According to a recent report by Transparency Market
Research (TMR), the global 2-methylpronene market is market by the
presence of a few established players such as Evonik Industries AG,
BASF SE, TPC Group, and Lyondell Basell Industries N.V. These players
are equipped with strong financial might and technical expertise for
the production of 2-methylproene and similar products. However, the
report anticipates the entrance of several new players in this market
in the near future, which will further intensify the competition. The
leading players are expected to rely on their strong distribution and
sales network to maintain their stronghold over the market.
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The TMR report evaluates that the global
2-methylpropene market was worth US$26.99 bn in 2015, and rising at a
robust CAGR of 7.07% during the forecast period of 2016 to 2024, the
valuation is estimated to reach US$49.91 bn by 2024. In terms of
volume, the market is expected expand at a CAGR of 6.21% during the
same forecast period.
Fuel and Lubricants Segment Remains Prominent
By product, the report segments the global
2-methylpropene market into polyisobutylene, butyl rubber, isooctane,
MTBE, MMA monomer, and others including plastics and ETBE. Out of
these, the segment of isooctane contributed to 36.67% of the demand
in 2015, marginally more than MTBE, which is the second most
significant 2-methypropene market segment. This extended demand for
isooctane is a reflection of its growing application as a primary
component in aviation gasoline and as octane booster for gasoline.
Isooctane exhibit tremendous antiknock characteristic, and are
quickly replacing MTBE as a gasoline additive.
Application-wise, the report bifurcates the
2-methylpropene market into rubber manufacturing, adhesives and
sealants, fuel and lubricants, pharmaceuticals, antioxidants,
agrochemicals, and others including neopentaoic acid, methallyl
chloride, and plastic explosives. Fuel and lubricants segment
currently serve the maximum demand, owing to the steady growth of the
global automotive industry.
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Geographically, the report detects North America as
the most lucrative region, constituting for 34.16% of the shares in
2015, although the demand is expected to experience moderate growth
rate due to various environmental and health hazards. On the other
hand, Asia Pacific is anticipated to expand the demand at most
prominent rate in the near future. Asia Pacific resides vast
population and several emerging economies with rapid
industrialization. In countries such as India and China, automotive
and aviation industry is touching new peaks each year, which is
clearly evident from extended demand for 2-methypronene market.
Excluding Japan, the region of Asia Pacific is expected to remain
prominent through-out the forecast period.
Bio-based 2-Methylpropene Replacing
Petroleum-based Variants
Apart from extending demand from the automotive and
aviation industries, the global 2-menthylpropene market continues to
gain sustained demand for MTBE, owing to government regulations
pertaining to water contamination, environmental pollution, and
health hazards. Increasing use of rubber products across several
industries and the expansion of existing production facilities are
some of the other factor that will fuel the demand for
2-menthylpropene during the forecast period. Conversely, the
fluctuations in the prices of crude oil is expected to hinder the
demand of 2-methylpropene-based products, especially MTBE, which is
also losing popularity for its harmful properties.
According to the author of the report, “Bio-based
2-menthylpropene products are now quickly replacing petroleum-based
variants. With growing trend of investments for renewable sources of
energy across the world, the demand for bio-based products are
gaining popularity. This factor will open new opportunities for the
players in this market.”
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The information presented in this review is based on
a Transparency Market Research report, titled, “2-Methylpropene
Market (Product - Butyl Rubber, Polyisobutylene, MMA Monomer,
Isooctane, MTBE, Plastics, and ETBE; Application - Rubber
Manufacturing, Pharmaceuticals, Fuel and Lubricants, Adhesives and
Sealants, Antioxidants, Agrochemicals, Plastic Explosives,
Neopentaoic Acid, and Methallyl Chloride) - Global Industry Analysis,
Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
Key Segments of the Global 2-Methypropene Market
2-Methylpropene Market: By Product
- Butyl Rubber
- Polyisobutylene
- MMA Monomer
- Isooctane
- MTBE
- Others(Plastics, ETBE)
2-Methylpropene Market: By Application
- Rubber Manufacturing
- Pharmaceuticals
- Fuel & Lubricants
- Adhesives & Sealants
- Antioxidants
- Agrochemicals
- Others(Plastic Explosives, Neopentaoic Acid, and Methallyl Chloride)
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