Overview and Scope
Polyisobutylene is an isobutylene-based synthetic polymer that is utilized as a film-forming agent. It is a binder, film-forming, and nonaqueous viscosity-increasing compound used in cosmetics.
Sizing and Forecast
The polyisobutylene market size has grown strongly in recent years. It will grow from $2.49 billion in 2023 to $2.65 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to increase in lubricant and fuel additives, expansion of construction and infrastructure, rise in demand for industrial rubber, increase in polymer modification applications, growth in the adhesives and sealants industry, stringent regulations in the chemical industry..
The polyisobutylene market size is expected to see strong growth in the next few years. It will grow to $3.4 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to advancements in polymer science, rise in demand for biodegradable polymers, focus on sustainable packaging, increase in demand for synthetic rubber, demand for high-performance lubricants.. Major trends in the forecast period include technological innovations in tire manufacturing, advancements in polymer modification, high molecular weight pib, globalization and market expansio, technological innovations in pib production..
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Segmentation & Regional Insights
The polyisobutylene market covered in this report is segmented –
1) By Product: Conventional PIB, Highly Reactive PIB
2) By Molecular Weight: Low Molecular Weight, Medium Molecular Weight, High Molecular Weight
3) By Application: Tires And Tubes, Adhesives, Sealants, Lubricants, Electrical Insulation, Stretch Wrap
4) By End User Industry: Industrial, Food, Other End User Industries
Asia-Pacific was the largest region in the polyisobutylene market in 2023. Asia-Pacific is expected to be the fastest-growing region in the polyisobutylene market during the forecast period. The regions covered in the polyisobutylene market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Rising demand for the tires and tubes market is expected to propel the growth of the polyisobutylene market going forward. Tires and tubes are the automotive components that are helpful in transportation. Polyisobutylene is a synthetic rubber utilized in the production of tire inner tubes for buses, vehicles, lorries, and airplanes due to its ability to act as a barrier to the passage of oxygen, thus, an increase in demand for tires and tubeless tires is propelling the demand for polyisobutylene. For instance, in August 2022, according to an article published by U.S. Tire Manufacturers Association, a US-based trade association for the manufacturers producing tires, total tire shipments in the United States are expected to reach 342.1 million units in 2022, up from 335.2 million units in 2021. Therefore, rising demand for the tires and tubes market is driving the growth of the polyisobutylene market.
Key Industry Players
Major companies operating in the polyisobutylene market report are Badische Anilin und Soda Fabrik Societas Europaea, TPC Group, Lubrizol Corporation, INEOS Group Limited, Kothari Petrochemicals Limited, Braskem, ENEOS Corporation, Janex S.A., RB Products Inc., Chevron Corporation, Mayzo Inc., Reliance Industries Limited, Evonik Industries AG, KEMAT N.V, Santa Cruz Biotechnology Inc., Daelim Industrial Company Ltd., ExxonMobil, Lanxess, Dowpol Corporation, The Lubrizol Corporation, Infineum, Shandong Hongrui New Material Technology, Afton Chemical Corporation, Zhejiang Shunda New Material, SABIC, Kemipex, FERRO-PLAST S.r.l., SpecialChem, Chemspec Ltd., Jilin Petrochemical Company, Efremov Synthetic Rubber Enterprise Company, Naxant, Connect Chemicals, JXTG Nippon Oil & Energy Corporation .
The polyisobutylene market report table of contents includes:
1. Executive Summary
2. Polyisobutylene Market Characteristics
3. Polyisobutylene Market Trends And Strategies
4. Polyisobutylene Market – Macro Economic Scenario
5. Global Polyisobutylene Market Size and Growth
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31. Global Polyisobutylene Market Competitive Benchmarking
32. Global Polyisobutylene Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Polyisobutylene Market
34. Polyisobutylene Market Future Outlook and Potential Analysis
35. Appendix
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