Global Polyisobutylene (PIB) Market Is Estimated To Evolve At A CAGR Of 5.6% By 2033

According to estimates, the market for polyisobutylene (PIB) would grow at a CAGR of 5.6% and reach a value of US$ 4 billion by 2033, up from US$ 2.3 billion in 2023. It is possible to create a clear synthetic hydrocarbon elastomer called polyisobutylene (PIB) or polyisobutene (C4H8) by polymerizing isobutylene. The production of a wide range of goods, including lubricants, tyres, adhesives, fuels, sealants, and others, need polyisobutylene as a critical raw material.

Due to its thermal stability, high flexibility, ozone resistance, oxidation resistance, and impermeability qualities, polyisobutylene is a versatile polymer with many applications. Its ability to withstand the elements enhances its demand in the production of mechanical products such as hosepipes, pharmaceutical stoppers, and construction sealants. The characteristics of polyisobutylene, such as electrical insulation, and is impermeable to water vapor and gases, making it an excellent choice for sealants in photovoltaic system panels.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:- https://www.factmr.com/connectus/sample?flag=S&rep_id=5160?PJ

𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬 𝐚𝐧𝐝 𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬 :

• 𝐆𝐫𝐨𝐰𝐢𝐧𝐠 𝐃𝐞𝐦𝐚𝐧𝐝 𝐢𝐧 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐢𝐧𝐠 𝐑𝐞𝐠𝐢𝐨𝐧𝐬: The increasing industrialization and automotive sectors in regions like Asia-Pacific were driving the demand for PIB-based products.

• 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐨𝐫𝐲 𝐚𝐧𝐝 𝐄𝐧𝐯𝐢𝐫𝐨𝐧𝐦𝐞𝐧𝐭𝐚𝐥
𝐂𝐨𝐧𝐬𝐢𝐝𝐞𝐫𝐚𝐭𝐢𝐨𝐧𝐬: Like many chemical products, PIB's production and usage are subject to regulatory scrutiny and environmental concerns. Industry players have been working on developing environmentally friendly formulations.

• 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐜𝐚𝐥 𝐀𝐝𝐯𝐚𝐧𝐜𝐞𝐦𝐞𝐧𝐭𝐬: Research and development efforts were focused on improving PIB's properties and finding new applications, which could potentially open up new market segments.

• 𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐏𝐫𝐢𝐜𝐢𝐧𝐠: The market was competitive, and pricing dynamics could be influenced by factors such as feedstock prices and production capacity.

𝐊𝐞𝐲 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐬 𝐨𝐟 𝐏𝐈𝐁 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

• 𝐁𝐲 𝐏𝐫𝐨𝐝𝐮𝐜𝐭 :

• Conventional
• Highly Reactive

• 𝐁𝐲 𝐌𝐨𝐥𝐞𝐜𝐮𝐥𝐚𝐫 𝐖𝐞𝐢𝐠𝐡𝐭:

• High
• Medium
• Low

• 𝐁𝐲 𝐄𝐧𝐝 𝐔𝐬𝐞:

• Automotive
• Industrial
• Food
• Other End Uses

𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :-

• BASF SE
• Kothari Petrochemicals
• Chevron Oronite Company LLC
• Zhejiang Shunda New Material Co., Ltd
• Daelim Industrial. Co. Ltd
• Shandong Hongrui New Material Technology Co., Ltd
• INEOS Group
• ENEOS Corporation
• TPC Group Inc
• Lubrizol Corporation

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐚𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐢𝐧𝐜𝐥𝐮𝐝𝐞𝐬

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
• EU - (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
• CIS & Russia
• Japan
• Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞

The worldwide market is highly consolidated with a few major players holding most of the share. Key players in the PIB market are investing heavily in research and development activities, especially to develop environmentally friendly products.

• In September 2021, Braskem and CHEMETRY invested USD 18 million to establish a plant in Alagoas, Brazil, to manufacture EDC and caustic soda to fulfil domestic demand.

• BASF India joined BASF Performance Polyimides India in August 2021 to establish a single company for the development of all of its products in India. This merger aided the company in strengthening its position and improving access to key markets and industries.

• BASF SE introduced its polyisobutylene product, OPPANOL C, in the North American market in February 2021. OPPANOL C is manufactured as one-inch chips in order to save product development time and manufacturing procedures for customers by enabling simpler and faster processing.

• Daelim Industrial, a South Korean firm, signed a deal with Lubrizol, a US-based company, in 2021 to deliver its PIB production technology. The technology can be used to produce a variety of PIB, ranging from highly reactive to conventional PIBs.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐟𝐨𝐫 𝐒𝐩𝐞𝐜𝐢𝐟𝐢𝐜 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=5160?PJ

US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E Mail : sales@factmr.com

About Fact.MR

Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range - from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories.

This release was published on openPR.