Isobutane Market Size – USD 21.32 billion in 2019, CAGR of 6.6%, Isobutane Trends – Rise of the cold chain market

NEW YORK CITY, NEW YORK, UNITED STATES, March 5, 2020 /EINPresswire.com/ -- The Global Isobutane Market is expected to reach USD 36.24 Billion by 2027, according to a new report by Reports and Data. Isobutane is a colorless gas with a slight petroleum-like odor. It is highly inflammable and is denser than air. Among the five natural gas liquids, isobutane has a distinct position in the market. Isobutane is produced in gas processing plants and refineries and is also the only NGL produced using another NGL–n-butane.

Isobutane is primarily used in refineries as a gasoline-petrol additive. It is processed to make alkylate through the process of alkylation. It is used to produce isooctane, a high octane gasoline constituent, which increases the octane rating and anti-knock characteristics of gasoline. This extensive implementation of isobutane in refineries and petrochemical plants is forecast to drive the growth of the market.

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Cold chain market, where temperature control is an important aspect throughout the supply chain, seeks the application of isobutane as a refrigerant. With a constant rise of the cold chain market, a rise in the demand for isobutene can be expected in the forecast period.

Factors that may limit the market growth include the inflammable nature of isobutane and the related safety concerns.

The market for isobutene in the Asia Pacific region is projected to observe the highest growth rate owing to an increase in the petroleum refineries and petrochemical plants, especially in countries like China and India. The market demand in this region is also credited to the surging demand for isobutane as refrigerants and aerosol propellants in various other industries.

Further key findings from the report suggest

• Pure grade isobutane is forecast to witness highest growth rate of 6.8% in the forecast period owing to its application in the alkylation process and in refrigeration systems. Technical grade isobutene is forecast to reach USD 10.74 billion by 2027.
• Isobutane does not have the harmful characteristics of Freon and other related compounds. Thus, it is extensively used in all types of refrigeration systems, right from small home solutions to massive commercial freezers. Isobutane is denoted as R-600a when it is applied as propellants in aerosols or as refrigerants.
• The petrochemicals segment is projected to control over 60% of the market in the forecast years, reaching USD 20.79 billion by 2027. This can be attributed to the high usage of isobutane as feedstock for the formation of a suitable atmosphere for the production of isooctane. Research is currently underway on the various capabilities of isobutane as feedstock in improving the production of several other compounds.
• Isobutane, among all the hydrocarbons, is liquefied under pressure and used as fuel in the form of LPG.
• Asia Pacific is estimated to capture the largest market share in the industry with a growth rate of 6.7% during the forecast period, due to the presence of a large number of refineries in the region, especially in countries like China, India, Japan, and South Korea. The market in North America is projected to surpass the value of USD 7.21 billion by 2027.
• Key participants include Conoco Phillips, Linde, Praxair Technology, Air Liquide, Shell Trading International Limited, Sirloong, Jinling Petrochemicals, Taiyo Nippon Sanso Corporation, Evonik, and Sibur, among others.

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For the purpose of this report, Reports and Data segments the global isobutane market on the basis of type, grade, application, and region:

Type Outlook (Volume, Million Barrels per Day; 2017-2027 and Revenue, USD Million; 2017-2027)
• 99% Pure
• 5% Pure
• 7% Pure
• Others

Grade Outlook (Volume, Million Barrels per Day; 2017-2027 and Revenue, USD Million; 2017-2027)
• Pure Grade
• Instrumentation Grade
• Technical Grade

Application Outlook (Volume, Million Barrels per Day; 2017-2027 and Revenue, USD Million; 2017-2027)
• Refrigeration System
• Cosmetic Products
• Petrochemicals
• Aerosols
• Others

To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/isobutane-market

Regional Outlook (Volume, Million Barrels per Day; 2017-2027 and Revenue, USD Million; 2017-2027)
• North America
1. U.S.
• Europe
1. Germany
2. U.K.
• Asia Pacific
1. China
2. India
3. South-east Asia
• Latin America
1. Brazil
• Middle East & Africa

About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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