According to the latest report by IMARC Group, titled "Polyisobutylene Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global polyisobutylene market reached a value of US$ 2.2 Billion in 2021. 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.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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
4.87% during 2022-2027.
- 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.
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