Global Polyisobutylene Market was valued at US$ 2.69 Bn in 2019 and is estimated to reach US$ 3.97 Bn by the end of 2027, growing at a CAGR of 5.2%.
Polyisobutylene (PIB) also known as polyisobutene is a synthetic elastomer/ Rubber, which is manufactured by the polymerization and is employed in numerous applications requiring an airtight rubber, most commonly in industries due to its flexibility, gas impermeable, and thermal stability. PIB is also used as components for automotive rubber, additives for fuel & lubricants, cosmetics, personal care and in the production of the gas mask and sporting equipment.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
The report comprises of worldwide Polyisobutylene Market presentation in terms of revenue from various segments and detailed evaluation of the trends and factors that are playing a substantial role in the market. These factors involve the drivers, restraints, opportunities and challenges for the key companies and stakeholders in the industry.
According to the report, one of the major drivers propelling the market growth is growing usage of polyisobutylene as fuel and lubricant additives for many years and its application in the automotive industry for manufacturing of tubes and tires. Moreover, increasing application as a binding agent in plastic explosives industry is accelerating the polyisobutylene market growth. Growing consumption of packaged and frozen foods, the market for flexible packaging is also estimated to scale and thus, driving the polyisobutylene market. Despite, Disposal of polyisobutylene in water bodies is expected to challenge growth in the market.
However, Utilization of Polyisobutylene (PIB) as a lubricant in ship engines is influencing the life in underwater by altering their genes and inducing deaths. In concern, the government are making stringent regulation over transportation due to environmental attention as to its harmful impact on marine and aquatic life and hindering the import and export of polyisobutylene.
Global Polyisobutylene Market: Market Segmentation
The report covers competitive analysis of the Polyisobutylene Market in each of the geographical segments thereby providing insight into a market share at the macro as well as micro levels.
Based on Molecular weight, High molecular weight polyisobutylene held the major share with value of USD 4.28 Bn in 2019 and is estimated to grow at a CAGR of XX% during the forecast. Growing demand in automotive and sealants industry because of its superior oxidation & heat resistance properties is making it suitable for waterproofing and roofing manufacturing. Further, improving product usage in electric wire coatings manufacturing due to its dielectric, lightweight properties and enhanced flexibility will driving the market growth.
Medium molecular weight PIB market is expected to grow at a CAGR of 6% during the forecast period. Thanks to its widespread applications in the adhesives industry, it is likely to fuel the demand over the next seven years.
In terms of Application, The automotive segment is accounted major share of XX % in 2019 and will continue to maintain its dominance over the forecasted period. One of the major factors responsible for the growth is the increasing use of air retaining and bonding properties of PIB in automobile manufacturing and tire industry to produce tubeless tires is likely to fuels its demand in the industries. Moreover, widespread characteristics of PIB such as excellent impermeability, high energy absorption, good flexibility, vibration dampening, and high resistance to heat will further fuel the market growth in the upcoming forecast.
Global Polyisobutylene Market: Geographical Analysis
The Asia Pacific market was valued at US$ XX Mn in 2019 is estimated to grow at the highest CAGR of XX % from 2019 to 2027. In terms of revenue, Asia Pacific will continued its dominance thanks to emerging countries such as India, China, South Korea and Indonesia. The growth is attributed to presence of large tube and tire manufacturing industries in countries. Further, growing foreign direct investment (FDI) also contributing growth in many industries.
However, European market accounted 43.7% market share and is projected to grow at XX% in forecast period. Additionally, upcoming US construction industry will further pump the product demand for adhesives and sealant applications in the US market.
North America polyisobutylene market is likely to grow at XX% CAGR. The US contributes the major share on account of existence of well-established automotive manufacturers and various cosmetics and personal care companies like Colgate-Palmolive, Maybelline, Procter, Gamble, Johnson & Johnson and is expected have fuel the growth in the market.
Competitive Analysis: Global Polyisobutylene Market:
These market players in the Global Polyisobutylene Market appears to be uneven because of several large and small players. Large players implemented various strategies such as acquisition, partnership, collaborations, expansions Product launches and other crucial aspects to lessen the competition in the competitive landscape and Key players include BASF SE, TPC Group Inc.
Trends and Development:
• Lanxess AG, chemical company, is to invest a sum total of 500 Mn in North America over 2022 with an objective to expand capacity and upgrade sites through Brownfield expansions.
• BASF, is taking initatives in investment on new 'Verbund' site nearly, USD 10 Bn, China without a partner company is projected to own the entire site. The new project by BASF's is the largest ever investment. Moreover, the company planning to open its first plants in the year 2026.
The objective of the report is to present a comprehensive analysis of the Global Polyisobutylene Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Polyisobutylene Market dynamics, structure by analyzing the market segments and projects the Global Polyisobutylene Market size. Clear representation of competitive analysis of key players By Product, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Polyisobutylene Market make the report investor’s guide.
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Scope of the Global Polyisobutylene Market
Global Polyisobutylene Market, By Molecular Weight
• Low Molecular Weight Polyisobutylene
• Medium Molecular Weight Polyisobutylene
• High Molecular Weight Polyisobutylene
Global Polyisobutylene Market, By Product
Global Polyisobutylene Market, By Application
• Lube Additives
• Fuel Additives
• Industrial Lubes & Others
• Adhesives & Sealants
Global Polyisobutylene Market, By End-use Industry
Global Polyisobutylene Market, By Region
• North America
• Asia Pacific
• Middle East and Africa
• Latin America
Global Polyisobutylene Market, key Players
• BASF SE
• Shandong Hongrui New Material Technology Co., Ltd.
• Zhejiang Shunda New Material Co., Ltd.
• Inspec Ethylene Oxide Specialties (INEOS)
• Daelim Industrial Company Ltd; TPC Group
• The Lubrizol Corporation
• Kothari Petrochemicals
• JXTG Nippon Oil & Energy Corporation
• Procter and Gamble
• Johnson & Johnson
• Exxon Mobile
• Lanxess AG
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