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Polyisobutylene Market Size Worth Over $2.77 billion by 2027

  • Published Date: August 6, 2021

According to a new research report by Global Market Insights Inc., the Polyisobutylene Market size is forecast to exceed USD 2.77 billion by 2027. The rising demand from construction industry will fuel the market growth over the next few years as it plays the vital role of a waterproofing and insulating agent in building construction.  

The application of polyisobutylene is increasing rapidly across the automotive industry with the growing demand for various types of vehicles across the globe. Additionally, the polyisobutylene is gaining popularity in the adhesives and sealants industry owing to its superior properties including low moisture permeability, high thickening efficiency, good electrical insulation, and colorless.

More than 70% of industrially manufactured polyisobutylene is utilized in the automotive industry. In the automotive industry, it is used in protective films applied on windshields of cars and in case of additives, it is blended with different lubricants such as engine oils, hydraulic fluids, etc., thus, growth in the automotive industry coupled with increasing demand for replacement tires and tubes is expected to drive the demand for polyisobutylene during the forecast period.

Polyisobutylene is a versatile polymer that has superior properties, making it highly suitable for food and medical products packaging. Due to its excellent low temperature flexibility and barrier properties; the demand for PIB is rapidly increasing in the food packaging industry. However, stringent regulations related to the usage of polyisobutylene are likely to hamper the industry growth during the forecast period. In contrast, increasing technological developments, R&D investments, and rising product utilization in tubeless tire manufacturing will create new growth opportunities for the global polyisobutylene market.

Browse key industry insights spread across 200 pages with 129 market data tables & 23 figures & charts from the report, “Polyisobutylene Market Size By Type (C-PIB, HR-PIB), By Application (Lube Additives, Fuel Additives, Adhesives & Sealants, Tires), Industry Analysis Report, Regional Outlook (U.S., Canada, France, Germany, UK, Italy, Spain, China, India, Japan, Indonesia, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Potential, Price Trends, Competitive Market Share & Forecast, 2021-2027” in detail along with the table of contents:

The HR-PIB segment will grow significantly during the assessment period

Global Polyisobutylene Market, By Type

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The HR-PIB segment accounted for over 17.4% of the market share in 2020 and is anticipated to grow at the highest CAGR during the forecast period. HR-PIB is an excellent high-viscous component for lubricant thickening. It is a type of polyisobutylene with over 85% of its double bonds located in the molecule's terminal position, allowing it to react more quickly when producing derivatives, mainly dispersants and detergents. The processing of HR-PIB produces less char during the manufacturing process, and the derivative products are employed to improve the final fuel and lubricant performance.

Rising application of polyisobutylene in tire manufacturing

In 2020, the tires segment accounted for 14.9% of the market share in the global polyisobutylene market and is projected to reach around 15.1% by 2027. This growth is attributed to the increasing sales of vehicles and the necessity for tires replacement. Tire is manufactured for a wide range of moving vehicles including aircraft, trucks, automobiles, tractors, bicycles, shopping carts, and motorcycles; thus, the increasing consumption of tires especially in China and the U.S. is likely to the boost the overall polyisobutylene market growth.

Furthermore, the rising demand for adhesives and sealants coupled with rapidly increasing need for polyisobutylene in pharmaceutical packaging is anticipated to augment the demand for PIB in the near future. The adhesives serve a wide range of markets including textiles, packaging & labeling, transportation, plumbing, building & construction, medical, and consumer products. Polyisobutylene is specifically used in pressure sensitive adhesives (PSA), particularly electrical tapes due to its very low glass transition temperature.

North America to exhibit steady growth during the forecast period

In 2020, North America held a significant market share of around 26% in terms of revenue and is expected to maintain its dominance during the forecast period driven by the increasing demand for lubricants. Additionally, the rising usage of polyisobutylene in adhesives and sealants will also boost the industry growth. Furthermore, the Asia Pacific polyisobutylene industry is anticipated to grow at the fastest pace in the upcoming years. The growing automotive sales in emerging economies, such as Japan, India, and China, coupled with the rising disposable income are expected to accelerate the polyisobutylene market share within the region.

Authors: Kiran Pulidindi, Sayan Mukherjee