ID: MRFR/CnM/4455-HCR | February 2021 | Region: Global | 100 pages
Polyisobutylene (PIB) Market overview
Polyisobutylene Market size is estimated as 5.40% for the forecast 2021-2030.
Butyl rubber is a popular type of Polyisobutylene. It is a synthetic rubber material that has unique properties. It is developed from the monomer isobutylene elements. Also, Polyisobutylene includes cationic vinyl polymerization. There is a wide range of features of the product making it suitable for industrial applications. Thermal stability, dielectric features, chemical resistance, flexibility, non-toxicity, low gas are a few benefits of Polyisobutylene.
This rubber is durable enough for many crucial products. The products such as Tires tubes, adhesives, sealants and lubricants use synthetic rubber material. It is a class of organic polymer that is categorised as a gummy solid. The low molecular weight of this product makes it suitable for tire industries. There is a mixture of solids and oligomers in this synthetic Polyisobutylene. It is an elastomers rubber that has both flexibilities and at the same time proper sturdiness. The polyisobutylene industry demand is surging due to its demand from various end-users.
Polyisobutylene is a flexible polymer and its features attract many end-users. It is an ideal material for packaging food and medicinal products. It is an organic alternative to plastics. In the medical plaster sector, Polyisobutylene has high usage. It is developed into a leading material for medicinal plasters due to its unique qualities.
Net structure long chain and macromolecule features expand market demand. Also, extra tugging and durability make it a strong material for these applications. Polyisobutylene is combined with various types of resins and paraffin waxes. The usage of this product in chewing gum can lead to more flexibility. All these trends will contribute to immune polyisobutylene market value.
Covid 19 pandemic is leading to changes in the market dynamics across the globe. Many leading countries witness lockdowns and restrictions in this pandemic. Supply chain issues are crucial challenges in this period. Lack of labour and decrease in manufacture are some of the other issues. End-user industries such as automotive, consumer goods, food and beverage have many losses. The demand for polyisobutylene market is affected due to these factors. From 2020 there is a decrease in market trends due to the covid 19 pandemic. Other factors affect the demand of this market. The automotive industry has massive losses in the first three quarters of 2020. The declining demand from end-users affects the polyisobutylene market growth.
Rising demand from the tires and tubes market is a crucial market driver. Tire and tubes are crucial demand drivers of the market. The tires are made with strong rubbers. Polyisobutylene is a rubber that can be modified according to every need. Due to its flexibility and wide range of features adoption rate is higher. The automotive industries have increased usage of Polyisobutylene synthetic rubbers.
The high tensile strength and flexibility of the rubber make it suitable for this process. The demand from various users is a demand driving factor. The rising Consumer demand for consumer electronic devices such as smart TVs, wireless speakers, and home appliances is driving demand. The electrical industry is another crucial driver of this market. Investments from cause electronics play a major role in this market.
The Polyisobutylene Market is being driven by the growing construction industry. The rising living standards and rising per capita income of consumers create this demand. These crucial drivers will create high revenue for Polyisobutylene. These factors will create more expansion and a rise in supply rates for the market.
The Research and development investments will play a crucial role in the development of this market. Polyisobutylene is a product that has high research. With this product, there earn much more effective applications. The automotive and electronics market are raising their investments in Polyisobutylene. Due to R & D, the product launches and innovations are higher. These product launches will attract new end users to the market.
The expansion of Polyisobutylene in emerging economies is massive. Especially, countries such as China, India and Japan will have higher penetrations of Polyisobutylene. The new products will create fresh demand for the market. Growing demand for the product in the health care market is another development. The healthcare sector is growing its demand for PIB because of its non-toxic and non-skin resistive qualities. These qualities of the material can make it suitable for more health equipment. The expanding demand from the health sector will lead to high polyisobutylene market growth.
There are different alternatives for Polyisobutylene. The growing number of substitutes for the product is a restraining factor of the market. Polyisobutylene is a type of polymer that has many alternatives.
There are more durable and strong synthetic rubbers that take over the demand. Polyisobutylene is priced high above its alternatives. Due to this, the adoption of other alternatives is surging. This decreases the awareness about the product in industries with higher investments. The availability of other alternatives can affect the demand of this market in the forecast period.
