January 25, 2022 09:23 ET | Source: The Insight Partners The Insight Partners
New York, Jan. 25, 2022 (GLOBE NEWSWIRE) -- According to our new research study on “Polyisobutylene Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Molecular Weight (Low, Medium, and High), Product (Conventional PIB and Highly Reactive PIB), Application (Tires, Industrial Lubes and Lube Additives, Fuel Additives, Adhesives and Sealants, and Others), and End-Use Industry (Industrial, Food, and Others)”, published by The Insight Partners.
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Polyisobutylene Market: Competition Landscape and Key Developments BASF SE, Braskem SA, Daelim Industrial Petrochemical Division, Ineos AG, Infineum International Limited, Kemat Polybutenes, Kothari Petrochemicals, Sibur Holding PJSC, The Lubrizol Corporation, and TPC Group are among the key players in the polyisobutylene market. These market players are highly focused on developing high-quality and innovative products to meet the customer’s requirements. For instance, in 2019, Daelim Industrial Petrochemical Division announced plans to build and operate polyisobutylene plant in Saudi Arabia. The plant is a joint venture between Saudi Arabia's Aramco and France's Total and a part of a large-scale petrochemical complex that is built in the Jubeil Industrial Complex in eastern Saudi Arabia.
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The polyisobutylene market in Asia-Pacific is projected to grow at the highest CAGR during the forecast period. Developed and developing countries such as Japan, China, India, and South Korea are witnessing significant industrialization which has led to considerable demand for polyisobutylene in the region. The presence of renowned tire and tube manufacturing companies in China, India, Indonesia, and Malaysia is the major factor contributing the regional business growth. Further, growing investments in the research and development activities and increasing the use of polyisobutylene in multiple end-user industry sectors such as automotive, construction, electronics, and others are propelling the market growth in this region.
Increasing Demand for Polyisobutylene From Developed and Developing Economies to Open Lucrative Growth Opportunities for Polyisobutylene Manufacturers during Forecast Period: Demand for polyisobutylene in the North American market is anticipated to grow due to the presence of established leading automotive manufacturers such as Tesla Inc. and Ford Motors which are focused on research and development activities. Besides, there is higher demand and production for large engine capacity vehicles such as extended cabs in the region. The automotive market is inclined towards light trucks and SUVs, owing to their better traction in changing weather conditions and off-road capabilities. Also, light commercial vehicle production in North America is increasing. The automotive industry of North America is one of the most advanced across the globe, with substantial investments in infrastructure, R&D activities, and new production facilities.
Furthermore, there is increasing demand for polyisobutylene in the Asia Pacific due to the surging demand from key sectors such as automotive, cosmetics, construction, and aerospace, in economies such as India and China. The growing market in the Asia Pacific owing to the growth in industrial production is predicted to surge the demand for industrial oil products during the projection period. The chemical and mining sectors are the largest consumers of industrial lubricants such as hydraulics, centrifuges, compressors, industrial engines, and bearings. Thus, the growing demand from multiple end-use industries in developed and developing economies is anticipated to create lucrative growth opportunities for polyisobutylene manufacturers during the forecast period.
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Polyisobutylene Market: Segmental Overview By molecular weight, the polyisobutylene market is segmented into low, medium, and high. The high segment held the largest market share in 2020. Polyisobutylene with a high molecular weight has an average weight of 500,000 to 1,200,000 g/mol. High-molecular-weight polyisobutylene is strong and elastic and is used to adjust properties, including flexibility, elongation, cohesive strength, and gas barrier performance. Therefore, high molecular weight polyisobutylene has wide applications in adhesives, sealants, pharmaceutical, medical, automotive, fuels, lubricants, and others. These factors are propelling the growth of the market for the segment.
