Growing demand from end-use industries such as pharmaceutical, sealants, automotive and fuel additives is pushing the growth of the market.

NEW YORK CITY, NY, UNITED STATES, January 12, 2022 /EINPresswire.com/ -- The Global Polyisobutylene (PIB) Market is forecasted to reach USD 4.24 Billion by 2028, according to a new report by Reports and Data.
Polyisobutylene (PIB) is a commercial polymer used in multiple sectors due to its flexibility, thermal stability, and impermeability to gases. It is also used for the manufacture of tubeless tires as it is able to hold air for a longer period of time.

Polyisobutylene (PIB) includes oxidation resistance, improved stability, and superior impermeability. Improvement in weathering resistance for the manufacture of pharmaceutical stoppers, construction sealants, hosepipes, and various mechanical goods is expected to encourage the growth of the market. Polyisobutylene (PIB) is used as a sealant in the sealing of photovoltaic system panels. This is owing to its improved properties of electrical insulation and resistance to gasses, and water vapor.

Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/1340

Expansion of the automotive industry in emerging nations such as the Middle East and the Asia Pacific is boosting the market in the region. On account of improving the road infrastructure, increase in spending ability and rise in ownership of vehicles per person is fueling the market for Polyisobutylene (PIB). The rapid growth of end user including automotive and construction sector is further encouraging the market.

Key participants include BASF SE, TPC Group Inc., Ineos Group, Braskem, Exxon Mobil, Lanxess AG, Chevron Oronite Company LLC, Infineum International Ltd., The Lubrizol Corporation, and Berkshire Hathaway Inc. among

Further key findings from the report suggest

Polyisobutylene (PIB) is preferred over other synthetic and natural rubbers due to its good fragmentation performance, high cleanliness, and its self-healing nature.
Tires hold a market share of 19% in the year 2020. The ability of the product to hold air in for a longer period of time in the tube is increasing the demand for the product in this sector.
2-Strokes Engine has the highest growth rate of 6.9% throughout the forecast period.
Automotive dominates the market with a share of 21% of the market in the year 2020. Increasing application of Polyisobutylene (PIB) in the tire industry to improve heat retention capabilities during tire vulcanization is further forecasted to boost the market.
Polyisobutylene (PIB) with high molecular weight holds the largest market share of 35% in the year 2020. It has a high demand in industries like sealants and automotive owing to its oxidation, superior UV and high resistance property.
Increase in demand for packaging in the pharmaceutical industry to help preserve the quality of drugs is boosting the demand for the product in this sector also.
Pharmaceuticals is forecasted to grow with the highest CAGR of 6.4% throughout the forecast period.
APAC holds a market share of 24% in the year 2020. Emergence and expansion of automotive and sealant industries in APAC are fuelling the market growth.
Rising investment for the development of the product in the petrochemical sector will also propel the market growth in the Asia Pacific region. The region is forecasted to grow with a CAGR of 6.0% throughout the forecast period.
In 2020, BASF Petronas Chemicals established a new plant in Malaysia for highly reactive Polyisobutylene (PIB). This is likely to boost the market in APAC backed by high availability of the raw materials in the region.

Download Reports Summary @ https://www.reportsanddata.com/download-summary-form/1340

For the purpose of this report, Reports and Data have segmented the global Polyisobutylene (PIB) Market on the basis of Molecular Weight, Product, Application, End-Use Industry, and Region:

Molecular Weight Outlook
Low Molecular Weight
Medium Molecular Weight
High Molecular Weight

Product Outlook
Conventional PIB
Highly Reactive PIB

Application Outlook
Tires
Lubes Additives
Fuel Additives
2-Stroke Engines
Industrial Lubes and Others
Adhesives and Sealants

End-Use Industry Outlook
Automotive
Industrial
Food
Pharmaceuticals
Constructions
Cosmetics
Sporting Goods

Request customization of the report @ https://www.reportsanddata.com/request-customization-form/1340

Regional Outlook
North America
Europe
Asia Pacific
MEA
Latin America

Thank you for reading our report. Please connect with us to know more about the report and its customization feature. Our team will ensure the report is well suited to meet your requirements.

About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics and industries and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market

Tushar Rajput
Reports and Data
+ + 12127101370
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn