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Isobutane Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

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    Report

  • 250 Pages
  • February 2024
  • Region: Global
  • Fairfield Market Research
  • ID: 5938833
Description Jump to:
Isobutane Market Set for Robust Growth: New Report Highlights Demand Drivers and Regional Trends

The global isobutane market is poised for substantial expansion, according to a newly released report covering the period 2024-2031. The report, which provides comprehensive insights into market trends and forecasts, reveals that global sales of isobutane are expected to reach US$ 18 billion in 2024, the market is projected to exhibit a compound annual growth rate (CAGR) of 9.0%, reaching a value of US$ 32 billion by 2031.

Driving Forces Behind Isobutane Market Growth

The report identifies several key factors driving the demand for isobutane globally:

  • Growth of Petrochemical Sector: The petrochemical sector's expansion, driven by increasing demand for downstream products across industries such as construction, pharmaceuticals, and automotive, is a major driver for isobutane demand. Isobutane is crucial for the production of various end-use products like lubricants, fuels, rubbers, and additives.
  • Trend Towards Environment-friendly Products: With a focus on sustainability, many industries are shifting towards environmentally friendly alternatives. Isobutane's low global warming potential and minimal ozone depletion potential make it an attractive option for replacing traditional refrigerants and propellants in various applications, including cosmetics and household cleaners.

Challenges to Market Growth

Despite the promising outlook, certain challenges could hinder the growth of the isobutane market:

  • Safety Concerns: Isobutane's highly inflammable nature poses safety risks, particularly in applications such as refrigeration for domestic and commercial purposes. Strict regulations and safety precautions may limit its adoption in certain industries.
  • Price Fluctuations and Regulatory Hurdles: High volatility in natural gas prices and stringent government regulations could impact the demand for isobutane in the coming years, posing challenges for manufacturers and suppliers.

Regional Analysis: Focus on China and India

China and India emerge as key markets for isobutane, driven by robust industrial growth and increasing demand across various sectors. China is expected to provide an incremental opportunity of US$ 4.3 billion during the forecast period, while India's isobutane market is projected to grow at a rate of 8.4%.

Category-wise Insights: Purity and Applications

The report highlights the dominance of 99.5% purity isobutane due to its superior energy efficiency and suitability for refrigeration and alkylation processes. Refineries constitute a major end-user segment, with significant growth anticipated in the coming years, driven by the increasing use of isobutane in petrochemical refineries.

Competitive Analysis and Future Prospects

Key players in the isobutane market are focusing on increasing production capacities and expanding their consumer base through strategic acquisitions and investments in research and development. With rising demand for isobutane across diverse industries, manufacturers are poised to capitalize on emerging opportunities and drive market growth in the coming years.

Some Key companies in the market are:

  • PBF Energy
  • Sinopec
  • Linde LLC.
  • Valero Energy Corp., Ltd.
  • ConocoPhillips
  • Airliquide
  • Evonik Industries
  • Chevron Phillips Chemical
  • Amcor
  • Matheson
  • Shandong Yuean Chemical
  • Aditya Air Products
  • Verni Gas Corporation
  • Bhuruka Gases Limited

Key Segments Covered in Isobutane Market Research

Isobutane Market by Purity:

  • 99%
  • 99.5%
  • 95%
  • Others

Isobutane Market by Source:

  • Bio-based Isobutane
  • Synthetic Isobutane

Isobutane Market by Application:

  • Refineries
  • Refrigerant
  • Propellants
  • Feed Stock (Plastics)
  • Solvents
  • Others

Isobutane Market by Region:

  • North America Isobutane Market
  • Latin America Isobutane Market
  • Europe Isobutane Market
  • East Asia Isobutane Market
  • South Asia & Pacific Isobutane Market
  • Middle East & Africa Isobutane Market

