High Purity Isobutylene Market Revenue Share Analysis, Growth Forecast, 2022–2030
Market Snapshot The High Purity Isobutylene (HPIB) Market is projected to travel on an upward trajectory over the next several years. During the projection period 2022-2030, the market is set to record a CAGR of 7.06% and a value of USD 7 billion. Market Highlights Over the years, demand for HPIB has increased in regions such as APAC, LatAm and MEA, fast-developing countries. This is attributed largely to these areas being increasingly industrialized. The growth of the automobile industry has had a positive influence on the global HPIB demand in these areas. HIPB is a desirable raw material in the manufacture of automobile rubber. Many of the major players are looking at developing markets to boost their position on the market. Such factors promote growth in the global HPIB market . Moreover, the increased use of isobutylene in the manufacture of gasoline and lubricant additives in part drives global demand. In fuel and lubricant additives, this substance essentially ...