Isobutyl Benzene Market Latest Innovations, Drivers and Industry Status 2022 to 2028

Precision Business Insights published a research report on "Isobutyl Benzene Market: By Purity (1010.5% Pure and Above, 1010% Pure, 108% Pure and Less than 98% Pure), By Standard (Pharmaceutical Standard, Industrial Standard, Bio Standard and Others), By Application (Analgesic, Aromatic, Coating, Feedstock, Gene Silencing, Surfactant and Others), By End User (Bio-Technology, Chemical, Cosmetics, Oil and Gas, Pharmaceutical and Others) and Geography - Global/Region/Country Forecast to 2028"

Isobutyl benzene is a chemical molecule that is also utilised in the production of ibuprofen in the pharmaceutical industry. Isobutyl benzene is a colourless, flammable liquid that irritates the respiratory system. Isobutyl benzene is an organic, aromatic, colourless liquid that is also referred as 2-methyl-1 phenylpropene. Owing to the severe lockdown rules, the market for isobutyl benzene was impacted by the COVID-19 pandemic in 2020. Furthermore, only essential commodities were permitted, which had an impact on the manufacture of non-essential items such as cosmetics. As per the Cosmetics Toiletry and Perfumery Association (CTPA), global retail sales of cosmetics goods were US$10.5 billion in 2019 and US$9.5 billion in 2020, a drop of roughly 6.4 percent, and demand for isobutyl benzene was impacted as a result of this decline.

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The growth of the 2-methylpropylbenzene (isobutyl benzene) market is projected to be influenced by increased demand in the pharmaceuticals industry. Accordingly, over the forecast period of 2021 to 2028, the rapid rise in demand for isobutyl benzene, as well as an increase in demand for isobutyl benzene in the fragrances and perfumes industry, are expected to act as key determinants favouring the growth of the 2-methylpropylbenzene (isobutyl benzene) market.

The rise in demand from various end-use industries, as well as the ongoing expansion of manufacturing facilities, are projected to boost the 2-methylpropylbenzene (isobutyl benzene) market's growth. However, price variations are projected to serve as key restrictions on the growth rate of the 2-methylpropylbenzene (isobutyl benzene) market in the forecast period of 2021 to 2028, whilst the detrimental consequences of benzene exposure may pose a barrier to the market's expansion throughout the forecast period. Furthermore, throughout the forecast period, the rapid increase in R&D activities and severe government regulations are likely to provide a number of growth prospects for the 2-methylpropylbenzene (isobutyl benzene) market.
In terms of product type, the isobutyl benzene market is segregated into industrial grade and bio grade and pharmaceutical grade. On the basis end user, the isobutyl benzene market is categorized into coatings, pharmaceuticals, surfactants and others.

The Asia-Pacific region held the greatest position in the isobutyl benzene market in 2021, rising to 43 percent, owing to the region's growing pharmaceutical industry, which is driving up demand for isobutyl benzene. Governments around the Asia Pacific area are investing in the development of the pharmaceutical industry, which has resulted in an increase in pharmaceutical medication production. According to the Indian Brand Equity Foundation (IBEF), the Indian government would invest US$26.78 billion in the pharmaceutical sector in June 2021. Furthermore, the local Indian pharmaceutical market is expected to reach US$64 billion by 2024, accelerating demand for the isobutyl benzene business.

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There are several industry players working in the Isobutyl Benzene Market, which include Finetech Industry Ltd., IOL Chemicals and Pharmaceuticals Ltd., Merck Millipore Inc., Santa Cruz BioTechnology, SI Group Inc., Sigma-Aldrich Corp.

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