Global Polyisobutylene Market to Grow at a CAGR of 4.8% During 2024-2032, Aided by the Rising Demand for Lubricants, Sealants, Fuel Additives and Rubber in Various Industries

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.

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Market Breakup by Molecular Weight, Type, End Use, Application, and Region:

• The market is segmented based on molecular weight into low, medium, and high.

• The major types of polyisobutylene in the market include conventional PIB and highly reactive PIB.

• The different end uses of the product include automobile, industrial, and food, among others.

• The major applications of the product include tires, lube additives, fuel additives, 2-stroke engines, industrial lubes, and adhesives and sealants, among others.

• Region-wise, the global market for polyisobutylene can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global market for polyisobutylene is being driven by the rising application of the product in various industries including food and automobile.

• The rising demand for tires and tubes is anticipated to further augment the market growth.

• In addition to this, the expansion of the leading chemical companies, especially in emerging economies, is likely to aid the market.

• The market is expected to be further aided by the rising demand for lubricants in various end use industries, coupled with rapid industrialisation.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for polyisobutylene for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the molecular weight, types, end uses, applications, and regions of polyisobutylene.

• It assesses the regional price trends for the (2018-2023) and (2024-2032) periods.

• The market report also analyses the trade data by covering the major importing and exporting countries.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

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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