Polyisobutylene Market Key Trends, Share, Growth and Industry Analysis 2015 – 2023

Global Polyisobutylene Market: Overview

Polyisobutylene has been witnessing a remarkable surge in it demand. The growing demand for commercial as well as personal automobiles, thanks to the rising disposable income of people, has been fueling the application of polyisobutylene in the automotive industry, specifically in the production of tires and tubes. Analysts project the demand for this copolymer to remain increasing significantly over the next few years.

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According to TMR, the opportunity in polyisobutylene, globally, is estimated to rise at a CAGR of 5.40% during the period from 2015 to 2023 and increase from US$3.3 bn in 2014 to US$5.3 bn by the end of 2023. Additives, adhesives, and sealants are also expected to report extensive demand for polyisobutylene in the near future.

Automotive to Remain Key Consumer of Polyisobutylene

Automobiles and additives are the prime application areas of polyisobutylene. The copolymer also finds a widespread application in chewing gums, sports equipment, and medical bottle stoppers. The key contributor to the rapidly growing demand for polyisobutylene is the automotive industry. In 2014, the sector accounted for a whopping share of 73% in the overall demand for polyisobutylene across the world, which is likely to increase to 75% by the end of 2023.

Polyisobutylene witnesses a significant demand in additives also. The increasing demand for lubricants for repairing and the maintenance of automobiles has fueled the application of this copolymer in this segment remarkably in the recent times. In additives, the opportunity in polyisobutylene was worth US$348.2 mn in 2014 and is estimated to rise to US$553.8 mn by the end of 2023.

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Demand for Polyisobutylene to Remain High in Asia Pacific

Regionally, the worldwide polyisobutylene market is segmented into Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. With a share of more than 55%, Asia Pacific led the consumption of polyisobutylene across the world. Analysts expect the region to remain the leading consumer of this copolymer in the near future on account of the rapid urbanization and the large-scale industrialization. The rising demand for automobiles and the infrastructural development in Asia Pacific is also expected to boost the application of this copolymer in this region over the next few years. China will remain the key consumer of polyisobutylene in Asia Pacific, says TMR.

Europe, which emerged second in 2014, is projected to continue in this position, albeit with reduced market share. On the other hand, Latin America and the Middle East and Africa are anticipated to report a healthy increase in their respective shares. The demand for polyisobutylene in Europe is driven by the rising preference for tubeless tires in vehicles.

The global market for polyisobutylene, led by Nizhekamskneftekhim, ExxonMobil Corp., and Lanxess, demonstrates a highly consolidated business landscape. The top three players jointly account for a share of more than 65% in the overall market. BASF SE, TPC Group, Kothari Petrochemicals, Proteux Corp., Infineum International Ltd., Chevron Oronite Co. LLC, and Berkshire Hathaway Inc. are some of the other prominent vendors of polyisobutylene.

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