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Polyisobutylene Market future trends to 2024 key players BASF, ExxonMobil Corporation, Lanxess AG, TPC Group, The Lubrizol Corporation, Chevron Oronite Company LLC, Infineum International Ltd. and Berkshire Hathaway Inc.
Polyisobutylene (PIB) Market
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Polyisobutylene (PIB) Market size is poised to surpass USD 2 billion by 2024. Escalating product demand in the adhesives & sealants industry will be the prominent polyisobutylene market size contributor over the projected timeframe. It is chiefly used as a modifier or base polymer in the adhesives & sealants industry due to its superior characteristics such as stability, adhesion, moisture resistance and tackiness. These properties make the product ideal for hot melt pressure sensitive adhesive applications.
The global adhesives business generated revenue close to USD 25 billion in 2015 and is likely to exceed USD 35 billion by 2024. Robust growth in the adhesives & sealants business on account of its widespread applications spectrum in industries including packaging, construction and automotive for flooring, insulation, panel, partitions and roofing will positively impact on the polyisobutylene market share by 2024.
Positive growth indicators in the medical packaging business will drive the global polyisobutylene market size by 2024. Widespread product applications in serum vials, saline bottles and seals due to its low absorptivity and superior chemical resistance against moisture, air and gases will positively influence the PIB market size over the projected timeframe.
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Product disposal in water bodies destroys the aquatic flora and fauna. Therefore, the industry is stringently directed and regulated by government regulations, particularly in Europe and North America. Prevalence of these norms may hamper the polyisobutylene market size for its applications as a marine lubricant. The PIB industry participants are involved in extensive R&D towards developing sustainable disposable measures and thus will create new growth prospects by 2024.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. ExxonMobil Corporation
2. BASF SE
3. Lanxess AG
4. INEOS
5. TPC Group
6. Chevron Oronite Company LLC
7. The Lubrizol Corporation
8. Infineum International Ltd.
9. Berkshire Hathaway Inc.
10. Kothari Petrochemicals
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