Polyisobutylene Market Trends

Global Polyisobutylene (PIB) Market Overview

The Polyisobutylene (PIB) Market Size was valued at USD 2.9 Billion in 2022. The Polyisobutylene industry is projected to grow from USD 2.15 Billion in 2023 to USD 3.7 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.3% during the forecast period (2023 - 2030). This rubber is durable enough for many crucial products. The products such as Tires tubes, adhesives, sealants, and lubricants use synthetic rubber material. It is a class of organic polymer that is categorized as a gummy solid. The low molecular weight of this product makes it suitable for tire industries. There is a mixture of solids and oligomers in this synthetic Polyisobutylene. It is an elastomer's rubber that has both flexibility and at the same time proper sturdiness. The polyisobutylene industry demand is surging due to its demand from various end-users.Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Polyisobutylene (PIB) Market Trends

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  Growth of the transportation industry across developing regions.

  
  

Rising demand from the tires and tubes market is a crucial market driver. Tire and tubes are crucial demand drivers of the market. The tires are made with strong rubber. Polyisobutylene is a rubber that can be modified according to every need. Due to its flexibility and wide range of features adoption rate is higher. The automotive industries have increased the usage of Polyisobutylene synthetic rubbers. The high tensile strength and flexibility of the rubber make it suitable for this process. The demand from various users is a demand-driving factor. The rising Consumer demand for consumer electronic devices such as smart TVs, wireless speakers, and home appliances is driving demand. The electrical industry is another crucial driver of this market. Investments in cause electronics play a major role in this marke

Additionally, The Polyisobutylene Market is being driven by the growing construction industry. The rising living standards and rising per capita income of consumers create this demand. These crucial drivers will create high revenue for Polyisobutylene. These factors will create more expansion and a rise in supply rates for the market.

Polyisobutylene (PIB) Market Segment Insights

Polyisobutylene (PIB) Product Insights

The Polyisobutylene (PIB) Market segmentation, based on Product, includes High Molecular Weight, Medium Molecular Weight, and Low Molecular Weight. High molecular weight polyisobutylene dominated the market and accounted for a revenue share of more than 65.0% in 2020. Polyisobutylene is segmented into high, medium, and low molecular weights based on the molecular weight range. High molecular weight polyisobutylene is a transparent solid rubber-like substance with ultra-high viscosity and molecular weight. The high molecular weight helps polyisobutylene to retain its high elasticity and resilient properties. Due to the above-mentioned properties, it is used in a wide range of applications, including stretch films, lubricants, and adhesives in the industrial, transportation, and food sectors.  

Polyisobutylene (PIB) Application Insights

Based on Application, the Polyisobutylene (PIB) Market segmentation includes Adhesives & Sealants, Automotive Rubber Components, Fuel Additives, Lubricant Additives, and Others. Lubricant additives dominated the market and accounted for a revenue share of more than 55.0% in 2020. Emerging market in the Asia Pacific due to the increasing industrial production is anticipated to drive the demand for industrial oil products over the forecast period. The chemical and mining industries are projected to be among the largest consumers of industrial lubricants. This growing trend is expected to boost the demand for industrial lubricants in applications, such as hydraulics, industrial engines, centrifuges, compressors, and bearings.

Figure 2: Polyisobutylene (PIB) Market, by Product, 2022 & 2030 (USD Billion)            Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Polyisobutylene (PIB) Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. the demand for PIB is highest in Asia-Pacific, followed by Europe and North America. Asia-Pacific is expected to remain the largest and fastest-growing market for PIB due to the increasing demand for adhesives, sealants, and lubricants from various industries such as automotive, construction, and packaging.

Figure 3: POLYISOBUTYLENE (PIB) MARKET SHARE BY REGION 2022 (%)      Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review 

In Europe, the demand for PIB is driven by the growing demand for high-performance lubricants and fuel additives, as well as increasing environmental regulations. In North America, the demand for PIB is primarily driven by the automotive industry, where it is used in the production of fuel hoses and gaskets.

Polyisobutylene (PIB) Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Polyisobutylene (PIB) market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Polyisobutylene (PIB) industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Polyisobutylene (PIB). With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their global presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Polyisobutylene (PIB) industry must offer affordable products.

Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global Polyisobutylene (PIB) industry to benefit customers and expand the market sector. The Polyisobutylene (PIB) market has recently given medicine some of the most important advantages. Major Polyisobutylene (PIB) market players, including LANXESS (Germany), Exxon Mobil Corporation (U.S.), BASF SE (U.S.), Lubrizol Corporation (U.S.), and others, are attempting to increase market demand by funding R&D initiatives.

ANXESS is a company that develops, manufactures, and markets chemical intermediates, specialty chemicals, and plastics. It operates through four segments: Advanced Intermediates, Specialty Additives, Consumer Protection, and Engineering Materials. The Advanced Intermediates segment offers intermediates, organometallics, and tire chemicals.

Also, ExxonMobil is a global oil and gas company and energy provider. It operates through three business divisions: Upstream, Downstream, and Chemical. The company engages in the exploration, production, trade, transport, and sale of crude oil, natural gas, petroleum products, petrochemicals, etc. ExxonMobil markets fuels, lubricants, and chemicals under four brands: Esso, Exxon, Mobil, and ExxonMobil Chemical.

Key Companies in the Polyisobutylene (PIB) market include

• LANXESS (Germany)


• Exxon Mobil Corporation (U.S.)


• BASF SE (U.S.)


• Lubrizol Corporation (U.S.),


• DAELIM (South Korea)


• Chevron Oronite Company LLC (U.S.)


• TPC Group (U.S.)


• INEOS (UK)


• JXTG Nippon Oil & Energy Corporation (Japan)

Polyisobutylene (PIB) Industry Developments

November 2021: Lanxess, a leading manufacturer of polyisobutylene across the globe, lowered its full-year profit estimates and warned that already high energy and freight costs might rise considerably more in the fourth quarter, sending its stock plummeting. Following the pandemic, a resurgence in economic development has resulted in a jump in energy and raw material prices, placing pressure on businesses to pass on the increased expenses.

Polyisobutylene (PIB) Market Segmentation

Polyisobutylene (PIB) Product Outlook

• High Molecular Weight


• Medium Molecular Weight


• Low Molecular Weight

Polyisobutylene (PIB) Application Outlook

• Adhesives & Sealants


• Automotive Rubber Component


• Fuel Additives


• Lubricant Additives


• Others

Polyisobutylene (PIB) Regional Outlook

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  North America

  
  
  
  
  • US
  
  
  • Canada
  
  
  
  

   

  
  


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  Europe

  
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  

   

  
  


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  Asia-Pacific

  
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  

   

  
  


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  Rest of the World

  
  
  
  
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    Middle East

    
    
  
  
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    Africa

    
    
  
  
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    Latin America