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Table of Contents

1. Executive Summary
1.1. Global Isobutane Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2023
1.5. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Restraints
2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. COVID-19 Impact Analysis
2.5.1. Supply
2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
2.7.1. World Economic Projections
2.8. PESTLE Analysis
3. Production Output and Trade Statistics, 2018-2023
3.1. Global Isobutane, Production Output, by Region, 2018 - 2023
3.1.1. North America
3.1.2. Europe
3.1.3. Asia Pacific
3.1.4. Latin America
3.1.5. Middle East & Africa
4. Global Isobutane Market Outlook, 2018 - 2031
4.1. Global Isobutane Market Outlook, by Purity, Volume (Tons) and Value (US$ Bn), 2018 - 2031
4.1.1. Key Highlights
4.1.1.1. 99%
4.1.1.2. 99.5%
4.1.1.3. 95%
4.1.1.4. Others
4.2. Global Isobutane Market Outlook, by Source, Volume (Tons) and Value (US$ Bn), 2018 - 2031
4.2.1. Key Highlights
4.2.1.1. Bio-based Isobutane
4.2.1.2. Synthetic Isobutane
4.3. Global Isobutane Market Outlook, by Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
4.3.1. Key Highlights
4.3.1.1. Refineries
4.3.1.2. Refrigerant
4.3.1.3. Propellants
4.3.1.4. Feed Stock (Plastics)
4.3.1.5. Solvents
4.3.1.6. Others
4.4. Global Isobutane Market Outlook, by Region, Volume (Tons) and Value (US$ Bn), 2018 - 2031
4.4.1. Key Highlights
4.4.1.1. North America
4.4.1.2. Europe
4.4.1.3. Asia Pacific
4.4.1.4. Latin America
4.4.1.5. Middle East & Africa
5. North America Isobutane Market Outlook, 2018 - 2031
5.1. North America Isobutane Market Outlook, by Purity, Volume (Tons) and Value (US$ Bn), 2018 - 2031
5.1.1. Key Highlights
5.1.1.1. 99%
5.1.1.2. 99.5%
5.1.1.3. 95%
5.1.1.4. Others
5.2. North America Isobutane Market Outlook, by Source, Volume (Tons) and Value (US$ Bn), 2018 - 2031
5.2.1. Key Highlights
5.2.1.1. Bio-based Isobutane
5.2.1.2. Synthetic Isobutane
5.3. North America Isobutane Market Outlook, by Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
5.3.1. Key Highlights
5.3.1.1. Refineries
5.3.1.2. Refrigerant
5.3.1.3. Propellants
5.3.1.4. Feed Stock (Plastics)
5.3.1.5. Solvents
5.3.1.6. Others
5.3.2. BPS Analysis/Market Attractiveness Analysis
5.4. North America Isobutane Market Outlook, by Country, Volume (Tons) and Value (US$ Bn), 2018 - 2031
5.4.1. Key Highlights
5.4.1.1. U.S. Isobutane Market by Purity, Volume (Tons) and Value (US$ Bn), 2018 - 2031
5.4.1.2. U.S. Isobutane Market Source, Volume (Tons) and Value (US$ Bn), 2018 - 2031
5.4.1.3. U.S. Isobutane Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
5.4.1.4. Canada Isobutane Market by Purity, Volume (Tons) and Value (US$ Bn), 2018 - 2031
5.4.1.5. Canada Isobutane Market Source, Volume (Tons) and Value (US$ Bn), 2018 - 2031
5.4.1.6. Canada Isobutane Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
5.4.2. BPS Analysis/Market Attractiveness Analysis
6. Europe Isobutane Market Outlook, 2018 - 2031
6.1. Europe Isobutane Market Outlook, by Purity, Volume (Tons) and Value (US$ Bn), 2018 - 2031
6.1.1. Key Highlights
6.1.1.1. 99%
6.1.1.2. 99.5%
6.1.1.3. 95%
6.1.1.4. Others
6.2. Europe Isobutane Market Outlook, by Source, Volume (Tons) and Value (US$ Bn), 2018 - 2031
6.2.1. Key Highlights
6.2.1.1. Bio-based Isobutane
6.2.1.2. Synthetic Isobutane
