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Isobutene Industry with Future Market Projections for Forthcoming Years 2013 - 2019
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The primary driver for the isobutene market is the growing aerospace market as well as the growing demand for rubber from automotive market. Isobutene is the source of polyisobutene which is the precursor chemical for the production of fuel and lubricant additives. Isobutene is added to methanol to produce MTBE (Methyl Tert-Butyl Ether) and with ethanol to produce ETBE (Ethyl Tert-Butyl Ether) which are the main types of fuel additives in the market. Isobutene is added to isobutene to produce isooctane, which is a fuel additive used in the aviation fuel. It is extensively used in the manufacturing process of rubber used to produce tires and tubes for the automotive industry.
Apart from these the chemical is used to manufacture fine chemicals, plastics and anti-oxidants which account for a substantial market demand for isobutene. The growth of the end use markets is expected to drive the market for isobutene. Evonik Industries recently increased the production capacity by three times in their manufacturing facility at Antwerp, Belgium in anticipation of growing demand of the chemical globally and in order to establish themselves as a leading producer of isobutene in Europe.
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Although isobutene finds application in a range of end use industries, it is susceptible to price fluctuations from source. As it is a downstream derivative of crude oil, the price volatility of crude oil directly affects the isobutene market. Moreover isobutene is highly regulated chemical owing to its toxic properties and stringent measures need to be followed to prevent leakage in the atmosphere.
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