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, 2023-2032

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, 2023-2032

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, 2023-2032” 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.

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