Selbyville, Delaware, May 27, 2020 (GLOBE NEWSWIRE) -- Based on the research published by Global Market Insights, Inc., the global polybutene-1 market size was valued at $375.6 million in 2019 and is projected to surpass $392.3 million by 2026, registering a CAGR of 2.4% from 2020 to 2026. The report delivers a detailed insight into the major investment pockets, competitive scenario, market size & estimations, drivers & opportunities, wavering market trends, and top winning strategies.
The rapid rise of urbanization in the APAC region is likely to add impetus to polybutene-1 market expansion over the projected timeline. Polybutene-1 is a polyolefin polymer, derived from the polymerization of a 1-butene monomer using a ziegler natta type catalyst. It is utilized extensively across myriad end-use applications including polyolefin modification, packaging, construction, and piping, among others. Furthermore, the product’s 4-decade long implementation in plumbing and piping applications across Europe and the Asia Pacific will contribute significantly to industry development in the years ahead.
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Polybutene-1 products possess several key benefits including lightweight, high resilience, and strength. These properties, alongside low stiffness and creep resistance make the products ideal for use in various applications including surface heating & cooling systems, hot & cold-water pipes and hot melt adhesives, among others, thereby stimulating global polybutene-1 market share over the forecast spell.
Key reasons for polybutene-1 market growth:
- Robust demand for piping from APAC and the Middle East
- The strong presence of polybutene-1 piping producers across Europe
- Escalating prominence of polymer plumbing systems in high-rise building constructions
- Burgeoning demand for polybutene-1 from the packaging sector
2026 forecasts show the hot melt adhesives segment gaining prominence:
Based on the application, the industry is categorized into a packaging system, hot melt adhesives, plumbing systems, film modification, and others. Among these, the hot melt adhesives segment is expected to hold more than 10% of the overall polybutene-1 market consumption over 2026. This is attributed largely to the robust application scope of the product in the modification of polyolefins such as PE (polyethylene) and PP (polypropylene), in order to augment their characteristics, including flexibility, elasticity, and softness.
North America to witness significant gains:
In terms of geography, North America holds a major chunk of the polybutene-1 market share and is set to register commendable growth by volume at nearly 1.8% CAGR through 2026. Industry expansion in the region is driven mainly by the burgeoning packaging industry. Furthermore, easy lifestyles and hectic schedules have opened up several lucrative growth prospects for the market, especially for easy-peel packaging. Proliferating demand for packaged products and ready-made foods is also likely to stimulate product market penetration in the region.
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Leading market players:
The major market players analyzed in the global polybutene-1 industry report include Shandong Hongye Chemical, Mitsui Chemicals, Lyndollbessel, Shandong Tengzhou Rida Chemical Co., Ltd., and Ylem Technology. They have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting, and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
GMIPulse, our business analytics platform offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top-level categories and hundreds of industry segments within them, covering regional, company level and cross-sectional statistics that make our offering a stand-out for decision-makers.