Isobutane Market worth US$ 42.3 Billion 2029 with a CAGR of 6.9 %

Isobutane, a hydrocarbon with the molecular formula C₄H₁₀, is a colorless and odorless gas that plays a significant role in various industrial applications and everyday life. Classified as a branched alkane, isobutane is a type of butane isomer distinguished by its specific molecular structure. It consists of four carbon atoms arranged in a branched chain, offering unique properties that make it valuable in different sectors.

One notable application of isobutane is as a refrigerant and propellant in aerosol products due to its low boiling point and non-toxic nature. Additionally, isobutane is widely utilized in the petrochemical industry for the production of high-octane gasoline through alkylation processes. Its versatility extends to its use as a fuel component, finding application in camping stoves and portable gas burners.

𝗧𝗼 𝗮𝗰𝗰𝗲𝘀𝘀 𝘁𝗵𝗲 𝗳𝘂𝗹𝗹 𝗺𝗮𝗿𝗸𝗲𝘁 𝗿𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗿𝗲𝗽𝗼𝗿𝘁, 𝗰𝗹𝗶𝗰𝗸 𝗵𝗲𝗿𝗲:
https://www.prophecymarketinsights.com/market_insight/Global-Isobutane-Market-By-Type-482

Key Market Insights from the report:

The global isobutane market accounted for US$ 23.2 billion in 2020 and is projected to register CAGR of 6.9 % over the forecast period. The market report has been segmented on the basis of type, application, and region.

By type, purity 99.7% is segment accounted for major revenue share in 2018, owing to its excellent properties such as high purity and low contamination over other gases.
By application, the refrigeration systems segment is accounted for major revenue share in 2018 due to nature friendly and excellent refrigerant minus the ozone harming properties.
By region, Asia Pacific isobutane market accounted for major revenue share of the global isobutane market and is further anticipated to maintain its dominance over the forecast period, owing to presence of well established isobutane industries in the countries such as India and China in the region. The market in North America is expected to account for second-highest revenue share in 2019.

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The prominent player operating in the global isobutane market includes SINOPEC ZHONGYUAN PETROLEUM CO. Ltd., Jinling Petrochemical Company Ltd., Heze Sirloong Chemical Co,. Ltd, Praxair, Inc., Chevron Phillips Chemical company, Linda Aktiengesellschaft, Shell Trading International Limited, ConocoPhillips Company, Air Liquide International S.A., and Taiyo Nippon Sanso Corporation.

Isobutane market trends:

Growing Demand in Refrigeration and Air Conditioning:
Isobutane has gained popularity as a refrigerant due to its low environmental impact compared to traditional refrigerants. The increasing global emphasis on environmentally friendly alternatives has led to a growing demand for isobutane in refrigeration and air conditioning systems.

Alkylation Process in Petroleum Industry:
Isobutane is a crucial component in the alkylation process used to produce high-octane gasoline. With the demand for cleaner and more efficient fuels, the use of isobutane in this process has seen continued relevance.

Consumer Products and LPG:
Isobutane is commonly used in consumer products such as aerosol propellants and camping gas. The demand for these products, especially in the context of outdoor and recreational activities, has contributed to the steady consumption of isobutane.

Regulatory Changes and Environmental Concerns:
Ongoing global efforts to reduce the environmental impact of various industries have led to changes in regulations. As a result, there is a trend toward the adoption of hydrocarbons like isobutane as alternatives to substances with higher global warming potential.

Supply and Pricing Dynamics:
The availability and pricing of isobutane are influenced by factors such as natural gas processing, refinery production, and global market trends. Shifts in these dynamics can impact the supply and cost of isobutane.

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https://www.prophecymarketinsights.com/market_insight/Plastic-Additives-market-4883
https://www.prophecymarketinsights.com/market_insight/Global-Formulation-Additives-Market-4834

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