The Isobutyl Benzene Market size is forecast to grow at a CAGR of 5.2% during 2022-2027, owing to the rising demand from various end-use industries such as pharmaceuticals, personal care, chemical, and more. Para-isobutyl acetophenone can be made from isobutyl benzene in the presence of an aluminum chloride catalyst when isobutyl benzene is acylated with acetyl chloride. The rising pharmaceutical and industrial manufacturing industries are fueling the growth of the isobutyl benzene industry. Apart from that, isobutyl benzene is used in the production of perfumes and Ibuprofen, which is fueling the expansion of the isobutyl benzene market. All these factors are driving the growth of the isobutyl benzene market and are anticipated to drive growth in the future forecast period.
COVID-19 Impact
The isobutyl benzene market was affected by the COVID-19 pandemic in 2020, due to the strict lockdown guidelines. Furthermore, only the production of essential items was allowed which impacted the production of non-essential items such as cosmetics. For instance, according to the Cosmetics Toiletry and Perfumery Association (CTPA), in the year 2019 global level retail sales of cosmetics products was at retail sales price was at €9.29 billion (US$10.4 billion) and in 2020 it was €8.71 billion (US$9.9 billion), there was a decline of approximately 6.2%, due to this decline the demand for isobutyl benzene was impacted. However, When COVID-19 instances began to rise in early 2021, a lockdown was enforced, but the market was opened by allowing a lesser number of workers, and thus the isobutyl industry did not suffer as much loss as it did in 2020. The influence of COVID-19 is anticipated to be reduced by mid-2022, resulting in a market condition for isobutyl benzene before the COVID-19 pandemic.
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Report Coverage
The report: “Isobutyl Benzene Market–Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Isobutyl Benzene Market.
By Type: Industrial Grade, Pharmaceutical Grade, and Bio Grade.
By Purity: <98% and >99%
By Application: Surfactant, Analgesic, Ibuprofen, Anti-inflammatory, Painkillers, Feedstock, Fragrance, and Others.
By End-Use Industry: Personal Care (Perfume and Cosmetics), Pharmaceutical, Chemical, Industrial (Metals, Oil and Gas, and Others), and Others
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East (Saudi Arabia, UAE, Israel, and Rest of Middle East), and Africa (South Africa, Nigeria, and Rest of Africa))
Key Takeaways
- Asia-Pacific region dominates the isobutyl benzene market, owing to the increasing demand from the pharmaceuticals industry in the region. For instance, according to the Economic Survey of India 2021, the pharmaceutical industry of India is expected to reach US$65 billion.
- It is widely used in pharmaceutical medicines because an isobutyl benzene property gives the benefit of an organic compound, which has resulted in the increased demand for the isobutyl benzene industry.
- Isobutyl benzene is widely used across the industry because it gives the advantage of increased aroma and increased organic compound, which has resulted in the increased demand for the isobutyl benzene industry.
- However, safety concerns related to the handling of the isobutyl benzene are posing as a roadblock for the isobutyl benzene market growth.
Figure: Asia-Pacific Isobutyl Benzene Market Revenue, 2021-2027 (US$ Million)
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Isobutyl Benzene Market Segment Analysis – By Type
The pharmaceutical grade segment held the largest share in the isobutyl benzene market in 2021. The pharmaceutical grade isobutyl benzene is manufactured under Good Manufacturing Practices (GMF). The use of pharmaceutical-grade isobutyl benzene has been approved by the Food and Drug Administration (FDA), which has increased the demand for the pharmaceutical grade industry. Moreover, pharmaceutical-grade isobutyl benzene application is allowed in the manufacturing of medical drugs related to analgesic, ibuprofen, anti-inflammatory, and painkillers, the increase in the demand for these medical drugs leads to the growth of the isobutyl benzene industry. Thus, it is anticipated that the increasing demand for a pharmaceutical-grade will drive the growth of the isobutyl benzene market.
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Isobutyl Benzene Market Segment Analysis – By Purity
The > 99%segment held the largest share in the isobutyl benzene market in 2021. The >99% purity is of isobutyl benzene that is used in the manufacturing of perfumes and pharmaceutical products, the growing demand for these sectors has resulted in the growth in the demand of the isobutyl benzene industry. The high purity level of the isobutyl benzene increases the aromatic effect of the perfumes. > 99% gives the advantage of neutral and organic properties which are useful for the manufacturing of pharmaceutical drugs. Thus, it is anticipated that the increasing demand for > 99% purity of isobutyl benzene will drive the growth of the isobutyl benzene market.
Isobutyl Benzene Market Segment Analysis – By Application
The ibuprofen segment held the largest share in the isobutyl benzene market in 2021 and is growing at a CAGR of 4.8% during 2022-2027. Ibuprofen is used over other drugs because it prevents the body from creating inflammation. The neutral and organic chemical properties of isobutyl benzene are best suited for the manufacturing of ibuprofen. Furthermore, ibuprofen is a widely used drug for the treatment of ankylosing spondylitis, osteoarthritis, rheumatoid arthritis, and other non-rheumatoid arthritis. The growing demand for ibuprofen is due to its benefits in multiple diseases which is leading to the growth of the isobutyl benzene industry. Due to these factors, the demand for ibuprofen is increasing which is anticipated to drive the growth of the isobutyl benzene market in the forecast period.
