Growing demand from end-use industries such as pharmaceutical, sealants, automotive and fuel additives is pushing the growth of the market.
Market Size – USD 2.45 Billion in 2018, Market Growth – CAGR of 5.5%, Market Trends – Rising demand from the tire industry.
The Global Polyisobutylene (PIB) Market is forecasted to reach USD 3.80 Billion by 2026, 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.
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Major companies profiled in the report include:
- BASF SE,
- TPC Group Inc.,
- Ineos Group,
- Exxon Mobil,
- Lanxess AG,
- Chevron Oronite Company LLC,
- Infineum International Ltd.,
- The Lubrizol Corporation,
- and Berkshire Hathaway Inc.
- Conventional POLYISOBUTYLENE (PIB)
- Highly Reactive POLYISOBUTYLENE (PIB)
- Lubes Additives
- Fuel Additives
- 2-Stroke Engines
- Industrial Lubes and Others
- Adhesives and Sealants
Regional Analysis of the Polyisobutylene (PIB) Market:
The global Polyisobutylene (PIB) Market is categorized into several leading geographical regions, including North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The report emphasizes the demands and trends for the market, more essentially, in the global market that is spread across the major regions of the world. Under this section of the report, the global Polyisobutylene (PIB) Market presence across the major regions in terms of the global market share, market size, revenue contribution, sales network, and distribution channels has been analyzed.
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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 2018. 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 2018. 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 2018. 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.
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