Stringent rules to manufacture Polyisobutylene is a challenge of this market. There are stringent rules in many regions to carry out the production. Polyisobutylene is a polymer a close alternative to plastic. It is more eco friendly than other plastics. However, they are harmful to the environment. It has less degradable capacities that can affect the soil. Due to these reasons the adoption and supply of the market can decline.
Further, the effects of covid 19 will continue for the market. The Polyisobutylene market has severe effects of covid 19. The surge in raw material prices and other challenges will continue. Fewer finds among end-users will reduce the investments in the market. Also, high costs due to raw material fluctuations can affect revenue. New waves of covid 19, is expected to bring new challenges in this market.
The polyisobutylene market trends is steady in the forecast period. There are plenty of factors that support grows of this market. Demand from the automotive industry will create an exceptional impact on growth. The automotive sector is a heavy investor in the polyisobutylene market.
The demand for these synthetic rubbers is expected to surge in upcoming years. Also, crucial drivers such as the exceptional features of the product will attract demand from various end-users. However, there are several restrictions that can impact this market. Demand for alternatives will affect this market. Also, stringent rules will create challenges.
The Asia Pacific is the leading region with Polyisobutylene Market Share. The Asia Pacific is the world largest Polyisobutylene manufacturer. It is anticipated to continue to grow at an exponential pace in the forecast period. Furthermore, the market driving factors such as demand from the increasing automobile sector will contribute to revenue. Emerging markets like India, China, and Thailand have high investments.
Also, rising consumer disposable income will create a positive effect. Indian Brand Equity Foundation says that sales of passenger vehicles will grow by growing at 11% in the next few years. This will create a positive impact on this market. Also, increased investment in infrastructure will increase the adoption of the product. The PIB consumption is expanding in the construction industry. Governmental initiatives for smart cities will create high market growth opportunities.
Polyisobutylene Market, by Molecular Weight
By End-use Industry
There are expansion, mergers, partnerships and expansion in the market is rising. A new high-density product range will be developed in this market.
Polyisobutylene Market Share, by End-Use Industry (%):
Source: MRFR analysis
The polyisobutylene market is diversified into regions such as North America, Europe and Asia pacific. The demand from the automotive sector will make Asia pacific the leading market. There are much more drivers such as increasing per capita income and investments for the market. Countries such as chain, India and Japan will increase their product production.
Also, research will create a wide range of opportunities in the market. North America is the nest largest Polyisobutylene Market player. North America and Europe witness is a surge in the automobile industry demand. The presence of major automakers will expand the investments in the market. Furthermore, rising demand for electronic devices and pharma companies will increase product adoption in the forecast period.
The key players in Polyisobutylene Market are
November 2021: Lanxess, a leading manufacturer of polyisobutylene across the globe, lowered its full-year profit estimates and warned that already high energy and freight costs might rise considerably more in the fourth quarter, sending its stock plummeting. Following the pandemic, a resurgence in economic development has resulted in a jump in energy and raw material prices, placing pressure on businesses to pass on the increased expenses.
|Market Size||2030 : Significant Value|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Molecular Weight, Grade, Application , End-Use Industry|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||LANXESS (Germany), BASF SE (U.S.), DAELIM (South Korea), TPC Group (U.S.), Exxon Mobil Corporation (U.S.), Lubrizol Corporation (U.S.), INEOS (UK), JXTG Nippon Oil & Energy Corporation (Japan), Infineum International Limited (Singapore), and Chevron Oronite Company LLC (U.S.).|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||growth of transportation industry across developing regions|
Frequently Asked Questions (FAQ) :
PIB is a synthetic rubber produced by the cationic vinyl polymerization of isobutylene monomer.
Major end users of PIB include transportation, construction, electrical, healthcare, food and beverages, and cosmetics and personal care.
Growing transportation industry is the major driver for the PIB market.
Asia Pacific is the leading regional market for PIB.
Leading players in the PIB market include Lanxess, Lubrizol, and BASF, among others.