Dublin, March 02, 2023 (GLOBE NEWSWIRE) -- The "Global Polyisobutylene Market Share Analysis by Molecular Weight, Product, Application, End-use - Industry Demand Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The total size of the polyisobutylene market was USD 1,995.3 million in 2022, and it will propel at a rate of 5.1% in the years to come, to reach USD 2,980.6 million by 2030, according to the report.
Lubricant Additive Producers Account for Highest PIB Consumption
The application segment of the market is dominated by the lubricant additives division, which contributed about USD 1.2 billion to the market players in 2022. PIB is consumed during the production of tackifiers, to offer lubricants stringiness, anti-mist qualities, tack, and adherence.
Moreover, temperature resistance, shear stability, lubricity, and deposit formation are all improved by PIB, thereby increasing the life of the oil and the engine.
Additionally, lubricant additives made from polyisobutylene are used to make oil more or less viscous, which is important for refining the functionality of the oil used in automotive and industrial applications.
Increasing Requirement for Tubeless Tires in Automotive Sector
As they can retain air for longer durations, tubeless tires have become widely popular over the traditional tires with tubes. Tires without tubes do not puncture and deflate easily and let automobiles move even if the pressure inside them is lower than standard.
As these tires are made from PIB, for air permeability, the need for a lower rate of air pressure decreases drives PIB consumption among automotive tire manufacturers as well as vehicle owners.
China Offers Best Investment Prospects to PIB Suppliers in APAC
China dominated the APAC industry in the past with an about 70% share, and it will grow at a considerable rate, of around 6%, in the years to come. The initiatives of the government for infrastructure development will support economic expansion and the automotive, cosmetics, and construction sectors.
Hence, the demand for this chemical for the manufacturing of hosepipes, window stripes, and gaskets will continue to rise, as PIB offers these automotive components thermal stability, higher flexibility, oxidation resistance, and enhanced permeability.
Though these are not lasting prospects, the industrial sector will continue to witness significant expansion, thus positively influencing the consumption of polyisobutylene in China.
Sales of Polyisobutylene with High Molecular Weight Were Highest
- The high molecular weight category dominates the industry with about 65% of the revenue, and its sale will grow by more than 5%.
- High-molecular-weight PIB acts as a strong barrier against water vapor and provides adhesion to varied surfaces, electrical resistance, and, low-temperature flexibility.
- This variant is employed in a diversity of products, including lubricants, fuel, and additives; sealants for cloistering roofing membranes and glass, chewing gum adhesives, and stretch films.
Companies Mentioned
- BASF SE
- TPC Group
- Lubrizol Corporation
- DAELIM Industrial Co. Ltd.
- Braskem S.A.
- ENEOS Holdings Inc.
- Zhejiang Shunda New Material Co. Ltd.
- Shandong Hongrui New Material Technology Co. Ltd.
- Kothari Petrochemicals Limited
| Report Attribute | Details |
| No. of Pages | 170 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $1995.3 Million |
| Forecasted Market Value (USD) by 2030 | $2980.6 Million |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Research Scope
1.1. Research Objectives
1.2. Market Definition
1.3. Analysis Period
1.4. Market Size Breakdown by Segments
1.5. Market Data Reporting Unit
1.6. Key Stakeholders
Chapter 2. Research Methodology
2.1. Secondary Research
2.2. Primary Research
2.3. Market Size Estimation
2.4. Data Triangulation
2.5. Currency Conversion Rates
2.6. Assumptions for the Study
2.7. Notes and Caveats
Chapter 3. Executive Summary
Chapter 4. Voice of Industry Experts/KOLs
Chapter 5. Market Indicators
Chapter 6. Industry Outlook
6.1. Market Dynamics
6.1.1. Trends
6.1.2. Drivers
6.1.3. Restraints/challenges
6.1.4. Impact analysis of drivers/restraints
6.2. Impact of COVID-19
6.3. Porter's Five Forces Analysis
Chapter 7. Global Market
7.1. Overview
7.2. Market Revenue, by Molecular Weight (2017-2030)
7.3. Market Volume, by Product (2017-2030)
7.4. Market Revenue, by Product (2017-2030)
7.5. Market Revenue, by Application (2017-2030)
7.6. Market Revenue, by End-use (2017-2030)
7.7. Market Volume, by Region (2017-2030)
7.8. Market Revenue, by Region (2017-2030)
For more information about this report visit https://www.researchandmarkets.com/r/2i83eb
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