Polyisobutylene Market is segmented By Molecular Weight (Low, Medium, High), By Application (Tires & Tubes, Automotive, Lubricants, Adhesives & Sealants, Others), By End-user (Transportation, Industrial, Food & Beverages, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Market Overview
The global polyisobutylene (PIB) market reached US$ XX million in 2023 and is projected to witness lucrative growth by reaching up to US$ XX million by 2031. The market is growing at a CAGR of 5.33% during the forecast period (2024-2031).
A synthetic rubber, or elastomer, is polyisobutylene. Because it is the only rubber that is gas-impermeable, it is unique. It is the only rubber with a lengthy air-holding capacity. Polyisobutylene, sometimes PIB or butyl rubber, is a vinyl polymer. Structure-wise, it is extremely similar to polyethylene and polypropylene, except every other carbon atom is replaced with two methyl groups. It is produced by cationic vinyl polymerization from the monomer isobutylene.
Market Scope
|
Metrics |
Details |
|
CAGR |
5.33% |
|
Size Available for Years |
2022-2031 |
|
Forecast Period |
2024-2031 |
|
Data Availability |
Value (US$) |
|
Segments Covered |
Molecular Weight, Application, End-User and Region |
|
Regions Covered |
North America, Europe, Asia-Pacific, South America and Middle East & Africa |
|
Fastest Growing Region |
Asia-Pacific |
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Largest Region |
Asia-Pacific |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
Market Dynamics
The growing construction industry
Due to its tackiness and stability, which make it ideal for various hot melt pressure sensitive adhesives, polyisobutylene offers many benefits in the construction industry as adhesives & sealants. Additionally, the need for machinery and equipment for manufacturing facilities is being fueled by an increase in industrialization and construction around the world. As a result, hydraulic fluids and sealants are utilized extensively in these sectors. Excellent sealant qualities of polyisobutylene include a reduction in shrinkage.
The usage in tires & tubes manufacturing
A significant market driver is an expanding tire and tube demand. The market's primary demand generators are strong rubbers used to make the tires. Polyisobutylene is a rubber that can be altered to suit any requirement. The product is appropriate for the tire industry because of its low molecular weight. Synthetic polyisobutylene is composed of both solids and oligomers. It is an elastomer rubber with the appropriate flexibility and sturdiness at the same time. Its flexibility and variety of functions contribute to a higher adoption rate. Synthetic rubbers made of polyisobutylene are now used more frequently in the automotive industry. The Automotive is suited for this technique due to its high tensile strength and flexibility.
Segment Analysis
The global polyisobutylene market is segmented based on molecular weight, application, end-user and region.
The rising demand for automotive drives the growth of the segment
Due to the increased population migration to urban regions, the automotive industry is observing an increase in demand for passenger and commercial private and public transportation cars. Additionally, it is anticipated that the expanding global e-commerce and logistics sectors will increase the need for commercial cars.
Source: DataM Intelligence Analysis (2023)
Geographical Penetration
The rapidly expanding automotive sector in Asia-Pacific
The strong demand from important industries, such as automotive, construction, cosmetics and aerospace, in developing nations like China and India, is the main driver of polyisobutylene demand in Asia-Pacific. For simple replacement, tubeless tires are being developed by major tire producers in Asia-Pacific. It will be the largest market due to demand from the automobile industry.
Source: DataM Intelligence Analysis (2023)
Competitive Landscape
The major global players include LANXESS AG, Exxon Mobil Corporation, INEOS Capital Limited, TPC Group, Lubrizol Corporation, BASF SE, JX Nippon Oil & Energy Corporation, Shandong Hongrui Petrochemical Co. Ltd., Zhejiang Shunda New Material Co and Infineum International Limited.
COVID-19 Impact Analysis
By Molecular Weight
- Low
- Medium
- High
By Application
- Tires & Tubes
- Automotive
- Lubricants
- Adhesives & Sealants
- Others
By End-User
- Transportation
- Industrial
- Food & Beverages
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Russia
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- Middle East and Africa
Key Developments
- BASF SE introduced its polyisobutylene product in North America market in February 2021 under the trade name OPPANOL C. To decrease manufacturing stages for clients and shorten the time it takes to manufacture a product, OPPANOL C is made in one-inch chips. It allows for easier and quicker processing.
- BASF is planning to invest roughly US$10 billion in the new "Verbund" site; if China doesn't find a partner company, it's expected that China will eventually possess the entire site. The new BASF project is their largest investment to date. Additionally, the business intends to launch its first facilities in 2029.
- The chemical giant Lanxess AG plans to invest US$500 million in North America between now and 2022 to upgrade and expand Brownfield sites.
The global polyisobutylene market report would provide approximately 61 tables, 60 figures and 202 pages.
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