The global polyisobutylene market size was valued at USD 1.87 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.0% from 2021 to 2028. The growth of the market can be attributed to the use of polyisobutylene in various applications like adhesives and sealants, rubber automotive components, fuel additives, and lubricant additives. The tubeless tires have gained popularity in the automotive industry due to easy replacement and less maintenance. Polyisobutylene acts as a barrier to oxygen, making it a suitable material for the inner liner in tubeless tires. Polyisobutylene (PIB) exhibits low moisture and gas permeability and excellent insulation for electric current. 

Asia Pacific accounted for a significant revenue share in the market in 2020. This is driven by the high demand from key industries, including automotive, construction, cosmetics, and aerospace, in emerging economies such as China and India. The COVID-19 pandemic impacted the manufacturing industries across the globe, which negatively impacted the growth of polyisobutylene in some end-use sectors, like cosmetics, due to supply chain disruptions.

Gather more insights about the market drivers, restrains and growth of the Polyisobutylene Market

Detailed Segmentation:

Product Insights

High molecular weight polyisobutylene dominated the market and accounted for a revenue share of more than 65.0% in 2020. Polyisobutylene is segmented into high, medium, and low molecular weight based on the molecular weight range. High molecular weight polyisobutylene is a transparent solid rubber-like substance with ultra-high viscosity and molecular weight. The high molecular weight helps polyisobutylene to retain its high elasticity and resilient properties. Due to the above-mentioned properties, it is used in a wide range of applications, including stretch films, lubricants, and adhesives in the industrial, transportation, and food sectors. 

Application Insights

Lubricant additives dominated the market and accounted for a revenue share of more than 55.0% in 2020. Emerging market in Asia Pacific due to the increasing industrial production is anticipated to drive the demand for industrial oil products over the forecast period. The chemical and mining industries are projected to be among the largest consumers of industrial lubricants. This growing trend is expected to boost the demand for industrial lubricants in applications, such as hydraulics, industrial engines, centrifuges, compressors, and bearings.

Regional Insights

Asia Pacific dominated the market and accounted for a revenue share of more than 30.0% in 2020. The demand for polyisobutylene in Asia Pacific is primarily driven by the high demand from key industries, including automotive, construction, cosmetics, and aerospace, in emerging economies such as China and India. Major tire manufacturers in Asia Pacific are moving towards developing tubeless tires for easy replacement. In addition, the growing trend of shifting towards electric vehicles is expected to drive the demand for tubeless tires to reduce maintenance and drag. Increasing automotive production in Asia Pacific is expected to drive the automotive rubber components application segment in the market.

Browse through Grand View Research's Plastics, Polymers Resins Industry Research Reports.

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Key Polyisobutylene Companies:

• BASF SE
• Daelim Co., Ltd.
• TPC Group
• INEOS
• Kothari Petrochemicals
• Braskem
• ENEOS Corporation
• Zhejiang Shunda New Material Co., Ltd.
• Shandong Hongrui New Material Technology Co., Ltd.

Polyisobutylene Market Segmentation

Grand View Research has segmented the global polyisobutylene market on the basis of product, application, and region:

Polyisobutylene Product Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)

• High Molecular Weight
• Medium Molecular Weight
• Low Molecular Weight

Polyisobutylene Application Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)

• Adhesives Sealants
• Automotive Rubber Components
• Fuel Additives
• Lubricant Additives
• Others

Polyisobutylene Regional Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Italy
  • France
• Asia Pacific
  • China
  • India
• Central South America
  • Brazil
• Middle East Africa

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