The global High Purity Isobutylene market size was valued at USD 3.8 billion in 2023, and it is anticipated to grow at a CAGR of 2.4% to reach USD 5.0 billion by 2036 during 2024-2036. Butyl Rubber dominates the global High Purity Isobutylene market accounting for around 50%, with announced investments in downstream applications High Purity Isobutylene market is projected to register strong growth during the forecast period.
High Purity Isobutylene is produced by the following processes, MTBE Cracking, TBA Dehydration, Isobutane Dehydrogenation and Cold Acid Separation. There are over 75 High Purity Isobutylene production facility in the world, MTBE Cracking dominates the market followed by TBA dehydration. Isobutane Dehydrogenation and Cold Acid Separation process accounts for nearly 35% of total installed capacity. ExxonMobil, LyondellBasell Industries, BASF and Songwon Corporation are the key players producing isobutylene using TBA dehydration.
Isobutylene production using MTBE process accounts for over 50% of the total High Purity Isobutylene capacity in 2023 and it is estimated to continue its dominance in the forecast period. China is one of the largest producer of High Purity Isobutylene using MTBE cracking process with players such as Cenway (Zhejiang Xinhui Synthetic New Materials), Sinostart (Dongming Qianhai Chemical Co., Ltd), CITIC Guoan Chemical Co., Ltd (Heze), Ningbo Haode Chemical Industry Co, Dongying Shitong Chemical Co., lTd, Dongying Qifa Chemical Co., ltd, Binzhou Yuhua chemical Co., ltd, Shandong Jingbo Petrochemical Company, Zibo Qixiang Petrochemical Co., ltd (Qixiang Tengda ), Shandong Chengtai Chemical Co., Ltd and Shandong Yuhuang Chemical Co., Ltd with a plant size of around 20-60 kilo tons.
Source: Secondary & Primary Research and Prismane Consulting estimates
The global High Purity Isobutylene capacity stood at 4500 kilo tons in 2023, and it is estimated to cross 6000 kilo tons by 2036 mainly driven by strong High Purity Isobutylene demand from downstream applications. Asia Pacific accounts for over 44% of the global High Purity Isobutylene capacity which translates to around 2000 kilo tons. North America and Europe together accounting for around 44% of the total capacity while all other regions including Central & South America, and Middle East & Africa together accounted for remaining share. During the forecast period, Asia Pacific around 1000 kilo tons of new capacity addition is estimated to come online mainly in China, India, South Kore and Other Southeast Asia countries. Western Europe and North America are net exporter of High Purity Isobutylene with average net export of 15 kilo tons and 30 kilo tons between 2016-2022. These regions are estimated to be net exporter of High Purity Isobutylene during the forecast period and no new major capacity for High Purity Isobutylene is expected during the forecast period.
The global High Purity Isobutylene market is dominated by Asia Pacific, North America and Western Europe together accounting for over 95% of the global market. All other regions including Central & Eastern Europe, Central & South America and Middle East & Africa accounted for remaining share. Asia Pacific on the back of China accounts for around 51% of the global High Purity Isobutylene market and it is projected to register a CAGR of 3.0% to reach USD 4.0 billion by end of 2036.
Source: Secondary & Primary Research and Prismane Consulting estimates
In terms of application High Purity Isobutylene market is segmented into Butyl Rubber, High Purity Polyisobutylene, Methyl Methacrylate (MMA) and Others. Butyl Rubber is estimated to be the largest consumer of isobutylene accounting for over 50% of the total demand. High Purity PIB and MMA together accounts for over 35% of the total High Purity Isobutylene market and Others accounts for remaining share. During the forecast period Butyl Rubber and High Purity Polyisobutylene are anticipated to witness highest growth owing to increasing investment in these products and rising demand of these products from end use industries such as Automotive, Construction and Others.
Source: Secondary & Primary Research and Prismane Consulting estimates
India High Purity Isobutylene market size was estimated to be around USD 0.2 billion; it is estimated to reach USD 0.3 billion by 2036, registering a CAGR of 3.0% during 2024-2036. Reliance and Vinati Organics are the two High Purity Isobutylene producer in India with installed capacity of around 230 kilo tons using MTBE cracking process. Butyl Rubber dominates the High Purity Isobutylene market followed by other application which includes antioxidants, additive, etc.
ExxonMobil, Lyondellbasell Industries, Enterprise Products Partners, Repsol (Polibutenos), Evonik, Lanxess, Yanshan PC, Kuraray, Songwon Corporation, Vinati Organics, Reliance, BASF, Sumitomo Chem. and Petro Rabigh are some of the leading High Purity Isobutylene producer in the world.
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