Polyisobutylene (PIB) Market 2024 Global Analysis of Key Players – BASF SE, Lanxess AG, ExxonMobil Corporation, The Lubrizol Corporation, TPC Group, Chevron Oronite Company LLC

The report is a comprehensive exploration of global Polyisobutylene (PIB) market offering growth rates, size of the industry, competitive landscape information, factors to the contributing growth of the global Polyisobutylene (PIB) market and more.

Polyisobutylene (PIB) Market size will likely surpass USD 2 billion by 2024; according to a new research report.

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 globally increasing demand for automotive tires has rapidly propelled polyisobutylene (PIB) market trends, given that PIB is extensively preferred in the manufacturing of tubeless tires and tubes that find application in the automotive industry.

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.

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Tire and tube manufacturing industries are the potential polyisobutylene market driver. The product is majorly used in the tubeless tire manufacturing owing to its water-resistant characteristics. In addition, the global tires and tubes industry is projected to expand with more than 5% CAGR by 2024, which will subsequently push the business growth over the estimated period. Furthermore, improving consumer spending pattern towards lavish lifestyles, has substantially propelled the automotive production and sales across the globe.

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.

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.

In 2015, high molecular weight led the global polyisobutylene market size, primarily due to its widespread applications in the sealants and automotive industry. Also, superior flexibility and dielectric characteristics along with light weight, makes the product suitable in manufacturing electric wire coatings. Medium molecular weight will observe gains around 5% CAGR by 2024.

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In 2015, automotive accounted for more than 50% of the global polyisobutylene market share. Increasing product usage in tires and tubes manufacturing owing to its high inflation pressure capacity, high damping and ozone resistance will positively impact business growth. Adhesives will experience maximum growth more than 4.5%.

North America polyisobutylene market size is projected to expand at over 4% CAGR by 2024. The regional growth is primarily driven by enormous automotive demand in the U.S. Furthermore, recovering U.S. construction industry post 2008 economic turmoil will push the business growth for sealants and adhesives applications.

Asia Pacific accounted for the major polyisobutylene market share in 2015. Presence of strong tire and tube manufacturing industries in India, China, Malaysia and Indonesia along with increasing automotive sales on account of improving consumer lifestyles was the prime factor promoting the regional growth.

In 2015, the overall polyisobutylene market share was highly consolidated with three major companies holding over 50% of the total supply. BASF SE, Lanxess AG, ExxonMobil Corporation, The Lubrizol Corporation, TPC Group, Chevron Oronite Company LLC, Berkshire Hathaway Inc., and Infineum International Ltd are some the prominent PIB market share contributors.

Outside of the scope airtight arrangement between the tire and the rim of the wheel, are a lot better than tubed tires since they are lighter and experience less friction and heat, making them more cost effective. Owing to its gas impermeable nature, PIB is used in making inner liner of tires to ensure that air is held inside and subsequently, to improve the safety. PIB also has a high resistance to acids and salts, allowing extended life for the tubeless tires, which are becoming the most favored tire-types for OEM and the aftermarket.

Evolving demographic trends have positively affected the automotive industry, as the rise in consumer spending and rapid industrialization has driven the demand for private and commercial vehicles in developed as well as emerging economies.  Auto makers have stepped up their production capacities, with Europe alone producing over 19.6 million cars in 2017 (about 23.3% of the global production), as per the Europe Automobile Manufacturers Association. Having major tire companies such as Continental and Michelin based out of Europe and other leading manufacturers like Goodyear and Bridgestone supplying quality tubeless tires across the world, has vastly propagated the polyisobutylene (PIB) market in the region. Increasing infrastructure development activities and the resulting growth of the transportation sector will further advance the use of PIB in manufacturing flexible, ozone resistant and efficient air pressure holding tires for enhanced durability and vibration control.

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Table of content:

Chapter 1.   Methodology and Scope

1.1.   Research methodology

1.1.1.    Initial data exploration

1.1.2.    Statistical model and forecast

1.1.3.    Industry insights and validation

1.1.4.    Research scope & assumptions

1.2.   Data sources

1.2.1.    Primary

1.2.2.    Secondary

Chapter 2.   Executive Summary

2.1.   Polyisobutylene industry 360 degree synopsis, 2013 - 2024

2.1.1.    Business trends

2.1.2.    Product trends

2.1.3.    Application trends

2.1.4.    Regional trends

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