Catapulted by increasing applications in the automotive industry, demand for polyisobutene will reach $4.8 billion by 2032

High molecular weight polyisobutene will contribute more than 65% of total sales in 2032

An exhaustive study by Fact.MR on the global polyisobutene market provides an unbiased analysis of the key driver facilitating sales growth between 2022 and 2032. The study also offers in-depth information on emerging trends and opportunities that are increasing the polyisobutene demand across different segments including product type, molecular weight and end use.

NEW YORK, June 15, 2022 /PRNewswire/ — Global polyisobutene market sales totaled US$2.2 billion in 2021. Due to the increasing use of organic and eco-friendly industrial chemicals in various industries, the demand for polyisobutene is expected to reach US$2.3 billion by 2022.

Polyisobutene is gaining popularity in the automotive industry, due to its favorable properties such as gas impermeability, flexibility, thermal stability, chemical resistance, etc. Attributed to this, it is widely used in the production of automotive components such as gaskets, garden hoses, tubeless tires and window strips.

Hence, surging auto sales are expected to create lucrative opportunities in the global market. Driven by this, polyisobutene sales are expected to exceed a valuation of US$4.8 billion by the end of 2032, growing at a robust CAGR of 7.5% over the forecast period 2022-2032.

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According to Fact.MR, it is estimated that high molecular weight polyisobutene remains in high demand in the market and accounted for more than 65% of the total demand share in 2021. The growing applications in transportation, industrial and food as well as the production of films, adhesives and lubricants is expected to further accelerate the segment’s growth.

Key points to remember:

  • The United States is believed to remain a dominant market in North Americarepresenting a revenue share of nearly US$1.4 billion end of 2032.
  • Sales of polyisobutene are expected to increase at a steady pace in Germanydue to the increase in motor vehicle sales in the country.
  • China should represent a preponderant part in the Asia Pacific market, projecting growth at a CAGR of 7.9% over the assessment period.
  • India is expected to emerge as a highly lucrative market for polyisobutene, owing to its growing application in the production of paints, coatings and lubricants.
  • Among the end-use verticals, the automotive segment is expected to hold the maximum revenue share, posting a sales growth of 8% CAGR between 2022 and 2032.

Growth drivers:

  • Growing demand for paints and coatings, due to increased building and construction activities, especially in emerging countries such as China, India, Australiaand others are expected to strengthen polyisobutene sales in the market.
  • Shift customer preference towards adopting environmentally friendly additives such as polyisobutene for soot and sludge removal during manufacture of tubeless tires is estimated to increase the demand in the global market.

Constraints:

  • The implementation of stringent environmental regulations regarding the production of polyisobutene, due to the discharge of hazardous waste, is restraining the growth of the global market.
  • The existence of a number of alternatives such as nitrile rubber, styrene-butadiene rubber and others hinders the sales of polyisobutene.

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Competitive Landscape:

Leading polyisobutene manufacturers in the global market are emphasizing adoption strategies such as expanding production capacity, acquisition, partnership and collaboration to increase their revenue share and gain an edge on the market.

For instance,

  • In January 2019Total Energies and Saudi Aramco have announced that they have entered into a collaboration with a South Koreapetrochemicals manufacturer, Daelim Co. Ltd. for the development of a modern polyisobutene plant by the end of 2024.

Top Companies Featured by Fact.MR

  • BASF SE
  • Daelim Co. Ltd.
  • PTC Group
  • INEOS Group
  • Kothari Petrochemicals
  • Lubrizol Company
  • ExxonMobil Corporation
  • Lanxess AG
  • Zhejiang Shunda new material Co., Ltd.
  • Sinopec Beijing Yanshan Company
  • Honeywell International Inc.
  • Sumitomo Chemical Co., Ltd.
  • PJSC Nizhnekamskneftekhim
  • Shandong Chambroad Petrochemicals Co. Ltd.
  • Zibo Qixiangtengda Chemcial Co., Ltd.
  • Evonik Industries AG.
  • PTC Group
  • Global Bioenergies
  • LyondellBasell Industries Holdings BV

More valuable information about Polyisobutene Market

In its recent survey, Fact.MR highlights the crucial factors driving the growth of the global Polyisobutene market between 2022 and 2032. The study also offers vital insights into the drivers that are accelerating the growth of the Polyisobutene market through an detailed segmentation as follows:

By product type:

  • Conventional
  • Very responsive

By molecular weight:

By end use:

  • Automotive
  • Industrial
  • Food
  • Other end users

By region:

  • North America
  • Latin America
  • Europe
  • APAC
  • AEM

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Key questions addressed in the Polyisobutene Market report

  • What is the estimated revenue of the polyisobutene market during the forecast period?
  • What are the challenges faced in the polyisobutene market?
  • Which region is estimated to exhibit the fastest growth rate in the global polyisobutene market in 2022-2032?
  • What is the projected market valuation of the polyisobutene market in 2022?
  • What are the determining factors of polyisobutene during the period 2022-2032?
  • What is the expected growth rate of the polyisobutene market to 2032?

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