Newstrail.com

Search

Polyisobutylene (PIB) Market Is Estimated To Evolve At A CAGR Of 5.6% By 2033

polyisobutylene-pib-market-forecast-2023-2033

According to estimates, the market for polyisobutylene (PIB) would grow at a CAGR of 5.6% and reach a value of US$ 4 billion by 2033, up from US$ 2.3 billion in 2023. It is possible to create a clear synthetic hydrocarbon elastomer called polyisobutylene (PIB) or polyisobutene (C4H8) by polymerizing isobutylene. The production of a wide range of goods, including lubricants, tyres, adhesives, fuels, sealants, and others, need polyisobutylene as a critical raw material.

Due to its thermal stability, high flexibility, ozone resistance, oxidation resistance, and impermeability qualities, polyisobutylene is a versatile polymer with many applications. Its ability to withstand the elements enhances its demand in the production of mechanical products such as hosepipes, pharmaceutical stoppers, and construction sealants. The characteristics of polyisobutylene, such as electrical insulation, and is impermeable to water vapor and gases, making it an excellent choice for sealants in photovoltaic system panels.

๐ƒ๐จ๐ฐ๐ง๐ฅ๐จ๐š๐ ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐‚๐จ๐ฉ๐ฒ ๐จ๐Ÿ ๐“๐ก๐ข๐ฌ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ:-ย https://www.factmr.com/connectus/sample?flag=S&rep_id=5160?PJย 

๐Œ๐š๐ซ๐ค๐ž๐ญ ๐“๐ซ๐ž๐ง๐๐ฌ ๐š๐ง๐ ๐‚๐ก๐š๐ฅ๐ฅ๐ž๐ง๐ ๐ž๐ฌ :

โ€ข ๐†๐ซ๐จ๐ฐ๐ข๐ง๐  ๐ƒ๐ž๐ฆ๐š๐ง๐ ๐ข๐ง ๐ƒ๐ž๐ฏ๐ž๐ฅ๐จ๐ฉ๐ข๐ง๐  ๐‘๐ž๐ ๐ข๐จ๐ง๐ฌ: The increasing industrialization and automotive sectors in regions like Asia-Pacific were driving the demand for PIB-based products.

โ€ข ๐‘๐ž๐ ๐ฎ๐ฅ๐š๐ญ๐จ๐ซ๐ฒ ๐š๐ง๐ ๐„๐ง๐ฏ๐ข๐ซ๐จ๐ง๐ฆ๐ž๐ง๐ญ๐š๐ฅ
๐‚๐จ๐ง๐ฌ๐ข๐๐ž๐ซ๐š๐ญ๐ข๐จ๐ง๐ฌ: Like many chemical products, PIB’s production and usage are subject to regulatory scrutiny and environmental concerns. Industry players have been working on developing environmentally friendly formulations.

โ€ข ๐“๐ž๐œ๐ก๐ง๐จ๐ฅ๐จ๐ ๐ข๐œ๐š๐ฅ ๐€๐๐ฏ๐š๐ง๐œ๐ž๐ฆ๐ž๐ง๐ญ๐ฌ: Research and development efforts were focused on improving PIB’s properties and finding new applications, which could potentially open up new market segments.

โ€ข ๐‚๐จ๐ฆ๐ฉ๐ž๐ญ๐ข๐ญ๐ข๐จ๐ง ๐š๐ง๐ ๐๐ซ๐ข๐œ๐ข๐ง๐ : The market was competitive, and pricing dynamics could be influenced by factors such as feedstock prices and production capacity.

๐Š๐ž๐ฒ ๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ๐ฌ ๐จ๐Ÿ ๐๐ˆ๐ ๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก

โ€ข ๐๐ฒ ๐๐ซ๐จ๐๐ฎ๐œ๐ญ :

โ€ข Conventional
โ€ข Highly Reactive

โ€ข ๐๐ฒ ๐Œ๐จ๐ฅ๐ž๐œ๐ฎ๐ฅ๐š๐ซ ๐–๐ž๐ข๐ ๐ก๐ญ:

โ€ข High
โ€ข Medium
โ€ข Low

โ€ข ๐๐ฒ ๐„๐ง๐ ๐”๐ฌ๐ž:

