ALBANY, New York, October 30, 2015 /PRNewswire/ --
Transparency Market Research has published a new market report titled "Medium Molecular Weight Polyisobutylene Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2023." The global medium molecular weight polyisobutylene market was valued at US$420.5 million in 2014 and is anticipated to reach US$610.1 million by 2023, at a CAGR of 4.3% between 2015 and 2023.
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Medium molecular-weight polyisobutylene have a weighted average molecular weight, Mw, of from 40,000 to 120,000 g/mol. Medium molecular weight polyisobutylene is used to adjust properties such as flexibility, elongation, cohesive strength, and gas barrier performance. It is used as viscosity modifier, tack improver in adhesive formulations, and primary binder in caulking and sealing compounds. Medium molecular weight polyisobutylene is also employed in fuel and lubricating oil additives.
Medium molecular polyisobutylene offers properties such as moisture resistance, high degree of elongation, and good adhesion to multiple substrates. This makes it useful in the manufacture of adhesives and sealants Thus, increasing demand for adhesives and sealants in various industries is estimated drive the medium molecular weight polyisobutylene market in the next few years. Furthermore, rising demand in lubricants owing to rapid industrialization and growth in the automotive sector is projected to augment the medium molecular weight polyisobutylene market in the near future. However, stringent regulations on the manufacture and usage of medium molecular weight polyisobutylene owing to its potential hazards to aquatic creatures, may hamper market growth. On the other hand, the chewing gum market is likely to offer new avenues for medium molecular weight polyisobutylene.
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Major applications of medium molecular weight polyisobutylene include gum base products, adhesives, sealants, and lubricants. In 2014, adhesives accounted for over 40% share of the global medium molecular weight polyisobutylene market. It is estimated to be the fastest-growing segment during the forecast period due to rising demand for adhesives in automotive and construction industries.
In terms of volume, Asia Pacific dominated the global medium molecular weight polyisobutylene market with more than 35% share in 2014. Significant industrial growth is the one of the major factors driving the medium molecular weight polyisobutylene market in the region. The medium molecular weight polyisobutylene market in Latin America and Middle East & Africa is expected to expand significantly in the near future owing to expansion in infrastructure and real estate industries in these regions.
Key players operating in the medium molecular weight polyisobutylene market include BASF SE, Zhejiang Shunda New Material Co., JX Nippon Oil & Energy Corporation, and Shandong Hongrui Petrochemical Co. Ltd. The report segments the medium molecular weight polyisobutylene market as follows:
Medium Molecular Weight Polyisobutylene Market - Application Analysis
- Gum base
- Others (Including bitumen modification, etc.)
Medium Molecular Weight Polyisobutylene Market - Regional Analysis
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
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