Isobutane Market

Isobutane Market Analysis and Forecast by Purity, Source, Application, Region, and Country, 2023–2033

Expanding Chemical Industry Spurs Isobutane Market Expansion

Category: Chemicals & Materials Published Date : Oct-23 ID: CVC01108 Format: PDF Pages: 300

Isobutane Industry Outlook

As per rigorous research by ChemView Consulting, our analysts forecast that the global isobutane market is expected to reach a valuation of USD 29731.7 million and will grow at a 5.6% CAGR during 2023 to 2033.

Key Findings on the Isobutane Sector

  1. Which is the largest market for isobutane?

The biggest market is East Asia. As per our analysis, East Asia holds nearly 34.3% market share.

  1. What is the largest application segment within the isobutane sector?

As per ChemView Consulting, the largest segment by application is refineries. As per our analysis, this segment accounts for nearly 46.3% of total revenues.

  1. At what rate is the isobutane market expected to grow?

The industry size is expected to grow at a CAGR of 5.6% during the period 2023–2033.

  1. What are the major trends influencing the isobutane industry growth?
  • Technological Advancements: Continuous research and development is leading to the development of more efficient and environmentally friendly isobutane production techniques.
  • Energy Industry: Isobutane is rapidly being employed in the energy sector to boost oil recovery, which is fueling market expansion.
  1. Who are the leading players in the industry landscape?

The key companies in the isobutane market are Praxair Technology, BASF SE, ConocoPhillips, Air Liquide, KazMunayGas, Taiyo Nippon Sanso Corporation, Evonik, Thyssenkrupp Industrial Solutions, Valero Energy Corp., Ltd., ExxonMobil Chemical, Versalis S.p.A., Verni Gas Corporation, Total Petrochemicals & Refining, Shandong Yuean Chemical, LyondellBasell, TPC Group, Royal Dutch Shell, Chevron Phillips Chemical Company, INEOS, Sinopec, Praxair, Inc., PBF Energy, Sinopec, Linde LLC., Amcor, Matheson, Aditya Air Products, and Bhuruka Gases Limited.

Key Drivers for Isobutane Demand

  • Isobutane is a refrigerant that is commonly found in domestic refrigerators and air conditioning equipment. Thus, the growing need for energy-efficient and environmentally friendly refrigeration systems will boost the isobutane market.
  • In addition, isobutane is often used as a propellant in aerosol items such as personal care products and home cleaners. As the consumer products industry continues to develop and expand, the demand for isobutane in aerosols is expected to rise.
  • Furthermore, isobutane is used in automotive air conditioning systems. As the global automobile industry increases and the demand for more energy-efficient vehicles rises, so will the demand for isobutane in automotive applications.

Key Challenges Inhibiting Demand for Isobutane

  • As environmental concerns increase, there is a shift towards adopting more environmentally friendly refrigerants, such as hydrofluorocarbons (HFCs) and natural refrigerants. The change may lower isobutane usage in refrigeration applications.
  • Moreover, the global push for renewable and sustainable energy sources may reduce the usage of isobutane in energy-related applications, such as the production of isobutane-powered engines or generators, which is expected to hamper market growth.

Key Challenges & Opportunities for Isobutane Market Manufacturers

  • Ensuring the safe and effective transport of isobutane, often in compressed gas form, can be difficult due to strict safety rules, handling restrictions, and the need for specialized equipment.
  • However, embracing innovative technologies for the production and distribution of isobutane can enhance efficiency and reduce costs, thereby creating a competitive advantage and market opportunities.

Country/Region-wise Insights

US Isobutane Industry Forecast 

  • The growing importance of isobutane-based refrigerants in the HVAC business, as well as the increasing automobile sector in the US market, are projected to observe significant growth in the estimated period.
  • In addition, growing environmental consciousness and the demand for eco-friendly alternatives are driving the industry towards isobutane as a more environmentally conscious solution.