6.3. Europe Isobutane Market Outlook, by Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
6.3.1. Key Highlights
6.3.1.1. Refineries
6.3.1.2. Refrigerant
6.3.1.3. Propellants
6.3.1.4. Feed Stock (Plastics)
6.3.1.5. Solvents
6.3.1.6. Others
6.3.2. BPS Analysis/Market Attractiveness Analysis
6.4. Europe Isobutane Market Outlook, by Country, Volume (Tons) and Value (US$ Bn), 2018 - 2031
6.4.1. Key Highlights
6.4.1.1. Germany Isobutane Market by Purity, Volume (Tons) and Value (US$ Bn), 2018 - 2031
6.4.1.2. Germany Isobutane Market Source, Volume (Tons) and Value (US$ Bn), 2018 - 2031
6.4.1.3. Germany Isobutane Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
6.4.1.4. U.K. Isobutane Market by Purity, Volume (Tons) and Value (US$ Bn), 2018 - 2031
6.4.1.5. U.K. Isobutane Market Source, Volume (Tons) and Value (US$ Bn), 2018 - 2031
6.4.1.6. U.K. Isobutane Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
6.4.1.7. France Isobutane Market by Purity, Volume (Tons) and Value (US$ Bn), 2018 - 2031
6.4.1.8. France Isobutane Market Source, Volume (Tons) and Value (US$ Bn), 2018 - 2031
6.4.1.9. France Isobutane Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
6.4.1.10. Italy Isobutane Market by Purity, Volume (Tons) and Value (US$ Bn), 2018 - 2031
6.4.1.11. Italy Isobutane Market Source, Volume (Tons) and Value (US$ Bn), 2018 - 2031
6.4.1.12. Italy Isobutane Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
6.4.1.13. Turkey Isobutane Market by Purity, Volume (Tons) and Value (US$ Bn), 2018 - 2031
6.4.1.14. Turkey Isobutane Market Source, Volume (Tons) and Value (US$ Bn), 2018 - 2031
6.4.1.15. Turkey Isobutane Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
6.4.1.16. Russia Isobutane Market by Purity, Volume (Tons) and Value (US$ Bn), 2018 - 2031
6.4.1.17. Russia Isobutane Market Source, Volume (Tons) and Value (US$ Bn), 2018 - 2031
6.4.1.18. Russia Isobutane Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
6.4.1.19. Rest of Europe Isobutane Market by Purity, Volume (Tons) and Value (US$ Bn), 2018 - 2031
6.4.1.20. Rest of Europe Isobutane Market Source, Volume (Tons) and Value (US$ Bn), 2018 - 2031
6.4.1.21. Rest of Europe Isobutane Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
6.4.2. BPS Analysis/Market Attractiveness Analysis
7. Asia Pacific Isobutane Market Outlook, 2018 - 2031
7.1. Asia Pacific Isobutane Market Outlook, by Purity, Volume (Tons) and Value (US$ Bn), 2018 - 2031
7.1.1. Key Highlights
7.1.1.1. 99%
7.1.1.2. 99.5%
7.1.1.3. 95%
7.1.1.4. Others
7.2. Asia Pacific Isobutane Market Outlook, by Source, Volume (Tons) and Value (US$ Bn), 2018 - 2031
7.2.1. Key Highlights
7.2.1.1. Bio-based Isobutane
7.2.1.2. Synthetic Isobutane
7.3. Asia Pacific Isobutane Market Outlook, by Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
7.3.1. Key Highlights
7.3.1.1. Refineries
7.3.1.2. Refrigerant
7.3.1.3. Propellants
7.3.1.4. Feed Stock (Plastics)
7.3.1.5. Solvents
7.3.1.6. Others
7.3.2. BPS Analysis/Market Attractiveness Analysis
7.4. Asia Pacific Isobutane Market Outlook, by Country, Volume (Tons) and Value (US$ Bn), 2018 - 2031
7.4.1. Key Highlights
7.4.1.1. China Isobutane Market by Purity, Volume (Tons) and Value (US$ Bn), 2018 - 2031
7.4.1.2. China Isobutane Market Source, Volume (Tons) and Value (US$ Bn), 2018 - 2031
7.4.1.3. China Isobutane Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
7.4.1.4. Japan Isobutane Market by Purity, Volume (Tons) and Value (US$ Bn), 2018 - 2031
