Polyisobutylene (PIB) Market Size By Molecular Weight (High, Medium, Low), By Application (Automotive, Additives), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024

Published Date: Jan 2017  |  Report ID: GMI1137  |  Authors: Kiran Pulidindi, Hemant Pandey

Report Format: PDF   |   Pages: 128   |   Base Year: 2015

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Polyisobutylene (PIB) Market size was valued at over USD 1.25 billion in 2015 and will witness gains close to 5% CAGR by 2024. Increasing tubeless tire demand due focused on durability along with low maintenance cost will significantly boost the PIB business growth over the projected timeframe.

The global polyisobutylene market share was primarily driven by strong product demand in tires and tubes manufacturing. Rubbers including the PIB, styrene–butadiene rubber (SBR) and nitrile rubber (NBR) are widely preferred in manufacturing tires (mainly tubeless tires) and tubes owing to its impermeable nature.

Polyisobutylene Market Statistics

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Strong automotive demand in North America and Europe paired with inclining automotive demand in BRIC nations with consumer demographics will complement the PIB industry. The overall automobile production, including both commercial and personal vehicles, was close to 75 million units in 2010 and reached approximately 90 million units in 2015. Furthermore, the overall tires & tubes business was close to USD 3 billion in 2015 and is likely to surpass USD 4.5 billion over the projected timeframe.

The global medical packaging business was valued roughly around USD 20 billion in 2015 and will exceed USD 30 billion over the estimated period. The product is widely preferred in the medical packaging sector owing to high chemical resistance and low permeability to air, moisture and gases. It is also used medical packaging applications such as saline bottles, serum vials, injectables, and seals. Additionally, high cleanliness along with the product advantages over natural and other synthetic rubbers in pharmaceutical packaging such chemical and biological inertness, excellent self-sealing and good fragmentation performance will boost the polyisobutylene market by 2024.

Use in ship engines as a lubricant contaminates water and affects the aquatic life by causing deaths and genetic alteration. For instance, in 2013, more than 2,500 seabirds died due to the product stickiness. Increasing awareness towards protecting the environment along with stringent government legislations may hamper the PIB market. Increasing R&D investments, technological advancements and rising product usage in tubeless tire manufacturing will substantially create growth opportunities for the polyisobutylene market contributors.

Polyisobutylene (PIB) Market Report Coverage
Report Coverage Details
Base Year:2015
Market Size in 2015:1.25 Billion (USD)
Forecast Period:2016 to 2024
Forecast Period 2016 to 2024 CAGR:5%
2024 Value Projection:2 Billion (USD)
Historical Data for:2013 to 2015
No. of Pages:128
Tables, Charts & Figures:153
Segments covered:Molecular Weight, Application and Region
Growth Drivers:
  • Strong demand for tire and tube manufacturing
  • Positive growth outlook in adhesives & sealants industry
  • Increasing product demand in medical packaging
Pitfalls & Challenges:
  • Stringent environmental legislations

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Market, By Molecular Weight

High molecular weight led the overall industry in 2015. The product is broadly preferred in the automotive and sealants sector owing to its value-added heat resistance and oxidation characteristics. Furthermore, increasing product usage in electric wire coatings manufacturing due to its light weight, dielectric properties and enhanced flexibility will stimulate polyisobutylene market growth. Medium molecular weight PIB market share is forecast to experience growth rate close to 5% due to its widespread applications across adhesives industry.

Market, By Application

Automotive application segment accounted for more than half of the global volume in 2015. Tire and tubes are the basis components used in the automotive industry. The product is used for inner liner in the tire, which holds the air. It offers superior inflation pressure holding, ozone resistance, high damping, barrier properties and heat aging, which makes it suitable for automotive vibration control for all the tire types. Positive growth indicator in the automotive industry, particularly due to improving consumer lifestyle dynamics will positively influence the polyisobutylene market revenue by 2024.

Polyisobutylene Market by Application

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Adhesive applications will observe highest gains more than 4.5% CAGR over the projected period. The product derivatives are used widely as additives in lubricating oils & fuels to reduce the oil mist generation. It is also used to clean water-borne oil spills and lubricants thickening agent. Increasing lubricant demand for automotive maintenance will positively influence the overall polyisobutylene market segment in the coming years.

Market, By Region

North America, mainly led by the U.S. will witness growth close to 4% over the forecast timeframe. Increasing durable tires demand from consumer to hold strong grip in snow will boost the regional growth. Massive automobile customer base in the U.S will push the polyisobutylene market for additives. In addition, upcoming U.S. construction industry will boost the product demand for adhesives and sealant applications.

Asia Pacific led the global polyisobutylene market in 2015. Prevalence of strong tire and tube manufacturing industries in China, India, Indonesia and Malaysia was the major factor contributing the regional business growth. Increasing automotive sales in India and China, mainly due to increasing consumer per capita disposable income along with reduced interest rates on car loans will complement PIB market size.

Competitive Market Share

The global polyisobutylene market share was highly consolidated in 2015 with top three manufactures accounting for more than half of the global share. Key industry players have their presence across multiple stages of the industry ecosystem, which helps them to acquire a massive chunk of the business share. Some of the product manufacturer includes BASF SE, ExxonMobil Corporation, Lanxess AG, TPC Group, The Lubrizol Corporation, Chevron Oronite Company LLC, Infineum International Ltd. and Berkshire Hathaway Inc.

Industry Background

Polyisobutylene (PIB) is a commercial polymer used in widespread applications in numerous industries due to its superior flexibility thermal stability and impermeability to gases. It offers high resistance to acids, alkalis and salts. The products major application includes manufacturing of inner tubes of tires and adhesives & sealants. Its derivatives are used as additives (thickening agent) in lubricating oils and motor fuels to minimize oil mist generation.

Robust growth in end-user industries including construction and automotive will substantially boost the polyisobutylene market demand by 2024. Asia Pacific accounted for more than half of the global volume and revenue, particularly due to increasing end-user industries in China and India.

Polyisobutylene market report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2013 to 2024, for the following segments:

PIB Market, By Application

  • Automotive
  • Additives
  • Others

The above information is provided on a regional and country basis for the following:

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • Indonesia
    • Malaysia
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • South Africa
    • GCC

Frequently Asked Questions (FAQ) :

The polyisobutylene market is expected to witness a remuneration of 2 Billion (USD) in 2024.
The polyisobutylene market is poised to observe a crcr of 5% over 2015-2024.
These products will gain traction across North America, led by the U.S., owing to rising demand for durable tires essential in cold climates. North America industry will record 4% CAGR through 2024.
Adhesive applications will reign supreme owing to the fact that PIB derivatives are heavily deployed as additives in lubricating fuels and oils for reducing oil mist formation. Adhesive application segment may record 5.5% CAGR through 2024.
Medium molecular weight PIB industry may register 5% CAGR through 2024 driven by extensive product applications in the adhesives domain.
Increasing demand for tires will push automotive application segment which held over 50% of the global volume in 2015, owing to the fact that PIB offers excellent ozone resistance, barrier properties, and superior inflation pressure holding.
Major polyisobutylene product manufacturers are Berkshire Hathaway Inc., The Lubrizol Corporation, ExxonMobil Corporation, Infineum International Ltd., Chevron Oronite Company LLC, BASF SE, Lanxess AG, and TPC Group.

Premium Report Details

  • Published Date: Jan 2017
  • Pages: 128
  • Tables: 138
  • Charts / Figures: 15
  • Companies covered: 10
  • Countries covered: 17

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