The Global Bio-Isobutene Market is expecting more than 100% CAGR during 2021-26, reveals MarkNtel Advisors in their recent research report. The market is driven primarily by the rising focus on the social, economic, & environmental sustainability entwined with the mounting dependence on fossil fuels, i.e., leading to the rapid depletion of natural resources and augmenting the bio-isobutene production. Besides, since Bio-Isobutene is a bio-based variant of isobutene, it is capable of sufficing several end-user industries as an alternative to fuel & fuel additives, and personal care, among others.
Moreover, transportation, cosmetics, butyl rubber, lubricants, green plastics, and solvent industries are becoming prominent end-users of bio-isobutene, which is another crucial aspect that shall positively influence the market growth in the coming years.
Furthermore, fluctuations in the prices of raw materials and the changing dynamics of fuel standards, especially across the aviation industry, shall further stimulate the development of bio-isobutene and boost the global market, further states the research report, “Global Bio-Isobutene Market Analysis, 2021."
Demand for Straw derived Bio-Isobutene to Demonstrate Exponential Growth through 2026
The mounting focus of governments of different countries worldwide on environmental sustainability & their various initiatives for reducing excess wheat straws are generating significant growth opportunities for the leading market players to develop & upscale the production of straw-derived bio-Isobutene.
Additionally, with the rising need to replace the utilization of fossil fuel-based isobutene, the demand for bio-isobutene with properties of lubricants, adhesives, & sealants is propelling swiftly, which would augment the overall market growth over the forecast years.
Europe to Prevail its Dominance in the Global Bio-Isobutene Market during 2021-26
Various initiatives by governments across countries like France, the UK, Germany toward prioritizing the procurement of bio-products to address concerns over environmental degradation, coupled with their substantial investments in the Bio-Isobutene production, are the prime reasons behind the dominance of Europe in the Bio-Isobutene Market. The region acquired the largest market share in recent years, and the same trend is likely to be followed during 2021-26. Besides, an escalating amount of wheat straws and the burgeoning focus on the research & development of biochemicals are other crucial aspects stimulating the regional market growth, reveals MarkNtel Advisors in their research report, "Global Bio-Isobutene Market Analysis, 2021."
According to MarkNtel Advisors, the leading players in the Global Bio-Isobutene Market are BASF SE, Exxon Mobil Corporation, LanzaTech Inc., Songwon Industrial, Butamax Advanced Biofuels, LLC, Clariant, Lanxess AG, Eastman Chemical Company, INEOS, Sinopec Corp., Dow Chemicals, Gevo, Inc., Butagaz, & Global Bioenergies.
Key Questions Answered in the Study