7.4.1.5. Japan Isobutane Market Source, Volume (Tons) and Value (US$ Bn), 2018 - 2031
7.4.1.6. Japan Isobutane Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
7.4.1.7. South Korea Isobutane Market by Purity, Volume (Tons) and Value (US$ Bn), 2018 - 2031
7.4.1.8. South Korea Isobutane Market Source, Volume (Tons) and Value (US$ Bn), 2018 - 2031
7.4.1.9. South Korea Isobutane Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
7.4.1.10. India Isobutane Market by Purity, Volume (Tons) and Value (US$ Bn), 2018 - 2031
7.4.1.11. India Isobutane Market Source, Volume (Tons) and Value (US$ Bn), 2018 - 2031
7.4.1.12. India Isobutane Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
7.4.1.13. Southeast Asia Isobutane Market by Purity, Volume (Tons) and Value (US$ Bn), 2018 - 2031
7.4.1.14. Southeast Asia Isobutane Market Source, Volume (Tons) and Value (US$ Bn), 2018 - 2031
7.4.1.15. Southeast Asia Isobutane Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
7.4.1.16. Rest of Asia Pacific Isobutane Market by Purity, Volume (Tons) and Value (US$ Bn), 2018 - 2031
7.4.1.17. Rest of Asia Pacific Isobutane Market Source, Volume (Tons) and Value (US$ Bn), 2018 - 2031
7.4.1.18. Rest of Asia Pacific Isobutane Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
7.4.2. BPS Analysis/Market Attractiveness Analysis
8. Latin America Isobutane Market Outlook, 2018 - 2031
8.1. Latin America Isobutane Market Outlook, by Purity, Volume (Tons) and Value (US$ Bn), 2018 - 2031
8.1.1. Key Highlights
8.1.1.1. 99%
8.1.1.2. 99.5%
8.1.1.3. 95%
8.1.1.4. Others
8.2. Latin America Isobutane Market Outlook, by Source, Volume (Tons) and Value (US$ Bn), 2018 - 2031
8.2.1.1. Bio-based Isobutane
8.2.1.2. Synthetic Isobutane
8.3. Latin America Isobutane Market Outlook, by Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
8.3.1. Key Highlights
8.3.1.1. Refineries
8.3.1.2. Refrigerant
8.3.1.3. Propellants
8.3.1.4. Feed Stock (Plastics)
8.3.1.5. Solvents
8.3.1.6. Others
8.3.2. BPS Analysis/Market Attractiveness Analysis
8.4. Latin America Isobutane Market Outlook, by Country, Volume (Tons) and Value (US$ Bn), 2018 - 2031
8.4.1. Key Highlights
8.4.1.1. Brazil Isobutane Market by Purity, Volume (Tons) and Value (US$ Bn), 2018 - 2031
8.4.1.2. Brazil Isobutane Market Source, Volume (Tons) and Value (US$ Bn), 2018 - 2031
8.4.1.3. Brazil Isobutane Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
8.4.1.4. Mexico Isobutane Market by Purity, Volume (Tons) and Value (US$ Bn), 2018 - 2031
8.4.1.5. Mexico Isobutane Market Source, Volume (Tons) and Value (US$ Bn), 2018 - 2031
8.4.1.6. Mexico Isobutane Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
8.4.1.7. Argentina Isobutane Market by Purity, Volume (Tons) and Value (US$ Bn), 2018 - 2031
8.4.1.8. Argentina Isobutane Market Source, Volume (Tons) and Value (US$ Bn), 2018 - 2031
8.4.1.9. Argentina Isobutane Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
8.4.1.10. Rest of Latin America Isobutane Market by Purity, Volume (Tons) and Value (US$ Bn), 2018 - 2031
8.4.1.11. Rest of Latin America Isobutane Market Source, Volume (Tons) and Value (US$ Bn), 2018 - 2031
8.4.1.12. Rest of Latin America Isobutane Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
8.4.2. BPS Analysis/Market Attractiveness Analysis
9. Middle East & Africa Isobutane Market Outlook, 2018 - 2031
