Polyisobutylene Market Size & Growth Analysis to 2030

The global polyisobutylene market size was accounted to hold a significant market revenue of over USD 2 billion in 2021 and expected to register a significant CAGR of around 5% during the forecast period 2022 to 2028. The increasing demand for the product in various applications such as automotive, adhesives & sealants, fuel additives, and lubricants is a major factor to drive the market growth. Furthermore, the increasing adoption of tubeless tires in the automotive industry due to their low maintenance and easy replacement is further anticipated to fuel the market over the forecast period. Moreover, the growing sea freight around the world due to its low transportation cost and higher load capacity is expected to increase the demand for lubricants which is expected to propel the market growth.

Market Drivers:

Growing demand from the automotive industry: The automotive industry is a major consumer of polyisobutylene. PIB is widely used in the manufacturing of tires and tubes due to its excellent air retention properties and resistance to ozone and aging. It helps improve tire performance, fuel efficiency, and overall safety. The increasing global demand for automobiles, especially passenger vehicles and commercial vehicles, drives the demand for polyisobutylene.

Increasing demand for lubricants and fuel additives: Polyisobutylene is used as a viscosity modifier and tackifier in lubricants and fuel additives. It enhances the viscosity index and improves the flow properties of lubricants, providing better lubrication and reducing wear and tear. PIB is also used as a detergent and dispersant in fuel additives to prevent deposits and maintain fuel cleanliness. The growing demand for high-performance lubricants and fuel additives in various industries, including automotive, industrial, and aerospace, drives the demand for polyisobutylene.

Expansion of the construction industry: The construction industry utilizes polyisobutylene-based sealants and adhesives for various applications, including waterproofing, insulation, and bonding. PIB-based sealants offer excellent adhesion, flexibility, and resistance to moisture and chemicals. With the increasing construction activities worldwide, particularly in residential and commercial sectors, the demand for polyisobutylene in construction applications is on the rise.

Growth of the packaging industry: Polyisobutylene is used as a cling agent in stretch films and as a sealing material in flexible packaging. PIB-based cling films provide excellent adhesion and cling properties, ensuring secure and tamper-evident packaging. The growing demand for flexible packaging solutions, driven by factors like convenience, extended shelf life, and sustainability, contributes to the demand for polyisobutylene.

Increasing demand for adhesives and sealants: Polyisobutylene is utilized in the production of pressure-sensitive adhesives and sealants. PIB-based adhesives offer high tack, good peel strength, and long-lasting adhesion. They find applications in industries such as tapes, labels, medical products, and construction. The expanding adhesive and sealant market, driven by various end-use sectors, supports the growth of the polyisobutylene market.

Favorable properties for personal care products: Polyisobutylene is used in personal care products, such as lipsticks, lip balms, and moisturizers, as a binding agent and film former. PIB provides excellent stability, texture, and adhesion in cosmetic formulations. The growing demand for personal care and cosmetic products, driven by factors like changing consumer preferences, beauty trends, and grooming habits, contributes to the demand for polyisobutylene.

Growing demand for butyl rubber: Polyisobutylene is a key raw material in the production of butyl rubber. Butyl rubber finds applications in various industries, including automotive, construction, healthcare, and consumer goods. The increasing demand for butyl rubber, particularly in tire manufacturing, contributes to the demand for polyisobutylene.

Technological advancements and product innovations: Ongoing research and development efforts have led to the development of improved grades and formulations of polyisobutylene. Manufacturers are continuously focusing on enhancing the performance, processability, and compatibility of PIB with other materials, expanding its application possibilities.

Market Snapshot:

Market Insights:

The global polyisobutylene market is bifurcated into the product, molecular weight, application, and geography. On the basis of molecular weight, the market is further segmented into high, medium, and low molecular weight. The high molecular weight PIB segment dominated the global market in 2021 and is expected to hold the largest revenue share of around two-third market share by the end of the analysis period. The properties associated with the product such as high viscosity, high elasticity, and flexibility are some of the prominent factors driving the segment growth. Furthermore, the widespread use of high molecular weight PIB in various applications such as lubricants, adhesives, and stretch films is expected to propel the segment growth over the forecast period.

On the basis of applications, the market is bifurcated into lubricant additives, adhesives & sealants, automotive rubber components, fuel additives, and others. The lubricant additives segment dominated the global polyisobutylene market in 2020 and is expected to hold the largest market share of over half of the market by the end of the analysis period. The growing industrial production in the Asia Pacific is expected to increase the demand for oil products which is expected to drive the segment growth. Furthermore, the growing mining and chemical industry is further anticipated to increase the demand for lubricants over the forecast period. Moreover, the increasing sale of commercial and passenger vehicles is expected to fuel the segment growth.

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The polyisobutylene comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2022 to 2028. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The polyisobutylene market research report presents the analysis of each segment from 2019 to 2028 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

• 2019-20 – Historical Year
• 2021 – Base Year
• 2022-2028 – Forecast Period

Market Segmentation:

By Product:

• Conventional
• Highly Reactive

By Molecular Weight:

• High Molecular Weight
• Medium Molecular Weight
• Low Molecular Weight

By Application:

• Lubricant Additives
• Adhesives & Sealants
• Automotive Rubber Components
• Fuel Additives
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Regional Analysis:

Geographically, the Asia Pacific dominated the global polybutylene market in 2021 and is expected to hold the largest revenue share of around one-third market share by the end of the analysis period. The growing demand for the product in various end-use industries such as automotive, aerospace, and construction is one of the prominent factor driving the market growth in the region. Furthermore, the emerging economical conditions, growing demand and increasing production of tubeless tires, and the increasing adoption of electric vehicles are further expected to fuel the market growth in the Asia Pacific.

Competitive Assessment:

Some of the leading market players operating in the global polyisobutylene market are BASF SE, Chevron Oronite Company LLC, Daelim Co., Ltd., TPC Group, and INEOS Group. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• BASF SE
• Chevron Oronite Company LLC
• Daelim Co., Ltd.
• TPC Group
• INEOS Group
• Kothari Petrochemicals
• Braskem
• ENEOS Corporation
• Zhejiang Shunda New Material Co., Ltd.
• Shandong Hongrui New Material Technology Co., Ltd.

Key Questions Answered by Polyisobutylene Market Report

• Global polyisobutylene market forecasts from 2022-2028
• Regional market forecasts from 2022-2028 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2022-2028 covering 15 major countries from the regions as mentioned above
• Polyisobutylene submarket forecasts from 2022-2028 covering the market by product, by molecular weight, by application, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis about the market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level polyisobutylene markets from 2022-2028
• Competitive Landscape and market positioning of top 10 players operating in the market