Home > Pressrelease > Polybutene-1 Market size will exceed $392.3 million by 2026
Polybutene-1 Market size will exceed $392.3 million by 2026
- Published Date: May 26, 2020
According to a new research report by Global Market Insights Inc., the Polybutene-1 Market size will reach USD 392.3 million by 2026. Growing application of hot melt adhesives in end use industries shall proliferate polybutene-1 demand in coming years.
Rising surface heating & cooling systems demand shall propel polybutene-1 growth
Polybutene-1 has always been used in surface heating & cooling systems due to its exceptional properties. The product offers extraordinary creep resistance thus making it ideal for high pressure heating & cooling systems. Surface heating & cooling systems have witnessed significant growth in Europe and are now witnessing rising penetration in Asia Pacific market.
Growing urbanization along with rising concerns related energy saving are primarily driving surface heating & cooling systems demand around the world. Polybutene-1 industry players involved in the market have developed special grade product resin for the application in surface heating & cooling system. For instance, LyondellBasell Industries has developed new grade of Polybutene-1 resin marketed under trademark ‘Akoafloor’ that can be employed in surface heating & cooling systems.
Polybutene-1 is a versatile material that been used in various end use industries. However, products growth trajectory in terms of demand expected to remain linear and steady. This can be attributed to steady product penetration in various applications such as plumbing, packaging, adhesives, polyolefin modification, etc.
Browse key industry insights spread across 105 pages with 90 market data tables & 12 figures & charts from the report, “Polybutene-1 Market By Product Grade (Extrusion Grade, Injection Molding Grade, Blow Molding Grade), By Application (Plumbing System, Packaging System, Hot Melt Hot Melt Adhesives), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
In plumbing application product has witnessed tremendous growth and likely to see increasing penetration in application during forecast period. However, in North America product is facing difficulties from regulatory environment. Building codes in the U.S. and Canada prevent consumers using PB-1 piping in the region. There are allegations that prolonged exposure to chlorine breaks bonds in the product. This can pose great threat to overall Polybutene-1 market in coming years.
Rising demand for hot water tank shall drive blow molding grade growth
Blow molding grade largely used in production of blow molded products such as water tanks. This Polybutene-1 market segment shall witness sluggish growth rate of 1% CAGR by volume during forecast timeframe. Good processability, great good chemical resistance, high toughness, light wight and low cost are some of the few attributes of the product that make it ideal for blow molding applications.
Growing construction industry shall drive piping systems demand
Polybutene-1 material is heavily consumed in production pipes, piping components, and other plumbing products. Over the last decades global plumbing sector has been revolutionized with the introduction of new materials and research & development in the Polybutene-1 market. Polymers such as polybutene-1, PVC, PE witnessed very strong growth in the plumbing application due to phasing out of traditional metal materials.
New construction methods and high rising building favors the strong and light wight products for plumbing products. Product has been used for 50 years in heating piping application and witnessed impressive growth in Europe. Plumbing systems application segment is largest and shall witness 2.4% CAGR growth in terms of revenue.
Strong potential for product in Asia Pacific piping business
Asia Pacific holds very strong potential for the product demand growth. Thermoplastics are replacing the traditional materials such as steel and copper employed in most of the plumbing and heating pipe applications. In Asia Pacific as whole significant portion of total piping business is still available for product to penetrate. Thus, Asia Pacific shall remain among the dominating polybutene-1 market in coming years with more than 40% market share by volume in 2026.
Capacity addition are a key strategies among industry players
In 2008, LyondellBasell expanded production capacity of Polybutene-1 in Netherland based plant. The plant had 45 Kt per annum prior to expansion and with capacity expansion plant has become largest production plant. Prominent players involved in the polybutene-1 market are LyondellBasell, Mitsui Chemicals, Ylem Technology , Shandong Hongye Chemical and Shandong Tengzhou Rida Chemical Co., Ltd.
Explore More on Related Topics: