Polyisobutylene Market Value to Reach US$ 8.9 Bn by 2031, Transparency Market Research, Inc.

Friday, 16 December 2022 10:33 AM

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WILMINGTON, DE / ACCESSWIRE / December 16, 2022 / Transparency Market Research Inc. - According to a study published by Transparency Market Research, the global Polyisobutylene Market is expected to grow at a compound annual growth rate (CAGR) of 5.6% during the forecast period between 2022 and 2031.

Polyisobutylene is a commercial polymer product that was first manufactured in Germany in 1931 and witnessed increased demand in countries such as the U.S., in the production of butyl rubber in the 1940s due to the reduced availability of natural rubber.

Polyisobutylene has been used over the past few decades in several industries owing to its characteristics, such as improved stability and flexibility to heat and permeability to different gases. Additionally, polyisobutylene derivatives have been used as a thickening agent in automotive fuel products, which has helped in market growth. Some of the applications of polyisobutylene include automotive, lubricants, adhesives & sealants, and tires & tubes.

The launch of new products is helping leading market players in gaining an edge over competitors and generate new revenue streams. Collaboration with other players is helping prominent Polyisobutylene Market players in expanding their overall presence and improve their revenue.

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Key Findings of Market Study

  • Increase in Deployment in Lubricating Oil Boosting Polyisobutylene Industry: Lubricating oils are being used in different machinery across numerous end-use industries. Medium molecular weight polyisobutylene is used in lubricating oil to help improve the viscosity and resistance to different pressures when applied to lubricant grease. An increase in demand for medium molecular weight polyisobutylene in lubricating oils is triggering the overall market development.
  • Rise in Demand for High Molecular Weight Polyisobutylene Propelling Market Growth: Based on product, high molecular weight polyisobutylene held the largest market share in 2021. An increase in product demand for manufacturing resin plasticizers and polymer modifiers owing to product characteristics, such as improved oxidative stability and thermal stability, played a key role in the growth of the product segment and assisted in the polyisobutylene industry's growth.

Polyisobutylene Market - Key Drivers

  • The rise in usage in medical packaging applications owing to benefits such as increased chemical resistance and reduced permeability for air and moisture is driving the global Polyisobutylene Market
  • An increase in adoption from the tubes and tires industries is boosting the market demand for polyisobutylene
  • Continuous expansion witnessed in the automotive industry is augmenting the growth in the polybutylene industry

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Polyisobutylene Market - Regional Insights

  • Asia Pacific accounted for a major market share in 2021 due to an increase in automobile production, witnessed both in developed and developing economies, such as China and India
  • Europe is expected to witness significant growth in the global industry during the forecast period because of the rise in product demand in construction activities in countries such as the U.K. and Germany

Polyisobutylene Market - Key Players

Competition in the global Polyisobutylene Market is intense due to the presence of numerous international and local players. New players entering the market during the forecast timeline are likely to intensify the competition in the overall market.

Prominent players in the market are investing in research and development activities to help obtain environment-friendly and cost-effective solvents that could be deployed in the manufacturing of high-quality polyisobutylene.

A few key players in the global Polyisobutylene Market include:

  • The Lubrizol Corp.,
  • BASF,
  • Hongrui Petrochemicals Company Limited,
  • Chevron Corp., and Kothari Petrochemicals Limited.

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The global Polyisobutylene Market is segmented as:

Product Type

  • Low
  • Medium
  • High

Application

  • Tires & Tubes
  • Automotive
  • Lubricants
  • Adhesives & Sealants
  • Others (Medical, Dispersants, etc.)

Regions Covered

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

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About Transparency Market Research

Transparency Market Research, a global market research company registered in Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analyzed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

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SOURCE: Transparency Market Research Inc.



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