San Francisco, CA — 12/27/2017 — Global 2-Methylpropene Market: Overview
The rapid strides taken by the worldwide automotive industry in recent years and a burgeoning aviation sector in developing and developed regions are key factors that have spurred the demand for petrol, oil-based, lubricant additives, and a variety of rubber products. This has stoked the demand for 2-Methylpropene in the automotive and aviation sectors. In various parts of the world, producers are expanding their capabilities, notably in emerging region of Asia Pacific. In several of ASEAN nations, there is extensive demand for 2-methylpropene in the pharmaceutical industries. Furthermore, the compound is gaining traction as a useful substitute for several petroleum-based products. In recent years, constant focus on bio-based production of 2-methylpropene bodes well for the market.
Technological advances in manufacturing processes have led to bio-based production methods gathering steam through the fermentative production of isobutene has significantly contributed to the growth of the market. The cost-effective production of the compound is an attractive proposition. Advancements in petrochemical production bodes well for the market. Among other applications, bio-based 2-methylpropene is used in jet fuels. The global 2-methylpropene market is projected to rise at a healthy clip from 2017 and 2025, driven by the vast number of applications, notably in the pharmaceutical, aviation, and automotive sectors.
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The report offers an elaborate assessment of key factors and notable trends influencing the growth of the market. The study offers insights into recent developments in production facilities in prominent markets and the factors driving the demand in major regions. It also evaluates the factors shaping the competitive landscape. Furthermore, the report highlights lucrative avenues for market players.
Global 2-Methylpropene Market: Trends and Opportunities
The wide number of applications of 2-methylpropene for the production of numerous useful chemicals and in polymerization reactions is a key factor driving the market. The rising demand for the compound in the automotive and aviation industries in various regions is boosting the market. The vastly rising application of Isobutylene in manufacturing fuels and lubricants and their extensive demand in the automotive industries are key factors driving the market. This is attributed mainly to an extensive uptake of butyl rubber in manufacturing tubes and tires. A markedly rising rubber manufacturing industry is further accentuating the growth of the market.
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The production of environmental friendly fuel additives and compounds is unlocking exciting avenues for market players. The intensifying demand for bio-based 2-methylpropene in the aviation sector for producing jet fuels is a key factor booting the market. The emerging application of 2-methylpropene in making antioxidants is expected to create lucrative avenues for various market players. The rapid growth of the automotive industry in emerging countries is a key factor opening exciting opportunities for market players to capitalize on. The growing popularity of fermentative processes in the production of compounds, including 2-methylpropene, bodes well for the market.
Global 2-Methylpropene Market: Regional Outlook
Geographically, North America is a prominent market for 2-methylpropene. The growth of the market is driven by a rapidly expanding installed production capacity. However, notable environmental concerns in the production Methyl tert-butyl ether and the consecutive ban are notable factors likely to hinder the demand in the region to an extent.
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On the other hand, Asia Pacific is projected to rise at a prominent pace and the automotive industry in the region is expected to provide abundant opportunities for market. Economies such as China are witnessing a surge in production facilities, which is constantly boosting the regional market. Furthermore, a vastly rising demand for gasoline additives in the automotive sector in developed nations such as the U.S. and Russia is accentuating the growth of the overall market.
Some of the prominent players operating in the market are Shandong Yuhuang Chemical (Group) Co., Ltd., Heilongjiang Anruijia Petrochemical Co., Ltd., Zibo Qixiang Petrochemical Group Ltd., Sumitomo Chemical Co., Ltd., Songwon Industrial Co., Ltd., Chevron Phillips Chemical Company, TPC Group, LyondellBasel Industries NV, Evonik Industries AG, and BASF SE.
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