The latest report by IMARC Group, titled “Polyisobutylene Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032,” offers a comprehensive analysis of the polyisobutylene market size. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
The global polyisobutylene market size reached US$ 2.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 3.4 Billion by 2032, exhibiting a growth rate (CAGR) of 3.7% during 2024-2032.
Polyisobutylene Market Trends:
The increasing demand for polyisobutylene in automotive applications, particularly in the production of tires and inner tubes, is driving the global market. Moreover, the rising usage of polyisobutylene in adhesives and sealants, due to its excellent impermeability and flexibility, further supports market expansion. Additionally, the growing preference for polyisobutylene in the manufacturing of lubricants and greases, due to its superior properties such as high viscosity index and thermal stability, is contributing to its market growth.
Furthermore, the increasing application of polyisobutylene in the food and beverage industry, as a packaging material, is another factor supporting the market. Besides, the rising demand for polyisobutylene in the pharmaceutical sector, particularly in the production of medical adhesives, is propelling the market forward. Additionally, the development of bio-based polyisobutylene and its increasing adoption in various industries is further expanding the market's scope.
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Polyisobutylene Market Scope and Growth Analysis:
The market scope is broadening due to the wide utilization of polyisobutylene in the construction industry, particularly in roofing and waterproofing materials. Moreover, the development of environmentally friendly, bio-based polyisobutylene variants is opening new avenues for market expansion, catering to the rising demand for sustainable materials. Furthermore, the market analysis highlights the growing significance of polyisobutylene in the healthcare sector, where its application in medical devices and drug delivery systems is expanding. Besides, the increasing adoption of polyisobutylene in the packaging industry, driven by its excellent barrier properties, is another factor contributing to the market's scope.
Additionally, the rise in research and development activities aimed at enhancing polyisobutylene's properties and expanding its applications is further broadening the market scope. The market's growth is also supported by the increasing demand in emerging markets, particularly in Asia-Pacific, where industrialization and urbanization are driving the demand for polyisobutylene in various sectors.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Lanxess
- BASF
- Daelim Industrial Co., Ltd.
- Reliance Industries Limited
- Lubrizol
Polyisobutylene Market Segmentation:
Our report has categorized the market based on region, product, end use industry and application.
Breakup by Product:
- Conventional PIB
- Highly Reactive PIB
Breakup by End Use Industry:
- Transportation Sector
- Industrial
- Food
- Others
Breakup by Application:
- Tires
- Lube Additives
- Fuel Additives
- 2-Stroke Engines
- Industrial Lubes & Others
- Adhesives & Sealants
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services.
IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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