Isobutyraldehyde Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company's Isobutyraldehyde Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 26, 2024 /EINPresswire.com/ -- The global isobutyraldehyde market is projected to grow from $1.91 billion in 2023 to $2.02 billion in 2024, at a CAGR of 5.5%. Despite various challenges, the market is anticipated to reach $2.4 billion by 2028, driven by the increasing focus on bio-based chemicals and advancements in the automotive fuel additives market.

Growth in Fertilizer Consumption Propels Market Growth
The growth in the consumption of fertilizers is expected to propel the growth of the isobutyraldehyde market going forward. Fertilizers refer to chemical compounds applied to plants to enhance their development by supplying necessary nutrients. These substances boost the plant's yield. Isobutyraldehyde is utilized in the production of fertilizers and pest control products. Isobutyraldehyde, in its liquid form, combined with the solid compound urea, acts as an uncoated nitrogen provider in fertilizers, gradually delivering essential nutrients to plants. For instance, in 2021, according to data from The World Bank Group, a US-based international organization providing loans to developing countries, the fertilizer consumption in Ireland was 130.1 kilograms per hectare of arable land in 2020, which increased to 139 kilograms per hectare of arable land in 2021. Therefore, the growth in consumption of fertilizers is driving the isobutyraldehyde market.

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Major Players and Market Trends
Major companies operating in the isobutyraldehyde market report are BASF SE, Merck & Co. Inc., Dow Inc., Mubychem Group, Mitsubishi Chemical Corporation, Sumitomo Chemical Co. Ltd., Arkema S.A., Eastman Chemical Company, Celanese Corporation, Airgas Inc., Formosa Plastics Corporation, Hangzhou DayangChem Co. Ltd., Grupa Azoty S.A., Luxi Chemical Group Co. Ltd., Yangmei Chemical Co. Ltd., JNC Group, Tokyo Chemical Industry Co. Ltd., Alfa Aesar, KH Neochem, Aceto Corporation, Kanto Chemical Co. Inc., Dairen Chemical Corporation, Inoue Perfumery MFG Co. Ltd., Otto Chemie Pvt. Ltd., Yancheng Chunzhu Aroma Co. Ltd., Shandong Jianlan Chemical Co. Ltd., Beijing Eastern Petrochemical Co. Ltd., Sinopec Qilu Petrochemical Corporation.

Innovations and Technological Advancements
Major companies operating in the isobutyraldehyde market are using advanced technology, such as LP Oxo Technology, to enhance production. LP Oxo Technology is a low-pressure hydroformylation process that uses rhodium-catalyzed hydroformylation of an olefin with syngas (CO and H2) followed by hydrogenation of the intermediate aldehyde to produce alcohols from olefins. For instance, in September 2022, Johnson Matthey, a UK-based specialty chemicals company, and Dow Inc., a US-based materials science company, licensed LP Oxo Technology to Anqing Shuguang Petrochemical Oxo Co. Ltd. The LP Oxo Technology is a process that primarily involves the use of propylene and synthesis gas, a blend of hydrogen and carbon monoxide, to generate normal isobutyraldehyde. This technology will help Anqing Shuguang Petrochemical Oxo Co. Ltd. in expanding its oxo business in the growing oxo alcohol market and will produce approximately 200 kta 2-ethylhexanol and 25 kta iso-butyraldehyde.

Segments:
•By Type: Food Grade, Pharma Grade, Industrial Grade, Other Types
•By Form: Powder, Liquid, Other Forms
•By Synthesis Method: Hydroformylation Of Propene, Oxidation Of Isobutane
•By Application: Chemical Intermediates, Pharmaceuticals, Food And Fragrances, Fertilizers, Lubricants, Other Applications

Geographical Insights: Asia-Pacific Leading the Market
Asia-Pacific was the largest region in the isobutyraldehyde market in 2023. The regions covered in the isobutyraldehyde market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Isobutyraldehyde Global Market Report 2024 from TBRC covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Isobutyraldehyde Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on isobutyraldehyde market size, isobutyraldehyde market drivers and trends, isobutyraldehyde market major players, competitors' revenues, market positioning, and market growth across geographies. The isobutyraldehyde market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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