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Polyisobutylene Market 2018 Global key players TPC Group, The Lubrizol Corporation, INEOS, Lanxess, BASF, ExxonMobil
Polyisobutylene Market
Asia pacific led global polyisobutylene industry in 2015 and is predicted to generate substantial revenue over the years ahead. The attributing factor toward industry growth is the presence of a large tire and tube manufacturing base in the region.
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Polyisobutylene 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.
Polyisobutylene Market, By Application
• Automotive
• Additives
• Others
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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.
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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%.
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
Read More Related News @ https://www.marketwatch.com/press-release/europe-geogrids-market-expects-310-million-square-meters-consumption-by-2024-2018-09-26
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