According to Stratistics MRC, the Global Polyisobutylene Market is estimated at $1.5 billion in 2015 and is poised to grow at a CAGR of 4.51% to reach $2.05 billion by 2022. Growth in automotive industry and rising demand for substitution of tires and tubes boosts the market demand during the forecast period. Enhancement of road infrastructure is estimated to fuel the trend for radial passenger vehicle tires, which results in the growth of the market. Besides, increasing severe regulations regarding most quality medical packaging is anticipated to boost the market. Increasing awareness about the usage of Polyisobutylene materials is expected to open lucrative opportunities for market growth.
Automotive segment accounted for about 75% of the total market in 2014. Asia Pacific commanded the largest share accounting for approximately 55% of the global market. The growth of industries such as transportation and automobiles particularly in developing regions such as China and India are anticipated to propel the market in Asia Pacific region. India is presently one of the fastest developing markets for polyisobutylene as many automotive manufactures are setting up novel production units in India.
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Some of the key players in the polyisobutylene market include ExxonMobil, Infineum International Ltd., BASF SE, TPC Group, Daelim, Chevron Oronite, Lanxess, The Lubrizol Corporation, Ineos Group Limited, ENEOS, and Infenium.
Products Covered:
? Conventional Polyisobutylene
? Highly Reactive Polyisobutylene
Applications Covered:
? Automotive Applications
? Tires
? Lubricant and Fuel Additives
? Adhesives
? Sealants
? Electronics
? Tackifiers and Modifiers
? Explosives
? Sporting Equipment
? Personal Care
? Others
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