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Methyl Isobutyl Carbinol Market Size, Share and Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2028
- Report ID: GMI3435
Methyl isobutyl carbinol (MIBC) market will witness substantial consumption throughout the analysis period 2021-2027. The growth of the industry is attributable to the increasing demand for plasticizers, frothers, lube oils, and hydraulic fluids across different sectors. These end-users include automotive, construction, rubber, pharmaceutical, and others. The expansion of these industry verticals driven by continuous developments will supplement the market outlook.
The MIBC industry is experiencing growing consumption owing to the excellent chemical characteristics of the substance including excellent solvency, an optimum evaporation rate, and a relatively high boiling point. The compatibility of MIBC with other organic solvents makes it highly useful in blends used to deliver specific performance characteristics. The aforementioned properties make MIBC suitable for applications such as plasticizers, lube oils, hydraulic fluids, frothers, and others.
In terms of the applications, the frothers segment is slated to hold a fair share of the MIBC market through 2027. This can be contributed to the rising demand and consumption of frothers across key end-use verticals including paper recycling, mineral processing, and wastewater treatment. The mining sector is among the leading end-users where it helps improve the recovery of valuable minerals such as lead- and copper-bearing minerals. The growing use of frothing techniques for the economic recovery of valuable metals and minerals will augment the application of MIBC.
Considering the end-users, the rubber sector is anticipated to acquire a substantial share of the MIBC industry in the forthcoming years. The inorganic compound is prominently used in the synthesis of rubber chemicals for tire manufacturing. Consequently, the increasing automotive production volumes across the globe and the demand for reliable and efficient tires will boost the product demand. The increased consumer spending on the replacement of old, worn out tires will further amplify this demand, generating positive opportunities for the market.
Geographically, Europe MIBC industry share if projected to expand at a notable CAGR between 2021 and 2027. The regional growth is influenced by the presence of established automotive, pharmaceutical, and mining industries which generate a significant demand for plasticizers, hydraulic liquids, lube oils, and frothing solutions. According to the European Plasticizers, a sector group of the European Chemical Industry Council (Cefic), more than 85% of all plasticizers consumed across the Europe are used in durable, flexible PVC applications, mainly for the automotive construction, and wire & cable sectors. Some plasticizers are also employed in non-PVC applications including rubber, coatings, and adhesives & sealants.
Notable specialty chemicals manufacturers and suppliers including BASF SE, The Dow Chemical Company, Celanese Corporation, Mitsui Chemicals, Shell Chemicals, and Toray Industries are part of the MIBC market. The market players are likely to implement ramp-up strategies as they anticipate an increasing demand across a range of industries. Besides expanding their production capacities, manufacturers are also adopting strategies such as mergers, acquisitions, and partnerships to advance their growth and expansion goals.
COVID-19 crisis and its impact on the MIBC industry forecast
The global economic slowdown and the decline in manufacturing activities across key sectors in wake of the COVID-19 pandemic has impacted the MIBC market significantly. With construction and mining activities halted temporarily in many regions, plasticizers and frothers have experienced a weakened demand. These factors along with supply chain concerns and raw material shortages have created numerous new challenges for MIBC manufacturers and suppliers. However, the resumption of industrial activities post COVID-19 will bolster the MIBC industry trends during 2021-2027.
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