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High Purity Isobutylene Market Analysis and Segment Forecasts To 2028

High Purity Isobutylene Market Overview

Global High Purity Isobutylene Market was valued at USD 7.74 Billion in 2021 and is expected to reach USD 12.77 Billion by the year 2028, at a CAGR of 7.41%.

High Purity Isobutylene (HPIB) is a substance created by dehydrating tert-butanol that contains an olefinic hydrocarbon. HPIB or isobutylene is used in the creation and manufacturing of a variety of synthetic chemical products. Additionally, it is employed in the creation of high-reactivity polyisobutylene, butyl rubber, TBAC solvents, and alkylated phenols, which are used as antioxidants. The market for high purity isobutylene is being driven by factors including strong chemical and mechanical qualities and an increase in applications in the automotive sector. Market expansion may be hampered by the derivatives’ toxic effects.

According to the researcher, the market for high purity isobutylene is expanding as a result of rising demands from the automobile industry. The majority of the market’s expansion can be attributed to the need for gasoline additives in regions including Asia-Pacific, Latin America, the Middle East, and Africa. Other end-user applications include the manufacture of rubber.

High Purity Isobutylene (HPIB) market size is anticipated to reach USD 11866.26 million by the end of 2027. The market for high purity isobutylene is anticipated to grow during the projected period as a result of the segment’s rising use and high popularity for the MTBE decomposition process. Growing criticism because of production’s environmental violations and risks.

The High Purity Isobutylene (HPIB) market is segmented by Method (C4 fraction separation, MTBE decomposition method, Isobutane Dehydrogenation and Others), by Application (Butyl Rubber, Polyisobutylene, Tert-Butylphenol Series Product, Trimethyl acetic Acid, Methyl-Ally-Chloride and Others), by Grade (Polymer Grade and Chemical Grade). High Purity Isobutylene market is further analysed on the basis of regional analysis and divided into major regions like North America, Latin America, Asia-Pacific, Europe and MEA.

Read More: https://introspectivemarketresearch.com/reports/high-purity-isobutylene-market/

Market Segmentation

High Purity Isobutylene Market Research report comprises of Porter’s five forces analysis to do the detail study about its each segmentation like Product segmentation, End user/application segment analysis and Major key players analysis mentioned as below;

Players Covered in High Purity Isobutylene Market are:

  • Lyondell Basell
  • ExxonMobil Chemical
  • NKNK
  • Sumitomo Chemical
  • Evonik
  • Honeywell
  • Songwon
  • TASCO
  • Beijing Yanshan Petrochemical
  • TPC Group
  • Jinzhou Petrochemical
  • Zhejiang Shunda New Material
  • Shangdong Chambroad Petrochemical and other major players.

Among other players domestic and global, High Purity Isobutylene market share data is available for global, North America, Europe, Asia-Pacific, Middle East and Africa and South America separately. Our analysts understand competitive strengths and provide competitive analysis for each competitor separately.

Salient Features of the High Purity Isobutylene (HPIB) Market

The approximate expected value for the High Purity Isobutylene (HPIB) was USD 6715.74 million in 2019, and it is expected to reach USD 11024.57 million by 2026.

  • North America region dominated the market in the year 2019 while Europe held the second-largest market due to the presence of industry giants in the region and high technological advancement.
  • By the segment Grade, Polymer Grade holds the largest market share and is expected to be the fastest-growing segment that will boost the high purity isobutylene market.
  • Due to the increasing usage in automotive industry and the high usage in the chemical & cosmetics is propelling the market growth.
  • Asia-Pacific is expected to be the fastest-growing region for the HPIB market due to China leading the segment for being the dominant region in the leading crude oil producers.

Global High Purity Isobutylene Market

Base Year: 2021 Forecast Period: 2022-2028
Historical Data : 2016 to 2020 Market Size in 2021: USD 7.74 Bn.
Forecast Period 2022-28 CAGR: 7.41% Market Size in 2028: USD 12.77 Bn.
Segments Covered: By Type
  • MTBE Decomposition Method
  • C4 Fraction Separation Method
  • Isobutane Dehydrogenation Method
  • Others
By Application
  • Butyl Rubber
  • Polyisobutylene
  • Others
By Region
  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
  • South America (Brazil, Argentina, Rest of SA)
Key Market Drivers:
  • High Demand for Alkylated Phenols
Key Market Restraints:
  • Growing Criticism Due to the Environmental Hazards and Violation from the Production
Key Opportunities:
  • High Applications in the Automotive Industry
Companies Covered in the report:
  • Lyondell Basell (Netherlands), ExxonMobil Chemical (US), NKNK (Russia), Sumitomo Chemical (Japan), Evonik (Germany), Honeywell (US), and Other Major Players

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