- 3 July 2019 22:06
The Isooctane Market segmented By Product Type, Application, And Region/Country
Global Isooctane Market: Introduction
Isooctane is used as anti-knocking agents in fuel additives applications owing to its higher octane rating. Gasoline is a liquid mixture of aliphatic hydrocarbons, which is derived from fractional distillation of petroleum. Fractional distillation of petroleum is combined with additives such as isooctane and aromatic hydrocarbons as it helps to boost the octane rating of gasoline and prevents engines from ‘knocking’. The global Isooctane Market is estimated to value at approximately US$ 99 Bn in 2019, and is expected to register a CAGR of 2.1%.
Global Isooctane Market: Dynamics
Growing usage of isooctane as an anti-knocking additives in gasoline is a major factor driving growth of the global isooctane market. These compounds are added to improve quality and efficiency of fuels, and are commonly used in gasoline engines. In addition, additives are added in fuel to increase knock resistance and help to prevent air-fuel mixture from self-igniting while in the engines.
Growing preference for isooctane additives over methyl tert-butyl ether (MTBE) is another factor supporting growth of the target market. Methyl tert-butyl ether, which is an organic compound with volatile, flammable, and colorless liquid is responsible for considerable soil and groundwater contamination. Increasing conversion of methyl tert-butyl ether facilities to isooctane production facilities in order to prevent groundwater contamination is another factor fueling growth of the global market.
Increasing use of renewable sources such as bio-isobutene for production of isooctane additives is another factor anticipated fuel growth of the global isooctane market in the near future. In addition, isooctane manufacturing companies also increasing production of these renewable sources in order to reduce harmful impact on environment caused by emission is a factor supporting growth of the target market.
Analysis By Segmentation:
The market report has been segmented on the basis of product type, application, and region/country. The product type segment includes gasoline blending, organic synthesis, and others. By application segment includes organic solvent, diluent, and others. The regions/countries covered in the analysis are North America, Europe, China, Japan, Middle East & Africa, India, South America, and Rest of the World.
By Product Type: The gasoline blending segment is expected to register highest CAGR of over 2% in terms of revenue over the forecast period
By Application: The diluent segment is expected to account for major share in terms of revenue in the global market and is expected to register highest CAGR of over 2% over the forecast period
By Region/Country: The market in China is projected to register highest CAGR of over 2.5% in the global isooctane market
Global Isooctane Market: Competitive Analysis
The research report on the global Isooctane market includes profiles of some of major companies such as Exxon Mobil Corporation, Royal Dutch Shell plc, British Petroleum Company PLC (BP plc.), DowDuPont Inc., Petróleos de Venezuela, S.A, Petróleo Brasileiro S.A., Valero Energy Corporation, Chevron Corporation, Kuwait National Petroleum Company (KNPC), Eni S.p.A., National Iranian Oil Company, and JTF International Holdings Ltd.
The Global Isooctane Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2019–2028 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global Isooctane market for 2018–2028.
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