By product, the polyisobutylene market is bifurcated into conventional PIB and highly reactive PIB. The market for the highly reactive PIB segment is expected to grow at the highest rate during the forecast period. Highly reactive polyisobutylene is an important intermediate used for the producing of high-performance fuel & lubricant additives, including fuel detergents or dispersants for engine oils, additives for sludge prevention. The adoption of highly reactive polyisobutylene is increasing, owing to higher reactivity in various downstream functionalization reactions. Besides, highly reactive polyisobutylene has an array of end uses in various industries, including automotive, packaging, and industrial. These factors are propelling the growth of the market for the segment. Based on application, the polyisobutylene market is segmented into tires, industrial lubes and lube additives, fuel additives, adhesives and sealants, and others. The industrial lubes and lube additives segment is projected to register the highest CAGR during the forecast period. Polyisobutylene is reacted with maleic anhydride to form polyisobutenyl- succinic-anhydride, a basic building block for dispersants in lube oils and detergents in fuels. Its other variant polyisobutylene-succinimide derived from polyisobutylene acts as an antioxidant emulsifier in soluble metalworking fluids and a lube additive building block. Polyisobutylene also burns cleaner, making them ideal for use in two-stroke engines oils and marine applications where lubricants are subjected to harsh blow-by gases from huge diesel engines which is expected to bolster the segment growth in coming years.
Based on the end-use industry, the polyisobutylene market is segmented into industrial, food, and others. The industrial segment is projected to register the highest CAGR during the forecast period. Polyisobutylene is widely used in industrial applications and end-use industries such as pesticides and insecticides, automotive, and electrical. Besides, higher grade polyisobutylene is widely used in cling wrap, packaging films, bale silage wrap, and stretch wrap owing to their tackiness, good clarity, clinging properties, and durability.
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Impact of COVID-19 Pandemic on Polyisobutylene Market: Due to the COVID-19 pandemic, many industries, such as automotive, cosmetics, and aerospace, and others, faced unprecedented challenges. For instance, the pandemic has had a severe impact on the automotive industry worldwide owing to disruption in large-scale production interruptions across Europe and the closure of assembly plants in the US. This is likely to negatively impact the demand for polyisobutylene across the globe. However, as the economies are reviving their operations, the demand for polyisobutylene is expected to grow globally in the coming months. For instance, the pandemic has boosted the construction sector to establish hospitals on a priority basis in North America. Thus, the growth in the construction industry during the pandemic is predicted to surge the demand for adhesives & sealants, thereby positively influencing the polyisobutylene market growth during the forecast period.
Browse Adjoining Reports: Highly Reactive Polyisobutylene (HR-PIB) Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application (Fuel and Lubricant Additives, Sealants and Adhesives, Others); End Use (Automotive, Industrial, Others) and Geography
Medium Molecular Weight Polyisobutylene Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Grade (Industrial Grade, Food Grade); Application (Sealant, Adhesive, Lubricant Greases, Rubber Modifier, Gum Base, Others.); End Use Industry (Automotive, Construction, Packaging, Electrical and Electronics, Food and Beverages, Others.) and Geography
Polyisobutenyl Succinic Anhydride (PIBSA) Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Technology (Heating Adduction Technology, Free Radical Technology); Application (Polyisobutylene Succinimide, Emulsifying Agents, Others) and Geography
2-Methylpropene Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Butyl Rubber, Polyisobutylene, MMA Monomer, Isooctane, MTBE, Plastics, Others); Application (Rubber Manufacturing, Pharmaceuticals, Fuel and Lubricants, Adhesives and Sealants, Antioxidants, Agrochemicals, Plastic, Explosives, Neopentaoic Acid, Methallyl Chloride, Others) and Geography
Industrial Rubber Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Type (Natural Rubber, Synthetic Rubber); Product (Mechanical Rubber Good, Rubber Hose, Rubber Belt, Rubber Roofing, Others); Application (Automotive, Building and Construction, Industrial Manufacturing, Polymer Modification, Wire and Cable, Electrical and Electronics, Bitumen Modification, Coating, Sealant and Adhesive, Medical and Healthcare, Others) and Geography
Synthetic Rubber Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Type (Styrene Butadiene Rubber, Ethylene Propylenediene Rubber, Polyisoprene, Polybutadiene Rubber, Other Types) ; Application (Tire and Tire Component, Non-tire Automobile Application, Footwear, Industrial Goods, Other Applications) and Geography
Flexible Cohesive Bandage Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Natural Rubber, Synthetic Rubber); End User (Hospitals & Clinics, Home Care, Emergency care, Others) and Geography
Fluoro Elastomer Market Forecast to 2028 – Covid-19 Impact and Global Analysis - by Type (Fluorosilicone, Perfluoroelastomers, Fluorocarbon, Others); Application (O rings, Gaskets, Hoses, Seals, Complex molding parts, Others); End use industry (Aerospace, Oil and gas, Energy, Power, Automotive, Pharmaceutical and food processing, Semiconductor, Chemical processing, Others) and Geography
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