Global Polyisobutylene Market is Expected to Reach USD 1.78 billion by 2019: Transparency Market Research
ALBANY, New York, August 21, 2014 /PRNewswire/ --
According to a new market report published by Transparency Market Research "Polyisobutylene (Butyl Rubber) Market for Automotives, Additives and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019", the polyisobutylene market was valued at USD 1.32 billion in 2012 and is expected to reach USD 1.78 billion by 2019, growing at a CAGR of 4.3% over the forecast period from 2013 to 2019. In terms of volume, global polyisobutylene market was 880.6 kilo tons in 2012.
Improvement of road infrastructure and radialization are expected to stimulate the trend for radial passenger vehicle tires, in turn, driving the polyisobutylene (PIB) market growth. Additionally, increasing trade activities across various regions due to improving economic conditions have led to a growing trend for radial trucks and bus tires in emerging as well as developed economies, which is expected to augment demand for PIB. Moreover, increasing number of stringent regulations regarding high quality medical packaging is expected to fuel the demand for PIB further. BRIC countries have a tremendous potential for PIB demand in the near future. High tire replacement activities in regions such as North America and Europe are also expected to exhibit high demand for PIB over the next few years.
Browse the full Polyisobutylene Market Report at http://www.transparencymarketresearch.com/polyisobutylene-market.html
PIB demand is also expected to increase on account of the growth of the other high quality non-automobile applications such as medical devices and adhesives and sealants as PIB is the first choice material in medical applications due to its high impermeability to gases and liquids. For instance, use of PIB for medical stoppers is mandatory in China. This is anticipated to fuel the demand for PIB further. However, the environmental impact on account of the PIB spills is expected to hinder the market growth over the forecast period. Growing awareness regarding the use of recyclable PIB materials is anticipated to open new opportunities for growth of the PIB market.
Automotive applications dominated the PIB market and accounted for approximately 75% of the total market in 2012. The increasing demand of tires on account of the rapidly growing automobile industry is expected to augment the demand for PIB substantially within the forecast period. The growing demand of lubricants is expected to drive the demand for PIB in additives. .The growing disposable income level mainly in BRIC (Brazil, Russia, India and China) is one of the major factors driving the demand for PIB within the forecast period.
Asia Pacific dominated the global polyisobutylene market and accounted for over 55% of the total polyisobutylene market in 2012. Asia Pacific is expected to be the fastest growing market for polyisobutylene over the forecast period. The growth of major end use industries including automobiles and transportation mainly in emerging economies of China and India are expected to fuel the market for polyisobutylene in the region.
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The report gives a comprehensive view of the polyisobutylene market in terms of volume and revenue. In addition, the report includes current demand analysis and forecast for each product and application in North America, Europe, Asia Pacific and Rest of the World. The report comprises of the following segments:
Polyisobutylene Market - Application Analysis
- Others (Pharmaceutical, adhesives & sealants, construction, etc.)
Polyisobutylene Market - Regional Analysis
- North America
- Asia Pacific
- Rest of the World (RoW)
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