Press release
Global Isobutanol Market will grasp USD 1,085.00 Million By 2020
Isobutanol Market
Isobutanol is an organic compound with the formula (CH3)2CHCH2OH. It is a colorless, flammable liquid, and low boiling isomer of butanol with a characteristic smell is mainly used as a solvent. Isobutanol is produced by the carbonylation of propylene. Isobutanol is used as a raw material for isobutyl acrylate, coating resins, isobutyl acetate, and paint thinners. Isobutanol has offers a range of technical and industrial applications such as precursor of various isobutyl esters, chemical intermediate, solvents for paints & coating, production of pharmaceutical, oil and gas, automotive paint cleaner additive and building & construction industry. Isobutanol is very soluble in water and miscible with alcohols and ketones.
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Global isobutanol market is mainly driven by increasing demand from chemical intermediate and automobile industry. Further, rising building & construction industry, and increasing demand from paints and coatings industry is expected to boost the growth of the market Increasing pharmaceutical industry in developed and developing countries due to improving health standards is also acting as key driver for the market. However, crude oil cost and supply fluctuations are expected to hinder the isobutanol market growth.
On the basis of applications, isobutanol market has been classified into Paints and coating, automobiles, building & construction industry, pharmaceutical oil & gas, chemical intermediate and other. Chemical intermediate application segment dominated the market with 40% share of the total market in 2014. In addition, paints and coating and oil and gas industry is expected to become fastest growing applications of isobutanol during the forecast period.
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Geographically, global isobutanol market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America regions. Asia Pacific region was the major user of the Isobutanol in term of consumption. Increasing demand from automobiles, construction, and paints & coating industries is likely to boost the demand for isobutanol in the region during the years to come. Asia pacific was followed by Europe. Europe is anticipated to observer grow at moderate rate in the years to come. North America is also expected to grow at modest rate due to rapidly growing automobile and pharmaceutical industry.
Some of the major industry participants in global isobutanol market include BASF SE, Mitsubishi Chemical Corporation, Formosa Plastics Corp., The Dow Chemical Company, Oxea GmbH, Eastman Chemical Company, Sasol Ltd., Ineos Oxide Ltd. and Saudi Kayan Petrochemical Company.
Global Isobutanol Market: Application Segment Analysis
Paints And Coating
Automobiles
Building & Construction Industry
Pharmaceutical
Oil & Gas
Chemical Intermediate
Others
Global Isobutanol Market: Regional Segment Analysis
North America
U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
Middle East and Africa
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