Polyisobutylene Market Size to Grow USD 3,891.16 Mn by end of 2028 at 4.4% of CAGR, Says The Insight Partners

Rising Demand from Automotive Industry to Boost the Global Polyisobutylene Market. In 2020, North America held the largest revenue share of the market.

NEW YORK, UNITED STATES, March 9, 2022 /EINPresswire.com/ -- According to The Insight Partners recent study on “Polyisobutylene Market Forecast to 2028 - COVID-19 Impact and Global Analysis”, to reach US$ 3,891.16 million by 2028; it is expected to grow at a CAGR of 4.4% from 2021 to 2028. The increasing production of automotive boosts the demand for automotive components, which drive the growth of the polyisobutylene market.

Strategic Insights

Market Size Value in - US$ 2,871.14 million in 2021
Market Size Value by - US$ 3,891.16 million by 2028
Growth rate - CAGR of 4.4% from 2021 to 2028
Forecast Period - 2021-2028
Base Year - 2021
No. of Pages - 185
No. Tables - 102
No. of Charts & Figures - 88
Historical data available - Yes
Segments covered - Molecular Weight, Product, Application, and End-Use Industry
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 trend

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Polyisobutylene is used on a large scale in various industries, such as chemical, electronics, and adhesive. In construction, polyisobutylene is considered as one of the popular raw material. Polyester fabric laminated to polyisobutylene binder provides a single-sided waterproof tape that can be used on PVC, metal, and cement joints. It is mainly used for repairing, maintaining, and waterproofing metal roofs. Also, automotive components such as tires are mainly produced from polyisobutylene.

Growing Demand for Polyisobutylene from Construction Industry to Boost the Polyisobutylene Market

The automobile sector is witnessing growing demand for the passenger as well as commercial vehicles for public and private transportations owing to the growth in population migration towards urban areas. Besides, the growing e-commerce and logistics industry worldwide is anticipated to surge the consumption of commercial vehicles. The automotive sector has been the key market for several types of fuel additives for many years. PIB (Polyisobutylene-based) deposit regulator fuel additives are polymeric chemicals, which are widely utilized as additives in engine fuel (for instance gasoline) to keep soot, sludge, oxidation products, and other debris from founding deposits onto and harming key engine parts. Besides, polyisobutylene-based butyl rubber is widely used in developing automobile parts including gaskets, hosepipes, and window strips due to its superior thermal stability, flexibility, and improved oxidation resistance. Furthermore, PIB has remarkable property of impermeability and hence it is used pervasively in the tire industries to manufacture the inner liners of tires. It offers remarkable inflation pressure holding, ozone resistance, high damping, barrier properties and heat aging, which makes it suitable all tire types. It is generally used in producing industrial lubes and lube additives as viscosity index improver in industrial gear oils and automotive, as smoke suppressants in two-stroke oils, as thickeners in greases, and building blocks for dispersants. It also finds uses in food-grade lubricants, as they are non-toxic and do not support the growth of microbes. Thus, the growing application of Polyisobutylene in the automotive sector is expected to drive the demand in the market growth over the forecast period.

Impact of COVID-19 Pandemic on Polyisobutylene Market

The COVID-19 pandemic drastically altered the status of the chemicals & materials sector and negatively impacted the growth of the polyisobutylene market. The significant decline in the growth of several industrial sectors negatively impacted the demand for polyisobutylene in the global market. The demand for polyisobutylene has been negatively affected due to the total shutdown of automotive and electronic industries. Various industries have faced supply chain disruption due to the COVID-19 pandemic. However, as the economies are reviving their operations, the demand for polyisobutylene is expected to rise globally in the coming months.

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Polyisobutylene Market: By Application

Based on application, the global polyisobutylene market is segmented into tires, industrial lubes and lube additives, fuel additives, adhesives and sealants, and others. The industrial lubes and lube additives segment held the largest share of the market in 2020. Polyisobutylene (PIB), also known as butyl rubber is a synthetic rubber or elastomer. It is a non-toxic, viscous liquid that has the ability to offer water repellency, electrical insulation, tackiness, and improve the viscosity index. Polyisobutylene is available in a range of molecular weights and viscosity indexes. It also finds uses in food grade lubricants, as they are nontoxic and do not support the growth of microbes. Polyisobutylene (PIB) are also used as substitutes for bright stock owing to their advantages, such as viscosity indices and oxidative and hydrolytic stability.

Polyisobutylene Market: Competitive Landscape and Key Developments

BASF SE, Braskem S.A., Daelim Industrial Petrochemical Division, Ineos AG, Infineum International Limited., Kothari Petrochemicals., Sibur Holding PJSC , Kemat Polybutenes, The Lubrizol Corporation, and TPC Group are among the key players in the global polyisobutylene market. Players operating in the market are highly focused on developing high-quality and innovative product offerings to meet the customer’s requirements.

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