異辛烷市場 - 預測(2022年∼2027年)
Iso-Octane Market - Forecast(2022 - 2027)
Iso-Octane Market size is forecast to reach $8.47 Billion by 2027, after growing at a CAGR of 7.86% during 2022-2027. The increased use of isooctane as an anti-crashing additive in petrol is the driving force behind the growth of the world market in isooctane. These compounds are used in petrol engines and are added to improve the quality and efficiency of fuels. Additives are also added into the fuel to enhance knock strength and prevent self-igniting of the air-fuel mixture in the motors. The growth of the Iso Octane Industry over the predicted period will also increase in increased demand for biologically based Iso-octane and increase consumption of Iso-Octane across various industrial verticals.
Iso-Octane Market Report Coverage
The report: "Iso-Octane Market - Forecast (2022-2027)", by IndustryARC, covers an in-depth analysis of the following segments of the Iso-Octane Industry.
By End Use: Automotive, Industrial, Pharmaceutical, Oil & Gas, Mining, Energy and Power Generation, Chemical, and Others
By Geography: North America, South America, Europe, Asia-Pacific (APAC), and Rest of World (Row).
Another factor that is expected to boost the global market growth in the near future will be the use of economical bio-iso octane which will prevent refiners from combining higher amounts of isooctane into their gasoline products. Moreover, growing market acceptance of isooctane by ma tor players is a predicted driver of growth on the target market.
Globally, the growth of the global value of iso-octane includes high-efficiency and advanced technology development, increasing industrial fuels demand, the strong development of the automotive industry, stringent government emission standards, and superior isooctane performance. Methyl tert-butyl ether is an organic liquid compound that can lead to significant soil and groundwater pollution and is volatile, inflammable, and colorless. More and more MTBE plants have been transformed into Isooctane production plants, another factor driving the growth of the international market, to avoid soil water pollution.
The application industries of Iso-Octane have been affected by the outbreak of COVID-19 palindrome. Iso Octane's and supply chain has been hampered by the temporary closures of the production industry and other industrial activities.
Iso-Octane Market Segment Analysis - By End Use
Automotive Sector held the largest share in the Iso-Octane Market in 2019 and is expected to rise at a CAGR of 6.35% in terms of revenue during the forecast period from 2022-2027. The Iso-octane market is expected to be driven in the near future by increasing the global automotive business. The Iso-octane market is driven mainly by global demand growth in automotive/motor cars, improved vehicle design capabilities and the importance of reduced weight and emission control. However, large amounts of Iso-octane or 2, 2, 4-trimethylpentane are harmful inhaled or ingested. In rare circumstances, there can be stronger reactions, which can limit the growth of the market for Iso-octane. The increased use of electric vehicles is however an important factor that is expected in the near future to curb global isooctane growth. In order to encourage use of electric vehicles in order to reduce dependence on fossil fuels, more and more government initiatives could have an impact on the growth of the target market.
Iso-Octane Market Segment Analysis - By Geography
Asia-Pacific (APAC) dominated the Iso-Octane Market with a share of 37% in 2019 and is projected to dominate the market during the forecast period (2022-2027). In terms of global market revenues, the Chinese market accounts for the second highest share. Strict government rules and rising emphasis on carbon emissions reduction are the key factor which will drive isooctane development in the region. Moreover, an increase in government efforts to reduce gasoline use and carbon footprint is expected to contribute to market growth. Increased investments in R&D and ma tor manufacturers' presence in countries in this area and increasing use of isooctane as a fuel additive are the factors that are expected to promote market growth. Increasing government efforts to improve heavy-duty vehicles and light-duty exhaust standards are also a factor expected to drive growth of the isooctane market in this area.
Iso-Octane Market Drivers
The growth of the target market is the increasing preference of isooctane additives for methyl tert-butyl ether (MTBE). A substantial soil and groundwater contamination is due to methyl tert-butyl ether, an organic compound with volatile, inflammable, and colorless liquid. Another aspect that fuels demand on the global market is the intensified conversion of methyl tert-butyl ether into isooctane processing plants to avoid groundwater pollution. Another anticipated cause of fuel growth in the global isooctane market is the increasing use of renewable sources such as bio isobutene for the manufacture of isooctane additives. In addition, isooctane processing firms often increase the production of these sustainable sources, which leads to the growth of the target market in order to minimize negative environmental consequences caused by pollution.
Iso-Octane Market Challenges
The impact of COVID-19 and the oil prices war are proving to be a two-pronged crisis for oil, gas, and chemicals companies. Oil prices are dropping due to failed agreements on production cuts and the need for chemicals and refined products is slowing from industrial slow-downs and travel restrictions in the wake of this global pandemic. Because of the effects of the COVID-19 coronavirus, global chemical production declined by 3.1 percent in March 2020. Although chemical production increased in some categories in January 2020 as compared to December 2019, production in February compared to January and in March compared to February declined in every category. Leading manufacturers are reducing capital and operational expenditure in the face of the crisis. Manufacturing operations for these companies have been scaled down to 40%-60% capacity due to labor shortages and disruptions in the supply of raw material. Despite hike in investment, the growth can be impacted by the COVID-19 pandemic crisis till the end of year 2020. Moreover, COVID-19 pandemic has further deteriorated the industry which is affected the Iso-Octane Market.
Iso-Octane Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Iso-Octane Market. Major players in the Iso-Octane Market are Shell, Exxonmobil, BP, DOW, ConocoPhillips, PDVSA, Petrobras, LUKOIL, Valero, Sabic, Chevron Corporation, KNPC, ENI, NIOC, and among others.
"*Financials would be provided on a best efforts basis for private companies"