Isobutyl Benzene Market Segment Analysis – By End-Use Industry
The pharmaceutical segment held the largest share in the isobutyl benzene market in 2021 and is growing at a CAGR of 5.8% during 2022-2027. The pharmaceutical industry uses isobutyl benzene over other chemicals in the manufacturing of medical drugs because it gives the advantage of basic organic raw material, which best suits the production properties of the pharmaceutical industry. The demand for the pharmaceutical industry is growing and this has resulted in the growth of the isobutyl benzene industry, for instance, according to the International Federation of Pharmaceuticals Manufacturers and Association (IFPMA), in 2018 the global sales of pharmaceuticals was at US$1205 billion and in 2019 it increased to US$1245 billion, with an increase of 3.3%. Thus, the increasing demand for the pharmaceutical industry is anticipated to drive the growth of the isobutyl benzene market in the forecast period.
Isobutyl Benzene Market Segment Analysis – By Geography
Asia-Pacific region held the largest share in the isobutyl benzene market in 2021 up to 40% owing to its increasing pharmaceutical industry in the region, which is accelerating the demand for isobutyl benzene in the region. The governments across the Asia Pacific region are investing in the pharmaceutical industry development, which has increased the production of pharmaceutical drugs. For instance, according to the Indian Brand Equity Foundation (IBEF), in June 2021, the Indian government announced US$26.78 billion towards the pharmaceutical sector. Moreover, it is forecast that the domestic Indian pharmaceutical market will reach US$65 billion by 2024, this will accelerate the demand for the isobutyl benzene industry. Apart from this, South Korean pharmaceutical production is increasing which is benefiting the growth of the isobutyl benzene industry. For instance, according to Korean Health Industry Development Institute (KHIDI), in the year 2018, the total production of pharmaceutical products was valued at US$21.11 billion, and in 2019 it increased to US$22.31 billion, with an increase of 5.7%. Thus, the growing pharmaceutical industry of the Asia Pacific region will increase the demand for isobutyl benzene and it is anticipated to drive the growth of the isobutyl benzene market in the future forecast period.
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Isobutyl Benzene Market Drivers
Rapid Growth of the Perfume Industry
In comparison with other chemicals, isobutyl benzene has a sweet odor that is fruity, cherry sweet with a balsamic tone. As a result of this characteristic, its demand in the perfume industry is expanding. Its solid acid catalyst is used for the aromatic substances in the perfume industry. The demand for the perfumes industry is growing at a global level. For instance, according to the Cosmetics Toiletry and Perfumery Association (CTPA), in the year 2019, the global sales of unisex fine fragrances were at €38.69 million (US$43.31 million) and in 2020 it increased to approximately €50 million (US$51.11 million), an increase of 29.1%. Moreover, in 2019 the global sales of unisex mass fragrances were €3.23 million (US$3.62 million) and in 2020 it increased to €4.57 million (US$5.22 million), with an increase of 41.5%. Thus, the increasing demand for the perfume industry is anticipated to drive the growth of the isobutyl benzene market.
Growth in the Industrial Use
Isobutyl benzene is a colorless, odorless, and liquid compound used in many industries such as oil and gas, metal, and others. The production of steel is gradually increasing. For instance, according to the World Steel Association, in the year 2018, the total world steel production was 928.26 million tonnes and in 2020 it increased to 996.34 million tonnes, with an increase of 7.3%. Moreover, the increasing oil and gas industry is also driving the growth of the isobutyl benzene market. For instance, according to U.S Energy Information Administration, in the year 2018 total of 3.99 billion barrels of crude oil was extracted, and in 2019 it increased to 4.49 billion barrels of crude oil, an increase of 12.8%, with an increase in the crude oil extraction the demand for the oil and gas is increasing. Thus, the growing production of steel and oil & gas industries is driving the growth of the isobutyl benzene industry.
Isobutyl Benzene Market Challenges
Safety Concerns Related to the Handling of the Isobutyl Benzene
Isobutyl benzene is highly inflammable and its splash can result in severe burns. The contraction between aromatic hydrocarbon such as CYMENE, and a strong oxidizing agent can result in a vigorous reaction, sometimes amounting to blast. Isobutyl benzene can react exothermically with diazo compounds and with base. It has been made mandatory to use a label showing handle with care and it is compulsory to display all the safety measures on the packaging of the product. Moreover, precautionary measures such as the use of gloves and goggles are advised while dealing with isobutyl benzene. Due to challenges such as safety concerns and material handling issues the isobutyl benzene market growth is affected.
Isobutyl Benzene Industry Outlook
Technology launches, acquisitions, and increased R&D activities
