Polyisobutylene Market Size Worth $4.60 Billion by 2032 | CAGR: 3.90%

Polyisobutylene Market Size Worth $4.60 Billion by 2032 | CAGR: 3.90%

The global polyisobutylene market size is expected to reach USD 4.60 billion by 2032, according to a new study by Polaris Market Research. The report “Polyisobutylene Market Share, Size, Trends, Industry Analysis Report, By Molecular Weight (Low Molecular Weight, Medium Molecular Weight, and High Molecular Weight); By Application; By End-Use; By Region; Segment Forecast, 2024-2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Rapid expansion in the automotive sector and growing use of polyisobutylene in the manufacturing of several products including tires, adhesives, and sealants globally are prominent factors influencing the market growth. Key players of the market are heavily investing in R&D of cheaper & the eco-friendly catalysts with solvents to be used in the production of the polyisobutylene. Manufacturers are constantly expanding their production capacity and developing solutions to optimize their plants, that bode well for the market growth. For instance, in September 2022, Chevron Oronite, announced the completion of their phase I and II of lubricant additives expansion project in Singapore. The new expansion work in Singapore is crucial addition in the manufacturing capabilities in Asia, and the company will be delivering more products directly to the customers in the region.

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There has been a drastic increase in the popularity of polyisobutylene in medical applications as it possesses various beneficial characteristics including excellent tissue and blood compatibility. For example, a linear poly triblock copolymer is being widely used in clinical practice as a drug-eluting coating device, and more than 10 Mn patients have also benefited from the device, with strong emphasis on the significance of the PIB made bio-materials.

The rampant urbanization and industrialization particularly in emerging countries and continuous infrastructure development globally, that are boosting the construction sector and popularity of green buildings throughout the world, thereby fueling the demand for the product at exponential pace. Growth in the residential construction is likely to act as a driver for pressure sensitive and hot-melt adhesives worldwide.

Polyisobutylene Market Report Highlights

  • High molecular weight segment accounted for major global market share in 2022, on account of growing adoption of the product because of its high elasticity and resilient properties
  • Automotive rubber components segment is anticipated to grow at a healthy CAGR, which is mainly driven by continuous rise in the adoption of commercial vehicles for transportation purposes
  • Transportation segment is expected to lead the market with significant market share, mainly due to rising prevalence for the product in transportation sector due to high tensile strength and electrical insulation
  • Asia Pacific region dominated the global market in 2022, owing to extensive rise in the government investments towards the development of numerous industries and shift in consumer preferences for electrical vehicles
  • The global key market players include Shandong Hongrui, Dowpol Corporation, Lubrizol Corporation, Kothari Petrochemicals, & Exxon Mobil Corporation

Polaris Market Research has segmented the polyisobutylene market report based on molecular weight, application, end-use, and region:

Polyisobutylene, Molecular Weight Outlook (Revenue - USD Billion, 2019 - 2032)

  • Low Molecular Weight
  • Medium Molecular Weight
  • High Molecular Weight

Polyisobutylene, Application Outlook (Revenue - USD Billion, 2019 - 2032)

  • Tires
  • Lubes Additives
  • Fuel Additives
  • 2-Stroke Engines
  • Industrial Lubes & Others
  • Automotive Rubber Component
  • Adhesives & Sealants

Polyisobutylene, End-Use Outlook (Revenue - USD Billion, 2019 - 2032)

  • Transportation
  • Industrial
  • Food
  • Others

Polyisobutylene, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa