2-Methylpropene

2-Methylpropene

Global 2-Methylpropene Market to Reach US$63.5 Billion by 2030

The global market for 2-Methylpropene estimated at US$42.1 Billion in the year 2023, is expected to reach US$63.5 Billion by 2030, growing at a CAGR of 6.0% over the analysis period 2023-2030. Butyl Rubber, one of the segments analyzed in the report, is expected to record a 6.5% CAGR and reach US$4.7 Billion by the end of the analysis period. Growth in the Poly isobutylene segment is estimated at 6.1% CAGR over the analysis period.

The U.S. Market is Estimated at US$11.1 Billion While China is Forecast to Grow at 9.4% CAGR

The 2-Methylpropene market in the U.S. is estimated at US$11.1 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$15.1 Billion by the year 2030 trailing a CAGR of 9.4% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.9% and 5.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.6% CAGR.

Global 2-Methylpropene Market – Key Trends & Drivers Summarized

Why Is 2-Methylpropene Critical for the Chemicals and Plastics Industries?

2-Methylpropene, also known as isobutylene, is a highly valuable hydrocarbon used as a feedstock in the production of several key chemicals and polymers. It is integral to the production of polyisobutylene (PIB), butyl rubber, and methyl tert-butyl ether (MTBE), all of which are critical materials in industries such as automotive, construction, and fuel production. Butyl rubber, in particular, is prized for its excellent impermeability, making it ideal for manufacturing tires, medical stoppers, and sealants. The growing demand for fuel additives and synthetic rubber products is propelling the need for 2-Methylpropene in global markets. Furthermore, its use in lubricants, adhesives, and coatings highlights its versatility across various industrial applications.

How Are Environmental Regulations Impacting the 2-Methylpropene Market?

The 2-Methylpropene market is being shaped by evolving environmental regulations, particularly in fuel production and emissions reduction. The use of 2-Methylpropene to manufacture MTBE, a fuel additive that improves the octane rating of gasoline, has been subject to scrutiny due to environmental concerns, particularly in the United States where its use has been restricted. However, in many other regions, such as Asia and the Middle East, MTBE remains a key component in fuel production. As the global energy sector shifts toward cleaner alternatives, there is also increasing interest in bio-based isobutylene, derived from renewable feedstocks, which presents a more sustainable option. These trends highlight the industry’s transition toward greener alternatives and compliance with stricter environmental regulations.

How Is 2-Methylpropene Used in the Automotive Industry?

2-Methylpropene plays a pivotal role in the automotive industry, particularly through its use in butyl rubber and polyisobutylene. Butyl rubber, a product of isobutylene polymerization, is the material of choice for inner tire linings, thanks to its excellent air retention properties. As the global automotive industry grows, particularly in emerging markets, the demand for butyl rubber continues to rise. Additionally, polyisobutylene (PIB) is used as an additive in lubricants, improving viscosity and reducing engine wear. With the increasing focus on fuel efficiency and vehicle performance, PIB’s role in high-performance lubricants is gaining prominence, contributing to the expanding use of 2-Methylpropene in automotive applications.

What Is Driving Growth in the 2-Methylpropene Market?

The growth in the 2-Methylpropene market is driven by several factors, including the rising demand for butyl rubber in the automotive industry, increased use of polyisobutylene in high-performance lubricants, and the growing need for fuel additives in global markets. As automotive production expands globally, particularly in Asia-Pacific, the need for 2-Methylpropene-derived materials is accelerating. The shift towards bio-based alternatives and environmentally friendly production methods is also influencing the market, as companies explore sustainable options to reduce carbon footprints. Additionally, the continued use of MTBE in fuel production across several regions ensures steady demand for 2-Methylpropene in the petrochemical sector, further driving market growth.

Select Competitors (Total 12 Featured) -

• BASF SE
• Chevron Phillips Chemical Company
• Evonik Industries AG
• Heilongjiang Anruijia Petrochemical Co., Ltd.
• LyondellBasel Industries NV
• Shandong Yuhuang Chemical (Group) Co., Ltd.
• Songwon Industrial Co., Ltd.
• Sumitomo Chemical
• TPC Group
• Zibo Qixiang Petrochemical Group Ltd.

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