What Fueled The Previous Growth In The Polyisobutylene Market?
The polyisobutylene market has seen considerable growth due to a variety of factors.
• The market size of polyisobutylene has experienced significant growth in the recent past. The market is projected to increase from $2.63 billion in 2024 to $2.8 billion in 2025, indicative of a compound annual growth rate (CAGR) of 6.1%. Factors contributing to this expansion during the historic period include the increased use of lubricant and fuel additives, growth in the construction and infrastructure sectors, heightened demand for industrial rubber, the rising use of polymer modification applications, the growing adhesives and sealants industry, along with the implementation of strict regulations in the chemical industry.
What Can Be Expected from the Polyisobutylene Market?
The Polyisobutylene market is expected to maintain its strong growth trajectory in upcoming years.
• The polyisobutylene market is projected to experience robust expansion in the coming years, with its valuation expected to reach $3.67 billion by 2029, growing at a compound annual growth rate (CAGR) of 7.1%.
Factors such as advancements in the field of polymer science, the rising appeal for biodegradable polymers, emphasis on eco-friendly packaging, increased demand for synthetic rubber, and the need for high-performance lubricants contribute to the growth during the forecast period. The period is also likely to witness major trends like technological advancements in tire production, progression in polymer modification, globalization and market proliferation, and innovative technologies in polyisobutylene production.
What Are the Critical Driver Fuelling The Polyisobutylene Market's Growth?
The anticipated surge in demand for tires and tubes is predicted to fuel the escalated growth of the polyisobutylene market. In the realm of transportation, tires and tubes serve as crucial automotive components. Polyisobutylene, a type of synthetic rubber, is extensively used in creating inner tubes for vehicles like buses, lorries, and planes due to its oxygen-repelling capabilities. Therefore, the increased demand for tires and tubeless tires is boosting the market for polyisobutylene. For example, an article by the U.S. Tire Manufacturers Association, a trade association for tire producers in America, noted that the total tire shipments within the United States might hit 342.1 million units in 2022, seeing a rise from 335.2 million units in 2021. Consequently, the expanding demand in the tires and tubes market is promoting the polyisobutylene market's growth.
How Is The Polyisobutylene Market segmented?
The polyisobutylene market covered in this report is segmented –
1) By Product: Conventional PIB, Highly Reactive PIB
2) By Molecular Weight: Low Molecular Weight, Medium Molecular Weight, High Molecular Weight
3) By Application: Tires And Tubes, Adhesives, Sealants, Lubricants, Electrical Insulation, Stretch Wrap
4) By End User Industry: Industrial, Food, Other End User Industries
Subsegments:
1) By Conventional PIB: Low Molecular Weight PIB, High Molecular Weight PIB
2) By Highly Reactive PIB: Modified PIB, Functionalized PIB
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What New Trends Are Influencing The Polyisobutylene Market?
The polyisobutylene market is expected to grow owing to the rising demand for personal care items. Such products, which are consumer goods aimed at personal hygiene and self-care, encompass skin care, hair care, and oral care commodities. Polyisobutylene is employed in makeup and personal care goods to form a protective coating on the skin through lotions, creams, conditioners, hair care items, and sanitation products. For instance, The Bureau of Labor Statistics, a government agency in the United States, reported in September 2023 that the average spending on personal care products saw a hike of 12.3 percent, moving from $771 in 2021 to $866 in 2022. Therefore, the augmented demand for personal care items is fuelling the growth of the polyisobutylene market.
Who Are the Key Players In The Polyisobutylene Market?
Major companies operating in the polyisobutylene market include:
• Badische Anilin und Soda Fabrik Societas Europaea
• TPC Group
• Lubrizol Corporation
• INEOS Group Limited
• Kothari Petrochemicals Limited
• Braskem
• ENEOS Corporation
• Janex S.A.
• RB Products Inc.
• Chevron Corporation
• Mayzo Inc.
• Reliance Industries Limited
• Evonik Industries AG
• KEMAT N.V
• Santa Cruz Biotechnology Inc
• Daelim Industrial Company Ltd
• ExxonMobil
• Lanxess
• Dowpol Corporation
• Infineum
• Shandong Hongrui New Material Technology
• Afton Chemical Corporation
• Zhejiang Shunda New Material
• SABIC
• Kemipex
• FERRO-PLAST S.r.l.
• SpecialChem
• Chemspec Ltd.
• Jilin Petrochemical Company
• Efremov Synthetic Rubber Enterprise Company
• Naxant
• Connect Chemicals
• JXTG Nippon Oil & Energy Corporation
What Is The Most Dominant Region In The Polyisobutylene Market?
Asia-Pacific was the largest region in the polyisobutylene market in 2024. Asia-Pacific is expected to be the fastest-growing region in the polyisobutylene market during the forecast period. The regions covered in the polyisobutylene market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
