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Market Overview
Bio-Isobutene is a chemical produced through fermentation of renewable resources, and various industries like transportation, rubber, and cosmetic use it.
According to the MarkNtel Advisors' research report, "Global Bio-Isobutene Market Analysis, 2021," the market is likely to grow at a CAGR of more than 100% during 2021-26. This growth attributes to the surging use of bio-isobutene as a fuel additive in aerospace, increasing demand for environment-friendly, socio-economic sustainable renewable resources, and burgeoning applications ranging from rubber, cosmetics, plastic, etc.
Besides, the introduction of stringent policies and rising government support for developing cleaner & alternate fuel due to growing greenhouse gas emissions & increasing oil-sourced fuel consumption is likely to propel the demand for bio-isobutene.
| Report Coverage | Details |
| Study Period | Historical Data: 2016-20 |
| Base Year: 2020 | |
| Forecast Period: 2021-26 | |
| Regions Covered | North America |
| Europe | |
| Asia-Pacific | |
| South America | |
| Middle East & Africa | |
| Unit Denominations | USD Million/Billion |
Market Segmentation
Straw derived Bio-Isobutene Holds Significant Market Share
Within the Type segment, straw-derived Bio-Isobutene held a significant market share in the Global Bio-Isobutene market in 2019 due to the increasing partnerships among companies toward wheat straw owing to the surging proportion of biogenic isobutene in gasoline and its burgeoning application in cosmetic products, lubricants, rubbers, and fuel additives.
Moreover, rising funding in R&D of innovative technologies for converting biological residues and wastes into greener products. Thus, this is further propelling the need for straw-derived bio-isobutene, says MarkNtel Advisors' in their research report, "Global Bio-Isobutene Market Analysis, 2021."
Fuel Segment Witness Robust Growth
Based on End-User, the Fuel segment is likely to witness robust growth in the Global Bio-Isobutene market over the forecast period. The boost in the consumption of oil-derived fuels like gasoline & petroleum negatively impacts the environment due to increasing levels of CO2 in the atmosphere.
The burgeoning emergence of renewable aviation fuel and rising concern for global warming & ocean acidification encourage alternate solutions like biofuel for road transportation, thereby promulgating the segment growth.
Regional Landscape
Europe Accounted for the Largest Market Share
Europe accounted for the largest market share in the Global Bio-Isobutene market in 2019. The growth attributes to increasing funding by European Union (EU) for producing wood-derived bio-isobutene for its use in jet fuel & gasoline and intensifying research & innovation for efficiently converting residual biomass into the generation of renewable isobutene.
Under the European Horizon 2020 program, the surging public-private partnership of the European Union and the Bio-Based Industries Consortium (BIC) allow companies under BIC to develop & commercialize bio-isobutene. Germany & France dominated the European region due to the strong foothold of giant market leaders, the introduction of research & innovative programs, and mounting demand for sustainable & alternative aviation fuels owing to robust growth in the aviation sector.
Market Driver
Increasing Inclination Toward Sustainable Renewable Resources
The surging government initiative to achieve carbon reduction targets across various end-user industries and increasing demand for alternate jet fuel have propelled the need for sustainable renewable resources. Moreover, the increased number of bio-isobutene demo plants due to the growing focus on its production is positively influencing the global market growth.
Competitive Landscape
According to MarkNtel Advisors, the major leading players in the global Bio-Isobutene market are Eastman Chemical Company, INEOS, Sinopec, BASF SE, Corp, Dow Chemicals, Exxon Mobil Corporation, LanzaTech Inc., Songwon Industrial, Butamax Advanced Biofuels, LLC, Clariant, Lanxess AG, Gevo, Inc., Butagaz, Global Bioenergies, etc.
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
A. The historical data has been provided since 2016, while the base year is 2020, and the data forecast is up to 2026.
A. The market size/industry size or the market value is measured in terms of USD Million and kilotons.
A. The Global Bio-Isobutene Market is forecast to grow at a CAGR of more than 100% during 2021-26.
A. Eastman Chemical Company, INEOS, Sinopec, BASF SE, Corp, Dow Chemicals, Exxon Mobil Corporation, LanzaTech Inc., Songwon Industrial, Butamax Advanced Biofuels, LLC, Clariant, Lanxess AG, Gevo, Inc., Butagaz, Global Bioenergies are a few of the leading players in the Global Bio-Isobutene Market.
A. Straw-derived Bio-Isobutene can certainly attain the highest CAGR during the forecast period and maintain its substantial market share.
A. Asia-Pacific continues to grow at the highest CAGR, thereby offering immense opportunities for market leaders of the Global Bio-Isobutene Market.
