Augmenting Demand for Polybutene-1 to Bolster Global Market Revenue Growth over the Forecast Period 2021 to 2031

The penetration of IoT technology has already reached the chemicals industry, and certain industry leaders are deploying the same to achieve better connectivity between smart devices and equipment. IoT also enables chemical and material manufacturers to monitor real-time gaps in performance.

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Increasing government initiatives towards environment-friendly chemicals and materials have created a vast opportunity for polybutene-1 in several applications. Countries across the globe are concerned about rising environmental plastic pollution. Governments are promoting and encouraging recycling and products that pollute less as a substitute for existing materials or products.

“Surge in demand in food packaging and film modification in Asia is set to lend impetus to market growth,” says a Fact.MR analyst.

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Polybutene-1 (PB-1) offers 100% recyclability with better performance, and can be used in several applications such as piping systems, adhesives, etc. In developing economies, health and hygiene play a vital role. Therefore, governments allow and encourage PB-1 application in hot and cold water pipes, which provide freshwater with no impurities and packaging solutions in food packaging that provide flexible use and hygienic food, all of which have bolstered demand for polybutene-1.

As per a new report published by Fact.MR, the polybutene-1 market is forecast to be valued at around US$ 383 Mn in 2021, and is expected to expand at a CAGR of 7.5% from 2021-2031.

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Market Segmentation

Fact.MR has studied the polybutene-1 market with detailed segmentation on the basis of product type, process technique, application, and key regions.

By Product Type

Random PB-1

By Process Technique

Extrusion
Extrusion Blow Molding
Injection Molding

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By Application

Packaging
Cold Meat
Cheese
Smoked Salmon
Powder Milk
Rice
Coffee Pads
Others
Film Modification
BOPP
Cast PP
Polyolefin Modification
Piping Systems
Hot and Cold Water Supply Systems
District Heating Lines
Pressurized Plastic Tanks
Underfloor Heating
Others
Electric Domestic Heaters
Hot Melt Adhesives

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By Region

North America
Latin America
Europe
EastAsia
South Asia & Oceania
Middle East & Africa

Key Takeaways from Market Study

The market has witnessed a growth of nearly 2.2% from 2016 to 2020, and created an absolute $ opportunity worth US$ 32 Mn in the same timeframe.

The market in Europe is expected to expand at close to 8% CAGR over the forecast period, and be valued more US$ 258 Mn by 2031-end, which would amount to one-third of the global market share.
Germany’s market for polybutene-1 is expected to create an absolute $ opportunity of US$ 33 Mn from 2021 to 2031.

In terms of value, piping systems are expected to register a CAGR of close to 9% over the forecast period, to be valued at US$ 268 Mn by 2031-end.

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Winning Strategy

The market is highly consolidated in nature, and key manufacturers are constantly involved in developing new product lines to enter new application arenas. Moreover, their thirst for market dominance is high owing to a rapidly growing market with high potential across regions.

Prominent companies operating in the market include

LyondellBasell

Mitsui Chemicals

Ylem Technology

Shandong Tengzhou Ruida Chemical

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More Valuable Insights Available

Fact.MR, in its new offering, presents an unbiased analysis of the polybutene-1 market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031.

The study divulges essential insights on the basis of application (packaging (cold meat, cheese, smoked salmon, powder milk, rice, coffee pads, and others), film modification (BOPP and Cast PP), polyolefin modification, piping system (hot and cold water supply systems, district heating lines, pressurized plastic tanks, underfloor heating, and others), domestic heaters and hot melt adhesives), process technique (extrusion, extrusion blow molding, and injection molding), and product type ( Random PB-1), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).

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This release was published on openPR.