Europe Isobutane Market Outlook 

  • Rising consumer awareness of ecologically friendly products and a growing need for eco-friendly refrigeration systems in the Europe market are anticipated to drive sales in the market over the assessment period.
  • In addition, the growing automobile sector and the requirement for efficient air conditioning systems are driving up demand for isobutane as a refrigerant.

Japan Isobutane Business Forecast

  • Consistent growth in the automotive industry, particularly in the electric and hybrid car sectors, in the Japanese market is anticipated to drive the market over the forecasted period.
  • Additionally, Japan’s growing emphasis on environmentally friendly energy sources, along with expanding demand for refrigeration and air conditioning systems, is driving higher demand for isobutane, a vital refrigerant and propellant gas.

China & India Isobutane Market Forecast

  • Increasing urbanization, population growth, and the expansion of industrial sectors in the China & Indian markets are anticipated to fuel the market over the forecast period. China & India’s markets are likely to account for a leading share of the global industry.
  • In addition, environmental laws and a trend towards eco-friendly refrigerants are expected to drive even further market expansion.

Isobutane Industry Outlook & Forecast by Segmentation

By Purity

Based on purity, the 99.5% segment is expected to remain at the forefront of the market share over the assessment period. The growth is mainly because high-purity isobutane, such as the 99.5% segment, is critical for applications that need low impurities or pollutants. Industries like refrigeration, which use isobutane as a refrigerant, require high-purity isobutane to ensure the effective and safe operation of their systems.

Furthermore, in many industries, there are strict regulations governing the quality and purity of the chemicals used. High-purity isobutane is more likely to meet certain regulatory criteria, making it the preferable choice for ensuring compliance and safety.

By Source

Based on the source, the synthetics segment is expected to remain at the forefront of the isobutane market size over the assessment period. The growth is mainly because synthetic isobutane can be manufactured consistently, aiding in the maintenance of reliable supply chains. This is critical for companies that rely on a consistent supply of isobutane for production.

In addition, synthetic isobutane costs may be more stable than natural isobutane prices, which might fluctuate due to variables such as supply limits. This can make synthetic isobutane appealing to industries seeking cost predictability.

Furthermore, synthetic isobutane may be produced at high purity, making it useful for applications where impurities could be detrimental, such as the production of specialty chemicals and pharmaceuticals.

By Application

Based on application, the refineries segment is set to account for 46.3% of the isobutane market section over the assessment period. The growth is because refineries are a major source of isobutane production. Isobutane is frequently produced as a byproduct of crude oil refining and natural gas processing. Refineries have well-established infrastructure and techniques for extracting isobutane, giving them a continuous and stable source of this hydrocarbon.

In addition, refineries have the capacity for large-scale isobutane manufacturing, which is critical for addressing the demands in various sectors. They can produce large amounts of isobutane, ensuring a stable supply for the market.

Which Company Owns the Largest Share in the Isobutane Industry?

The key companies in the isobutane business are Praxair Technology, BASF SE, ConocoPhillips, Air Liquide, KazMunayGas, Taiyo Nippon Sanso Corporation, Evonik, Thyssenkrupp Industrial Solutions, Valero Energy Corp., Ltd., ExxonMobil Chemical, Versalis S.p.A., Verni Gas Corporation, Total Petrochemicals & Refining, Shandong Yuean Chemical, LyondellBasell, TPC Group, Royal Dutch Shell, Chevron Phillips Chemical Company, INEOS, Sinopec, Praxair, Inc., PBF Energy, Sinopec, Linde LLC., Amcor, Matheson, Aditya Air Products, and Bhuruka Gases Limited.

Recent Developments:

  • In April 2022, Evonik, a publicly traded German specialty chemicals firm, launched a “double-digit million euro” project to expand isobutane derivative output at its C4 Verbund plant in Marl, Germany, by more than 50%.
  • In November 2022, KazMunayGas, the government-owned oil and gas firm, started building a new butadiene and synthetic rubber site.
  • In July 2020, Thyssenkrupp Industrial Solutions, a prominent partner in the design, construction, and maintenance of industrial plants and systems, and BASF SE announced an agreement to expand their collaboration on the STAR process.

