High Purity Isobutylene Market Size was valued at USD 6.2 Billion in 2022. The High Purity Isobutylene industry is projected to grow from USD 6.6 Billion in 2023 to USD 12.0 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.62% during the forecast period (2023 - 2032). Growing demand for high-performance elastomers and plastics in the automotive and construction industries are the key market drivers enhancing the market growth.                 
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Market CAGR high purity isobutylene is being driven by the growing demand from the rubber industry. High purity isobutylene (HPIB) is widely utilized in the production of various rubbers such as butyl rubber, polyisobutylene, and others. Butyl rubber is used in adhesives, consumer goods, and pharmaceuticals. Aside from that, the substance is widely utilized in the manufacture of tires. The increasing usage of the product for roof repair appears to have fueled the rise of the butyl rubber business. Sporting equipment, automotive and mechanical goods, vibration isolation, and pharmaceutical closure are some of the other product applications. According to the Automotive Tyre Manufacturers' Association (ATMA), tyre output in India increased by 8% in 2019 to 1,919.81 lakh/numbers. Furthermore, India exported US$1,853,720,000 in rubber tires in 2019, a 1.6% increase over the previous year. Furthermore, anti-dumping tariffs placed by the US on Chinese tyres would help India's tyre exports rise in the next years, driving high purity isobutylene market growth in India for butyl rubber manufacture. Furthermore, with a thriving automobile industry, tire production in India is rising at an exponential rate. As a result, rising car production in India is pushing up demand for high purity isobutylene.
Additionally, high purity isobutylene vapours are heavier than air, and a flame can easily flash back to the source of the leak. The leak could be a liquid or a vapour leak. It can cause asphyxiation due to air displacement. As a result, HPIB is utilized in the production of isooctane, a high octane aviation fuel. High purity isobutylene is used as an addition to gasoline to increase octane performance. Furthermore, high purity isobutylene is widely used in the production of poly-isobutylene (PIB), which is primarily used in products such as fuel and lube additives, viscosity modifiers, and two-stroke motor oil, monograde engine oils, marine oils, gear and transmission fluids, and metalworking fluids, among other applications. According to the Petroleum Planning and Analysis Cell (PPAC), India's gasoline demand increased 10.5% in November 2019 compared to the same month in 2018. The total amount of fuel consumed was 18.77 million tons.
Furthermore, demand for high-performance elastomers and plastics, which are widely utilized in the automotive and construction industries, is increasing. High purity isobutylene is a critical raw ingredient in the manufacture of isobutylene-based elastomers such butyl rubber, which is utilized in tire manufacturing and other automotive applications. Growing need for high-performance elastomers and plastics is likely to increase demand for high-purity isobutylene, fueling market expansion.
The  High Purity Isobutylene Market segmentation, based on Methods includes C4 fraction separation, MTBE decomposition, isobutane dehydrogenation and others. One of the main segments in the high purity isobutylene market is isobutane dehydrogenation. This is because one of the key procedures for producing high purity isobutylene is isobutane dehydrogenation. The method involves dehydrogenating isobutane, which yields isobutylene and other byproducts. After that, the isobutylene is separated and refined to yield high purity isobutylene. The isobutane dehydrogenation process is widely utilized in the manufacture of high-performance elastomers and plastics used in a variety of industries including automotive, construction, and healthcare.
Figure1: High Purity Isobutylene Market, by Methods, 2022 & 2032 (USD Billion)Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The  High Purity Isobutylene Market segmentation, based on application, includes butyl rubber, polyisobutylene, tery-butylphenol series product, trimethylacetic acid, methyl-ally-chloride and others. Butyl rubber segment dominates the market in 2022 and is expected to increase at an 8.6% CAGR from 2022 to 2030. Butyl Rubber's superior product features in terms of tear strength, aging, and heat resistance in compared to natural rubber are expected to provide a positive scope for market expansion over the forecast period. India, as one of the largest pharmaceutical manufacturers, is projected to stimulate demand for butyl rubber in pharmaceutical closures. Furthermore, butyl rubber demand remains concentrated in the Indian tire business. Butyl rubber ticks most of the boxes as a raw material for tire manufacturing, making it a valuable commodity in the industry. Butyl rubber tires have great inflation pressure retention, making them a popular tire choice for a variety of vehicles, including passenger and commercial vehicles.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America dominates the high purity isobutylene market due to the presence of well-established automotive and construction industries, which are the key end-users of high purity isobutylene. The region is home to a large number of automobile manufacturers, who are increasingly integrating high-performance elastomers and plastics in their vehicles to enhance fuel efficiency and minimize pollution.
