Bio-Isobutene Market to Register Substantial Expansion by 2025


Posted January 12, 2021 by bisrsrch

Focus on Product, End Use, and Region-Level Analysis, 2020-2025
 
Currently, bio-isobutene project is being backed by the public-private partnership of the European Union and the Bio-Based Industries Consortium (BIC) under the European Horizon 2020 program. The companies under bio-based industries joint undertaking (BBI-JU) include Global Bioenergies, Clariant, Ineos, and TechnipFMC, which are involved in bio-isobutene development and commercialization. The product is expected to commercialize by 2022, and countries across the globe is anticipated to be dependent on countries such as Germany, and France to fulfill the demand for bio-isobutene during 2022-2025.

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The fuel grade bio-isobutene manufacturers and other potential players are anticipated to cater to the demand for various transportation industries such as aerospace and automotive. To push the demand for premium jet fuel application of specialty fuel grade bio-isobutene, partnership and collaboration strategies were adopted by some players. For instance, the pioneer of bio-isobutene, Global Bioenergies collaborated with the Germany-based Competence Center for Sustainable Aviation Fuel, Aireg, and the Netherlands-based SkyNRG BV for promotion of specialty fuel grade bio-isobutene.

Europe is currently the largest region in terms of both value and volume across the globe. Government regulations to promote the adoption of sustainable products are expected to propel the demand for high purity bio-isobutene over the forecast period (2022-2025). Furthermore, biofuel production in Europe is projected to grow at a rate of 166.67% per annum in the coming years.

France, along with Germany, is expected to dominate the bio-isobutene market in Europe. Post the COVID-19 outbreak, some oil & gas companies are planning to switch to cleaner bio-based fuels by processing and converting bio-based feedstocks such as wheat straw, sugarcane, sugar beet, and cereal wastes. For instance, Global Bioenergies is planning to start the commercial production of bio-isobutene at a large scale by 2022. In addition, BP and Total are planning to grow their bio-based fuel production by 2030 in order to reduce their global carbon footprints.

The demand for liquified petroleum gas (LPG) and natural gas in the transportation industry has grown at a slow rate of 1.8% per annum in the past five years (2016-2020), owing to regulatory policies in favor of cleaner and alternative fuels. In addition, many developed economies and countries of the European Union are promoting alternative and renewable energy sources for transport and polymer production. Besides, European Union countries and the U.S. have set a target to mitigate the greenhouse emissions by at least 25-30% by 2030. This, in turn, is expected to enhance the share of bio-based and renewable fuels in the coming decade (2020-2030).

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The demand for liquified petroleum gas (LPG) and natural gas in the transportation industry has grown at a slow rate of 1.8% per annum in the past five years (2016-2020), owing to regulatory policies in favor of cleaner and alternative fuels. In addition, many developed economies and countries of the European Union are promoting alternative and renewable energy sources for transport and polymer production. Besides, European Union countries and the U.S. have set a target to mitigate the greenhouse emissions by at least 25-30% by 2030. This, in turn, is expected to enhance the share of bio-based and renewable fuels in the coming decade (2020-2030).

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Contact Email [email protected]
Issued By BIS RSRCH
Country United States
Categories Business , News , Research
Tags Bio Isobutene Market
Last Updated January 12, 2021