9.1. Middle East & Africa Isobutane Market Outlook, by Purity, Volume (Tons) and Value (US$ Bn), 2018 - 2031
9.1.1. Key Highlights
9.1.1.1. 99%
9.1.1.2. 99.5%
9.1.1.3. 95%
9.1.1.4. Others
9.2. Middle East & Africa Isobutane Market Outlook, by Source, Volume (Tons) and Value (US$ Bn), 2018 - 2031
9.2.1. Key Highlights
9.2.1.1. Bio-based Isobutane
9.2.1.2. Synthetic Isobutane
9.3. Middle East & Africa Isobutane Market Outlook, by Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
9.3.1. Key Highlights
9.3.1.1. Refineries
9.3.1.2. Refrigerant
9.3.1.3. Propellants
9.3.1.4. Feed Stock (Plastics)
9.3.1.5. Solvents
9.3.1.6. Others
9.3.2. BPS Analysis/Market Attractiveness Analysis
9.4. Middle East & Africa Isobutane Market Outlook, by Country, Volume (Tons) and Value (US$ Bn), 2018 - 2031
9.4.1. Key Highlights
9.4.1.1. GCC Isobutane Market by Purity, Volume (Tons) and Value (US$ Bn), 2018 - 2031
9.4.1.2. GCC Isobutane Market Source, Volume (Tons) and Value (US$ Bn), 2018 - 2031
9.4.1.3. GCC Isobutane Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
9.4.1.4. South Africa Isobutane Market by Purity, Volume (Tons) and Value (US$ Bn), 2018 - 2031
9.4.1.5. South Africa Isobutane Market Source, Volume (Tons) and Value (US$ Bn), 2018 - 2031
9.4.1.6. South Africa Isobutane Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
9.4.1.7. Egypt Isobutane Market by Purity, Volume (Tons) and Value (US$ Bn), 2018 - 2031
9.4.1.8. Egypt Isobutane Market Source, Volume (Tons) and Value (US$ Bn), 2018 - 2031
9.4.1.9. Egypt Isobutane Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
9.4.1.10. Nigeria Isobutane Market by Purity, Volume (Tons) and Value (US$ Bn), 2018 - 2031
9.4.1.11. Nigeria Isobutane Market Source, Volume (Tons) and Value (US$ Bn), 2018 - 2031
9.4.1.12. Nigeria Isobutane Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
9.4.1.13. Rest of Middle East & Africa Isobutane Market by Purity, Volume (Tons) and Value (US$ Bn), 2018 - 2031
9.4.1.14. Rest of Middle East & Africa Isobutane Market Source, Volume (Tons) and Value (US$ Bn), 2018 - 2031
9.4.1.15. Rest of Middle East & Africa Isobutane Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
9.4.2. BPS Analysis/Market Attractiveness Analysis
10. Competitive Landscape
10.1. Application vs Source Heatmap
10.2. Manufacturer vs Source Heatmap
10.3. Company Market Share Analysis, 2022
10.4. Competitive Dashboard
10.5. Company Profiles
10.5.1. PBF Energy
10.5.1.1. Company Overview
10.5.1.2. Product Portfolio
10.5.1.3. Financial Overview
10.5.1.4. Business Strategies and Development
10.5.2. Sinopec
10.5.3. Linde LLC.
10.5.4. Valero Energy Corp., Ltd.
10.5.5. ConocoPhillips
10.5.6. Airliquide
10.5.7. Evonik Industries
10.5.8. Chevron Phillips Chemical
10.5.9. Amcor
10.5.10. Matheson
10.5.11. Shandong Yuean Chemical
10.5.12. Aditya Air Products
10.5.13. Verni Gas Corporation
10.5.14. Bhuruka Gases Limited
11. Appendix
11.1. Research Methodology
11.2. Report Assumptions
11.3. Acronyms and Abbreviations

Companies Mentioned

  • PBF Energy
  • Sinopec Zhongyuan Petroleum Co.
  • Linde LLC
  • Valero Energy Corp., Ltd.
  • ConocoPhillips
  • Airliquide
  • Evonik Industries
  • Aditya Air Products
  • Verni Gas Corporation
  • Chevron Phillips Chemical
  • Bhuruka Gases Limited
  • Amcor
  • Shandong Yuean Chemical
  • Matheson

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