Isooctane Market projected to be over US$ 517 Bn By 2023

MarketResearch.biz announces publication of its most recently generated research report titled, “Global Isooctane Market”, which offers a holistic view of the global isooctane market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2019–2023) is projected to be over US$ 517 Bn, which is expected to increase considerably over the latter part of the five-year forecast period.

Global Isooctane Market: Introduction

Isooctane is used as anti-knocking agent in fuel additives to boost the octane rating of gasoline and prevents engines from ‘knocking’ and also to improve gasoline efficiency.

Global Isooctane Market: Market Dynamics

Growing demand for isooctane as an anti-knock additive, owing to enhanced quality and effectiveness is a major factor driving growth of the global isooctane market. Gasoline is combined with other compounds before usage. Fuel is combined with additives such as isooctane and aromatic hydrocarbons, and this helps to increase octane rating and prevents knocking in engines.

Methyl tert-butyl ether, also known as MTBE, is responsible for groundwater and soil contamination, and preference for isooctane as an alternative is a major factor fueling growth of the global isooctane market.

Growing production of isooctane from renewable sources is another factor fueling growth of the target market. Additionally, increasing investment in research and development activities to derive isooctane from renewable sources such as mineral oil, as well as to reduce harmful emissions is also supporting growth of the global market.

However, shifting trend towards development, production, and use of electric vehicles is a major factor that could impact market growth over the next few years.

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Global Isooctane Market: Market Forecast

The comprehensive research report comprises a complete forecast of the global isooctane market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global isooctane market is expected to expand at a moderate CAGR of 2.1% during the forecast period.

Global Isooctane Market: Segmental Snapshot

The market report has been segmented on the basis of product type, application, and region/country. The product type segment includes gasoline blending, organic synthesis, and others. By application segment includes organic solvent, diluent, and others. The regions/countries covered in the analysis are North America, Europe, China, Japan, Middle East & Africa, India, South America, and Rest of the World.

By Product Type: The gasoline blending segment is expected to register highest CAGR of over 2% in terms of revenue over the forecast period

By Application: The diluent segment is expected to account for major share in terms of revenue in the global market and is expected to register highest CAGR of over 2% over the forecast period

By Region/Country: The market in China is projected to register highest CAGR of over 2.5% in the global isooctane market

Browse Complete Report’s Press Release Here: https://marketresearch.biz/news/isooctane-market/

Global Isooctane Market: Competitive Analysis

The research report on the global Isooctane market includes profiles of some of major companies such as Exxon Mobil Corporation, Royal Dutch Shell plc, British Petroleum Company PLC (BP plc.), DowDuPont Inc., Petróleos de Venezuela, S.A, Petróleo Brasileiro S.A., Valero Energy Corporation, Chevron Corporation, Kuwait National Petroleum Company (KNPC), Eni S.p.A., National Iranian Oil Company, and JTF International Holdings Ltd.

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This release was published on openPR.