Global 2- Methylpropylbenzene (Isobutyl Benzene) Market, By Product Type (Pharmaceutical Grade, Industrial Grade, Bio Grade), End User (Pharmaceuticals, Coatings, Surfactants, Others) – Industry Trends and Forecast to 2030.
2-Methylpropylbenzene (Isobutyl Benzene) Market Analysis and Size
The 2-methylpropylbenzene (isobutyl benzene) is expected to grow significantly during the forecast owing to the increasing demand from numerous end user industries such as chemical, pharmaceuticals, personal care and many more. Moreover, the growing industrial and pharmaceutical manufacturing industries are expected to enhance the growth of the market. Apart from that, 2-methylpropylbenzene (isobutyl benzene) is used in the production of Ibuprofen and perfumes, improving the market's expansion during the forecast period.
Data Bridge Market Research analyses that the 2-methylpropylbenzene (isobutyl benzene) market is expected to reach USD 165.25 million by 2030, which is USD 108.50 million in 2022, registering a CAGR of 5.40% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
2-Methylpropylbenzene (Isobutyl Benzene) Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 - 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Pharmaceutical Grade, Industrial Grade, Bio Grade), End User (Pharmaceuticals, Coatings, Surfactants, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Thermo Fisher Scientific (U.S.), Merck KGaA (U.S.), TCI Chemicals (India) Pvt. Ltd. (Japan), IOL (India), SI Group, Inc. (U.S.), Vizag Chemicals (India), Vinati Organics Limited (India), Shandong Xinhua Pharma (China), Ralington Pharma (India), SynQuest Laboratories (U.S.)
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Market Opportunities
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Market Definition
2-Methylpropylbenzene (Isobutyl Benzene) is an organic, neutral, aromatic, and colourless liquid chemical compound with a specific gravity of about 0.852. It is also well-known as 2-methylpropylbenzene. Isobutyl benzene is a colourless chemical compound with a chemical formula C10H14. It is manufactured out of potassium carbonate, toluene, propylene, methanol sodium among other chemicals. It is a basic organic raw material that is used widely in the perfume and pharmaceutical industry.
2-Methylpropylbenzene (Isobutyl Benzene) Market Dynamics
Drivers
- Growing demand of 2-methylpropylbenzene (isobutyl benzene) in perfume industry
2-methylpropylbenzene (isobutyl benzene) is widely used as a basic raw material in the manufacture of various perfume products. 2-methylpropylbenzene (isobutyl benzene) is often used as a solid acid catalyst and a speciality solvent for the acylation of aromatic substances. The smell -methylpropylbenzene (isobutyl benzene) is a sweet, fruity and cherry-like odour with a balsamic nuance. These specific properties ve made isobutyl benzene a basic raw material for the perfume industry worldwide. Thus, the growing demand for 2-methylpropylbenzene (isobutyl benzene) in the perfume industry is expected to drive the market's growth rate during the forecast period.
- Growth and expansion in the Industrial usage
2-methylpropylbenzene (isobutyl benzene) is an odourless, colourless, and liquid compound which is used in many industries such as metal, oil and gas and others. The production of steel is progressively growing. For instance, as per the analysis of World Steel Association, the total world steel production was 928.26 million tonnes in the year 2018 and it increased to 996.34 million tonnes in 2020, with an increase of 7.3%. Furthermore, the growing oil and gas industry is also driving the growth of the market.
Opportunities
- Surging demand for pharmaceutical grade 2-methylpropylbenzene (isobutyl benzene)
The pharmaceutical grade isobutyl benzene is produced under Good Manufacturing Practices (GMF). The usage of pharmaceutical grade 2-methylpropylbenzene (isobutyl benzene) has been approved by the Food and Drug Administration, which has augmented the demand for the pharmaceutical grade industry. Furthermore, these benzene application is enabled in the production of medical drugs related to anti-inflammatory, analgesic, ibuprofen and painkillers, the rise in the demand for these medical drugs leads to the market growth. Thus, it is expected that the growing demand for a pharmaceutical grade 2-methylpropylbenzene (isobutyl benzene) will create immense opportunities for the growth of the market.
Restraints/ Challenge
- Safety concerns associated with handling of 2-methylpropylbenzene (Isobutyl Benzene)
Isobutyl benzene is extremely inflammable and its splash can cause severe burns. The contraction between a strong oxidizing agent and aromatic hydrocarbon such as CYMENE, can result in a vigorous reaction, sometimes amounting to blast. These compounds can react exothermically with base and diazo compounds. It has been made compulsory to use a label showing handle with care and it is necessary to display all the safety procedures on the packaging of the product. Furthermore, precautionary measures such as the use of goggles and gloves are advised while dealing with 2-methylpropylbenzene (Isobutyl Benzene). As a result of all these challenges such as material handling and safety concerns issues the isobutyl benzene market growth is affected.
This 2-methylpropylbenzene (isobutyl benzene) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the 2-methylpropylbenzene (isobutyl benzene) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Development
- In 2020, Vinati Organics Limited announced a development of INR 60 crores (US$8.6 million) for the production of specialty chemicals comprising isobutyl benzene.
Global 2-Methylpropylbenzene (Isobutyl Benzene) Market Scope
The 2-methylpropylbenzene (isobutyl benzene) market is segmented on the basis of product type and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Pharmaceutical Grade
- Industrial Grade
- Bio Grade
End User
- Pharmaceuticals
- Coatings
- Surfactants
- Others
2-Methylpropylbenzene (Isobutyl Benzene) Market Regional Analysis/Insights
The 2-methylpropylbenzene (isobutyl benzene) market is analyzed and market size insights and trends are provided by country, product type and end user as referenced above.
The countries covered in the 2-methylpropylbenzene (isobutyl benzene) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific is expected to dominate the 2-methylpropylbenzene (isobutyl benzene) market owing to high production of isobutyl benzene in India and China. These are some major countries expected to be the major markets for isobutyl benzene market in this region.
North America is expected to be the fastest developing region during the forecast period of 2023-2030 owing to growing demand for 2-methylpropylbenzene (isobutyl benzene) in pharmaceutical sector in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and 2-Methylpropylbenzene (Isobutyl Benzene) Market Share Analysis
The 2-methylpropylbenzene (isobutyl benzene) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to 2-methylpropylbenzene (isobutyl benzene) market.
Some of the major players operating in the 2-methylpropylbenzene (isobutyl benzene) market are:
- Thermo Fisher Scientific (U.S.)
- Merck KGaA (U.S.)
- TCI Chemicals (India) Pvt. Ltd. (Japan)
- IOL (India)
- SI Group, Inc. (U.S.)
- Vizag Chemicals (India)
- Vinati Organics Limited (India)
- Shandong Xinhua Pharma (China)
- Ralington Pharma (India)
- SynQuest Laboratories (U.S.)
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