-based fuels, the rising need for bio-isobutene production, and the
demand for high-quality gasoline due to stringent carbon emission laws.
Furthermore, the market is being further
stimulated by the extensive use of Bio-Isobutene in plastic, pharmaceuticals, and
antioxidants.
However, lack of technical knowledge
related to manufacturing and handling of bio-isobutene can slow down the market
growth in the coming years. Similarly, bio-isobutene requires highly skilled
labor, the shortage of skilled labor especially in the emerging economies is
expected to restrict the market growth through 2028.
Browse over XX market
data Figures spread through XX Pages and an in-depth TOC on the "Global Bio-Isobutene Market"
The Global Bio-Isobutene
Market is segmented based on products, application, end use, and region.
Based on products, the market
is categorized into straw-derived bio-isobutene, sugar beet
bio-isobutene, cane-derived bio-isobutene, and others. Straw-Derived
Bio-isobutene is expected to hold the largest market share in the forecast
period, 2024-2028. Straw-Derived Bio-isobutene is produced and used in the
personal care products and health care sector and can bring about the complete
replacement of petroleum-based substances.
Based
on application, the market is fragmented into fuel,
butyl rubber, bio-based cosmetic ingredients, lubricant additives, and others. The fuel segment is expected to
register the highest growth during the forecast period. Increasing focus on
having alternative fuel with low carbon emission has significantly increased
the demand for bio-isobutene.
Based
on end use, the market is segmented into automobile, aerospace, pharmaceuticals, and others. The aerospace segment is expected to
register the highest growth during the forecast period. This can be attributed
to the growing demand for bio-isobutene for producing aviation fuel to be used
in aerospace industry. The generation of aviation fuel from biomass-based raw
materials has low carbon footprints, and a highly flammable tendency, thereby
supporting the growth of global bio-isobutene market.
Major companies operating
in the global Bio-Isobutene market are:
- Global Bioenergies SA
- Clariant AG
- Gevo Inc.
- Butagaz
- Butamax Advanced
Biofuels, LLC.
- Dow Chemical Co. Ltd.
- BASF SE
- Songwon Industrial Co.
Ltd.
- Ineos Group Ltd.
- Exxon Mobil Corp.
Various
companies operating in the market are following strategies such as mergers
& acquisitions, new product launches, increasing production capacities,
coming up with new capacities, among others in order to stay competitive and
have an edge over the other players operating in the market.
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“Given its favorable
regulatory environments, accessibility to raw materials, highly competitive
business environment, and capacity for innovation & technology, Europe is
expected to dominate the global market for bio-isobutene in the next years. The
global bio-isobutene market is anticipated to increase due to the continuous usage
in the plastic, automobile, rubber industries.
Along with organizational activity, increased
R&D expenditure, and other factors, government limits on trade and export
are significant industrial drivers. The primary driver of market expansion
through the year 2028 is the rising demand for medicines, fuels, solvents, and
lubricants.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“Bio-Isobutene Market-
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Products (Straw-Derived Bio-Isobutene, Sugar
Beet Bio-Isobutene, Cane-Derived Bio-Isobutene, Others), By Application (Fuel, Butyl Rubber, Bio-Based
Cosmetic Ingredients, Lubricant Additives, Others), By End-Use (Automobile,
Aerospace, Pharmaceuticals, Others), By Region and Competition,
has evaluated the future growth potential of global bio-isobutene market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision-makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the global bio-isobutene market.”
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