Isobutene Market Size, Share & Trends Analysis Report By Product (Methyl Tert-butyl Ether, Ethyl Tert-butyl Ether), By Application (Automotive, Aerospace), By Region, And Segment Forecasts, 2023 - 2030

Isobutene Market Size, Share & Trends Analysis Report By Product (Methyl Tert-butyl Ether, Ethyl Tert-butyl Ether), By Application (Automotive, Aerospace), By Region, And Segment Forecasts, 2023 - 2030

Isobutene Market Growth & Trends

The global isobutene market size is expected to reach USD 38.4 billion by 2030, registering a CAGR of 4.4% from 2023 to 2030, according to a new report by Grand View Research, Inc. Regulatory policies aimed at carcinogenicity of petrochemicals to have a huge impact on industry dynamics and product development sources. The primary market driver is the growing demand for rubber from the automotive industry. It used primarily used as a precursor to various chemicals, for instance, in the polymerization reaction with isoprene for the production of polybutene. Polybutene, in simple terms, is butyl rubber used for the production of tires and other synthetic products.

Tire production increased exponentially in the emerging countries of Asia Pacific including China and India. This increase in production is attributable to the growing transportation sector in these economies. Factors such as low-cost land for production facilities and easy availability of skilled labor have had a positive impact on the growth trend. Asia Pacific accounted for over 33% of the global volume in 2015.

Isobutene Market Report Highlights

• The global isobutene market size was estimated at 27.3 billion in 2022 growing at a CAGR of 4.4% from 2023 to 2030
• The methyl tert-butyl ether (MTBE) segment accounted for the largest revenue share of 78.9% in 2022. However, growing concerns regarding groundwater contamination caused due to leakage of MTBE coupled with increasing popularity of ethanol as a gasoline blending agent is expected to segment impact growth negatively
• The U.S. EPA has decided to ban MTBE to be used for gasoline blending in the nation on account of the aforementioned factor. The regulatory ban might have an influential role on policies established in other regions as well.
• The automotive segment accounted for the largest revenue share of 32.5% in 2022
• Product development and capacity expansions remain key determinants of competitiveness. Evonik Industries increased its production capacity by three times in Antwerp, Belgium.
• Global Bioenergies produced second generation bio sourced isobutene as an initiative to diversify accessible feedstock towards cheaper resources

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