The demand for polyisobutylene is majorly driven by the growth of transportation industry across developing regions such as the Asia Pacific and Latin America. Significant growth in automotive production and sales is propelling the market growth. Additionally, rising environmental concerns have increased the production of electric vehicles in both developed and the developing countries. Rapidly expanding aerospace industry with increasing demand for the aircraft is another important factor driving the global PIB market across the globe.

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The product consumption is rising in the electrical industry with growing the demand for consumer electronic products such as smart TV, wireless speakers, and home appliances. Growing construction industry along with improving living standard and rising per capita income of the consumers are significantly driving the market growth. The demand for PIB is increasing from the healthcare industry due to non-toxicity and non-skin resistant properties.

Key Players and Competition Analysis

Some of the key players in the global polyisobutylene market are LANXESS (Germany), BASF SE (U.S.), DAELIM (South Korea), TPC Group (U.S.), Exxon Mobil Corporation (U.S.), Lubrizol Corporation (U.S.), INEOS (UK), JXTG Nippon Oil & Energy Corporation (Japan), Infineum International Limited (Singapore), and Chevron Oronite Company LLC (U.S.)

Segmentation Analysis

The global polyisobutylene market is segmented into molecular weight, grade, applications, and region.

Based on the molecular weight, the PIB market is bifurcated into low & medium and high,

Based on the grade, the market is segmented into conventional PIB and highly reactive (HR) PIB.

By the application, the market is segregated into tire & tubes, adhesives, sealants, lubricants, electrical insulation, and stretch wrap.

Based on the end-use industry, the market is segmented into transportation, construction, electrical, food & beverage, healthcare, cosmetics & personal care, and others.

Regional Analysis

Asia Pacific was largest polyisobutylene market in 2016 across the globe and is expected to grow at a significant rate during the review period. Moreover, rapidly expanding automotive industry in the emerging economies such as India, China, and Thailand coupled with rising disposable income of the consumers is driving the market growth. For instance, according to the Indian Brand Equity Foundation, sales of a passenger vehicle in India is expected to witness a CAGR of 11% during 2016-2026. Additionally, PIB consumption is increasing in the construction industry as a result of growing investment in the infrastructural activities in this region. Initiatives taken by the Indian government such as Smart Cities Mission and Atal Mission for Rejuvenation and Urban Transformation are augmenting the market growth in this region. Moreover, an appealing electrical industry with increasing demand for the miniaturized electronic devices is another important factor driving the PIB market of this region.

Browse the market data and information spread across 100 pages with 59 data tables and 15 figures of the report “Polyisobutylene Market Research Report – Forecast to 2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/polyisobutylene-market-5911

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