PUNE, India, December 11, 2017 /PRNewswire/ --
The report "Polyisobutylene Market by Product (C-PIB and HR-PIB), Molecular Weight (Low, Medium, and High), Application (Tires, Lube Additives, and Fuel Additives), End-use Industry (Transportation, Industrial, and Food), Region - Global Forecast to 2022" published by MarketsandMarkets™, the market is projected to grow from USD 2.16 Billion in 2017 to USD 2.78 Billion by 2022, at a CAGR of 5.2% from 2017 to 2022. Increasing use of polyisobutylene in the transportation and construction end-use industries is fueling the growth of the polyisobutylene market across the globe.
Browse 74 market data Tables and 34 Figures spread through 126 Pages and in-depth TOC on "Polyisobutylene Market"
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Based on product, the C-PIB segment is estimated to account for the largest share of the polyisobutylene market in 2017, in terms of value.
C-PIB is a low molecular weight polyisobutylene, which exhibits superior characteristics such as high resistance to oxidation and photodegradation. It is a colorless, odorless, viscous, and chemically inert liquid, which is available in the form of lubricants, sealants, adhesives, tapes, and wraps, among others. It is increasingly being used in the transportation, food, packaging, and sporting goods end-use industries. The Asia Pacific and North American regions are the major consumers of C-PIB and utilize it in large volumes in different end-use industries.
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The transportation end-use industry segment of the polyisobutylene market is projected to grow at the highest CAGR from 2017 to 2022.
Transportation, industrial, food, and construction, among others are the major consumers of polyisobutylene across the globe. The transportation end-use industry segment of the Polyisobutylene Market is projected to grow at the highest CAGR between 2017 and 2022. Moreover, the transportation industry is the largest consumer of polyisobutylene across the globe. It uses polyisobutylene in the form of rubber, fuel additives, and lubricants in different components of automobiles as polyisobutylene improves the viscosity index of gear oils and acts as a thickener in greases and suppressants in 2-stroke oils.
The Asia Pacific polyisobutylene market is projected to grow at the highest CAGR during the forecast period.
The Asia Pacific polyisobutylene market is projected to grow at the highest CAGR from 2017 to 2022. The growth of the Asia Pacific polyisobutylene market can be attributed to the increased use of polyisobutylene in various end-use industries as it offers high chemical resistance, low gas permeability, and high chemical resistance, among others. On account of increasing foreign direct investment (FDI) in various industrial activities taking place in the Asia Pacific region, the demand for polyisobutylene from the region is further expected to increase during the forecast period.
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Lubrizol Corporation (US), BASF (Germany), TPC Group (US), Lanxess AG (Germany), Nizhnekamskneftekhim (Russia), Reliance Industries (India), Sibur (Russia), Exxon Mobil (US), INEOS (UK), and Daelim (South Korea), among others are some of the leading players operating in the polyisobutylene market. These companies have adopted various organic and inorganic growth strategies such as agreements, acquisitions, expansions, and joint ventures to increase their global presence and enhance their position in the polyisobutylene market.
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