The latest report by IMARC Group, titled “Polyisobutylene Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, finds that the global polyisobutylene market has reached a value of more than US$ 2 Billion in 2017. Polyisobutylene or butyl rubber is a polymer of isobutylene which is produced from monomer isobutylene by using cationic vinyl polymerization. It appears as an elastic rubbery viscous or semi-solid substance which is tasteless, odourless and colourless. Some of the other properties of polyisobutylene include ozone resistance, biocompatibility, high heat and damping, weathering resistance and flexibility. Apart from this, it is also gas impermeable as it can hold air for a longer period of time.
Highlights of the global polyisobutylene market:
- Increase in demand for tires and tubes globally acts as a major growth-inducing factor.
- Transportation represents the largest end-use industry.
- Europe dominates the market, holding the majority of the market share.
A strong growth in the transportation industry along with a rapid rise in the demand for tires and tubes across the globe acts as a major factor that is positively driving the growth of the global polyisobutylene market. The growth has also been influenced by increasing demand for lubricants on account of deposit control property of polyisobutylene. Moreover, other factors that are expected to contribute towards the growth include technological advancements, expanding R&D investments and increasing usage of polyisobutylene in the production of tubeless tires. However, strict rules and regulations by governments across nations along with rising consumer awareness about environment protection may act as a hindrance towards the growth of the market. Looking forward, the global polyisobutylene market is projected to reach a value of more than US$ 3 Billion during 2018-2023.
On the basis of product, the market has been segmented into conventional PIB and highly reactive PIB. Based on end-use, transportation represents the largest end-use industry. It is followed by industrial and food industries. The market has also been divided on the basis of application which includes tires, lube additives, fuel additives, 2-stroke engines, industrial lubes & others, and adhesives & sealants. Region-wise, Europe accounts for the majority of the total global share owing to rising attempts by governments in favour of environment-friendly polyisobutylene products. Other major markets include North America, Asia Pacific, Middle East and Africa, and Latin America. The market has also been segregated on the basis of imports which is led by France, followed by the United States, Singapore, Italy and China. Based on exports, Republic of Korea holds the largest share followed by Germany, Belgium, the United States and Japan. The competitive landscape of the market has also been analysed with some of the key players being Lanxess, BASF, Daelim Industrial Co., Ltd., Reliance Industries Limited and Lubrizol.
The report by IMARC Group has examined the global polyisobutylene market on the basis of:
- Conventional PIB
- Highly Reactive PIB
End Use Industry:
- Lube Additives
- Fuel Additives
- 2-Stroke Engines
- Industrial Lubes & Others
- Adhesives & Sealants
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
- United States of America
- Republic of Korea
- United States of America
- Daelim Industrial Co., Ltd.
- Reliance Industries Limited
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