โ€ข Automotive
โ€ข Industrial
โ€ข Food
โ€ข Other End Uses

Current Industry News and Trends:

  • Rising Demand in the Tire Industry: The tire industry is a major consumer of PIB, using it in the production of inner liners to enhance tire air retention and reduce permeation. As the global automotive industry continues to expand, driven by factors such as population growth and urbanization, the demand for tires and, consequently, PIB is expected to rise.
  • Increasing Use in Sealants and Adhesives: PIB is finding increased use in the sealants and adhesives industry, especially in construction and packaging applications. Its excellent adhesion and sealing properties make it an ideal choice for applications where a strong and long-lasting bond is required. The growth in construction and packaging sectors is expected to drive the demand for PIB-based products.
  • Expanding Healthcare Sector: PIB is used in the healthcare sector for applications such as pharmaceutical stoppers and seals for medical devices. As the global healthcare sector continues to grow, the demand for PIB in these applications is also on the rise.
  • Sustainability and Eco-Friendly Initiatives: With a growing emphasis on sustainability and eco-friendly materials, manufacturers are exploring ways to make PIB more environmentally friendly. This includes efforts to develop biodegradable PIB products and reduce the environmental impact of PIB production processes.
  • Market Consolidation: The PIB market has seen some degree of consolidation with major players acquiring smaller companies to expand their product portfolios and global reach. This trend is expected to continue as companies strive to strengthen their market presence and capabilities.
  • Technological Advancements: Ongoing research and development efforts are focused on improving the properties and versatility of PIB, leading to the development of specialized grades for various applications. Additionally, advancements in PIB production technologies are contributing to better product quality and cost-efficiency.

๐Œ๐š๐ซ๐ค๐ž๐ญ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ :-

โ€ข BASF SE
โ€ข Kothari Petrochemicals
โ€ข Chevron Oronite Company LLC
โ€ข Zhejiang Shunda New Material Co., Ltd
โ€ข Daelim Industrial. Co. Ltd
โ€ข Shandong Hongrui New Material Technology Co., Ltd
โ€ข INEOS Group
โ€ข ENEOS Corporation
โ€ข TPC Group Inc
โ€ข Lubrizol Corporation

๐‘๐ž๐ ๐ข๐จ๐ง๐š๐ฅ ๐š๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ ๐ข๐ง๐œ๐ฅ๐ฎ๐๐ž๐ฌ

โ€ข North America (U.S., Canada)
โ€ข Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
โ€ข EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
โ€ข CIS & Russia
โ€ข Japan
โ€ข Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)

๐‚๐จ๐ฆ๐ฉ๐ž๐ญ๐ข๐ญ๐ข๐ฏ๐ž ๐‹๐š๐ง๐๐ฌ๐œ๐š๐ฉ๐ž

The worldwide market is highly consolidated with a few major players holding most of the share. Key players in the PIB market are investing heavily in research and development activities, especially to develop environmentally friendly products.

โ€ข In September 2021, Braskem and CHEMETRY invested USD 18 million to establish a plant in Alagoas, Brazil, to manufacture EDC and caustic soda to fulfil domestic demand.

โ€ข BASF India joined BASF Performance Polyimides India in August 2021 to establish a single company for the development of all of its products in India. This merger aided the company in strengthening its position and improving access to key markets and industries.

โ€ข BASF SE introduced its polyisobutylene product, OPPANOL C, in the North American market in February 2021. OPPANOL C is manufactured as one-inch chips in order to save product development time and manufacturing procedures for customers by enabling simpler and faster processing.

โ€ข Daelim Industrial, a South Korean firm, signed a deal with Lubrizol, a US-based company, in 2021 to deliver its PIB production technology. The technology can be used to produce a variety of PIB, ranging from highly reactive to conventional PIBs.

๐†๐ž๐ญ ๐‚๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐š๐ญ๐ข๐จ๐ง ๐จ๐ง ๐ญ๐ก๐ข๐ฌ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐Ÿ๐จ๐ซ ๐’๐ฉ๐ž๐œ๐ข๐Ÿ๐ข๐œ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐’๐จ๐ฅ๐ฎ๐ญ๐ข๐จ๐ง๐ฌ:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=5160?PJย 

US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E Mail :ย sales@factmr.com

Facebook
Twitter
LinkedIn
Pinterest