San Francisco, 13 December 2018: The Report Polyisobutylene (PIB) Market Analysis By Product (High Molecular Weight, Medium Molecular
Weight, Low Molecular Weight), By Application (Automotive, Additive) And
Segment Forecasts To 2024
According to a report by Grand View Research,
Inc., global polyisobutylene market is anticipated to value USD 7.71 billion by
2024. Growing requirement of superior and environment-friendly raw material is
anticipated to propel demand for polyisobutylene.
Increasing use of polyisobutylene in
manufacturing of automobile tires attributed to its impermeability to gasses
and moisture can augment growth of market. Growing adoption of product in
manufacturing of pharmaceutical stoppers, construction sealants, hosepipes, and
various other mechanical goods owing to better weathering resistance. High
product demand in adhesives sector can stimulate growth of market. Properties
such as flexibility, lightweight, and dielectric are likely to fuel use of
polyisobutylene in manufacturing of electric wire coatings.
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| Polyisobutylene (PIB) Market |
Based on product, the market can be categorized
into low molecular weight, medium molecular weight, and high molecular weight. In
2015, high molecular weight polyisobutylene segment dominated the market and
account for market share equivalent to USD 3.68 billion. Increasing use of
product in sealants and automobiles owing to its superior oxidation, ultra
violet (UV), and heat resistance properties. In addition, increasing use of electric
wire coatings to lightweight, improved flexibility, dielectric properties can
drive growth of market during the forecast period. It can be used in
manufacturing of roofing sheets.
Access Research Report of Polyisobutylene
(PIB) Market@ www.grandviewresearch.com/industry-analysis/polyisobutylene-pib-market
Similarly, medium molecular weight polyisobutylene
segment accounted for 9.2% market share in that same year. The segment is
expected to grow at CAGR of 5% from 2016 to 2024. Increasing use in adhesives
sector can fuel product demand during the forecast period. In addition, use of
medium molecular weight polyisobutylene in food and beverage sector for food
packaging owing to its hydrophobic stability, anti-bacterial performance, high
temperature resistance, adhesive nature and low toxicity absorption can augment
growth of segment over the forecast period.
Based on application, the market can be
classified into additive, automotive, and others. In 2015, automotive sector
dominated the market and accounted for 75% market share. Increasing use of
product based butyl rubber to manufacture tubeless tires attributed to improved
air retaining and bonding properties can drive demand during the forecast
period. In addition, increasing use of PIB in tire sector on account of
improved heat retention capabilities during vulcanization can augment demand.
Moreover, increasing use of product in manufacturing of automobile components
including hosepipes, gaskets, and window strips can fuel market growth.
Properties such as impermeability, thermal stability, and improved oxidization
are likely to influence growth of market. Rising demand for automobiles in Asia
Pacific and Middle East & Africa attributed to improving road
infrastructure and increasing disposable income can fuel growth of segment.
Browse more reports of this category by
Grand View Research at: www.grandviewresearch.com/industry/plastics-polymers-and-resins
In 2015, additive segment accounted for 11% of
overall market in terms of volume. It is predicted to grow at CAGR of 6.9% from
2016 to 2024. Increasing R&D investments to enhance performance of diesel
and gasoline fuel can propel demand for fuel additives during the forecast
period. In addition, increasing use of PIB in lubricant additives owing to its deposit
control property can propel growth in manufacturing sector during the forecast
period.
Regional segmentation includes Europe, North
America, Asia Pacific, Latin America, and Middle East & Africa. In 2015,
Europe dominated the market and accounted for 43.7% of global volume. High
demand for PIB in tire, automotive, and adhesives sectors can fuel growth of
market in the region. Growing investments by petrochemical giants in R&D to
develop new eco-friendly products can accelerate growth in the region. In
addition, rising demand for packaging in pharmaceutical sector to preserve
efficacy of drugs can augment growth during the forecast period.
In Asia Pacific, the market is predicted to
witness significant share owing to rising investments by petrochemical
companies in development of innovative products. In addition, high demand for polyisobutylene
in end-use sectors such as sealants and automotive can fuel growth.
In North America, the market is predicted to
grow well owing to increasing emphasis by local governments towards
eco-friendly polyisobutylene products can fuel growth in innovations. This, in
turn can stimulate growth of market in the region over the forecast period.
Some of the leading companies offering polyisobutylene
are Lanxess AG, BASF SE, Exxon Mobil, TPC Group, and INEOS.
Access Press Release of
Polyisobutylene
(PIB) Market@ www.grandviewresearch.com/press-release/global-polyisobutylene-pib-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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