Polyisobutylene (PIB) Market size was valued at USD 2,843.1 Million in 2022, expanding at a CAGR of 6.2% from 2023 to 2030.
Elastomers (rubbers) are a class of synthetic polymers that include polyisobutylene (PIB), a type of plastic. It is created by polymerizing isobutylene, a gaseous hydrocarbon monomer that repeats itself to form lengthy chains.
Polyisobutylene (PIB) Market- Market Dynamics:
Growing demand for adhesive, sealants and lubricant additives is expected to propel the Polyisobutylene (PIB) demand.
PIB is used to make tire sidewalls and inner liners, the automobile industry is a significant consumer of this material. The need for PIB was anticipated to increase with the expansion of the automobile industry, particularly in emerging nations. PIB enhances the performance and lifespan of lubricants and motor oils by acting as a viscosity modifier and dispersion. The need for lubricants and associated additives rose along with the expansion of industrial activity and vehicle use. Due to its superior adhesive and sealing qualities, PIB is a valuable ingredient in a variety of adhesives and sealants used in the packaging, construction, and other sectors. The growth of these industries helped to drive up demand for PIB.
PIB enhances the performance and lifespan of lubricants and motor oils by acting as a viscosity modifier and dispersion. The need for lubricants and associated additives rose along with the expansion of industrial activity and vehicle use. Plasters, medical adhesives, and wound dressings are just a few examples of the healthcare-related items that use PIB. The demand for PIB in this industry is anticipated to rise owing to the increased focus on healthcare and medical breakthroughs around the world.
Polyisobutylene (PIB) Market- Key Insights:
- As per the analysis shared by our research analyst, the global Polyisobutylene (PIB) market is estimated to grow annually at a CAGR of around 6.2% over the forecast period (2023-2030)
- The Polyisobutylene (PIB) industry is projected to grow at a significant rate due to the growing focus on construction.
- Based on Application, tires segment was predicted to show maximum market share in the year 2022.
- Based on End User, transportation segment is expected to hold significant market share by 2030.
- Based on Product segmentation, C-PIB segment was the leading in 2022
- On the basis of region, North America was the leading revenue generator in 2022.
Polyisobutylene (PIB) Market- Segmentation Analysis:
The Global Polyisobutylene (PIB) Market is segmented on the basis of Product, Application, End User, and Region.
The market is divided into two categories based on Product: C-PIB and HR-PIB. The C-PIB segment dominates the market. Increasing demand from industrial, transportation sector is contributing to market growth.
The market is divided into three categories based on Application: tires, lube additives, and fuel additives. The tires segment dominates the market. Increasing demand from rubber materials is expected to boost the market growth.
The market is divided into four categories based on End User: transportation, industrial, food, and others. The transportation segment dominates the market. The rising demand for fuel, rubber additives in automotive industries is increasing the segment growth.
Polyisobutylene (PIB) Market- Geographical Insights:
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Polyisobutylene (PIB) Market- Competitive Landscape:
Owing to the rapid development in automotive, and rising demand from industrial areas, which influence the Polyisobutylene (PIB) market. Several manufacturers sell their products through, including corporate websites, and applications, are used by businesses to sell their solutions & Applications. Product manufacturers compete on various factors, such as material pricing, performance, composite creation, and marketing. reputation, and availability. Some of the primary techniques, and strategies used by corporations to consolidate their reach and expand their market share include new Application launches, R&D expenditure, developing its distribution network and mergers & acquisitions. Some of the recent developments are mentioned below.
In February 2021, BASF SE introduced its polyisobutylene product under the brand called OPPANOL C in the North America.
Key features of the study:
- This proposed research study on Polyisobutylene (PIB) market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
- The report provides the client the latest up-to-date and trending insights about the Polyisobutylene (PIB) market.
- The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Polyisobutylene (PIB) market
- The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Polyisobutylene (PIB) market
- Impact of COVID-19 on Polyisobutylene (PIB) market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Polyisobutylene (PIB) market post-COVID will also be covered.
- In order to give the users of this report a comprehensive view on the Polyisobutylene (PIB) market, we have also included competitive landscape and key innovator analysis for the Polyisobutylene (PIB) market.
- The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
- The report offers detailed company profiling featuring major market participants which will help users to understand their financial inspection and strategic initiatives of players operating in the Polyisobutylene (PIB) market.
- In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
- The global Polyisobutylene (PIB) market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL POLYISOBUTYLENE (PIB) MARKET KEY PLAYERS
- BASF SE
- ExxonMobil Corporation
- Lanxess AG
- TPC Group Inc.
- Daelim Industrial Co., Ltd.
- INEOS Group Holdings S.A.
- Chevron Phillips Chemical Company LLC
- Lubrizol Corporation (a subsidiary of Berkshire Hathaway Inc.)
- Braskem S.A.
- Zhejiang Shunda New Material Co., Ltd.
- Mayzo, Inc.
- Kothari Petrochemicals Limited
- Shandong Hongrui Petrochemical Co., Ltd.
- Proteux Global Energy Limited
- Jinzhou Petrochemical Corporation
GLOBAL POLYISOBUTYLENE (PIB) MARKET, BY PRODUCT
GLOBAL POLYISOBUTYLENE (PIB) MARKET, BY APPLICATION
- Lube additives
- Fuel additives
GLOBAL POLYISOBUTYLENE (PIB) MARKET, BY END USER
GLOBAL POLYISOBUTYLENE (PIB) MARKET, BY REGION
- North America
- The U.S.
- United Kingdom
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Rest of MEA