As per our analysis, the companies that hold the major share of the isobutane market are

Click Here to Request Company-wise Data

Praxair Technology  

Founded in 1907 and with headquarters in Danbury, Connecticut, United States, it is a global industrial gas corporation.

BASF SE

Founded in 1865 and headquartered in Ludwigshafen, Germany, it is a multinational corporation and the world’s largest chemical producer.

ExxonMobil Chemical

Established in 1966 with headquarters in Houston, Texas, United States, it is an international oil and gas company.

TPC Group

Founded in 1944 and based in Houston, Texas, it is a manufacturer of petrochemicals.

Amcor 

Founded in 1896 and with headquarters in Zurich, Switzerland, it is a multinational packaging company.

What Makes this Report More Insightful than Others?

With ChemView Consulting, we’re redefining market research for the next generation. Go beyond traditional analysis and immerse yourself in a holistic exploration of business opportunities. We offer:

Actionable Business Opportunity Assessments: Navigate the business landscape with precise, actionable insights tailored for future growth.

Strategic Competitive Intelligence: Stay ahead with in-depth analysis, ensuring you always have a competitive edge.

Customer Insights Like Never Before: Understand your customer’s evolving needs, aspirations, and behaviors to drive brand loyalty and value.

Dynamic Price Tracking: Stay agile in a fluctuating market with real-time pricing intelligence.

Profitability Analysis with Precision: Dive deep into data-driven strategies that ensure optimal returns on investment.

M&A and Alliances Mastery: Navigate the complex world of mergers, acquisitions, and alliances with expert foresight.

Startup Ecosystem Tracking: Discover the next big disruptors before they make headlines.

Up-to-the-minute Regulations & Compliance Updates: Stay ahead of the regulatory curve, ensuring business continuity and compliance.

Pioneering Technological Insights: Explore the forefront of innovation, capturing trends before they shape the market.

The future is data-rich and insights-driven, and with ChemView Consulting, you are poised at the forefront. Every report is crafted to inspire, and every insight is designed to catalyze growth. Partner with us, and let’s co-create the future of your business.

Summary

The isobutane market is projected to reach a significant value of $ 29731.7 M$n by 2033, driven by a robust 5.6% CAGR during the period 2023–2033. Key industry players actively contributing to its growth are Praxair Technology, BASF SE, ConocoPhillips, Air Liquide, KazMunayGas, Taiyo Nippon Sanso Corporation, Evonik, Thyssenkrupp Industrial Solutions, Valero Energy Corp., Ltd., ExxonMobil Chemical, Versalis S.p.A., Verni Gas Corporation, Total Petrochemicals & Refining, Shandong Yuan Chemical, LyondellBasell, TPC Group, Royal Dutch Shell, Chevron Phillips Chemical Company, INEOS, Sinopec, Praxair, Inc., PBF Energy, Sinopec, Linde LLC., Amcor, Matheson, Aditya Air Products, and Bhuruka Gases Limited. The largest market segment by application is refineries, while East Asia emerges as the dominant region in this market.

