The global polyisobutylene market is projected to reach USD 4.0 billion by 2027, at a CAGR of 6.8% from 2022 to 2027. Polyisobutylene is a polymer produced by cationic polymerization of isobutylene with C4 hydrocarbons. It is used for their high viscosity, high flash point, excellent elasticity, and durability. The use of polyisobutylene has become crucial in various end-use industries such as transportation as they exhibit low gas permeability, high electrical insulation, and increased tensile strength. Asia Pacific is the dominating PIB market. This larger market share is attributed to the high demand from end-use industries such as transportation, industrial applications, and food in the region. Growing investment in the transportation sector in the Asia Pacific region is one of the major reasons behind the growing consumption in the region.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=15506155
Companies operating in the polyisobutylene market have strengthened their position in the global polyisobutylene market by adopting expansions, partnerships, agreements, new product/technology launches, joint ventures, contracts, and mergers & acquisitions from 2018-2022. However, the novel coronavirus pandemic has created ripples across the global automotive & transportation, industrial, and many other sectors, affecting the global supply chains. These factors have affected the demand for polyisobutylene. The demand is expected to recover bounce and picking up momentum by 2022.
The major players in polyisobutylene market are Lubrizol Corporation (US), BASF (Germany), TPC Group (US), Lanxess AG (Germany), Nizhnekamskneftekhim (Russia), Reliance Industries (India), Sibur (Russia), Exxon Mobil (US), INEOS (UK), and Daelim (South Korea).
Sibur (Russia) and BASF (Germany) are the major companies operating in the polyisobutylene market, who have adopted the maximum number of growth strategies between 2018 and 2012. SIBUR is one of the major manufacturers of polyisobutylene for use in different end-use industries such as transportation and food, among others. The company accounted for the largest share of all the developmental activities that took place in the polyisobutylene market between 2018 and 2022. The company follows dynamic growth strategies, especially acquisitions, expansions, and joint ventures to strengthen its product portfolio and geographical presence. For instance, in March 2020, SIBUR (Russia) did Partnership with Sinopec. The company offers polyisobutylene for use in the tire industry and for manufacturing functional components used in the automotive, oil & gas exploration and production, mechanical, construction, and cable engineering industries.
Also, in September 2021, Sibur (Russia) and Reliance (India) did a expansion in their joint venture known as Reliance Sibur Elastomers (India). This entity is involved in the production of butyl rubber and has its manufacturing facility in Jamnagar (India).
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=15506155
BASF (India) is one of the prominent players in the polyisobutylene market. It primarily serves various end-use industries such as transportation and food, among others. The company has adopted the strategies of mergers and acquisition between 2018 and 2022 to enhance its position in the polyisobutylene market. For instance, in August 2020, BASF India merged with BASF Performance Polyimides India to become a single entity for the production of all its products in India. This merger helped the company strengthen the company’s position and enhance access to key industries and markets.
Read Our Trending Press Release Below:
Medical Tubing Manufacturers
Pet Food Packaging Companies
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Media ContactCompany Name: MarketsandMarkets™ Research Private Ltd.Contact Person: Mr. Aashish MehraEmail: Send EmailPhone: 18886006441Address:630 Dundee Road Suite 430City: NorthbrookState: IL 60062Country: United StatesWebsite: https://www.marketsandmarkets.com/Market-Reports/polyisobutylene-market-15506155.html
