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The methyl isobutyl carbinol (MIBC) market share is expected to increase by USD 78.75 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.02%.
This methyl isobutyl carbinol market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers MIBC market segmentation by end-user (building and construction, mining, automobile, aerospace, and others) and geography (APAC, North America, Europe, South America, and Middle East and Africa).
Download the Free Report Sample to Unlock the MIBC Market Size for the Forecast Period and Other Important Statistics
The methyl isobutyl carbinol market report also offers information on several market vendors, including Akzo Nobel NV, Aug. Hedinger GmbH and Co. KG, Cameo Chemicals, Celanese Corp., Cetex Petrochemicals Ltd., Eastman Chemical Co., Hebei Xinji Chemical Group Co.Ltd., Mitsubishi Chemical Corp., Mitsui Chemicals Inc., Monument Chemical, Redox Pty Ltd., Royal Dutch Shell Plc, Solvay SA, Stobec Inc., Sumitomo Chemical Co. Ltd., Wego Chemical Group Inc., WEIFANG YI HUA CHEMICAL CO. LTD., Arkema SA, BASF SE, and Dow Inc. among others.
The increasing demand from the construction industry is notably driving the MIBC market growth, although factors such as the hazardous effects of MIBC derivatives may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the methyl isobutyl carbinol (MIBC) industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key MIBC Market Driver
One of the key factors driving the global methyl isobutyl carbinol market growth is the increasing demand from the construction industry. Construction is currently a growing business in various rising economies in the Asia-Pacific and South America. In seasonally adjusted figures, private sector dwellings climbed 15.1% monthly and 57.5% annually in February 2021, according to the Australian Bureau of Statistics (ABS). According to the United States Census Bureau, in the fourth quarter of 2019 (October to December), repair and maintenance of non-housing and public housing grew by 1.6% and 0.9 %, respectively, in the UK. Furthermore, construction output in November 2020 was 0.6% higher than in February 2020, with repair and maintenance work increasing by 7.4%. Such factors are expected to drive market growth during the forecast period.
Key MIBC Market Trend
Increasing demand from the flourishing automotive industry is one of the key methyl isobutyl carbinol market trends that is expected to impact the industry positively in the forecast period. For instance, according to the Federation of Automobile Dealers Associations (FADA), passenger car sales in India in November 2020 were 291,001 units, up from 279,365 units in November 2019, a 4.17% increase. In addition, in the latter half of 2020, to maintain the social distancing norms and to avoid exposure to COVID-19 infection people started preferring their own personal vehicles for travelling purposes. Moreover, in 2018, the total demand for electric vehicles in Japan reached 27,000 units, a 250% increase over the preceding ten years. In 2018, 1.4 million HVs were sold, representing a 130 per cent raise over the previous ten years. Thus, the demand for methyl isobutyl carbinol, which is used in the production of lube oil additives, may increase as lube oil demand rises in the forecast period.
Key MIBC Market Challenge
One of the key challenges to the global methyl isobutyl carbinol market growth is the hazardous effects of MIBC derivatives. Changes in demand and the availability of alternatives are also expected to have a detrimental influence on the industry in the near future. Acute (short-term) MIBC exposure can cause human weariness, headache, nausea, lightheadedness, vomiting, dizziness, incoordination, and narcosis by irritating the eyes and mucous membranes. Chronic long-term occupational exposure to methyl isobutyl ketone has been linked to nausea, headaches, eye burning, lethargy, insomnia, gastrointestinal pain, and minor liver enlargement in humans. Such factors are expected to limit the MIBC market growth in the coming years.
This methyl isobutyl carbinol market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
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44% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for methyl isobutyl carbinol (MIBC) in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The significant increase in the demand for chemicals from the mineral ore processing industry will facilitate the MIBC market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
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The methyl isobutyl carbinol market share growth by the building and construction segment will be significant during the forecast period. The significant increase in the demand for MIBC in paints and surface coatings in the building industry will drive market growth through this segment in the coming years.
This report provides an accurate prediction of the contribution of all the segments to the growth of the MIBC market size and actionable market insights on post COVID-19 impact on each segment.
Technavio categorizes the global methyl isobutyl carbinol (MIBC) market as a part of the global speciality chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the methyl isobutyl carbinol market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the MIBC market encompasses successful business strategies deployed by the key vendors. The methyl isobutyl carbinol market is fragmented and the vendors are deploying growth strategies such as partnerships and collaborations to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The MIBC market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the methyl isobutyl carbinol market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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Methyl Isobutyl Carbinol (MIBC) Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.02% |
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Market growth 2022-2026 |
$ 78.75 million |
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Market structure |
Fragmented |
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YoY growth (%) |
1.8 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 44% |
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Key consumer countries |
US, Canada, China, Japan, and Germany |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Akzo Nobel NV, Aug. Hedinger GmbH and Co. KG, Cameo Chemicals, Celanese Corp., Cetex Petrochemicals Ltd., Eastman Chemical Co., Hebei Xinji Chemical Group Co.Ltd., Mitsubishi Chemical Corp., Mitsui Chemicals Inc., Monument Chemical, Redox Pty Ltd., Royal Dutch Shell Plc, Solvay SA, Stobec Inc., Sumitomo Chemical Co. Ltd., Wego Chemical Group Inc., WEIFANG YI HUA CHEMICAL CO. LTD., Arkema SA, BASF SE, and Dow Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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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 report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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