Polyisobutylene Market Growth, Share and Forecast by 2028

Polyisobutylene Industry Overview

The global polyisobutylene market size was valued at USD 1.87 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.0% from 2021 to 2028.

The growth of the market can be attributed to the use of polyisobutylene in various applications like adhesives and sealants, rubber automotive components, fuel additives, and lubricant additives. The tubeless tires have gained popularity in the automotive industry due to easy replacement and less maintenance. Polyisobutylene acts as a barrier to oxygen, making it a suitable material for the inner liner in tubeless tires. Polyisobutylene (PIB) exhibits low moisture and gas permeability and excellent insulation for electric current.

The COVID-19 drove a shift to remote working and increased voice traffic, residential broadband, and mobile data. The telecom industry responded favorably due to optical fibers usage to provide internet connections to ensure a positive user experience. The growth of the telecommunication industry is expected to drive the demand for polyisobutylene as a cable insulation material in electrical and electronics applications.

Gather more insights about the market drivers, restrains and growth of the Global Polyisobutylene Market

Asia Pacific accounted for a significant revenue share in the market in 2020. This is driven by the high demand from key industries, including automotive, construction, cosmetics, and aerospace, in emerging economies such as China and India. The COVID-19 pandemic impacted the manufacturing industries across the globe, which negatively impacted the growth of polyisobutylene in some end-use sectors, like cosmetics, due to supply chain disruptions.

Sea freight has emerged as a significant mode of transport due to high load carrying capacity, lesser costs, and safe and secured transportation. Growing initiatives on enhancing port infrastructures, rising bilateral trade agreements between countries, technological advancements in the development of low emission container ships to reduce environmental impact on water bodies, and the increase in global supply chains are expected to drive the lubricant market for ships engines. Due to the factors mentioned above, the growing container shipping business is anticipated to fuel the growth of the lubricant additives application segment in the market.

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• Polypropylene Compounds Market: The global polypropylene compounds market size was valued at USD 17.59 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 7.6% from 2021 to 2028. The growth of the automotive and electronics industries across emerging nations is expected to be the key growth factor for the global market over the forecast period.

• Polyamide Market: The global polyamide market size was valued at USD 33.30 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.2% from 2021 to 2028. The growing demand for polyamide as a replacement for metals to reduce weight is propelling the product demand in the automotive, electrical and electronics, consumer goods and appliances, and other industries.

Polyisobutylene Market Segmentation

Grand View Research has segmented the global polyisobutylene market on the basis of product, application, and region:

Polyisobutylene Product Outlook (Volume, Tons; Revenue, USD Million, 2017 – 2028)

• High Molecular Weight

• Medium Molecular Weight

• Low Molecular Weight

Polyisobutylene Application Outlook (Volume, Tons; Revenue, USD Million, 2017 – 2028)

• Adhesives & Sealants

• Automotive Rubber Components

• Fuel Additives

• Lubricant Additives

• Others

Polyisobutylene Regional Outlook (Volume, Tons; Revenue, USD Million, 2017 – 2028)

• North America

• Europe

• Asia Pacific

• Central & South America

• Middle East & Africa

Market Share Insights

February 2021: BASF SE launched its polyisobutylene product under the brand name OPPANOL C in the North American market. OPPANOL C is produced as one-inch chips to reduce product development time and minimize manufacturing steps for customers by facilitating simpler and faster processing.

Key Companies profiled:

Some prominent players in the global polyisobutylene market include

• BASF SE

• Daelim Co., Ltd.

• TPC Group

• INEOS

• Kothari Petrochemicals

• Braskem

• ENEOS Corporation

• Zhejiang Shunda New Material Co., Ltd.

• Shandong Hongrui New Material Technology Co., Ltd.

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