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An extensive implementation of isobutene in refineries in production of alkylate is estimated to boost the market growth.
NEW YORK CITY, NEW YORK, UNITED STATES, November 15, 2022 /einpresswire.com / -- The Global isobutane market is expected to reach USD 38.82 Billion by 2028, according to a new report by Reports and Data. Isobutane is a colorless gas with a slight petroleum-like odor. It is very inflammable and is denser than air. Among the five natural gas liquids, isobutane has a distinctive place in the market. Isobutane is produced from gas processing plants and refineries and is also the only NGL purposely produced from another NGL –n-butane.
Isobutane is principally 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 forecasted to drive the market growth.
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Major companies Conoco Phillips, Linde, Praxair Technology, Air Liquide, Shell Trading International Limited, Sirloong, Jinling Petrochemicals, Taiyo Nippon Sanso Corporation, Evonik and Sibur
Further key findings from the report suggest
Pure grade isobutane is forecasted to witness highest growth rate of 6.8% in the forecast period owing to the application of this grade of isobutane in alkylation process as well as in refrigeration systems. Technical grade isobutene is forecasted to reach USD 10.71 billion by 2028.
Isobutane does not have the harmful characteristics of Freon and other related compounds. Thus, it is extensively used in all types of refrigeration systems, extending 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.
Petrochemicals is projected to capture more the 60% of the market in the forecast year reaching USD 20.77 billion by 2028. This can be attributed to the very high use of isobutane as feedstock which are used in the formation of the suitable atmosphere for production of isooctane. Researches are being done on various capabilities of isobutane as a feedstock in improving the production of numerous other compounds.
Isobutane is one among the hydrocarbons which are liquefied under pressure and are used as fuel in the form of LPG.
Asia Pacific is estimated to capture the largest market share in the with a growth rate of 6.7% during the forecast period due to the presence of 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 reach USD 7.17 billion by 2028.
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Segments covered in the report:
Type Outlook (Volume, Million Barrels per Day; 2020-2028 and Revenue, USD Million; 2020-2028)
99% Pure
5% Pure
7% Pure
Others
Grade Outlook (Volume, Million Barrels per Day; 2020-2028 and Revenue, USD Million; 2020-2028)
Pure Grade
Instrumentation Grade
Technical Grade
Application Outlook (Volume, Million Barrels per Day; 2020-2028 and Revenue, USD Million; 2020-2028)
Refrigeration System
Cosmetic Products
Petrochemicals
Aerosols
Others
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Key Regional Markets Covered in the Report:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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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 clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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Reports and Data
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