According to IMARC Group latest report titled “Polyisobutylene Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on polyisobutylene market. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global polyisobutylene market size reached US$ 2.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.0 Billion by 2028, exhibiting a growth rate (CAGR) of 4.2% during 2023-2028.
Polyisobutylene (PIB) is a type of synthetic rubber known for its excellent thermal stability, flexibility, and impermeability. This highly versatile elastomer is a critical ingredient in a diverse array of industrial applications, ranging from the manufacture of tires, tubes, and gaskets to the production of adhesives, agricultural chemicals, and chewing gum. It serves as a formidable barrier to gases, enhancing the shelf life of many pharmaceutical and cosmetic products. Further, PIB’s superior adhesion properties, resistance to oxidation, and compatibility with other materials make it an essential ingredient in sealants and adhesives. It’s available in various molecular weights – low, medium, and high, each one with its distinct attributes and preferred end-uses. Low molecular weight PIB is typically used as a lubricant or fuel additive, medium molecular weight is popular in adhesives and sealants, and high molecular weight PIB is a crucial component in stretch films and tire inner liners. The end-product characteristics can be fine-tuned, depending on the molecular weight, which lends PIB its remarkable versatility and widespread industrial appeal.
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Market Trends:
Significant growth in the automotive and construction industries majorly drives the global market. This can be supported by its widespread adoption in the automotive sector as a fuel and lubricant additive, due to its exceptional viscosity index improver and low-temperature performance characteristics. Along with this, stringent emissions standards across the globe are driving demand for PIB as it aids in formulating cleaner and more efficient fuels. In addition, the construction industry is leveraging PIB’s weathering and chemical resistance properties in roofing membranes, sealants, and adhesives, further positively influencing the market. Concurrently, the cosmetic and pharmaceutical sectors are capitalizing on PIB’s low reactivity and excellent barrier properties to enhance product stability and longevity, impacting the market. Apart from this, the emerging demand for sustainable and bio-based PIB, responding to increasing environmental concerns and stringent regulations on conventional petroleum-based products is contributing to the market. Furthermore, the advent of these ‘green’ PIBs is creating a positive market outlook.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Lanxess
- BASF
- Daelim Industrial Co., Ltd.
- Reliance Industries Limited
- Lubrizol
Polyisobutylene Market Segmentation:
Our report has categorized the market based on region, product, end use industry and application.
Breakup by Product:
- Conventional PIB
- Highly Reactive PIB
Breakup by End Use Industry:
- Transportation Sector
- Industrial
- Food
- Others
Breakup by Application:
- Tires
- Lube Additives
- Fuel Additives
- 2-Stroke Engines
- Industrial Lubes & Others
- Adhesives & Sealants
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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