Polyisobutylene (PIB) is an elastomer or a synthetic rubber. By molecular weight, the market is segmented into low, medium, and high. It is a versatile, non-toxic, and water-white viscous liquid. Polyisobutylene can increase tackiness, provide water-repellency, improve viscosity-index, and provide excellent electrical insulation.
In 2020, North America held the largest revenue share of the global polyisobutylene market. Rising demands from various applications, such as transportation, agrochemical, electrical, and adhesive, drive the growth of the market in North America. Polyisobutylene is increasingly utilized in the transportation, food, and construction industries as it offers low gas permeability, excellent tensile strength, high chemical resistance, and increased stiffness.
The COVID-19 pandemic drastically altered the status of the chemicals & materials sector and negatively impacted the growth of the polyisobutylene market.The global chemical & materials industry is one of the major industries suffering serious disruptions of the pandemic, such as supply chain breaks, technology events cancellations, and office shutdowns. The global travel bans imposed by countries in Europe, Asia, and North America are affecting the business collaborations and partnerships opportunities. All these factors are anticipated to affect the electronics and chemical & materials industry in a negative manner, which hinders the growth of various markets related to these industries. However, as the economies are planning to revive their operations, the demand for polyisobutylene is expected to rise globally. The demand for polyisobutylene from the downstream industrial lubes and lube additives sectors has started rising with the resumption of business activities and the lifting of lockdown measures globally. Market Insights
Automotive Industry to Fuel Market Growth During Forecast Period
For the automotive industry, performance of engines to perform their daily functions is important. The automotive industry has been the key market for several types of fuel additives for many years. The share for automobiles has continuously been higher than that of the other fuel additives market segment due to the lack of efficient fossil fuel alternatives and an increasing middle-class economy. The relative importance of aviation for fuel additives has boosted in recent years, ultimately mounting the demand for polyisobutylene.
Based on application, the global polyisobutylene market is segmented into tires, industrial lubes and lube additives, fuel additives, adhesives and sealants, and others. The industrial lubes and lube additives segment held the largest share of the market in 2020. Polyisobutylene (PIB) reacts with maleic anhydride to form polyisobutenyl- succinic-anhydride (PIBSA), a basic building block for dispersants in lube oils and detergents in fuels. Its other variant polyisobutylene-succinimide (PIBSI) derived from polyisobutylene (PIB) acts as an antioxidant emulsifier in soluble metalworking fluids and a lube additive building block. PIB also burn cleaner, making them ideal for use in two-stroke engines oils and marine applications where lubricants are subjected to harsh blow-by gases from huge diesel engines.
BASF SE, Braskem S.A., Daelim Industrial Petrochemical Division, Ineos AG, Infineum International Limited., Kothari Petrochemicals., Sibur Holding PJSC, Kemat Polybutenes, The Lubrizol Corporation, and TPC Group are among the key players in the global polyisobutylene market. Players operating in the market are highly focused on developing high-quality and innovative product offerings to fulfill the customer's requirements.
The regional trends and factors influencing the Polyisobutylene Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Polyisobutylene Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 2.87 Billion |
| Market Size by 2028 | US$ 3.89 Billion |
| Global CAGR (2021 - 2028) | 4.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Molecular Weight
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Polyisobutylene Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Polyisobutylene Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The List of Companies - Polyisobutylene Market
Polyisobutylene (PIB) are also used as substitutes for bright stock owing to their advantages such as better viscosity indices and more oxidative and hydrolytic stability. PIB also burn cleaner, making them ideal for use in two-stroke engines oils and marine applications where lubricants are subjected to harsh blow-by gases from huge diesel engines. PIBs are often used in industrial gear oils and have long been used as thickeners in automotive gear oils. The ubiquitous use of polyisobutylene in industrial gear oils is expected to have a positive influence on the polyisobutylene industry.
The major players operating in the global polyisobutylene market are BASF SE, Braskem SA, Daelim Industrial Petrochemical Division, Ineos AG, Infineum International Limited, Kemat Polybutenes, Kothari Petrochemicals, Sibur Holding PJSC, The Lubrizol Corporation, and TPC Group; among many others.
In 2018, the polyisobutylene market was predominant in North America at the global level. North America region has a well-established automotive and transport industry. The increase in the production of automotive propels the demand for polyisobutylene. Therefore, increased demand for automobiles and infrastructure developments in the US and Canada are expected to fuel the polyisobutylene market during the forecast period.