Press release
APAC Is Set to Showcase Fastest Growth in Polyisobutylene Market
In the manufacturing sector, polyisobutylene is widely used in the production of tires, internal tubes, and rubber components. The need for PIB rises as the auto sector develops, driving the market ahead.
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In lubricants and fuel additives, PIB is used as a viscosity modifier and dispersant. The need for PIB in this market is fuelled by the developing automotive and manufacturing industries, as well as the rising demand for highly efficient lubricants and fuel-efficient additives.
Polyisobutylene is a desirable material in numerous adhesives and sealants due to its superior binding characteristics and chemical stability. The expanding demand for PIB-based adhesives and sealants is influenced by the expanding construction and packaging sectors.
Drug methods for administration like transdermal patches and sticky gels use polyisobutylene, particularly in the pharmaceutical industry. Due to its lubricating and thickening characteristics, it is also used in cosmetics, lotions, and creams for personal care.
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Due to their capacity to improve lubricant performance and satisfy regulatory criteria, lubricant additives dominate the industry. They increase lubricants' overall performance, allowing them to survive harsh circumstances and offer the best lubrication and protection. Also, via promoting cleaning the engines, lowering emissions, and improving engine performance, lubricant additives help with adhering to industrial and environmental laws.
In order to fulfil the growing demands of manufacturing machines and automobile engines, lubricant additives are now absolutely necessary due to the expanding industrialization and machinery utilization across numerous industries.
Modern additives with enhanced functionality have been introduced as a result of ongoing research and development activities in lubricant additive technology. To fulfill the changing requirements of contemporary machinery and lubrication systems, additives including friction modifiers, anti-wear agents, and antioxidants are continuously developing.
APAC is the fastest-growing polyisobutylene market. Approximately 70% of the APAC market's revenues came from China in 2022, and throughout the forecast period, its revenue contribution is anticipated to expand at a strong CAGR of around 6%.
This is so that the government's plans for infrastructure development can help the building, automotive, and cosmetics industries as well as economic growth. However, these are not long-term predictions, and moderate industrial growth is expected to continue, which will impact the nation's use of polyisobutylene in the ensuing years.
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