The Global Market for Polyisobutylene (PIB) is Projected to Reach 1.5 Million Tonnes by 2024

Revival in the Automotive Sector to Drive Consumption of Polyisobutylene (PIB), According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market size, share and demand forecasts on the global Polyisobutylene (PIB) market. The global market for Polyisobutylene (PIB) is projected to reach 1.5 million tonnes by 2024, driven by favorable automobile production trends; emergence of new application areas; and technological developments  

Polyisobutylene (PIB), also known as polybutene/polyisobutene/polybutylene/PIB, is a clear, synthetic hydrocarbon elastomer, manufactured by polymerization of isobutylene. Superior flexibility, thermal stability and impermeability characteristics make polyisobutylene a versatile material, driving its use in a wide range of applications, including tires, lubricants, fuels, adhesives, sealants and others. Primarily used in the manufacture of tires, demand for Polyisobutylene depends largely upon the trends in automotive industry. Increasing automobile production, driven by recovery in economies worldwide, along with rising sales of tires is driving demand for polyisobutylene across the globe. Enhanced bonding and air retention properties of PIB driven by technological advances are contributing to growing demand for PIB in automotive applications. Rising demand for tubeless tires and increasing use of PIB in their fabrication are expected to engender significant opportunities for growth in this application market. In addition, PIB continues to see rising demand as fuel additives, where it removes sludge, soot and oxidation byproducts that deposit in the engine and affect its performance. 

The growth in the market is also expected to benefit from rising adoption in non-automotive applications. PIB’s physical properties, such as water resistance, viscosity, tackiness, and electrical resistance drive its use in industrial applications. The material’s tackiness, resistance to moisture and adhesion render significant desired characteristics for use as base polymer or modifier in the adhesives and sealants is driving demand in this space. An emerging area of application is medical packaging, where PIB is increasingly adopted in place of rubber for packaging applications such as bottle seals and vials. Technological advancements and trends have enabled greater use of PIB in tires resulting in growing demand. Enhanced bonding and air retention properties of PIB driven by technological advances are contributing to growing demand for PIB in automotive applications, while advancements in such capabilities are fueling its use in other applications. Increase in use of enhanced PIB in applications such as adhesives, and growing adoption of PIBs in photovoltaic systems as sealants are also expected to drive market growth.

As stated by the new market research report on Polyisobutylene (PIB), Asia-Pacific represents the largest as well as the fastest growing market worldwide, with a CAGR of 5.1% through the analysis period. The market in the region is driven by strong and growing automotive market as well as tube and tire production. Stabilizing economic growth in countries such as India and China and rising incomes and changing lifestyles are major factors bearing a positive influence on automobile sales in the region. Demand in mature markets such as the U.S. and Europe is also expected to post steady growth due to recovery in automotive markets and growing consumption in other applications. Highly Reactive PIB (HR-PIB) is expected to witness the highest growth, driven by its growing use in mechanical rubber goods, adhesives, flooring, pharmaceuticals and footwear among others.

Major players in the market include BASF SE, Chevron Oronite Company LLC, Daelim Industrial Co. Ltd., INEOS Group, Lubrizol Corporation and TPC Group Inc., among others.

The research report titled “Polyisobutylene (PIB): A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for Polyisobutylene (PIB) in volume terms for all major geographic markets such as United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Middle East & Africa, and Latin America (Brazil and Rest of Latin America). Product segments analyzed include Conventional PIB and Highly Reactive PIB. The report also analyzes the global and regional markets for PIB by application markets - Automotive and Others.

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