Dublin, Nov. 24, 2022 (GLOBE NEWSWIRE) -- The "Global Polyisobutylene Market by Product (C-PIB, HR-PIB), Molecular Weight (Low, Medium, High), Application (Tires, Lube Additives, Fuel Additives), End-use Industry (Transportation, Industrial, Food), and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global polyisobutylene market is expected to grow from USD 2.9 billion in 2022 to USD 4 billion by 2027, at a CAGR of 6.8% from 2022 to 2027. The significant growth of the polyisobutylene market is attributed to the increasing demand from transportation and construction end-use industries across the globe. The risk of spilling of polyisobutylene is the major factor restraining the growth of the polyisobutylene market across the globe.
The transportation end-use industry of the polyisobutylene market is projected to grow at the highest CAGR during the forecast period
Transportation is the largest end-use industry of polyisobutylene in 2021, followed by industrial. This segment of polyisobutylene market is also projected to grow with the highest CAGR during the forecast period. The growth of the transportation end-use industry segment of the polyisobutylene market can be attributed to the increased demand for polyisobutylene from the transportation industry because it has properties such as low moisture absorption, electrical insulation, low gas permeability, and resistance to heat, which make it suitable for various applications of this industry. Moreover, polyisobutylene is preferably used in automobiles as it improves the viscosity index of gear oils and acts as a thickener in greases and smoke suppressants in 2-stroke oils. Polyisobutylene in the form of rubber is used for developing inner liners, treads, and sidewalls of tires as they have strong abrasion resistance (good tread wear) and low rolling resistance (good fuel economy).
The Asia-Pacific polyisobutylene market is estimated to grow at the highest CAGR between 2022 and 2027
Asia-Pacific is the largest and the fastest-growing market for polyisobutylene between 2022 and 2027 because of its increasing use in the transportation industry. The increasing demand for polyisobutylene from emerging economies such as China, India, Japan, and Malaysia, among others makes the Asia-Pacific region one of the lucrative markets for manufacturers of polyisobutylene.
Market Dynamics
Drivers
- Increasing Demand in Transportation Industry
- Growing Use in Construction Industry
Restraints
- Risk of PIB Spill
Opportunities
- Growing Demand from Emerging Economies
Challenges
- Developing Low-Cost Production Technologies
- Market Recovery from COVID-19
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 PIB Market, by Product Type
7 PIB Market, by Molecular Weight
8 PIB Market, by Application
9 PIB Market, by End-use Industry
10 PIB Market, by Region
11 Competitive Landscape
12 Company Profiles
13 Appendix
Companies Mentioned
- BASF
- Braskem
- Chevron Oronite
- Daelim
- Evonik
- INEOS
- Jinzhou Jinex
- JXTG Nippon
- Kemat
- Kothari Petrochemicals Ltd.
- Lubrizol
- Nizhnekamskneftekhim
- Reliance Industries Ltd.
- Shandong Hongrui New Material Technology Co. Ltd.
- SIBUR
- TPC
- YPF
- Zhejiang Shunda New Material
For more information about this report visit https://www.researchandmarkets.com/r/9d2rwt
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