Polyisobutylene Market worth $4.0 billion by 2027 - Exclusive Report by MarketsandMarkets™

CHICAGO, Nov. 9, 2022 /PRNewswire/ -- According to the new market report "Polyisobutylene Market by Product (C-PIB and HR-PIB), Molecular Weight (Low, Medium, and High), Application (Tires, Lube Additives, and Fuel Additives), End-use Industry (Transportation, Industrial, and Food), Region - Global Forecast to 2027", is anticipated to grow from USD 2.9 billion in 2022 to USD 4.0 billion by 2027, registering the CAGR of 6.8% from 2022 to 2027. Increasing demand of polyisobutylene in the transportation and construction end-use industries is fueling the growth of the polyisobutylene market around the globe.

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Based on product, the C-PIB segment is estimated to account for the largest share of the polyisobutylene market in 2021, in terms of value.

C-PIB is a low molecular weight polyisobutylene, exhibiting superior characteristics such as high resistance to oxidation and photodegradation. It is a colorless, odorless, viscous, and chemically inert liquid. C-PIB is available in the form of lubricants, sealants, adhesives, tapes, and wraps, among others. Due to these factors, it is extensively being used in the transportation, food, packaging, and sporting goods end-use industries. The Asia Pacific and Europe are the major consumers of C-PIB and utilize it in large volumes in different end-use industries.

The transportation end-use industry segment of the polyisobutylene market is projected to grow at the highest CAGR from 2022 to 2027.

Polyisobutylene market has been segmented into Transportation, industrial, food, and construction, among others on basis End-Use industry. The transportation end-use industry segment of the polyisobutylene market is anticipated to grow at the highest CAGR between 2022 and 2027. Moreover, it is also the largest consumer of polyisobutylene around the globe. It uses polyisobutylene in the form of rubber, fuel additives, and lubricants in different components of automobiles as polyisobutylene improves the viscosity index of gear oils and acts as a thickener in greases and suppressants in 2-stroke oils.

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The Asia Pacific polyisobutylene market is projected to grow at the highest CAGR during the forecast period.

The Asia Pacific polyisobutylene market is projected to grow at the highest CAGR from 2022 to 2027. The growth of the polyisobutylene market in Asia Pacific is mainly driven by growing demand for products with high tensile strength, low gas permeability, electrical insulation, low maintenance, and long shelf life in different end-use industries. On account of increasing foreign direct investment (FDI) in various industrial activities taking place in the Asia Pacific region, the demand for polyisobutylene from the region is further anticipated to increase during the forecast period.

Lubrizol Corporation (US), BASF (Germany), TPC Group (US), Lanxess AG (Germany), Nizhnekamskneftekhim (Russia), Reliance Industries (India), Sibur (Russia), Exxon Mobil (US), INEOS (UK), and Daelim (South Korea), among others are the key players operating in the polyisobutylene market.

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