Follow Us On Our Social Media Pages 

Facebook and Linkedin









1.1. Global Market Outlook

1.2. Technology Roadmap

1.3. Supply and Demand Side Trends

1.4. Strategic Success Factors

1.5. Analysis and Recommendations

2.1. Market Taxonomy

2.2. Market Definitions

2.3. Inclusions & Limitations

3.1. Supply Side Overview

3.2. Demand Side Overview

4.1. Macroeconomic Factors

4.2. Forecast Factors

4.3. PEST Analysis

4.4. Porter’s Five Forces

4.5. Value Chain Analysis

4.6. Market Dynamics

4.6.1. Drivers

4.6.2. Restraints

4.6.3. Opportunities

4.7. Patent Analysis

4.8. Trade Analysis

4.9. Investment Feasibility Matrix

4.10. Challenges for New Entrants

4.11. Regulations Overview

4.12. Covid-19 Impact Assessment

4.12.1. Economy/Cluster Projections

4.12.2. Covid-19 Economic Assessment

4.12.3. Potential Impact on Target Market

4.12.4. Recovery Scenario

5.1. Historical Value ($ Mn) and Future Market Value ($ Mn) Projection Analysis

5.2. Demand Y-o-Y Growth Rate Analysis

5.3. Total $ Opportunity Analysis

5.4. Historical Volume (Tons) and Future Market Volume (Tons) Projection Analysis

6.1. Regional Pricing Analysis By Source

6.2. Regional Price Forecast

6.3. Profit Margin Analysis

6.4. Future Price Impact Factors

7.1. Introduction

7.2. Market Trends

7.3. Historical Market Analysis and Market Forecast Analysis

7.3.1. 95%

7.3.2. 99%

7.3.3. 99.5%

7.3.4. Others

7.4. Market Attractiveness Analysis

8.1. Introduction

8.2. Market Trends

8.3. Historical Market Analysis and Market Forecast Analysis

8.3.1. Bio-based Isobutane

8.3.2. Synthetic Isobutane

8.4. Market Attractiveness Analysis

9.1. Introduction

9.2. Market Trends

9.3. Historical Market Analysis and Market Forecast Analysis

9.3.1. Refineries

9.3.2. Refrigerant

9.3.3. Propellants

9.3.4. Feed Stock (Plastics)

9.3.5. Solvents

9.3.6. Others

9.4. Market Attractiveness Analysis

10.1. Introduction

10.2. Market Trends

10.3. Historical Market Analysis and Market Forecast Analysis

10.3.1. North America

10.3.2. Latin America

10.3.3. Western Europe

10.3.4. Eastern Europe

10.3.5. East Asia

10.3.6. South Asia Pacific

10.3.7. Middle East & Africa

10.4. Market Attractiveness Analysis by Region

11.1. Introduction

11.2. Key Market Trends

11.3. Pricing Analysis

11.4. Historical Market Analysis and Market Forecast Analysis

11.4.1. By Country

11.4.1.1. The U.S.

11.4.1.2. Canada

11.4.2. By Purity

11.4.3. By Source

11.4.4. By Application

11.5. Market Attractiveness Analysis

11.5.1. By Country

11.5.2. By Purity

11.5.3. By Source

11.5.4. By Application

11.6. Market Participants Presence Mapping

12.1. Introduction

12.2. Key Market Trends

12.3. Pricing Analysis

12.4. Historical Market Analysis and Market Forecast Analysis

12.4.1. By Country

12.4.1.1. Brazil

12.4.1.2. Mexico

12.4.1.3. Rest of L.A.

12.4.2. By Purity

12.4.3. By Source

12.4.4. By Application

12.5. Market Attractiveness Analysis

12.5.1. By Country

12.5.2. By Purity

12.5.3. By Source

12.5.4. By Application

12.6. Market Participants Presence Mapping

13.1. Introduction

13.2. Key Market Trends

13.3. Pricing Analysis

13.4. Historical Market Analysis and Market Forecast Analysis

13.4.1. By Country

13.4.1.1. Germany

13.4.1.2. Italy

13.4.1.3. France

13.4.1.4. U.K.

13.4.1.5. Spain

13.4.1.6. BENELUX

13.4.1.7. Nordics

