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NEW YORK, Oct. 16, 2024 /PRNewswire/ -- Report with the AI impact on market trends- The global
isobutyl benzene market size is estimated to grow by USD 18.6 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 5% during the forecast period. Increasing demand for ibuprofen
is driving market growth,
with a trend towards
increase in use of isobutyl benzene in Pharmaceutical industry. However,
fluctuating crude oil prices poses a challenge. Key market players include Alfa Chemistry, ALPHA CHEMIKA, Elchemy, IOL Chemicals and Pharmaceuticals Ltd., LGC Science Group Holdings Ltd., Loba Chemie Pvt. Ltd., Otto Chemie Pvt. Ltd., Ralington Pharma LLP, Sagechem Ltd., Santa Cruz Biotechnology Inc., Shandong Xinhua Pharmaceutical Co. Ltd., SI Group Inc., Sisco Research Laboratories Pvt. Ltd., Synthonix Inc., Thermo Fisher Scientific Inc., Tokyo Chemical Industry Co., Ltd., Vinati Organics Ltd., and Vizag Chemical International.
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Technavio has announced its latest market research report titled Global Isobutyl Benzene Market 2024-2028
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| Forecast period |
2024-2028 |
| Base Year |
2023 |
| Historic Data |
2018 - 2022 |
| Segment Covered |
Application (Coating, Surfactant, Medicine, and Others), End-user (Pharmaceuticals, Chemical, Textile industry, and Others), and Geography (APAC, Europe, North America, Middle East and Africa, and South America) |
| Region Covered |
APAC, Europe, North America, Middle East and Africa, and South America |
| Key companies profiled |
Alfa Chemistry, ALPHA CHEMIKA, Elchemy, IOL Chemicals and Pharmaceuticals Ltd., LGC Science Group Holdings Ltd., Loba Chemie Pvt. Ltd., Otto Chemie Pvt. Ltd., Ralington Pharma LLP, Sagechem Ltd., Santa Cruz Biotechnology Inc., Shandong Xinhua Pharmaceutical Co. Ltd., SI Group Inc., Sisco Research Laboratories Pvt. Ltd., Synthonix Inc., Thermo Fisher Scientific Inc., Tokyo Chemical Industry Co., Ltd., Vinati Organics Ltd., and Vizag Chemical International |
Key Market Trends Fueling Growth
The pharmaceutical industry is the primary consumer of isobutyl benzene in the global market. Isobutyl benzene is utilized as a feedstock in the production of ibuprofen, which holds significant demand in the medical and pharmaceutical sectors. The increasing use of ibuprofen drives the requirement for isobutyl benzene, as it needs a purity level of approximately 99.50%. The pharmaceutical industry's growth is projected to boost the global isobutyl benzene market during the forecast period. North America dominates this market due to the expanding pharmaceutical sector and increased R&D investments. Government initiatives to strengthen the pharmaceutical industry in various countries may further fuel market growth.
Isobutyl Benzene is a popular organic compound used in various industries. Its primary applications are in the production of Para-isobutyl Acetophenone for the Personal Care sector, used as a fragrance in perfumes and cosmetics. In the Pharmaceutical industry, Isobutyl Benzene is used as a feedstock for the production of Ibuprofen, an analgesic and anti-inflammatory drug. The Chemical's purity levels vary, with retail sales of Industrial Grade, Pharmaceutical Grade, and Bio Grade available. Its inflammable properties make it essential in the production of Surfactants and Antioxidants. The Perfume Industry uses Isobutyl Benzene for its aromatic effect. Isobutyl Benzene is also used in the Plastics and Rubber Industries as a raw material. In the Agrochemicals sector, it serves as a Pharmaceutical Intermediate. The Cosmetic Industry uses it as a specialty chemical for making Fragrances and Aroma Chemicals. Manufacturers follow Good Manufacturing Practices (GMP) to ensure quality. Handling Isobutyl Benzene requires care due to its chemical properties. Vinati Organics is a significant player in the Specialty Chemicals Manufacturing industry for Isobutyl Benzene. Isobutyl Benzene is also used in the production of Active Pharmaceutical Ingredients (APIs) and Antioxidants. Green practices are increasingly being adopted for the production of biodegradable antioxidants.
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Market
Challenges
The global
isobutyl benzene market faces significant challenges due to the volatility of crude oil prices. Crude oil is the primary source of raw materials, toluene, and propylene, which are essential for isobutyl benzene production. Fluctuations in crude oil prices impact the production capacity and cost of these raw materials, affecting the isobutyl benzene market. Propylene, a crucial component in various industrial products, is directly derived from oil or its derivatives. The petrochemical industry, including isobutyl benzene production, is significantly influenced by crude oil price volatility. The decline in oil prices led to cost-cutting measures in the oil and gas industry, such as workforce reductions. Although crude oil prices have risen in recent years, the Energy Information Administration reported downward price pressures in 2019. The isobutyl benzene market growth is negatively impacted by the volatility in raw material prices, primarily natural gas and crude oil.
