Polyisobutylene, also known as PIB, is a polymer of isobutylene found in liquid or rubber form. It is a tasteless and odourless viscoelastic with a clear to light yellow colour. It is also gas impermeable, that is, it can hold air for a long period of time, which makes it suitable for use in the automobile industry. Polyisobutylene is also highly resistant to acids, alkalis and salt solutions but degradable under sunlight and ultraviolent rays. It is soluble in ether, hydrocarbons as well as chlorinated hydrocarbons. Some of the other characteristics of polyisobutylene include versatility, non-toxicity, water-repellence and insulation. According to IMARC Group’s latest report, titled “Polyisobutylene Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global polyisobutylene market reached a value of more than US$ 2 Billion in 2018.
Polyisobutylene is majorly used in the production of tubeless tires owing to its properties such as water-resistance and gas impermeability. The introduction of new tyre patterns and improving purchasing power of the consumers have substantially propelled the sales of tyres, thereby inducing the market growth. Moreover, a rise in the number of automobiles in the emerging regions such as India, China, Africa, etc. is projected to increase the demand for high-performance tires, in turn, boosting the growth prospects of the market over the next few years. Apart from this, polyisobutylene helps in eliminating deposits of oxidised by-products, sludge, soot and other compounds that get accumulated with time on the critical components of the engine. Owing to this, polyisobutylene is used as a fuel additive in engine fuel. Growth in the demand for PIB-based fuel additives is stimulating the market growth. According to the report, the market is expected to reach a value of nearly US$ 3 Billion by 2024, exhibiting a CAGR of 4.8% during 2019-2024.
The report has segmented the market on the basis of product into conventional and highly reactive polyisobutylene. On the basis of end-use, transportation accounts for the majority of the total share. It is followed by industrial, food and other industries. The market is further segregated on the basis of application, wherein tires dominate the polyisobutylene market. Other applications include lube additives, fuel additives, 2-stroke engines, industrial lubes and others, and adhesives and sealants. Region-wise, the report covers Europe, North America, Asia Pacific, Middle East and Africa, and Latin America. Currently, Europe represents the largest market, accounting for the majority of the total global share. Based on import and export trends, France represents the largest importer whereas Republic of Korea is the biggest exporter of polyisobutylene. The report has also analysed the competitive landscape of the market with some of the key global players being Lanxess, BASF, Daelim Industrial Co., Ltd., Reliance Industries Limited and Lubrizol.
This report provides a deep insight into the global polyisobutylene market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the polyisobutylene industry in any manner.
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