Isobutanol is expected to perceive significant demand as an alternative to conventional fuel. The high demand of the product is attributed to its increasing adoption as an alternative for ethanol in gasoline. It is widely used in the production of isobutyl acetate. The isobutanol market is driven by wide acceptance in the various consumer product industries, such as food processing industry and lacquer.
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On the basis of type, the isobutanol market is classified as synthetic and bio-based. Synthetic was the largest segment in the market in 2017. This is owing to the growing environmental and toxicity concerns coupled with high rate of commercialization of bio-isobutanol at cheaper prices. Additionally, synthetic type is also extensively being used in renewable jet fuels that provide low carbon footprints and cleaner burning.
The stringent government regulation towards the use of isobutyl acetate in food processing and cosmetics, owing to the toxic properties, is the most dominant restrain for the growth the isobutanol market. For instance, in 2009, Government of Canada has restricted the use of this product in cosmetics, due to the toxicity of lethal dose at 50%.
Emergence of the product as a platform chemical for producing isobutyl esters has also helped in market penetration. Intrinsic properties associated with these such as medium volatility and limited miscibility is expected to positively impact isobutanol market growth in coming years.
Regionally, Asia-Pacific is the largest region in the isobutanol market, attributed to the demand of the product from food processing and paints and coating industry in this region. The surging urbanization and strengthening infrastructural project in tier II and tier III cities of India and China has boosted the market growth in this region.
North America followed Asia-Pacific, with thriving demand for a variety of chemicals, bio-fuels, and paints and coatings from countries such the U.S and Canada.
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Some of the major companies operating in the global isobutanol market include the Dow Chemical Company, BASF SE, Eastman Chemical Company, Saudi Butanol Company, Andra Petrochemicals Limited, Oxea GmbH, Fitesa Simpsonville Inc., Grupa Azoty S.A., Mitsubishi Chemical Corporation, and Toray Industries Inc.
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