DUBLIN--(BUSINESS WIRE)--The "Polyisobutylene Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Molecular Weight, Product (Conventional PIB and Highly Reactive PIB), Application (Tires, Industrial Lubes and Lube Additives, Fuel Additives, Adhesives and Sealants, Others), and End-Use Industry" report has been added to ResearchAndMarkets.com's offering.
The polyisobutylene market was valued at US$ 2,871.14 million in 2021 and is projected to reach US$ 3,891.16 million by 2028; it is expected to grow at a CAGR of 4.4% from 2021 to 2028.
Polyisobutylene (PIB) is highly used in many applications, such as inner tubes, inner liners of basketball, and liner layers of tires, due to its remarkable impermeable property. PIB in the form of polyisobutylene succinimide is used in additives in lubricating oils and motor fuels. Polyisobutylene is widely incorporated into the construction industry for roof repairing. It is also used as adhesive in packaging, in tire making in the automotive industry, and in electrical fluids.
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.
In 2020, North America held the largest share of the global polyisobutylene market. The surge in urbanization and the robust growth of the construction sectors in many APAC countries offer ample opportunities for the players in the polyisobutylene market. North America comprises major economies such as the US, Canada, and Mexico.
The companies are continuously enhancing the overall business processes to meet the customers' demands. The chemical and automotive sectors in the US are highly developed. This provides a huge customer base for the polyisobutylene market players. The polyisobutylene is an innovative synthetic rubber used in the sealant. It is also used for damp proofing, rubber roof repairing and maintenance of roof membranes (particularly around the edges).
Players operating in the market are highly focused on developing high-quality and innovative product offerings to meet the customer's requirements.
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.
Market Dynamics
Market Drivers
Market Restraints
- Environmental impact and presence of alternatives/substitutes to hamper the market growth
Market Opportunities
- Growing Demand for PIB From Developed and Developing Economies
Future Trends
- Growing Demand For Polyisobutylene in Food Industry
Company Profiles
- BASF SE
- Braskem SA
- Daelim Industrial Petrochemical Division
- Ineos AG
- Infineum International Limited
- Kemat Polybutenes
- Kothari Petrochemicals
- Sibur Holding PJSC
- The Lubrizol Corporation
- TPC Group
For more information about this report visit https://www.researchandmarkets.com/r/ud79fr
