Global Polyisobutylene Market to Grow at 3.7% During 2024-2032, Impelled by Rising Demand for Tubeless Tires

March 03, 2022 | Chemical & Materials

According to the latest report by IMARC Group, titled "Polyisobutylene Market Report by Product (Conventional PIB, Highly Reactive PIB), End Use Industry (Transportation Sector, Industrial, Food, and Others), Application (Tires, Lube Additives, Fuel Additives, 2-Stroke Engines, Industrial Lubes & Others, Adhesives and Sealants), and Region 2024-2032," the global polyisobutylene market reached a value of US$ 2.4 Billion in 2023. Polyisobutylene (PIB) refers to synthetic rubber that is generally produced through the polymerization of isobutene. It is a gas-impermeable rubber variant that is widely used as a modifier for sealants and adhesives. It is a colorless and odorless gummy solid with good electrical insulation properties that is mainly utilized in the manufacturing of cling films and chewing gums. Additionally, it is also used as a base oil for a vast array of applications as it offers excellent high-temperature resistance. Along with this, it is resistant to salt solutions, acids and alkalis, which is providing an impetus to the market growth.

Global Polyisobutylene Market Trends:

The global market is primarily driven by the increasing demand for polyisobutylene polymer across the automotive industry. This is supported by the rising utilization of the product in the manufacturing of tubeless tires. Along with this, the increasing uptake of polyisobutylene in the production of optical fibers across the telecommunication industry is creating a positive outlook for the market. Moreover, the rising need for low emission container ships in order to minimize the environmental impact on water bodies is propelling the demand for lubricants, which, in turn, providing an impetus to the market growth. Additionally, the increasing utilization of sealants and adhesives in the construction industry is considered to be a major growth-inducing factor. Furthermore, the widespread adoption of polyisobutylene as a binding and nonaqueous viscosity-increasing agent in the production of cosmetics and personal care products is also favorably impacting the market growth. Other factors, including continual advancements in production technologies, rapid industrialization and extensive research and development (R&D) activities conducted by key players, are further contributing to the market growth. On account of the aforementioned factors, the market is expected to grow at a CAGR of 3.7% during 2024-2032.

Market Summary: 

  • On the basis of the product, the market has been bifurcated into conventional and highly reactive PIB.
  • Based on the end use industry, the market has been segmented into the transportation sector, industrial, food and others.
  • On the basis of the application, the market has been segregated into tires, lube additives, fuel additives, 2-stroke engines, industrial lubes & others and adhesives and sealants.
  • Based on the region, the market has been divided into Europe, North America, Asia-Pacific, the Middle East and Africa and Latin America.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include Lanxess, BASF, Daelim Industrial Co. Ltd., Reliance Industries Limited and Lubrizol.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Product, End Use Industry, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered Lanxess, BASF, Daelim Industrial Co. Ltd., Reliance Industries Limited and Lubrizol
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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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Global Polyisobutylene Market to Grow at 3.7% During 2024-2032, Impelled by Rising Demand for Tubeless Tires
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