Global Isooctane Market – Overview
Isooctane is primarily used as an anti-knocking agent. The key application sector is in fuel additives because of its superior octane rating. Gasoline is a mixture of aliphatic hydrocarbon is a liquid form. This liquid mixture is derived through a chemical process of fractional distillation of petrol. This fractional distillation of petrol is the mixed with other additives such as aromatic hydrocarbons and isooctane as it aids in boosting the overall octane rating of gasoline. This process helps in preventing the ‘knocking’ of engines of vehicles.
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Global Isooctane Market – Notable Developments
Some of the notable developments in the global isooctane market are listed below:
- In August 2019, ExxonMobil, a global leader in the isooctane market announced that the company has entered into a new agreement to explore the development of an innovative technology that will help in removing carbon dioxide from the emission sources.
- In August 2019, Shell Offshore Inc., a fully-owned subsidiary of Royal Dutch Shell Plc. announced that the company has taken a final investment decision or FID for the project of PowerNap deep-water drilling in the US Gulf of Mexico.
Global Isooctane Market – Drivers and Restraints
One of the biggest driving factor for the growth of the global isooctane market is its growing use as an anti-knocking additive. Isooctane compounds are added to enhance the overall quality and efficacy of fuels. Also, these compounds are quite commonly used in gasoline engines. Their growing demand for improving the performance of these gasoline engines is thus driving the growth of the global isooctane market. In addition to this, these additives are mixed with the fuel in order to increase the ability to resist the knocking of the engine and also to avoid the incidences of self-ignition of air-fuel mixtures inside the engines.
Another important factor that is helping the growth of the global isooctane market is the growing preference of these compounds over the traditional methyl tert-butyl ether or MTBE. Methyl tert-butyl ether is an organic compound that is colorless and highly flammable and volatile liquid. It is responsible for the contamination of groundwater and soil. The growing conversions of methyl tert-butyl ether production facilities to isooctane compounds with an objective to prevent groundwater and soil contamination is also an important factor that is driving the growth of the global market.
Global Isooctane Market – Geographical Outlook
There are five key regions that help in understanding the overall working dynamics of the global isooctane market. These regions are North America, South America, Middle East and Africa, Asia Pacific, and Europe. Of these, the global isooctane market is currently dominated by the North America region. The regional market is expected to continue its dominance across the globe over the course of the given forecast period of 2019 to 2027.
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The Asia Pacific market is also expected to show a promising growth rate during the given projection period. Developing countries such as China and India are expected to play a major role driving the growth of the Asia Pacific region. China in particular is expected contribute significantly in terms of revenue over the given forecast period. The growth of the market is primarily attributed to the growing concerns about the environment degradation and followed by subsequent strict regulations and mandates issued by the government. Moreover, the growing initiatives undertaken by the regulatory authorities to cut down the usage of gasoline and the reduce the overall carbon footprint is also expected to help in developing the isooctane market in the Asia Pacific region.
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