Isobutyl Benzene is a valuable organic compound used in various industries, including the pharmaceutical, fragrance, plastics, rubber, and agrochemicals sectors. Its chemical properties make it an essential feedstock for producing analgesic and anti-inflammatory painkillers like ibuprofen. In the fragrance and perfume industry, Isobutyl Benzene is used for its aromatic effect. Manufacturing Isobutyl Benzene requires adherence to Good Manufacturing Practices (GMP) to ensure product quality and safety. Handling this inflammable chemical requires careful attention due to its potential hazards. Isobutyl Benzene is also used in producing antioxidants, specialty chemicals, and active pharmaceutical ingredients (APIs) for the healthcare sector. The pharmaceutical intermediates market, which includes APIs, is expected to grow due to the prevalence of neurological disorders like migraine and comorbid conditions. Vinati Organics is a leading manufacturer of aroma chemicals and specialty chemicals. They produce Bio-Based Isobutyl Benzene, which aligns with green practices and environmental regulations. The demand for biodegradable antioxidants is increasing, making this a promising market for Isobutyl Benzene. Crude oil prices and healthcare service providers' needs impact the consumption of Isobutyl Benzene. The cosmetic industry also uses Isobutyl Benzene as a raw material. The lubricants industry benefits from its use in producing high-performance lubricants. In conclusion, Isobutyl Benzene is a versatile organic compound with various applications in the pharmaceutical, fragrance, plastics, rubber, agrochemicals, and cosmetic industries. Its production requires careful handling and adherence to GMP. The growing demand for painkillers, antioxidants, and specialty chemicals will drive the market for Isobutyl Benzene.
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Segment Overview
This isobutyl benzene market report extensively covers market segmentation by
Application
1.1 Coating
1.2 Surfactant
1.3 Medicine
1.4 Others
End-user
2.1 Pharmaceuticals
2.2 Chemical
2.3 Textile industry
2.4 Others
Geography
3.1 APAC
3.2 Europe
3.3 North America
3.4 Middle East and Africa
3.5 South America
1.1
Coating- Isobutyl benzene is a valuable solvent in the coatings industry due to its exceptional solubility properties. It effectively dissolves resins, pigments, and other coating components, simplifying formulation and application processes. Isobutyl benzene enhances coating quality by improving flow and leveling, resulting in a smooth and even surface. It also contributes to the drying and curing process, enabling coatings to harden and form a protective layer. Isobutyl benzene's compatibility with various coating materials, such as acrylics, alkyds, epoxies, and polyurethanes, makes it a versatile solvent. The construction, automotive, and industrial sectors' growing demand for coatings will fuel the global isobutyl benzene market's expansion. Key factors driving this growth include increasing construction activities, infrastructure development, and rising automotive production. Isobutyl benzene's advantages, including low volatility, low viscosity, and high flash point, ensure safer handling and storage in manufacturing facilities.
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Research Analysis
Isobutyl Benzene is a valuable chemical compound used in various industries, including Personal Care, Chemical, Pharmaceutical, and Specialty Chemicals. It is an essential raw material in the production of Para-isobutyl Acetophenone, used in perfumes and fragrances. In the Personal Care sector, it is used in cosmetics and retail sales of skincare and haircare products. Industrial and Pharmaceutical Grades of Isobutyl Benzene are used in antioxidant production, plastics, rubber industries, agrochemicals, and pharmaceutical intermediates. The market for Isobutyl Benzene is influenced by factors such as crude oil prices, consumer preferences for green practices, and the prevalence of headaches and migraines, leading to increased demand for ibuprofen and healthcare services. Biodegradable antioxidants are also gaining popularity due to environmental concerns. Companies producing Isobutyl Benzene employ Aluminum Chloride Catalyst for acylation processes.
Market Research Overview
Isobutyl Benzene is a valuable organic compound used in various industries, including Personal Care, Chemical, Pharmaceutical, and Fragrance sectors. It is an aromatic compound with a distinctive sweet and floral scent, making it an essential ingredient in perfumes and fragrances. In the chemical industry, Isobutyl Benzene is used as a feedstock for producing Para-isobutyl Acetophenone, an essential intermediate for manufacturing agrochemicals and pharmaceutical intermediates. Isobutyl Benzene is also used in the production of Surfactants, Antioxidants, and Specialty Chemicals. In the Pharmaceutical sector, it is used in the manufacturing of Ibuprofen, an analgesic and anti-inflammatory drug used in painkillers and headache medicines. The Cosmetics industry uses Isobutyl Benzene as a raw material due to its excellent handling properties and high purity levels. Isobutyl Benzene is an inflammable organic compound with chemical properties that make it suitable for use in various industries. It is used in the Plastics and Rubber industries, as well as in the production of Bio-Based Isobutyl Benzene. The production of Isobutyl Benzene involves the use of Aluminum Chloride Catalyst and Good Manufacturing Practices (GMP) to ensure high-quality products. Environmental regulations and green practices are essential considerations in the chemical manufacturing of Isobutyl Benzene. Biodegradable antioxidants are used to minimize environmental impact. The demand for Isobutyl Benzene is influenced by factors such as crude oil prices, the prevalence of migraine and other neurological disorders, and consumption of ibuprofen. Major applications of Isobutyl Benzene include the production of specialty chemicals, fragrances, and pharmaceutical intermediates.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Application
Coating
Surfactant
Medicine
Others
End-user
Pharmaceuticals
Chemical
Textile Industry
Others
Geography
APAC
Europe
North America
Middle East And Africa
South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email:
[email protected]
Website:
SOURCE Technavio
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