Catapulted by Rising Applications in Automotive Industry, Demand for Polyisobutene to Reach US$ 4.8 Bn by 2032

Polyisobutene with High Molecular Weight to Contribute Over 65% of Total Sales in 2032

An exhaustive study by Fact.MR on the global polyisobutene market provides an unbiased analysis on the key governing factor facilitating the sales growth between 2022 and 2032. The study also offers detailed insights into emerging trend and opportunities that are elevating the demand for polyisobutene across different segments including product type, molecular weight, and end use.

NEW YORK, June 15, 2022 /PRNewswire/ -- The sales in the global polyisobutene market totaled US$ 2.2 Bn in 2021. Due to the increasing usage of organic and environmentally friendly industrial chemicals across diverse industries, the demand for polyisobutene is estimated to reach US$ 2.3 Bn by 2022.

Polyisobutene is gaining immense popularity across the automotive industry, on account of its favorable properties such as impermeability to gases, flexibility, thermal stability, chemical resistance, and others. Attributed to this, it is extensively being used in the production of automobile components such as gaskets, hosepipes, tubeless tires, and window strips.

Hence, surging sales of automotive vehicles is expected to create lucrative opportunities in the global market. Driven by this, the sales of polyisobutene are projected to surpass a valuation of US$ 4.8 Bn by the end of 2032, exhibiting growth at a robust CAGR of 7.5% during the forecast period 2022-2032.

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As per Fact.MR, the polyisobutene with high molecular weight is estimated remain highly sought after in the market and accounted for more than 65% of the total demand share in 2021. Rising applications in transportation, industrial, and food sectors along with the production of films, adhesives, and lubricants is anticipated to further elevate the growth of the segment.

Key Takeaways:

• The U.S. is estimated to remain a dominant market in North America, accounting for a revenue share of nearly US$ 1.4 Bn by the end of 2032.
• Sales of polyisobutene are expected to rise at a robust pace in Germany, owing to the increasing sales of automotive vehicles in the country.
• China is forecast to account for a leading share in the Asia Pacific market, projecting growth at a CAGR of 7.9% during the assessment period.
• India is anticipated to emerge as a highly remunerative market for polyisobutene, on account of growing application in the production of paint & coating and lubricants.
• Among the end use verticals, the automotive segment is projected to hold maximum revenue share, exhibiting sales growth at 8% CAGR between 2022 and 2032.

Growth Drivers:

• Growing demand for paints & coating, owing to the increasing building & construction activities, especially across emerging countries such as China, India, Australia, and others is expected to bolster the sales of polyisobutene in the market.
• Shifting customer preference toward adoption of environment-friendly additives such as polyisobutene for the removal of soot and sludge during the production of tubeless tires is estimated to augment the demand in the global market.

Restraints:

• Implementation of stringent environmental regulations regarding the production of polyisobutene, due to the release of hazardous waste, is restraining the growth in the global market.
• Existence of a number of alternatives such as nitrile rubber, styrene-butadiene rubber, and others is hindering the sales of polyisobutene.

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Competitive Landscape:

Leading manufacturers of polyisobutene in the global market are emphasizing on adoption strategies such as production capacity expansion, acquisition, partnership, and collaboration to expand their revenue share and gain edge in the market.

For instance,

• In January 2019, Total Energies and Saudi Aramco announced entering into a collaboration with a South Korea-based petrochemical products manufacturer, Daelim Co. Ltd. for developing a modern Polyisobutene plant by the end of 2024.

Key Companies Profiled by Fact.MR

• BASF SE
• Daelim Co. Ltd.
• TPC Group
• INEOS Group
• Kothari Petrochemicals
• Lubrizol Corporation
• ExxonMobil Corporation
• Lanxess AG
• Zhejiang Shunda New Material Co., Ltd.
• Sinopec Beijing Yanshan Company
• Honeywell International Inc.
• Sumitomo Chemical Co., Ltd.
• PJSC Nizhnekamskneftekhim
• Shandong Chambroad Petrochemicals Co. Ltd.
• Zibo Qixiangtengda Chemcial Co., Ltd.
• Evonik Industries AG.
• TPC Group
• Global Bioenergies
• LyondellBasell Industries Holdings BV

More Valuable Insights on Polyisobutene Market

In its recent survey, Fact.MR highlights crucial factors steering growth in the global polyisobutene market between 2022 and 2032. The study also offers vital insights into drivers that are elevating the growth in the polyisobutene market through detailed segmentation as follows:

By Product Type:

• Conventional
• Highly Reactive

By Molecular Weight:

• High
• Medium
• Low

By End-Use:

• Automotive
• Industrial
• Food
• Other End-Users

By Region:

• North America
• Latin America
• Europe
• APAC
• MEA

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Key Questions Covered in the Polyisobutene Market Report

• What is the estimated revenue of the polyisobutene market during the forecast period?
• Which are the challenges faced in the polyisobutene market?
• Which region is estimated to exhibit fastest growth rate in the global polyisobutene market during 2022-2032?
• What is the projected market valuation of the polyisobutene market in 2022?
• Which are the factors driving the polyisobutene during 2022-2032?
• What is the expected growth rate of the polyisobutene market until 2032?

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