Polyisobutylene Market Size to Cross USD 3847.01 Mn by 2027

Polyisobutylene market to grow at a CAGR of 4.5% by 2027. Asia Pacific is expected to grow at the highest CAGR during the forecast period.

NEW YORK, UNITED STATES, December 2, 2021 /EINPresswire.com/ -- Latest market study on "Global Polyisobutylene Market to 2027 - COVID-19 Impact and Global Analysis - By Molecular Weight; Product; Application; End-Use Industry; and Geography; the market was valued at US$ 2,580.78 million in 2018 and is projected to reach US$ 3,847.01 million by 2027; it is expected to grow at a CAGR of 4.5% during 2019 - 2027.

Strategic Insights

Market Size Value - in US$ 2,580.8 Million in 2018
Market Size Value - by US$ 3,847.0 Million by 2027
Growth rate - CAGR of 4.5% from 2019-2027
Forecast Period - 2019-2027
Base Year - 2019
No. of Pages - 185
No. Tables - 102
No. of Charts & Figures - 88
Historical data available - Yes
Segments covered - Molecular Weight ; Product ; Application ; End-Use Industry and Geography
Regional scope - North America; Europe; Asia Pacific; Latin America; MEA
Country scope - US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage - Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Polyisobutylene (PIB) is an elastomer or a synthetic rubber, which is a versatile, non-toxic, water-white viscous liquid, and has the ability to increase tackiness, provide water-repellency, improve viscosity-index and provide excellent electrical insulation. It is the only rubber, which is gas impermeable, and hence it can hold or store air over long period. The remarkable impermeable property of Polyisobutylene (PIB) has led to its uses in applications such as inner tubes, inner liners of basketball, and liner layers of tires. Polyisobutylene (PIB) in the form of polyisobutylene succinimide finds uses in additives in lubricating oils as well as motor fuels. When added in small amount to the lubricating oils it reduces the generation of oil mist. As a fuel additive, it is blended with other fuel and oil additives to form a detergent pack which is added to gasoline and diesel fuels to resist the buildup of deposits and engine knock.

Growing demand for polyisobutylene from construction industry is expected to escalate the growth of global polyisobutylene market at a CAGR of 4.5%

The world-wide changes in construction industry associated with use of material are changing faster than ever before. Urbanization is considered one of the international megatrends shaking up the construction industry. The population of the global urban zones is rising by 200,000 people per day, all of whom need reasonably priced housing, transportation, and social and utility infrastructure. In such challenges, the construction industry is practically under a moral compulsion to transform. Its transformation is impacting elsewhere on the wider society, by reducing construction costs and by enlightening the use of scarce materials or by making buildings more eco-efficient and boosting economic development and by narrowing the global infrastructure gap.

Impact of COVID-19 on Polyisobutylene Market:

The COVID-19 outbreak has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Chemicals and materials is one of the major industries facing serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak. China is the hub of manufacturing and the largest raw material supplier for various industries worldwide, and disturbed operations in the country are affecting several businesses from all other countries dependent on its manufacturing sector. The overall market breakdown due to COVID-19 is also affecting the growth of the polyisobutylene market due to shutting down of factories, obstacle in supply chain, and downturn in world economy.

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Polyisobutylene Market: By Product

Based on product, the polyisobutylene marker is segmented into conventional PIB and highly reactive PIB. In 2018, highly reactive segment led the polyisobutylene market. Highly reactive polyisobutylene is an important intermediate used for the manufacturing of high performance fuel & lubricant additives, including fuel detergents or dispersants for engine oils, additives for sludge prevention. HR-PIB is the basis for high performance lubricant additives, which allows for more fuel-efficient engine designs. Highly reactive polyisobutylene is a form of polyisobutylene that places more than 80% of its double bonds positioned in the terminal position in the molecule. The adoption of highly reactive polyisobutylene (HR-PIB) is increasing, owing to higher reactivity in various downstream functionalization reactions. The global highly reactive polyisobutylene (HR-PIB) market is largely consolidated mainly with four to five major tier-1 companies accounting for nearly 75% of the total production of highly reactive polyisobutylene. In the current scenario, highly reactive polyisobutylene (HR-PIB) has an array of end uses in various industries, including packaging, automotive, and industrial.

Polyisobutylene Market: Competitive Landscape and Key Developments

BASF SE, Braskem S.A., Daelim Industrial Petrochemical Division, Ineos AG, Infineum International Limited., Kothari Petrochemicals., Reliance Industries Limited, SIBUR, Kemat Belgium, The Lubrizol Corporation, and TPC Group are some of the major key players operating in the global polyisobutylene market.

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