Further, the major countries studiedin the market reportare The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2: Â HIGH PURITY ISOBUTYLENE MARKET SHARE BY REGION 2022 (USD Billion)Â Â Â Â Â Â Â Â Â Â Â Â Â Â
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europen High Purity Isobutylene Market accounts for the second-largest market share because of the existence of several significant manufacturers in the region and the growing demand for high-performance materials in the automotive, construction, and healthcare industries. Further, the German High Purity Isobutylene Market held the largest market share, and the UK High Purity Isobutylene Market was the fastest growing market in the European region
The Asia-Pacific High Purity Isobutylene Market is expected to grow at the fastest CAGR from 2023 to 2032. This is because of the growing need for high-performance elastomers and plastics in the automotive and construction industries. Moreover, China’s High Purity Isobutylene Market held the largest market share, and the Indian High Purity Isobutylene Market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the High Purity Isobutylene Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their  footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, High Purity Isobutyleneindustry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the  High Purity Isobutylene industry to benefit clients and increase the market sector. In recent years, the High Purity Isobutylene industry has offered some of the most significant advantages to medicine. Major players in the High Purity Isobutylene Market, including G Zibo Qixiangtengda Chemcial Co., Ltd., Evonik Industries AG., TPC Group, Exxon Mobil Corporation,  Bioenergies, LyondellBasell Industries Holdings BV and others, are attempting to increase market demand by investing in research and development operations.
Exxon Mobil firm is a worldwide oil and gas firm headquartered in Houston, Texas, and the largest direct descendent of John D. Rockefeller's Standard Oil. The firm, which was formed by the merging of Exxon and Mobil in 1999, is vertically integrated across the whole oil and gas industry, and it also has a chemicals division that manufactures plastic, synthetic rubber, and other chemical goods. ExxonMobil is headquartered in the Houston suburb of Spring, Texas, but was founded in New Jersey. In 2019, ExxonMobil, a leading manufacturer of high-purity isobutylene, announced the expansion of its Baytown plant's production capacity. The expansion was designed to address the increased demand for high-purity isobutylene from a variety of end-use industries, including automotive, construction, and healthcare.
BASF SE is a European multinational corporation and the world's largest chemical producer. The company's headquarters are in Ludwigshafen, Germany. BASF has subsidiaries and joint ventures in over 80 countries and runs six integrated manufacturing sites as well as 390 other manufacturing locations throughout Europe, Asia, Australia, the Americas, and Africa. BASF has customers in over 190 countries and serves a wide range of sectors. Despite its size and reach, BASF has gotten little public notice since it stopped manufacturing and selling BASF-branded consumer electronics items. In 2020, BASF, a prominent manufacturer of high-performance plastics and elastomers, has announced the purchase of Solvay's polyamide division. The acquisition aims to broaden BASF's product offering in high-performance plastics and elastomers by leveraging Solvay's experience in high-purity isobutylene manufacturing.
In July 2021, Lanxess, a specialty chemicals firm, announced the acquisition of Emerald Kalama Chemical, a specialty chemicals manufacturer. Emerald's expertise in the manufacturing of high-purity isobutylene was used to broaden Lanxess' product offering in high-performance polymers and elastomers.
 In September 2020, TPC Group, a prominent producer of high-purity isobutylene, has announced an increase in production capacity at its Houston facility. The expansion was designed to address the increased demand for high-purity isobutylene from a variety of end-use industries, including automotive, construction, and healthcare.
In October 2019, Evonik, a specialty chemicals firm, announced the acquisition of PeroxyChem, a specialty chemicals manufacturer. The acquisition aims to broaden Evonik's product offering in high-performance elastomers and plastics by leveraging PeroxyChem's expertise in high-purity isobutylene manufacturing.
| Report Attribute/Metric | Details |
| Market Size2022 | USD 6.2Billion |
| Market Size 2023 | USD 6.6Billion |
| Market Size2032 | USD 12.0 Billion |
| Compound Annual Growth Rate (CAGR) | 7.62% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Methods, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Zhejiang Shunda New Material Co., Ltd., Sinopec Beijing Yanshan Company, Honeywell International Inc., Sumitomo Chemical Co., Ltd., PJSC Nizhnekamskneftekhim, Shandong Chambroad Petrochemicals Co. Ltd., Zibo Qixiangtengda Chemcial Co., Ltd., Evonik Industries AG., TPC Group, Exxon Mobil Corporation, Â Bioenergies, LyondellBasell Industries Holdings BV, Tasco Group, Songwon, and Saipem SpA |
| Key Market Opportunities | growing need for high-performance elastomers and plastics. |
| Key Market Dynamics | increased use in the automobile industry |
High Purity Isobutylene Market Highlights:
Frequently Asked Questions (FAQ) :
The High Purity Isobutylene Market size was valued at USD 6.2 billion in 2022.
The market is projected to grow at a CAGR of 7.62% during the forecast period, 2023-2032.
North America had the largest share in the High Purity Isobutylene Market
The key players in the market are Zibo Qixiangtengda Chemcial Co., Ltd., Evonik Industries AG., TPC Group, Exxon Mobil Corporation, Bioenergies, LyondellBasell Industries Holdings BV.
The isobutane dehydrogenation category dominated the market in 2022.
The Butyl Rubber had the largest share in the High Purity Isobutylene Market
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