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Given that I2C already has an addressing scheme and very few people need to expand it, one giving 16 times the capacity wouldn't be financially worth producing. If you really need one, it would probably be more economical to make your own using programmable logic devices.
Moreover, depending on which peripheral is being interfaced via I2C, there exists the chance to have no need of any MUX at all. There are for example multichanel analog to digital converters as well as high density memories, and so on.
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