Polyisobutylene Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
Global Polyisobutylene Market: Overview
Polyisobutylene is a commercial polymer that has widespread applications across numerous industries owing to its superior thermal stability, flexibility, and impermeability to gases. PIB is majorly used in the manufacture of inner tire tubes and adhesives and sealants.
The derivatives of PIB are used as thickening agent in motor fuels and in lubricating oils to minimize oil mist production.
Global Polyisobutylene Market: Key Trends
The global polyisobutylene (PIB) market is primarily driven by the strong demand from the tires and tubes manufacturing industries. Rubbers that contain PIB, stryrene-butadiene rubber, and nitrile rubber are preferred over conventional ones due to their impermeable nature. With increasing demand for tubeless tires due to their durability and low maintenance cost, the PIB market is expected to receive a boost.
Overall, robust demand for automotives in North America and Europe combined with increasing demand for automotives in BRIC nations with changing consumer demographics will favor the industry’s growth.
PIB is extensively used in medical packaging due to its high chemical resistance and its low permeability to air, gases, and moisture. The other medical packaging applications of PIB include saline bottles, injectables, serum vials, and seals. Moreover, high cleanliness, good fragmentation performance, and excellent self-healing are the advantages that PIB rubber offers over natural and other synthetic rubbers.
However, the PIB market faces certain growth constraints as well. The use of PIB as a lubricant in ship engines contaminates water, thereby affecting aquatic life by causing genetic alterations and deaths. Thus, measures for environment protection along with stringent government stipulations may challenge the market’s growth.
Nevertheless, increasing R&D efforts, rising usage of PIB in tubeless tire manufacturing, and technological advancements will open substantial opportunities for the growth of the PIB market.
Global Polyisobutylene Market: Market Potential
The PIB market is marked by strategic alliances and collaborations to attain business goals. In a recent industry development, Daelim Industrial, the South Korean petrochemical company has entered into a contract with the U.S. based chemical company Lubrizol to supply its PIB production technology. The agreement is a part of Lubrizol’s initiatives to remodel its additives infrastructure to be carried out under an investment plan that was previously announced.
As per Daelim, the technology can be utilized in the production of several PIBs, from conventional ones to highly reactive PIBs.
Global Polyisobutylene Market: Regional Overview
North America, led by the U.S. is expected to witness substantial growth in the polyisobutylene market over the forecast period. Increasing demand for durable car tires for strong grip on the road in snow will have a positive influence on the growth of the regional market. Massive automobile ownership in the U.S. is expected to drive the demand for additives application of polyisobutylene. Moreover, the booming construction industry in the U.S. will propel the demand for adhesives and sealant applications.
Asia Pacific stood as the largest regional market in the recent past. The presence of robust tire and tube manufacturing industries in India, China, Indonesia, and Malaysia significantly contributed to the growth of the regional market. Increasing automobile ownership in China and India due to rising economic prosperity along with decline in interest rates on car loans will favor the polyisobutylene market in the region.
Global Polyisobutylene Market: Competitive Landscape
Some of the key players in the global polyisobutylene market include BASF SE, Lanxness AG, The Lubrizol Corporation, Infeneum International Ltd., ExxonMobil Corporation, TPC Group, Chevron Oronite Company LLC, and Berkshire Hathaway Inc.
The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.
TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.
TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.
5-Point Growth Formula
The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.
The 5-point growth formula includes the following points:
Current and Future Threats
Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.
Accurate Trend Analysis
Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.
Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.
The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.
The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.
The reports offer answers to the top 7 questions that revolve around the growth of the market
Flat 10% discount on Single User License if you prebook this report
Flat 10% discount on Multiple User License if you prebook this report
Flat 10% discount on Corporate License if you prebook this report