PUBLISHER: The Business Research Company | PRODUCT CODE: 1271059
PUBLISHER: The Business Research Company | PRODUCT CODE: 1271059
“Polyisobutylene Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on polyisobutylene market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for polyisobutylene ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The polyisobutylene market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Major players in the polyisobutylene market are BASF SE, TPC Group, Lubrizol Corporation, INEOS Group Limited, Kothari Petrochemicals Limited, Braskem, ENEOS Corporation, Janex S.A., RB Products Inc., Chevron Corporation, Mayzo Inc., Reliance Industries Limited, Evonik Industries AG, KEMAT N.V, Santa Cruz Biotechnology Inc. and KEMAT N.V
The global polyisobutylene market is expected to grow from $2.36 billion in 2022 to $2.51 billion in 2023 at a compound annual growth rate (CAGR) of 6.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The polyisobutylene market is expected to reach $3.13 billion in 2027 at a CAGR of 5.7%.
The polyisobutylene market consists of sales of polyisobutylene synthesized using raw materials such as 1-butene, isobutylene, and 2-butene. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Polyisobutene is an isobutylene-based synthetic polymer that is utilized as a film-forming agent. It is a binder, film-forming, and nonaqueous viscosity-increasing compound used in cosmetics.
Asia-Pacific was the largest region in the polyisobutylene market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main products of polyisobutylene are conventional PIB and highly reactive PIB. Highly-reactive polyisobutylene is a molecule with double bonds that are terminally positioned. They are categorized into low molecular weight, medium molecular weight, and high molecular weight for use in applications such as tires and tubes, adhesives, sealants, lubricants, electrical insulation, and stretch wrap and in various end-users including industrial and food and other end users.
Rising demand for the tires and tubes market is expected to propel the growth of the polyisobutylene market going forward. Tires and tubes are the automotive components that are helpful in transportation. Polyisobutylene is a synthetic rubber utilized in the production of tire inner tubes for buses, vehicles, lorries, and airplanes due to its ability to act as a barrier to the passage of oxygen, thus, an increase in demand for tires and tubeless tires is propelling the demand for polyisobutylene. For instance, in August 2022, according to an article published by U.S. Tire Manufacturers Association, a US-based trade association for the manufacturers producing tires, total tire shipments in the United States are expected to reach 342.1 million units in 2022, up from 335.2 million units in 2021 and 332.7 million units in 2019. Therefore, rising demand for the tires and tubes market is driving the growth of the polyisobutylene market.
Product innovations are a key trend gaining popularity in the polyisobutylene market. Major players operating in the market are developing innovative products with features such as high elongation qualities and elasticities, faster processing time, and others to sustain their position in the polyisobutylene market. For instance, in February 2021, BASF SE, a Germany-based provider of chemicals launched OPPANOL C, a novel, easier-to-process polyisobutylene. The unique features of the product include the one-inch chips that are used in the polyisobutylene product that enables easy processing and help clients to minimize product development time and manufacturing procedures. This novel nonhazardous, high-purity PIB also has a manageable handling size for fine formulation customization.
Increasing demand in the construction industry is expected to propel the growth of the Polyisobutylene market going forward. The construction industry refers to the building of new infrastructures. Polyisobutylene is mostly used for the production of anticorrosion coatings, pastes, glues, and coatings in the construction industry, as a result, increasing demand in construction increases the demand for the polyisobutylene market. For instance, in September 2022, there is a 4% increase in the construction of housing units with 1,337,800 new housing units in 2021 compared to 2020. Therefore, increasing demand in the construction industry drives the polyisobutylene market.
The countries covered in the polyisobutylene market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The polyisobutylene market research report is one of a series of new reports from The Business Research Company that provides polyisobutylene market statistics, including polyisobutylene optical components industry global market size, regional shares, competitors with a polyisobutylene market share, detailed polyisobutylene market segments, market trends and opportunities, and any further data you may need to thrive in the polyisobutylene industry. This polyisobutylene market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.