The Global Isobutanol Market was valued at USD 0.9 billion in 2019 and estimated to reach a value of USD 1.56 billion by 2027, expanding with a CAGR of 6.4% during the forecast period. Isobutanol has a wide application as the raw material of different compounds and products owing to its unique properties such as medium volatility and limited miscibility. Thanks to such unique properties, the combination is likely to witness more demand from multiple industries, including oil & gas and agrochemicals, and biofuel. The widening range of applications across numerous industries is likely to boost the isobutanol market growth in the coming years.
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Application of isobutanol as a chemical medium for manufacturing isobutyl esters or isobutyl acetate is further encouraging its penetration in the industry. Isobutyl acetate is known as a flavouring agent in the food industry. The demand for isobutyl acetate is rising substantially from food industry, predominantly located in emerging economies such as Brazil, India, and China. Additionally, the products are recognized as a coating or corrosion resistant in the manufacturing industry. The manufacturing industries are widely present in the same countries; thus, the demand for isobutyl esters has increased substantially. This is one of the key factors fueling the growth of the isobutanol market.
In addition, rising environmental concerns about using ethanol have favoured the use of isobutanol, which is one of the primary drivers of market growth. The ecological concerns among people and government have encouraged investments to find eco-friendly alternatives that are likely to favour market growth. Numerous key players have invested in finding greener options such as bio-based isobutanol with the help of biotechnology corporations.
However, the factors such as a supply of alternative compounds, high costs and raw material supply, and strict government regulations are restraining the growth of the global isobutanol market. Nonetheless, the construction industry is increasingly using isobutanol as solvents and coatings. This factor is estimated to offer several opportunities in the coming future as the construction industry is growing globally.
Geographically, the global market is dominated by Asia Pacific in 2019 in terms of revenue and consumption is estimated to expand at a faster CAGR during the forecast period. This growth is majorly attributed to the rising demand for isobutanol from several end-use industries such as oil & gas, construction industries, petrochemicals, and food industries. Countries such as China and India contain few largest manufacturing industries of the world, which is favouring demand for isobutanol and boosting its market growth.
Europe held 26.26% of the overall business share and is assessed to poise a modest growth during the forecast period. Existence of significant petrochemical complexes and largest bio-refineries in European countries, including Germany, Belgium, Hungary, and Italy are likely to benefit the market growth in the coming future.
Key players in the Isobutanol Market include:
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Isobutanol Market: Segmentation
For the purpose of this report, Reports And Data has segmented the Global Isobutanol Market based on product, distribution channel, application, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
Regional Outlook (Revenue, USD Million; 2017-2027)
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