13.4.1.8. Rest of Western Europe

13.4.2. By Purity

13.4.3. By Source

13.4.4. By Application

13.5. Market Attractiveness Analysis

13.5.1. By Country

13.5.2. By Purity

13.5.3. By Source

13.5.4. By Application

13.6. Market Participants Presence Mapping

14.1. Introduction

14.2. Key Market Trends

14.3. Pricing Analysis

14.4. Historical Market Analysis and Market Forecast Analysis

14.4.1. By Country

14.4.1.1. Poland

14.4.1.2. Russia

14.4.1.3. Baltics

14.4.1.4. Balkans

14.4.1.5. Rest of Eastern Europe

14.4.2. By Purity

14.4.3. By Source

14.4.4. By Application

14.5. Market Attractiveness Analysis

14.5.1. By Country

14.5.2. By Purity

14.5.3. By Source

14.5.4. By Application

14.6. Market Participants Presence Mapping

15.1. Introduction

15.2. Key Market Trends

15.3. Pricing Analysis

15.4. Historical Market Analysis and Market Forecast Analysis

15.4.1. By Country

15.4.1.1. China

15.4.1.2. Japan

15.4.1.3. South Korea

15.4.2. By Purity

15.4.3. By Source

15.4.4. By Application

15.5. Market Attractiveness Analysis

15.5.1. By Country

15.5.2. By Purity

15.5.3. By Source

15.5.4. By Application

15.6. Market Participants Presence Mapping

16.1. Introduction

16.2. Key Market Trends

16.3. Pricing Analysis

16.4. Historical Market Analysis and Market Forecast Analysis

16.4.1. By Country

16.4.1.1. India

16.4.1.2. ASEAN

16.4.1.3. ANZ

16.4.1.4. Rest of SAP

16.4.2. By Purity

16.4.3. By Source

16.4.4. By Application

16.5. Market Attractiveness Analysis

16.5.1. By Country

16.5.2. By Purity

16.5.3. By Source

16.5.4. By Application

16.6. Market Participants Presence Mapping

17.1. Introduction

17.2. Key Market Trends

17.3. Pricing Analysis

17.4. Historical Market Analysis and Market Forecast Analysis

17.4.1. By Country

17.4.1.1. GCC Countries

17.4.1.2. Turkey

17.4.1.3. South Africa

17.4.1.4. Rest of MEA

17.4.2. By Purity

17.4.3. By Source

17.4.4. By Application

17.5. Market Attractiveness Analysis

17.5.1. By Country

17.5.2. By Purity

17.5.3. By Source

17.5.4. By Application

17.6. Market Participants Presence Mapping

18.1. Market Concentration Analysis

18.2. Tier Structure Breakdown

18.3. Market Share Analysis

18.4. Production Capacity Analysis

18.5. Key Strategies Adopted by Top Players

18.6. Start-up Ecosystem

18.6.1. New Player Entry

18.6.2. Strategies Adopted by New Players

18.7. Company Footprint Analysis

18.7.1. Vehicle Type Footprint

18.7.2. Regional Footprint

18.8. Competitive Dashboard

19.1. Praxair Technology

19.1.1. Company Overview

19.1.2. Product Portfolio

19.1.3. Locations

19.1.4. Financial Analysis

19.1.5. Recent Developments

19.1.6. SWOT Analysis

19.1.7. Strategy Overview

19.2. BASF SE

19.3. ConocoPhillips

19.4. Air Liquide

19.5. KazMunayGas

19.6. Taiyo Nippon Sanso Corporation

19.7. Evonik

19.8. Thyssenkrupp Industrial Solutions

19.9. Valero Energy Corp., Ltd.

19.10. ExxonMobil Chemical

19.11. Verni Gas Corporation

19.12. Total Petrochemicals & Refining

19.13. Shandong Yuan Chemical

19.14. LyondellBasell

19.15. Royal Dutch Shell

19.16. Chevron Phillips Chemical Company

19.17. TPC Group

19.18. INEOS

19.19. Sinopec

19.20. Versalis S.p.A.

19.21. Praxair, Inc.

19.22. PBF Energy

19.23. Sinopec

19.24. Linde LLC.

19.25. Amcor

19.26. Matheson

19.27. Aditya Air Products

19.28. Bhuruka Gases Limited