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The polyisobutylene industry is driven by the rising demand for lubricants, sealants, fuel additives, and rubbers in various industrial applications. Over the forecast period, the expansion of the construction sector in the emerging economies, owing to the rapid urbanisation and industrialization, is likely to propel the sales of polyisobutylene. Furthermore, the rising demand for tires in the manufacturing sector will further aid the market.
In February 2021, BASF (OTCMKTS: BASFY) announced the launch of OPPANOL C in North America, which is known to be an easier to process polyisobutene form. The product is a unique PIB product which is produced as one-inch chips and will be capable of reducing the development time of derivatives by minimising manufacturing steps.
In terms of region, the Asia Pacific is likely to account for a considerable share in the market and is anticipated to witness a robust growth in the forecast period. The market in the region is driven by the expansion of large tube and tire manufacturing companies owing to the rapidly growing automobile sector. The thriving building and construction sector owing to the rising disposable income and increasing population in countries like India and China is expected to further provide impetus to the market.
Market Breakup by Molecular Weight, Type, End Use, Application, and Region:
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The major players in the global polyisobutylene market are BASF SE, Kothari Petrochemicals Limited, Ineos Group Ltd, Reliance Industries Limited., and The Lubrizol Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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