Polyisobutylene Market Overview
Polyisobutylene (PIB) is a bright clear liquid obtained from polymerization of isobutene under catalyst system. It is widely used as an additive in the lubricants and fuels. Superior properties including corrosion resistance, oxidation stability, high thickening efficiency, and low electrical conductivity. The farfetched development of the automobile industry globally will fuel the polyisobutylene (PIB) market significantly over the next few years. The Polyisobutylene market is estimated to grow at a CAGR of 4.92% during the forecast period 2019–2024.
Polyisobutylene Market Outlook
This report categorizes the Polyisobutylene market into various segments. On the basis of molecular weight, the market has been segmented into low molecular, medium molecular, and high molecular weight. The market is also categorized based on the applications, which include CASE (Coating/Adhesives/Sealants/Elastomers), lubricant/lubricant additives, fuel additives, cosmetics, and personal care and others.
Polyisobutylene Market Growth Drivers
Automobile industry has been the main market for fuel additives for many years. The share for automobile has always been significantly higher than that of any other fuel additives market segment owing to the increasing middle-class economy and lack of efficient fossil fuel alternatives. Relative importance of aviation for fuel additives has increased in recent years, eventually mounting the demand for polyisobutylene.
With the increase in frozen foods market, the market for the flexible packaging is also estimated to see an upsurge as it is necessary to store and transport it under controlled temperature conditions. Growing consumption of packaged and canned food is driving the poluisobutylene market.
Polyisobutylene Market Challenges
The key challenges for the polyisobutylene market are the presence of various alternatives such as styrene-butadiene rubber, nitrile rubber, and many more which may affect the polyisobutylene market and its price. Another challenge is the stringent environmental legislations: Production of PIB involves emission of harmful waste which is a cause of environmental concerns. The repeated incidents of Polyisobutylene spill pose danger to the ecology, which is raising global concerns.
Polyisobutylene Market Research Scope
The base year of the study is 2018, with forecast done up to 2024. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. These provide the key market participants with the necessary business intelligence and help them understand the future of the types of polyisobutylene in the global polyisobutylene market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of polyisobutylene and its specific applications in the polyisobutylene market.
Polyisobutylene Market Report: Industry Coverage
Molecular weight: Low molecular weight, medium molecular weight, and high molecular weight.
Applications of Polyisobutylene: Coating/adhesive/sealants/elastomers, lubricant/lubricant additives, fuel additives, cosmetics, and personal care and others.
The Polyisobutylene market report also analyzes the regions and countries for the market. The regions and countries covered in the study include:
- North Americas (The U.S., Canada, and Mexico)
- South Americas (Brazil, Argentina, Colombia, and Rest of South Americas)
- Europe (The U.K., Germany, Italy, France, Spain, Russia, Rest of Europe)
- APAC (China, Japan, South Korea, India, Rest of APAC)
- Rest of World (The Middle East and Africa)
Polyisobutylene Market Key Players Perspective
BASF SE and Lubrizol are the two major providers of Polyisobutylene. Ineos, TPC Group Inc. and Infineum are the other major companies in the polyisobutylene market.
BASF, through its broad range of products, constant product launches, and innovation, has been successful in catering to a variety of customers. Monitoring its future business involvements, IndustryARC analysts expect BASF to maintain its position in the market.
Polyisobutylene Market Trends
Innovations are the ongoing trend in fuel additives business, driven by legislation that changes the fuel specifications to meet the demand to use high-quality fuel. For example, the reduction of sulfur in the middle distillate fuels has led to the development of lubricity additive to protect the diesel injector pumps using PIB-based formulations.
The farfetched development of the automobile industry globally will fuel the polyisobutylene (PIB) market significantly over the next few years. Automobile manufacturers are increasingly investing in research & development activities along with technological innovations, which will further augment the PIB market.
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