Industry News

Global Market for Polyisobutylene to Reach 1.3 Million Tons by 2020: GIA

Published on 2015-02-23. Author : SpecialChem

GIA announces the release of a comprehensive global report on Polyisobutylene (PIB). The global market for Polyisobutylene is projected to reach 1.3 million tons by 2020, driven by the recovery in automobile tire production in developing countries.

Polyisobutylene (PIB) is a key raw material used in the manufacture of tires, lubricants, adhesives, and sealants. Superior flexibility, thermal stability and impermeability features make polyisobutylene a versatile material. Primarily used in tire production, demand for polyisobutylene is influenced by automobile production trends. Steady gains in automobile sales and production in developing markets are driving growth in the market. Improved road infrastructure, expanding middle class population, increase in per capita vehicle ownership, and radialization of tires, represent factors spurring consumption of PIB in the automotive industry. Technology developments are poised to drive growth in the market. Engineered improvements in the properties and performance of polyisobutylene are helping expand application possibilities into newer areas such as medical equipment, lubricants, and adhesives.

PIB is rapidly gaining significance as a sealing substance for photovoltaic panel systems, largely due to its superior electrical insulation, resistance towards gases, and excellent water vapor barrier properties. Stringent regulations governing pharmaceutical packaging activities are helping spur demand for PIB in the pharmaceutical industry. The growing need to preserve the efficacy of active pharmaceutical ingredients in drugs, and combat the treat of counterfeit drugs will help accelerate growth in this sector. PIB is also finding increasing use as an adhesive in transdermal patches. Growing demand for innovative testosterone transdermal patches is therefore poised to benefit growth in the market. The mounting pressure to improve the performance of gasoline and diesel fuel is driving demand for polyisobutylene based fuel additives in the automotive industry. The growing focus on increasing engine performance is therefore spurring sales of PIB additives including polyisobutylene-amines, polyisobutylene mono-succinimide and polyisobutylene bis-succinimide. Stringent regulations and policies that mandate fuel production blended from high-performance additives is further fuelling the trend.

As stated by the new market research report on Polyisobutylene (PIB), Asia-Pacific represents the largest market worldwide. The region also ranks as the fastest growing market with a CAGR of 5.1% over the analysis period, led by growth in key end use sectors such as automobile manufacturing and transportation in countries like India and China. Highly Reactive PIB is expected to spearhead global growth, offsetting declines in demand for conventional PIB.

Major players covered in the report include BASF SE, Chevron Oronite Company LLC, Daelim Industrial. Co. Ltd., INEOS Group, Lubrizol Corporation, and TPC Group Inc.

The research report titled “Polyisobutylene (PIB): A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of industry segments, trends, growth drivers, restraints, market share, size and demand projections and forecasts. Major geographic regions covered include the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Middle East, and Latin America (Brazil and Rest of Latin America). Product segments analyzed include Conventional PIB and Highly Reactive PIB. End-use applications analyzed include Automotive and Other Applications. The report also offers coverage on mergers, acquisitions, product launches and other strategic industry activities of major global and regional players.

About Global Industry Analysts, Inc. (GIA)

Global Industry Analysts, Inc. (GIA) is a reputed publisher of off-the-shelf market research. Recognized as one of the most consistently accurate forecasting company in the world, GIA currently serves more than 8,500 companies from 36 countries worldwide. The company was founded in 1987, initially recognized globally as a research boutique specializing in the medical industry. Over the past 23 years, the company expanded its coverage and now publishes extensively upon more than 180 major industries.

Source: Global Industry Analysts

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