Polyisobutylene Market Size Worth $2.53 Billion By 2028: Grand View Research, Inc.

SAN FRANCISCO, Nov. 15, 2021 /PRNewswire/ -- The global polyisobutylene market size is expected to reach USD 2.53 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.0% from 2021 to 2028. The market is anticipated to expand in the years to come due to the growth of the automotive, electrical and electronics, food packaging, and building and construction industries across the globe.

Key Insights & Findings:

• The automotive rubber components application segment is expected to register the highest revenue-based CAGR of 5.0% over the forecast period. This is attributed to the use of polyisobutylene in the inner lining of tubeless tires, which is expected to be driven by the growing demand for passenger and commercial vehicles
• By product, high molecular weight polyisobutylene dominated the market and accounted for more than 65.0% share of the overall revenue in 2020. This is attributed to its use in adhesives, fuel and lubricant additives, food-grade packaging films, and automotive rubber applications
• The increasing demand for tubeless tires in the automotive industry and the rising demand for lubricant additives are expected to drive the market for polyisobutylene
• Asia Pacific accounted for more than30.0% share of the overall revenue in 2020. This can be credited to the increasing demand for polyisobutylene from key industries, including automotive, construction, cosmetics, and aerospace, in emerging economies such as China and India

Read 77 page market research report, "Polyisobutylene Market Size, Share & Trends Analysis Report By Product (High Molecular Weight, Medium Molecular Weight, Low Molecular Weight), By Application, By Region, And Segment Forecasts, 2021 - 2028", by Grand View Research

Polyisobutylene exhibits low gas and moisture permeability, high thickening efficiency, good shear stability, good electrical insulation, adhesive, and tackifier properties, and resilience to UV. These properties make it suitable to manufacture filler compounds, adhesives, and sealants, tubeless tire inner lining, lubricants additives, fuel additives, wrap films, and cable insulation materials.

Major players are entering into partnerships to increase the polyisobutylene manufacturing capacity. For instance, in January 2019, Saudi Aramco and TotalEnergies entered into an agreement with Daelim Co., Ltd. to build a new polyisobutylene plant, which is expected to come on-stream in 2024. The facility will be located in Saudi Arabia and will give Daelim Co., Ltd. the opportunity to service customers in the Middle East and markets across Europe and Asia.

Polyisobutylene manufacturers are tapping the political scenarios in the region and engaging with governments to strengthen their foothold in the market. For instance, in March 2021, Kothari Petrochemicals received consent to operate for expansion from the Pollution Control Board in India. This expansion consent obtained from the government agency is expected to increase the production capacity of polybutylene.

Key polyisobutylene manufacturers are carrying out different marketing initiatives to increase their brand presence in the market. For instance, in August 2021, Chevron Oronite, a part of Chevron Corporation, sponsored and exhibited their products, including polyisobutylene, dispersants, PIBSA, and other products at the Specialty & Agro Chemicals America conference. Such initiatives are expected to result in promoting their brand in the market for polyisobutylene.

Grand View Research has segmented the global polyisobutylene market on the basis of product, application, and region:

• Polyisobutylene Product Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)
• High Molecular Weight
• Medium Molecular Weight
• Low Molecular Weight
• Polyisobutylene Application Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)
• Adhesives & Sealants
• Automotive Rubber Components
• Fuel Additives
• Lubricant Additives
• Others
• Polyisobutylene Regional Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)
• North America
• U.S.
• Canada
• Mexico
• Europe
• Italy
• France
• Asia Pacific
• China
• India
• Central & South America
• Brazil
• Middle East & Africa

List of Key Players of Polyisobutylene Market

• BASF SE
• Daelim Co., Ltd.
• TPC Group
• INEOS
• Kothari Petrochemicals
• Braskem
• ENEOS Corporation
• Zhejiang Shunda New Material Co., Ltd.
• Shandong Hongrui New Material Technology Co., Ltd.

Check out more studies related to application areas of polyisobutylene, conducted by Grand View Research:

• Adhesives and Sealants Market – The global adhesives and sealants market size was valued at USD 52.55 billion in 2017 and is expected to witness a CAGR of 5.6% from 2018 to 2025. Increasing demand from automotive, construction, packaging, furniture, footwear, and pressure-sensitive applications is the primary factor driving growth.
• Automotive Noise, Vibration & Harshness Materials Market – The global automotive noise, vibration & harshness materials market size was estimated at USD 8.02 billion in 2015. Globally, increasing production and use of heavy commercial vehicles in different end-use verticals is expected to be a key factor driving market growth.
• Lubricant Additives Market – The global lubricant additives market size was USD 14.35 billion in 2015. The industry is characterized by increasing additive usage in base oil blending for longer service life and performance. These additives improve the viscosity of the oil, act as antioxidants and corrosion inhibitors in combustion engines, and reduce oil decomposition.

Browse through Grand View Research's coverage of the Global Plastics, Polymers & Resins Industry

Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com
Follow Us: LinkedIn | Twitter 

Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg

SOURCE Grand View Research, Inc.