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Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

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.

Global Polyisobutylene Market Report Summary Description Value
Base Year USD Billion 2023
Historical Period USD Billion 2018-2023
Forecast Period USD Billion 2024-2032
Market Size 2023 USD Billion 3.09
Market Size 2032 USD Billion 4.73
CAGR 2018-2023 Percentage XX%
CAGR 2024-2032 Percentage 4.8%
CAGR 2024-2032 - Market by Region Asia Pacific 5.5%
CAGR 2024-2032 - Market by Country China 5.3%
CAGR 2024-2032 - Market by Country Canada 5.0%
CAGR 2024-2032 - Market by Molecular Weight High 5.4%
CAGR 2024-2032 - Market by Product Type Highly Reactive PIB 5.2%
Market Share by Country 2023 India 4.1%

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.

Global Polyisobutylene Market

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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.

Global Polyisobutylene Market by Segment

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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
CAGR 2024-2032 - Market by Country
China 5.3%
Canada 5.0%
UK 4.4%
Germany 4.0%
Australia 3.8%
USA XX%
France XX%
Italy 3.4%
India XX%
Saudi Arabia XX%
Brazil XX%
Mexico XX%
Japan 3.3%

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

Global Polyisobutylene Market by Region

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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

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Molecular Weight
  • Product Type
  • End Use
  • Application
  • Region
Breakup by Molecular Weight
  • Low
  • Medium
  • High
Breakup by Product Type
  • Conventional PIB
  • Highly Reactive PIB
Breakup by End Use
  • Automobile
  • Industrial
  • Food
  • Others
Breakup by Application
  • Tires
  • Lube Additives
  • Fuel Additives
  • 2-Stroke Engines
  • Industrial Lubes
  • Adhesives and Sealants
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • BASF SE
  • Kothari Petrochemicals Limited
  • Ineos Group Ltd
  • Reliance Industries Limited.
  • The Lubrizol Corporation
  • Others
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2023, the global polyisobutylene market attained a value of more than USD 3.09 billion.

The market is estimated to grow at a CAGR of 4.8% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach over USD 4.73 billion by 2032.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The major drivers of the market include the rising application of polyisobutylene in the industrial sector, rising demand for tires, and the growing automotive sector.

The rising investments by the manufacturers towards augmenting the supply chain management of the product to cater to its growing demand and the ongoing technological advancements are expected to be a key trend guiding the growth of the industry.

Low, medium, and high are the different segments based on molecular weight.

Conventional PIB and highly reactive PIB are the major product types of polyisobutylene.

Automobile, industrial, and food, among others are the significant end uses of the product.

Tires, lube additives, fuel additives, 2-stroke engines, industrial lubes, and adhesives and sealants, among others is the different applications in the polyisobutylene market.

The major players in the industry are BASF SE, Kothari Petrochemicals Limited, Ineos Group Ltd, Reliance Industries Limited., and The Lubrizol Corporation, among others.

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