Dublin, Oct. 21, 2020 (GLOBE NEWSWIRE) -- The "Polyisobutylene (PIB) Market - Growth, Trends and Forecast (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The market for Polyisobutylene (PIB), is expected to grow at a CAGR of about 5% during the forecast period. Major factor driving the market studied is increasing demand from adhesives and sealants industry. On the flipside, instability of polyisobutylene being non-UV resistant and unfavorable conditions arising due to the COVID-19 outbreak, are hindering the growth of the market.
- Polyisobutylene as substitute for wool fat in stuffing agents for the production of leather is expected to offer various opportunities for the growth of market.
- Adhesives & sealants and lubricant sectors are the dominant segments, in terms of demand, over the forecast period.
- Asia-Pacific region dominates the market across the globe with the largest consumption from countries such as China, Japan, South Korea and India.
Key Market Trends
Increasing Demand from Adhesives & Sealants Industry Segment
- Global adhesives & sealants industry is anticipated to grow at a CAGR of approximately 5% during the forecast period. Major applications of the polyisobutylene in adhesive & sealants industry are to seal joints, to seal and protect electrical wirings, and to protect body cavities from moisture. Polyisobutylene is used in adhesive systems in the form of pressure sensitive and hot melt adhesives, and are used due to their tackiness, flexibility, and low cohesive strength, mainly in PSAs and hot-melt adhesives.
- Growth in residential construction in the Asia-Pacific region is expected to act as a driver for pressure sensitive and hot melt adhesives. Polyisobutylene sealant is used for damp proofing, rubber roof repair and for maintenance of roof membranes.
- The residential construction growth rate estimations for 2020 for major economies such as India, China, and United States are 9%, 4% and 3%, respectively. This in turn will create demand for polyisobutylene from the adhesives & sealants industry in the consuming countries.
- The adhesives & sealants industry is expected to dominate the global polyisobutylene market over the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific is expected to be the dominant market for polyisobutylene, during the forecast period. This is because the region dominates the market for applications such as tire tubes, adhesive & sealants, lubricants, plasticizers, fuel additives, electrical insulation, etc.
- Polyisobutylene is widely used in lubricants for modifying/improving the viscosity of the lubricant formulations to the desired final viscosity. The lubricants market is currently witnessing an increasing demand for high-performance lubricants, owing to their better and improved properties, such as reduced flammability, reduced gear wear, and increased service life.
- Polyisobutylene is added to fuel in order to improve the viscoelastic property. Derivatives of polyisobutylene are used as ash-less dispersants (such as PIBSA) to minimize deposits and prevent oil thickening and formation of sludge. Implementation of stringent environmental regulations, and awareness among consumers in the region, will also boost the market. The Asia-Pacific fuel additives market is estimated to witness a significant growth, at an estimated CAGR of about 5%.
- Thus, rising demands from the above-mentioned polyisobutylene applications are expected to drive the growth of the market in the Asia-Pacific region.
Competitive Landscape
The global polyisobutylene (PIB) market is fragmented with the presence of both international and domestic players in the market. The major companies include BASF SE, Braskem, Dowpol Corporation, TPC Group and The Lubrizol Corporation, among others.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Market Dynamics
4.1 Drivers
4.1.1 Increasing Demand from Adhesives & Sealants
4.1.2 Other Drivers
4.2 Restraints
4.2.1 Instability of Polyisobutylene being Non-UV Resistant
4.2.2 Unfavorable Conditions Arising due to the COVID-19 Outbreak
4.3 Industry Value Chain Analysis
4.4 Porters Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 Market Segmentation
5.1 Application
5.1.1 Tire Tubes
5.1.2 Adhesive & Sealants
5.1.3 Lubricants
5.1.4 Plasticizers
5.1.5 Fuel Additives
5.1.6 Electrical Insulation
5.1.7 Others
5.2 Geography
6 Competitive Landscape
6.1 Merger & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 BASF SE
6.4.2 Braskem
6.4.3 Dowpol Corporation
6.4.4 Exxon Mobil Corporation
6.4.5 JXTG Nippon Oil & Energy Corporation
6.4.6 The Lubrizol Corporation
6.4.7 TPC Group
6.4.8 SABIC
6.4.9 Shandong Hongrui New Material Technology Co., Ltd.
6.4.10 Zhejiang Shunda New Material Co., Ltd.
7 Market Opportunities and Future Trends
7.1 Polyisobutylene as Substitute for Wool Fat in Stuffing Agents for the Production of Leather
For more information about this report visit https://www.researchandmarkets.com/r/fypjin