Global Polyisobutylene Market Segments 2024, Forecast To 2033
5 Mar, 2024
The polyisobutylene market has experienced robust growth, rising from $2.49 billion in 2023 to $2.65 billion in 2024, achieving a 6.5% CAGR. Historic growth is attributed to an increase in lubricant and fuel additives, the expansion of construction and infrastructure, a rise in demand for industrial rubber, an increase in polymer modification applications, growth in the adhesives and sealants industry, and stringent regulations in the chemical industry. The market is expected to sustain strong growth, reaching $3.4 billion in 2028 with a 6.4% CAGR. Anticipated growth is driven by advancements in polymer science, an increased demand for biodegradable polymers, a focus on sustainable packaging, an increase in demand for synthetic rubber, and the demand for high-performance lubricants, with major trends including technological innovations in tire manufacturing, advancements in polymer modification, high molecular weight PIB, globalization and market expansion, and technological innovations in PIB production.
Global Polyisobutylene Market Key Driver
The polyisobutylene market is thriving due to the rising demand in the tires and tubes industry. The US is expected to witness a surge in tire shipments, reaching 342.1 million units in 2022. Increased demand for tires and tubes is a key driver for polyisobutylene market growth.
Get A Free Sample Of The Global Polyisobutylene Market ReportGlobal Polyisobutylene Market Segments
The polyisobutylene market covered in this report is segmented –
1) By Product: Conventional PIB, Highly Reactive PIB
2) By Molecular Weight: Low Molecular Weight, Medium Molecular Weight, High Molecular Weight
3) By Application: Tires And Tubes, Adhesives, Sealants, Lubricants, Electrical Insulation, Stretch Wrap
4) By End User Industry: Industrial, Food, Other End User Industries
By Geography: The regions covered in the anti inflammatory therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
Asia-Pacific was the largest region in the polyisobutylene market in 2023. Asia-Pacific is expected to be the fastest-growing region in the polyisobutylene market during the forecast period. The regions covered in the polyisobutylene market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Polyisobutylene Industry Players
Badische Anilin und Soda Fabrik Societas Europaea; TPC Group; Lubrizol Corporation; INEOS Group Limited; Kothari Petrochemicals Limited; Braskem; ENEOS Corporation; Janex S.A.; RB Products Inc.; Chevron Corporation; Mayzo Inc.; Reliance Industries Limited; Evonik Industries AG; KEMAT N.V; Santa Cruz Biotechnology Inc; Daelim Industrial Company Ltd; ExxonMobil; Lanxess; Dowpol Corporation; The Lubrizol Corporation; Infineum; Shandong Hongrui New Material Technology; Afton Chemical Corporation; Zhejiang Shunda New Material; SABIC; Kemipex; FERRO-PLAST S.r.l.; SpecialChem; Chemspec Ltd.; Jilin Petrochemical Company; Efremov Synthetic Rubber Enterprise Company; Naxant; Connect Chemicals; JXTG Nippon Oil & Energy Corporation
Get The Full Global Polyisobutylene Market Report
AIOps Polyisobutylene Market Overview
Polyisobutylene is an isobutylene-based synthetic polymer that is utilized as a film-forming agent. It is a binder, film-forming, and nonaqueous viscosity-increasing compound used in cosmetics.
Polyisobutylene Global Market Report 2023 provides data on the global polyisobutylene market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The polyisobutylene market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.