According to the report by Expert Market Research (EMR), the global polyisobutylene market size is projected to grow at a CAGR of 5.03% between 2024 and 2032. Aided by the rising demand from the construction sector, the market is expected to grow significantly by 2032.
Polyisobutylene, a synthetic rubber also known as butyl rubber, is widely used in various industrial applications due to its unique properties such as thermal stability, flexibility, and impermeability to gases. It is predominantly employed in the manufacturing of tires, lubricants, adhesives, sealants, and medical equipment.
The automotive industry is influencing the polyisobutylene market outlook. Its application in tire manufacturing, due to its ability to maintain tire inflation pressure and reduce fuel consumption, is a significant factor in this market’s growth. Furthermore, the increasing demand for electric vehicles (EVs) and the need for high-performance tires compatible with EV specifications are expected to further boost the market for polyisobutylene.
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In the lubricant industry, polyisobutylene is used as a viscosity modifier. Its ability to enhance the performance of motor oils and provide better engine protection under extreme temperatures has increased its popularity in the automotive lubricants sector. The growing automotive market, coupled with stringent environmental regulations mandating the use of high-quality lubricants, is expected to boost the polyisobutylene market growth.
Additionally, the expanding construction industry contributes significantly to the demand for polyisobutylene. It is extensively used in adhesives and sealants for construction purposes, offering benefits such as durability, weather resistance, and strong adhesion. The ongoing global urbanisation and infrastructural development are likely to sustain the demand for polyisobutylene in this sector.
The pharmaceutical industry also utilises polyisobutylene in medical equipment and packaging, where its non-reactive nature is essential. The increasing health awareness and rising demand for medical devices and pharmaceuticals are expected to further drive the market growth.
Geographically, Asia-Pacific holds a significant portion of the polyisobutylene market share, attributed primarily to the rapidly growing automotive and construction industries in the region, especially in countries like China, India, and Japan. The region’s increasing industrialisation and urbanisation trends play a crucial role in this market’s expansion.
Polyisobutylene Market Segmentation
The market can be divided based on molecular weight, product type, end use, application, and region.
Market Breakup by Molecular Weight
- Low
- Medium
- High
Market Breakup by Product Type
- Conventional PIB
- Highly Reactive PIB
Market Breakup by End Use
- Automobile
- Industrial
- Food
- Others
Market Breakup by Application
- Tires
- Lube Additives
- Fuel Additives
- 2-Stroke Engines
- Industrial Lubes
- Adhesives and Sealants
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Polyisobutylene Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global polyisobutylene market. Some of the major players explored in the report by Expert Market Research are as follows:
- BASF SE
- Kothari Petrochemicals Limited
- Ineos Group Ltd
- Reliance Industries Limited.
- The Lubrizol Corporation
- Others
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