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

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News provided by

Fact.MR

15 Jun, 2022, 12:00 GMT

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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.

For more insights into the Market, Get A Sample of this Report! 
https://www.factmr.com/connectus/sample?flag=S&rep_id=5160

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.

Get Customization on this Report for Specific Research Solutions 
https://www.factmr.com/connectus/sample?flag=RC&rep_id=5160

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

Request Methodology & Get a Glimpse of Our Expertise 
https://www.factmr.com/connectus/sample?flag=RM&rep_id=5160

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?

Explore Fact.MR's Coverage on the Chemical & Materials Domain

Polyester Filament Market: Growing usage of polyester filament as a substitute for nylon and cotton for production of textile products such as garments, protective clothing, and other is estimated to facilitate the growth in the market. On account of this, the demand for polyester filament is expected to surge at 5.1% CAGR through 2032.

Polyacrylates Market: Rising application of polyacrylates across the adhesives & sealant industry, owing to its high transparency, impressive impact toughness, elasticity, and heat resistance among others is augmenting the demand in the market. In addition to this, growing use in manufacturing dentistry products such as artificial teeth, jaws, and tooth fillings is projected to bolster the sales of polyacrylates.

Polyetherimide Market: Due to the increased cost of fuels, a swift rise in customer shift towards adopting lightweight alternatives, such as aluminum, is being witnessed across automotive & aircraft components manufacturing. Since, polyetherimide plays a vital role in manufacturing aluminum, surging above-mentioned trend is anticipated to assist the sales of polyetherimide to reach US$ 870 Mn by 2027.

Polymer Seals Market: As per Fact.MR analysis, the global polymer seals market is set to experience a healthy CAGR of close to 6% throughout the forecast period of 2021 to 2031. Rising spending in research & development to bring future growth possibilities for manufacturers from various end-use sectors.

Polypeptide Market: The polypeptide market is expected to grow significantly in the coming years, with high prevalence of cancer and cardiovascular diseases, increasing healthcare expenditure, and advances in polypeptide therapeutics manufacturing technology. 

Polyglycerates Market: Polyglycerates Market basis of its available form(Solid and Liquid) basis of product types(Polyethylene glycerol mono oleate, Polyethylene glycerol di-oleate, Polyethylene glycerol mono stearate, Polyethylene glycerol di stearate) - Global Review 2018 to 2028

Polythiols Market: According to Fact.MR study, the polythiols market is witnessing passive growth owing to the limited number of active players in the industry and the availability of better alternatives. Global sales of polythiols were nearly US$ 200 Mn in 2018, and the market is estimated to record a CAGR of about 4.0% through 2029.

Polyphenols Market: Polyphenols Market Share & Trends Analysis, By Form (Liquid, Powder), By Source (Fruits, Plant Extracts, Others), By End-use (Dietary Supplements, Functional Beverages, Others) - Global Market Insights 2018 to 2026.

Polyetherketone Market: Polyetherketone Market Share & Trend Analysis, By Product (Electrophilic substitution, Nucleophilic substitution), By Application (Machine parts, Nuclear power-plant equipment, Automobile parts, Aerospace components) & By Region Forecast - Global Market Insights 2018 to 2028.

About Fact.MR

Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range – from automotive & industry 4.0 to healthcare, chemical and materials, to even the most niche categories. 80% of Fortune 1000's trusts us in critical decision making.

Contact: 

Mahendra Singh
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E: sales@factmr.com     
Follow Us: LinkedIn | Twitter

Logo: https://mma.prnewswire.com/media/713666/FactMR_Logo.jpg

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