Global Polyisobutylene Market Report and Forecast 2024-2032

Global Polyisobutylene Market Outlook

The global polyisobutylene market stood at a value of more than USD 3.09 billion in 2023. The market is further expected to grow at a CAGR of 4.8% in the forecast period of 2024-2032 to attain a value of over USD 4.73 billion by 2032.

Increased Demand for Highly Reactive Polyisobutylene to Aid the Market

The highly reactive PIB segment, based on type, accounts for a significant share in the market owing to the high viscosity and the ability of this type of polyisobutylene to deliver excellent results in lubricant thickening. In addition to this, the high reactivity of PIB, which is attributed to the terminal location of the double bonds, allows it to react more quickly, resulting in efficient and fast production of derivatives. This makes it ideal for the production of dispersants and detergents. Furthermore, the favourable properties of HR PIB, which include high degree elongation, moisture resistance, and good adhesion properties to multiple substrates makes it suitable for the production of sealants. Hence, this segment is anticipated to grow at a significant rate in the forecast period.

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The Asia Pacific Accounts for a Significant Share in the Polyisobutylene Industry

The polyisobutylene industry in the Asia Pacific is driven by the expansion of large tube and tire manufacturing companies in the region owing to the thriving automotive sector in countries like India and China. In India, the increasing foreign direct investments (FDI) and the favourable government initiatives are likely to propel the demand for polyisobutylene in order to augment domestic manufacturing. The market in the region will further be aided by the rapid urbanisation and infrastructure development, which will generate the demand for polyisobutylene in various applications.

Polyisobutylene: Market Segmentation

Polyisobutylene is defined as a type of elastomer which is formed at a low temperature in the presence of metal halide, which acts as a catalyst. In other words, polyisobutylene is a polymer of isobutylene, which is generally used in the manufacture of synthetic rubber.

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Based on molecular weight, the market can be segmented into:

• Low
• Medium
• High

The major product types available in the market include:

• Conventional PIB
• Highly Reactive PIB

The segmentation of the market, on the basis of end use, includes:

• Automobile
• Industrial
• Food
• Others

The significant applications of the product include:

• Tires
• Lube Additives
• Fuel Additives
• 2-Stroke Engines
• Industrial Lubes
• Adhesives and Sealants
• Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Rising Application of Polyisobutylene in the Automobile Sector to Boost the Growth of the Polyisobutylene Industry

The global polyisobutylene industry is driven by the rising application of the product in the automobile industry. In emerging economies, the rising demand for commercial automobiles for the transportation purpose and the growing popularity of passenger vehicles owing to the rising disposable income and rising leisure activities are likely to generate a significant demand for polyisobutylene in the forecast period. Furthermore, the rising industrial activities owing to the expansion of various sectors, including construction, are likely to boost the market growth.

Key Industry Players in the Global Polyisobutylene Market

The report gives a detailed analysis of the following key players in the global polyisobutylene market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• BASF SE
• Kothari Petrochemicals Limited
• Ineos Group Ltd
• Reliance Industries Limited.
• The Lubrizol Corporation
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report