Polyisobutylene Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Molecular Weight (Low, Medium, High); Product (Conventional PIB, Highly Reactive PIB); Application (Tires, Industrial Lubes and Lube Additives, Fuel Additives, Adhesives and Sealants, Others); End-Use Industry (Industrial, Food, Others) and Geography
The global Polyisobutylene (PIB) market was valued at US$ 2,580.78 million in 2018 and is projected to reach US$ 3,847.01 million by 2027; it is expected to grow at a CAGR of 4.5% during the forecast period 2019-2027.
The world-wide changes in construction industry associated with the use of material are changing faster than ever before. Urbanization is considered one of the international megatrends, shaking up the construction industry. The population of the global urban zones is rising by 200,000 people per day, all of whom need reasonably priced housing, transportation, as well as social and utility infrastructure. In such challenges, the construction industry is practically under a moral compulsion to transform. Its transformation is impacting elsewhere on the wider society, by reducing construction costs and by enlightening the use of scarce materials or by making buildings more eco-efficient and boosting economic development and by narrowing the global infrastructure gap. Utilization of polyisobutylene owes to demand for material with high melt flow rates, greater elongation, and enhanced impact strength. Increasing infrastructure demand in the evolving economies of the Middle East & Africa and Asia Pacific on account of developing road infrastructure, increase in per capita ownership of houses and rising spending capacity are expected to affect the construction sector in the region, which in turn will drive the demand for polyisobutylene.
Based on product, the polyisobutylene (PIB) market is categorized into conventional PIB and highly reactive PIB. As different types of polyisobutylene are widely used by the various end-use industries, it is gaining popularity across the world. Conventional molecular weights polyisobutylene (PIB) is basically a liquid polymer, comes in water white color, chemically stable, available with a wide range of viscosities, offers great dielectric properties, and resistant to oxidation through light and fluctuating temperatures. Highly reactive polyisobutylene is an important intermediate used for the manufacture of high-performance fuel & lubricant additives, including fuel detergents or dispersants for engine oils, additives for sludge prevention.
Geographically, the polyisobutylene (PIB) market is segmented into North America, Europe, Asia Pacific (APAC), South America (SAM), and Middle East and Africa (MEA). North America possesses the largest share in the global polyisobutylene (PIB) market. It comprises the developed and developing countries such as the US, Canada, and Mexico. The demand for polyisobutylene (PIB) has increased in the last few years, owing to rising demand from the tire and rubber industry. Substantial research is conducted in the development of polyisobutylene field and this has given an impetus to polyisobutylene (PIB). Factors such as rapid development of end-use industries such as food, personal care and cosmetics, lubricants, adhesives and sealants in the US, Canada, and Mexico are boosting the demand for polyisobutylene (PIB) in the North American region. Furthermore, supporting government scenarios in North American counties is projected to drive the demand for polyisobutylene (PIB).
COVID-19 from the outset started in Wuhan (China) in December 2019 and has spread across the globe at an energetic pace. China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US are among the most affected nations as per the degree affirmed cases and pronounced passing’s as of April 2020.According to WHO, there are ~8,137,110 affirmed cases and 439,577deaths worldwide. COVID-19 has affected economies and undertakings due to lockdowns, travel bans, and business shutdowns. The global polyisobutylene (PIB)industry is one of the major business enduring genuine agitating impacts, for example, creation composes breaks, breaks in storing up because of lockdown and office shutdowns because of this outbreak. These segments have unimaginably affected the worldwide polyisobutylene (PIB) market.
BASF SE, Braskem SA, Daelim Industrial Petrochemical Division, Ineos AG, Infineum International Limited, Kemat Polybutenes, Kothari Petrochemicals, Sibur Holding PJSC, The Lubrizol Corporation, TPC Group are among the key market players present in the global polyisobutylene (PIB) market.
Overall size of the global polyisobutylene (PIB) market has been derived using primary and secondary sources. The research process begins with extensive secondary research using internal and external sources to obtain qualitative and quantitative information related to the global polyisobutylene (PIB) market. Additionally, multiple primary interviews were conducted with industry participants and commentators to validate and analyze the data. The participants who take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specialized in the polyisobutylene (PIB).
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Features key findings and crucial progressive industry trends in the global polyisobutylene market, thereby allowing players to develop effective long-term strategies.
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Scrutinizes in-depth market trends as well as key market drivers and restraints.
Enhances the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.
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