Market Overview:
Global High Purity Isobutylene Market Size Was Valued at USD 7.2 Billion in 2022, and is Projected to Reach USD 9.1 Billion by 2030, Growing at a CAGR of 4.5% From 2023-2030.
High Purity Isobutylene (HPIB) is a substance created by dehydrating tert-butanol that contains an olefinic molecule. HPIB or isobutylene is used in the creation and manufacturing of a variety of synthetic chemical products. Additionally, it is employed in the creation of high-reactivity polyisobutylene, butyl rubber, TBAC solvents, and alkylated phenols, which are used as preservatives. The market for high-purity isobutylene is being driven by factors like outstanding chemical and mechanical properties and an increase in applications in the automotive sector. Market expansion may be hampered by the derivatives' toxic effects. According to the analyst, the market for high-purity isobutylene is expanding as a result of rising demands from the automotive sector.
Top Key Players Covered In The High-Purity Isobutylene Market:
- Lyondell Basell (Netherlands)
- ExxonMobil Chemical (US)
- BASF SE (Germany)
- Sumitomo Chemical (Japan)
- Evonik (Germany)
- Honeywell (US)
- Songwon (South Korea)
- TASCO (Malaysia)
- Beijing Yanshan Petrochemical (China)
- TPC Group (US), and Other Major Players.
Market Dynamics and Factors:
The chemical and mechanical characteristics of high-purity isobutylene (HPIB), such as its exceptional inertness, superb flexibility, elasticity, and so forth, are excellent. High-purity isobutylene-based elastomers have special characteristics like low gas and liquid permeability, chemical resistance, and better damping. When halogenated, these elastomers also improve their thermal efficiency. These characteristics offer the substance a unique advantage in a variety of applications, such as hoses, tire inner liners, and dynamic automotive parts. Because they are highly impermeable to the transmission of air and moisture, butyl rubber and poly (isobutylene) based on HPIB are better candidates for sealant formulation. Since the addition of it improves the chemical and mechanical characteristics of different elastomers and polymers, the demand for high-purity isobutylene is rising.
By providing large-scale facilities for fundamental research, generously funding extramural research, scaling up funding in new fields, and supporting R&D activities, the Indian government is making a significant contribution to the scientific community. As a result of this assistance, several significant players have been inspired to grow their operations in India and to keep up with the nation's research and innovation. Many industries, including HPIB, are consistently concentrating on the development of isobutylene with more purity thanks to growing government backing in India. As a result, the development of the high-purity isobutylene market is influenced by the constant rise in the isobutylene purity level.
High Purity Isobutylene Market Report Highlight:
- By Type, the MTBE Decomposition Method segment is anticipated to lead the growth of the High Purity Isobutylene market in the forecasted timeframe. There is a method for recovering isobutylene and methanol by decomposing methyl-tert-butyl ether (MTBE). This method consists of a reaction distillation in which the MTBE is decomposed in the presence of an acid catalyst in the liquid phase. The decomposition product is distilled under reflux in a distillation column to separate isobutylene from the top of the column, the market for high-purity isobutylene is anticipated to grow during the forecast period as a result of the segment's increased use and high popularity for the MTBE decomposition technique.
- By Application, the Polyisobutylene segment is expected to have the highest share of the High Purity Isobutylene market over the projected period. Gas-impermeable synthetic rubber known as polyisobutylene (PIB) is produced and used all over the world to make lubricants, adhesives, sealants, gasoline additives, cling film, and chewing gum.
- The North American region is expected to have the highest share of the High Purity Isobutylene market over the projected period. In this region, high-purity isobutylene is becoming more and more in demand as a result of rising demands from the automotive sector. Numerous end-user apps are largely responsible for the market's expansion.
Key Industry Development:
- In October 2023, Evonik has taken a bold step towards sustainability by unveiling a new "green" grade of Highly Purified Isophorone Bisphenol (HPIB), produced entirely using renewable energy sources. This eco-friendly innovation is poised to resonate with environmentally conscious customers in the electronics and pharmaceutical industries, offering a responsible alternative without compromising on quality.
- In July 2023, LG Chem has partnered with a prominent research institute to pioneer a revolutionary membrane separation technology aimed at purifying Highly Purified Isophorone Bisphenol (HPIB). This innovation holds the promise of not only reducing production costs but also elevating purity levels significantly.
High Purity Isobutylene Market Segmentation:
By Type
- MTBE Decomposition Method
- C4 Fraction Separation Method
- Isobutane Dehydrogenation Method
- Others
By Application
- Butyl Rubber
- Polyisobutylene
- Others
For this report, Introspective Market Research has segmented the High Purity Isobutylene Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)
- North America
- The U.S.
- Canada
- Mexico
- Eastern Europe
- Russia
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
- Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Spain
- Rest of Western Europe
- Asia Pacific
- China
- India
- Japan
- Singapore
- Australia
- New-Zealand
- Rest of APAC
- Middle East & Africa
- Turkey
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
- South America
- Brazil
- Argentina
- Rest of SA
