Global Polyisobutylene (Butyl Rubber) Market for Automotives, Additives and Other Applications - Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019

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Aug 28, 2014, 12:32 ET

DUBLIN, Aug. 28, 2014 /PRNewswire/ -- Research and Markets has announced the addition of the "Polyisobutylene (Butyl Rubber) Market for Automotives, Additives and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019" report to their offering.

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Polyisobutylene (PIB) or butyl rubber (IIR) is a commercial synthetic rubber used for manufacturing a range of products such as innerliners of tires, additives for motor oils, adhesive tapes, sealants, stoppers for medical bottles and sports equipment among others. PIB has applications in various industries on account of its excellent impermeability, thermal stability and flexibility.

Different innovations and changing trends in the tire technology have led to the growing demand for polyisobutylene in the automotives industry. Polyisobutylene is increasingly being used to manufacture durable tires. In addition, the growing automotive industry coupled with the increasing demand for replacement of tires and tubes is expected to drive the demand for the polyisobutylene within the forecast period. The rising demand for polyisobutylene in sealants and adhesives on account of its superior elastic properties coupled with the rapid growing need of polyisobutylene in pharmaceutical packaging is expected to augment the demand for PIB in the near future. PIB is transported around the world on a regular and increasing basis.

It is one of the most rapidly growing segments of the rubber industry. However, PIB becomes highly reactive and unstable at high temperatures which may lead to potentially hazardous accidents. Additionally, use of polyisobutylene in ship engines as a lubricant results in the contamination of water leads to pollution of the water bodies which in turn may result in harming aquatic life by causing deaths and genetic alteration in the long run. These parameters are expected to hamper the PIB market over the next few years. Focus towards R&D activities on recycling of rubber is expected to provide new opportunities for the growth of the market.

Automotives was the largest application segment of PIB accounting for 75.3% in 2012 followed by its demand in additives. This trend is expected to grow within the forecast period. Strong economic environment which is resulting in new vehicle production is expected to increase the demand for tires and tubes and in turn polyisobutylene. Emerging economies such as the BRIC represent major markets for automobiles which would drive the PIB market within the forecast period. In addition, increasing demand for additives in lubricants, other fuels and formulations is anticipated to increase the demand for PIB in additives. Demand for PIB in other applications such as construction, adhesives and pharmaceuticals are expected to be one of the attractive segments for the PIB market within the forecast period.

In 2012, demand for PIB was 485.7 kilo tons in Asia Pacific and is expected to witness the highest growth over the next six years. Several factors such as rising demand of tubeless tires, changing lifestyles, growing demand for hygiene in medical areas, urbanization, rising infrastructural activities are expected to drive the demand for PIB in this region. Demand for PIB is expected to be steady in developed markets of North America and Europe in the next few years with respect to end-use categories such as replacement of lubricants, motor oils and additives for other applications. Presence of stringent regulations regarding packaging of pharmaceuticals to prevent presence of fraudulent drugs in the market and maintenance of the chemical properties of the drugs is expected to boost the demand for polyisobutylene over the next few years.

Companies such as BASF SE, Chevron Oronite, ExxonMobil Corporation, Infineum, Lanxess, TPC Group and the Lubrizol Corporation are the key players of the PIB market. In addition, the polyisobutylene market is highly consolidated, with the top six companies having a market share of more than 60%. The consolidated nature of the market provides very less scope for new players to enter into the market.

Key Topics Covered:

Chapter 1 Preface

Chapter 2 Executive Summary

Chapter 3 Polyisobutylene - Industry Analysis

Chapter 4 Global Polyisobutylene Market - Application Analysis

Chapter 5 Global Polyisobutylene Market - Regional Analysis

Chapter 6 Company Profiles

Companies Mentioned: