The global polyisobutylene (PIB) market is
expected to reach USD 7.71 billion by 2024, according to a new report by Grand
View Research, Inc. Rising product use in pharmaceutical industry in emerging
markets such as China and India are expected to drive global polyisobutylene
market growth over the next eight years.
The rapid growth of the
automotive industry in emerging economies of Asia Pacific and Latin America
owing to growing demand for automobile and rising disposable income of
consumers is expected to drive growth over the forecast period. Growing
application scope of polyisobutylene in sealing & caulking compounds and
viscosity modifiers on account of superior binding & adhesive properties is
likely to augment market growth. In addition, rising use of polyisobutylene in
adhesives industry is expected to drive the market demand.
High molecular weight
polyisobutylene was the prominent product segment and accounted for a major
significant share of market volume. Wide application scope of high molecular
weight polyisobutylene in industries including automotive, petrochemicals, and
pharmaceuticals is expected to augment demand. However, rising concern
regarding disposal of polyisobutylene is expected to pose a challenge to the
market over the forecast period.
Browse full report by Grand View
Research : http://www.grandviewresearch.com/industry-analysis/polyisobutylene-pib-market
Further key findings from the report suggest:
·
The global polyisobutylene market demand
was 1.0million tons in 2015 and is expected to reach 1.8million tons by 2024,
growing at a CAGR of 6.1% from 2016 to 2024.
·
High molecular weight polyisobutylene is
expected to witness the fastest grow that a CAGR of 6.8% from 2016 to
2024.Factors such as low glass transition temperature and amorphous nature help
high molecular weight polyisobutylene attain improved flexibility, tackiness,
high temperature, and chemical resistance. These properties make high molecular
weight PIB most widely used polyisobutylene in industries including adhesives,
roofing, and wire manufacturing which in turn is expected to propel the market
growth over next few years.
·
Additive application of polyisobutylene is
expected to grow at a CAGR of 6.9% from 2016 to 2024. Growing demand for fuel
and lubricant additives in refining industries coupled with rising demand from
manufacturing industry owing to rapid industrialization in the emerging
economies of Asia Pacific and the Middle East& Africa is expected to drive
the demand over the forecast period.
·
Growing use of medium molecular weight
polyisobutylene in food & beverage industry for food packaging on account
of its adhesive nature, hydrophobic stability, anti-bacterial performance, high-temperature
resistance and low toxicity absorption is likely to fuel the market demand over
the forecast period.
·
Europe was the dominant market and
accounted for 44% in 2015. Rising demand for polyisobutylene from end-use
industries such as food & beverage and pharmaceutical coupled with the
presence of large refiners in the region with enhanced distillate processing
capabilities are expected to accelerate market growth. The region is also
expected to grow at a CAGR of 6.1% from 2016 to 2024.
·
Polyisobutylene industry is moderately
fragmented with the presence of a large number of prominent market participants
across the globe. BASF SE is a specialty chemicals manufacturers involved in
the manufacturing of intermediates, monomers, and catalysts. The company
manufactures polyisobutylene under Intermediates segment. In May 2015, BASF SE
acquired LANXESS’s high molecular weight polyisobutylene manufacturing
intellectual process.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand View Research has
segmented the polyisobutylene market on the basis ofproduct, application, and
region:
Global Polyisobutylene Product Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2013 - 2024)
·
High Molecular Weight
·
Medium Molecular Weight
·
Low Molecular Weight
Global Polyisobutylene Application Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2013 - 2024)
·
Automotive
·
Additive
·
Others
Global Polyisobutylene Regional Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2013 - 2024)
·
North America
o U.S
·
Europe
o Germany
o UK
·
Asia Pacific
o China
o India
·
Latin America
o Brazil
·
Middle East and Africa
View Press Release of this research
report by Grand View Research: http://www.grandviewresearch.com/press-release/global-polyisobutylene-pib-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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