Polyisobutylene (PIB) Market Demand, Size, Product Trends, Key Companies, Revenue Share Analysis, 2028

Reports And Data

Polyisobutylene (PIB) Market Size – USD 2.77 Billion in 2020, Market Growth - CAGR of 5.5%, Market Trends – Rising demand from the tire industry.

NEW YORK CITY, NY, UNITED STATES, December 18, 2021 /EINPresswire.com/ -- The Global Polyisobutylene (PIB) Market is forecasted to reach USD 4.24 Billion by 2028, according to a new report by Reports and Data.
Polyisobutylene (PIB) is a commercial polymer used in multiple sectors due to its flexibility, thermal stability, and impermeability to gases. It is also used for the manufacture of tubeless tires as it is able to hold air for a longer period of time.

Polyisobutylene (PIB) includes oxidation resistance, improved stability, and superior impermeability. Improvement in weathering resistance for the manufacture of pharmaceutical stoppers, construction sealants, hosepipes, and various mechanical goods is expected to encourage the growth of the market. Polyisobutylene (PIB) is used as a sealant in the sealing of photovoltaic system panels. This is owing to its improved properties of electrical insulation and resistance to gasses, and water vapor.

Expansion of the automotive industry in emerging nations such as the Middle East and the Asia Pacific is boosting the market in the region. On account of improving the road infrastructure, increase in spending ability and rise in ownership of vehicles per person is fueling the market for Polyisobutylene (PIB). The rapid growth of end user including automotive and construction sector is further encouraging the market.

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Some key players mentioned in the report are:
BASF SE, TPC Group Inc., Ineos Group, Braskem, Exxon Mobil, Lanxess AG, Chevron Oronite Company LLC, Infineum International Ltd., The Lubrizol Corporation, and Berkshire Hathaway Inc. among

Further key findings from the report suggest:

Polyisobutylene (PIB) is preferred over other synthetic and natural rubbers due to its good fragmentation performance, high cleanliness, and its self-healing nature.
Tires hold a market share of 19% in the year 2020. The ability of the product to hold air in for a longer period of time in the tube is increasing the demand for the product in this sector.
2-Strokes Engine has the highest growth rate of 6.9% throughout the forecast period.
Automotive dominates the market with a share of 21% of the market in the year 2020. Increasing application of Polyisobutylene (PIB) in the tire industry to improve heat retention capabilities during tire vulcanization is further forecasted to boost the market.
Polyisobutylene (PIB) with high molecular weight holds the largest market share of 35% in the year 2020. It has a high demand in industries like sealants and automotive owing to its oxidation, superior UV and high resistance property.
Increase in demand for packaging in the pharmaceutical industry to help preserve the quality of drugs is boosting the demand for the product in this sector also.
Pharmaceuticals is forecasted to grow with the highest CAGR of 6.4% throughout the forecast period.
APAC holds a market share of 24% in the year 2020. Emergence and expansion of automotive and sealant industries in APAC are fuelling the market growth.
Rising investment for the development of the product in the petrochemical sector will also propel the market growth in the Asia Pacific region. The region is forecasted to grow with a CAGR of 6.0% throughout the forecast period.

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Market Overview:
Chemicals are required in many industrial processes. As a result, the materials and chemicals industry is inextricably linked to other sectors. When one is utilized to produce the other, there is a correlation. Other industries use chemicals from chemical makers and suppliers as raw materials.

More than 70% of chemical industry products are being consumed by other industries, with roughly 20% being used by the industry for other purposes. This 70 percent supports food and health, textiles, transportation, medications, and other sectors. Only 10% of the products are intended to be sold to the general public. The expansion of the materials and chemicals business is dependent on demand from other industries. As a result, supply is directly affected by increased manufacturing rates in other industries.

The report offers intricate dynamics about the different aspects of the Polyisobutylene (PIB) market, which aids companies operating in the market in making strategic development decisions. This study also elaborates on the significant changes that are highly anticipated to configure the growth of the Polyisobutylene (PIB) market, during the forecast period.

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On the basis of types:
Conventional PIB
Highly Reactive PIB

On the basis of Application:
Tires
Lubes Additives
Fuel Additives
2-Stroke Engines
Industrial Lubes and Others
Adhesives and Sealants

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On the basis of regions into:
North America
Asia Pacific
Latin America
Middle East & Africa

Polyisobutylene (PIB) Market Demand, Size, Product Trends, Key Companies, Revenue Share Analysis, 2028

Distribution channels: Chemical Industry

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