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The Isobutyl Benzene Market size is estimated to increase by USD 18.7 million and grow at a CAGR of 5.25% between 2022 and 2027. The growth of the market depends on several factors such as the high demand for ibuprofen, the high production in APAC, and the increase in demand in the fragrances and perfumes industry. Substantial market growth is underway, driven by heightened demand within the fragrances and perfumes sector. This adaptable compound acts as a highly effective solvent in the production of perfumes and personal care items, providing exceptional solvency and fragrance. Its utility extends beyond the fragrance industry to pharmaceuticals and chemicals, where it finds application in coatings, surfactants, and various formulations.
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This market report extensively covers market segmentation by application (coating, surfactant, medicine, and others), end-user (pharmaceutical, chemical, textile industry, and others), and geography (APAC, Europe, North America, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
The coating segment is estimated to witness significant growth during the forecast period. It is commonly used as a solvent in coatings due to its excellent solubility properties. This allows the formulation and application more easily by dissolving a number of different resins, pigments, or other coating components. One of the key advantages of 2-methylpropylbenzene in the coating is its ability to improve the flow and leveling properties of the coating.
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The coating segment was the largest segment and was valued at USD 22.67 million in 2017. It also contributes to the drying and curing process of coatings, allowing them to harden and form a durable protective layer. The demand for isobutylene benzene on the world market has been driven by a growing need for coatings in construction, automobiles, and industry. The increasing construction activities, infrastructure development, and rising automotive production will contribute to the growth of the coating segment in the global market during the forecast period.
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APAC is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The growing pharmaceutical and cosmetics industries in the region accelerate the demand. Factors such as low labor cost, easy availability of raw materials, and availability of highly skilled labor significantly increase the production rate in the region. APAC exports most of its produce to North America and Europe.
Moreover, APAC is an active market in terms of strategic initiatives undertaken by key manufacturers. These strategies include expanding production capacities and setting up new production plants. Due to the rapid increase of competition, as well as ongoing demand growth in some end uses for 2-methylpropylbenzene, this market is becoming more and more developed. Several leading companies make huge investments in the region's chemical industry and set up production sites because of a favorable competitive environment and few regulations.
The Market is experiencing significant growth across various industries, driven by its versatile applications and lucrative opportunities. Para-isobutyl acetophenone, used as a precursor, is catalytically synthesized with aluminum chloride catalyst and acetyl chloride, catering to the pharmaceutical, personal care, and chemical industries. Isobutyl benzene finds applications in perfumes, coatings, and surfactants, owing to its organic, neutral, aromatic nature as a colorless liquid chemical compound. Pharmaceutical grade isobutyl benzene is particularly crucial in the production of ibuprofen and other pharmaceuticals. With expanding demand in the perfume industry and other sectors, isobutyl benzene presents promising prospects at the country level, supported by both quantitative and qualitative data, making it a key player in the chemical industry's growth trajectory. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The Market is experiencing significant growth, propelled by increased demand in the fragrances and perfumes industry. This versatile compound serves as an efficient solvent in perfume and personal care product manufacturing, offering excellent solvency and aroma. Its application extends to the pharmaceutical and chemical industries, where it is utilized in coatings, surfactants, and other formulations. The rising popularity of unisex scents and perfumes, particularly in European countries, contributes to the market's expansion. Major beauty conglomerates play a crucial role as licensed producers of fragrances, driving demand for isobutyl benzene. As demand continues to surge across various industries, lucrative opportunities emerge, fueling market growth during the forecast period. This growth trajectory is supported by both quantitative and qualitative data, reflecting the industry's potential at both country and global levels.
The capacity expansion of the facilities is a key trend in the market. Globally, in the last few years, there has been an increase in the production capacity. The market in India has registered rapid growth because of the increasing number of production capacities. Major producers have been forced to expand their production capacities due to high demand which is used in making Ibuprofen.
However, the production is primarily concentrated in developed economies. The growing demand and limited production capacity are leading to reliance on imports by producers. The emergence of new production facilities and capacity expansion of the existing production facilities can be expected during the forecast period.
The fluctuating crude oil prices are a major challenge in the market. The global market faces serious challenges due to the fluctuation of crude oil prices. Toluene and propylene are the major raw materials used for producing 2-methylpropylbenzene. As they are crude oil derivatives, fluctuations in crude oil prices hamper the production capacity and affect the cost of production of toluene and propylene. The petrochemical industry is greatly affected by the volatility in crude oil prices.
In recent years, the decline in oil prices has compelled players working in the oil and gas industry to implement cost-cutting measures such as workforce layoffs. Both natural gas and crude oil prices have a direct impact on the price. Volatility in raw material prices can have a major negative collision on the growth of the global market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Alfa Chemistry - The company offers iso butylbenzene such as 1 1 chloroethyl 4 isobutylbenzene with a purity of 96 percent.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The Market is witnessing steady growth, driven by its diverse applications in various industries. Isobutyl benzene, also known as 2-methylpropylbenzene, is a colourless liquid chemical compound with a sweet, fruity odour. It finds application as an aromatic hydrocarbon in the production of analgesics, anti-inflammatories, and painkillers in the pharmaceutical industry. Additionally, it is utilized in cosmetics, toiletries, and perfumes, meeting the standards set by regulatory bodies like the Food and Drug Administration (FDA) and the Cosmetics Toiletry and Perfumery Association (CTPA). Despite challenges such as shipping delays and raw material shortages, technological innovations and value chain optimization are creating lucrative opportunities in emerging revenue pockets. With increasing consumer buying behavior and economic factors influencing market dynamics, the Isobutyl Benzene Market is poised for continued growth in the projected period.
Moreover, the market is experiencing significant growth, driven by its diverse industrial applications and properties. Isobutyl benzene, also known as 2-methylpropylbenzene, finds extensive usage in the metal industry as an oxidizing agent and catalyst alongside aluminum chloride. Its balsamic nuance and cherry-like aroma make it a valuable ingredient in the perfume and personal care industries. With applications in pharmaceuticals and anti-inflammatory products, the market is witnessing product launches and approvals, adhering to Good Manufacturing Practices (GMP) standards. However, safety concerns regarding its inflammable nature necessitate careful material handling. The market's growth is influenced by factors such as country GDP, political changes, and social scenarios, underlining the importance of expert advice and comprehensive research methodologies to navigate both positive and negative changes effectively.
Isobutyl Benzene Market Scope |
|
Report Coverage |
Details |
Page number |
173 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.25% |
Market growth 2023-2027 |
USD 18.7 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.59 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 44% |
Key countries |
US, China, India, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alfa Chemistry, ALPHA CHEMIKA, Bizinbiz Technologies Pvt Ltd, IOL Chemicals and Pharmaceuticals Ltd., LGC Science Group Holdings Ltd., Loba Chemie Pvt. Ltd., Otto Chemie Pvt. Ltd., Ralington Pharma LLP, Sagechem Ltd., Santa Cruz Biotechnology Inc., Shandong Xinhua Pharmaceutical Co. Ltd., SI Group Inc., Sisco Research Laboratories Pvt. Ltd., Synthonix Inc., Thermo Fisher Scientific Inc., Tokyo Chemical Industry Co. Ltd., Vinati Organics Ltd., and Vizag Chemical International |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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