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Iso-Octene Market

Market Insights on Iso-Octene covering sales outlook, demand forecast & up-to-date key trends

Iso-Octene Market By Functions (Chemical Intermediates and Additives), End Use (Chemicals, Oil & Gas and Others) & Region - Forecast 2022-2032

Iso-Octene Market Overview

Global Iso-Octene demand is anticipated to be valued at US$ 5.3 Billion in 2022, forecast to grow at a CAGR of 5.2%to be valued at US$ 8.8 Billion from 2022 to 2032.

Report Attribute

Details

Estimated Base Year Value (2021)

US$ 5 Billion

Expected Market Value (2022)

US$ 5.3 Billion

Anticipated Forecast Value (2032)

US$ 8.8 Billion

Projected Growth Rate (2022-2032)

5.2% CAGR

Iso-octene is a chemical compound that is stable, colorless, and organic. It is widely used as a raw material in a variety of industries for the synthesis of fine chemicals such as octyldiphenylamine, octylphenol, isodecyl alcohol, and octylamine. During the dimerization of isobutylene, some n-butylene molecules react with isobutylene, resulting in the formation of dimer compounds. Iso-octene refers to the dimer compounds that have a di-isobutylene structure. It has a higher octane number, close to that of MTBE, a gasoline additive.

The olefinic nature of this chemical compound, on the other hand, is a major concern because it causes hydrogenation, which results in the formation of iso-octane. Furthermore, isobutylene dimerization produces tetradecene, trimeric dodecene, and pentapoly in addition to iso-octene. Iso-octane, which is produced by hydrogenating iso-octene, can be used as a fuel additive and chemical intermediate. The benefits of iso-octene and iso-octane include, among other things, the absence of sulphur, the absence of olefin, the absence of aroma, and the low vapor pressure, which is why these compounds are used as MTBE substitutes.

Which are Some Prominent Drivers Spearheading Iso-Octene Market Growth?

Industrially, iso-octene has gained significant traction since the ban on the use of MTBE as a gasoline additive, which has a number of negative environmental effects. Currently, nearly 15% of additives are blended with gasoline fuel in the United States, and this trend is expected to continue in the coming years. One of the major factors expected to fuel the growth of additives such as octane improvers, cleaning additives, and antifoaming agents is the growing preference for gasoline fuel with complete combustion characteristics and low pollutant emissions.

Furthermore, demand for fuel additives such as iso-octene is expected to rise during the forecast period in order to maintain the octane rating of gasoline fuel. Furthermore, rising environmental concerns and stringent government regulations in Europe and North America are driving the global renewable iso-octene market. Furthermore, the low investment required to convert an MTBE production line into an iso-octene line is expected to encourage MTBE manufacturers to enter the iso-octene business.

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What are the Challenges Faced by the Iso-Octene Industry?

Inhaling or ingesting large amounts of iso-octene is hazardous. In rare cases, a stronger reaction may occur, which could limit the growth of the iso-octane market.

Why is Asia-Pacific emerging as an Opportunistic Iso-Octene Market?

Several countries, including Brazil, Malaysia, and China, are focusing on increasing gasoline blending percentages, which is expected to help drive iso-octene demand in the near future. Significant growth in the Asia Pacific region's transportation and chemical sectors, particularly in China and India, is also expected to drive demand for iso-octene over the forecast period. Furthermore, the APAC region is expected to grow at a healthy rate over the forecast period as a result of recent government regulations governing gasoline blending in emerging economies such as India, China, and others.

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How is Europe Contributing to Growth of the Iso-Octene Market?

According to Future Market Insights, Strict regulatory guidelines governing the use of gasoline are expected to be among the major factors driving demand for iso-octene in Europe. Various European governments have planned to use around 10% biofuels in the transportation sector, which is expected to increase demand for fuel additives such as iso-octene over the forecast period.

Market Competition

Some of the key participants present in the global Iso-Octene market include Gevo, Inc., VALERO ENERGY CORP, Gelest Inc., Vitol Inc., TCI Chemicals (India) Pvt. Ltd., JiangYin WuYang Chemical Co., Ltd., Shanghai Terppon Chemical Co., Ltd. and BOC Sciences among others.

Attributed to the presence of such high number of participants, the market is highly competitive.

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Scope of Report

Report Attribute

Details

Growth Rate

CAGR of 5.2% from 2022 to 2032

Base Year for Estimation

2021

Historical Data

2015-2020

Forecast Period

2022-2032

Quantitative Units

Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis

Segments Covered

  • Functions
  • End Use
  • Region

Regions Covered

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific
  • Japan
  • Middle East and Africa

Key Countries Profiled

  • U.S
  • Canada
  • Brazil
  • Argentina
  • Germany
  • U.K
  • France
  • Spain
  • Italy
  • Nordics
  • BENELUX
  • Australia & New Zealand
  • China
  • India
  • ASEAN
  • GCC
  • South Africa

Key Companies Profiled

  • Gevo, Inc.
  • VALERO ENERGY CORP
  • Gelest Inc.
  • Vitol Inc.
  • TCI Chemicals (India) Pvt. Ltd.
  • JiangYin WuYang Chemical Co., Ltd.
  • Shanghai Terppon Chemical Co., Ltd.
  • BOC Sciences

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Key Segments Profiled in the Iso-Octene Industry Survey

Functions:

  • Chemical Intermediates
  • Additives

End Use:

  • Chemicals
  • Oil & Gas
  • Others

Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific
  • Japan
  • Middle East & Africa

Frequently Asked Questions

FMI projects the global Iso-Octene market to expand at a 5.2% value CAGR by 2032.

Asia Pacific is expected to be the most opportunistic Iso-Octene market.

Gevo, Inc., VALERO ENERGY CORP, Gelest Inc., Vitol Inc., TCI Chemicals (India) Pvt. Ltd., JiangYin WuYang Chemical Co., Ltd., Shanghai Terppon Chemical Co., Ltd. and BOC Sciences are some prominent Iso-Octene manufacturers

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Nikhil Kaitwade
Principal Consultant
LinkedIn
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