Polyisobutylene market global opportunity analysis and forecast to 2025
Polyisobutylene is a synthetic rubber or elastomer. Polyisobutylene is the only rubber that is gas impermeable. In addition, the properties of polyisobutylene such as, thermal stability, flexibility, low moisture absorption, and high resistance to heat make it useful in a wide range of applications and in turn act as key growth drivers.
Asia-Pacific is estimated to witness high growth in the polyisobutylene market, owing to huge demand from automotive and adhesives & sealants industries. In addition, leading players of polyisobutylene market are investing in product innovation and development in this region. These factors are key growth drivers for polyisobutylene market in Asia-Pacific.
The medium molecular weight segment is estimated to witness highest growth over the forecast period. The growth is attributed to rising demand of lubricants which use medium molecular weight polyisobutylene. Hence the rising demand for lubricants, which is influenced by the blooming automotive and manufacturing industries, acts as a key growth driver for medium molecular weight polyisobutylene segment.
The polyisobutylene market is segmented on the basis of molecular weight, product type, and applications. By molecular weight, the market is segmented as, high molecular weight, medium molecular weight, and low molecular weight. By the product type, the market is segmented into conventional polyisobutylene and highly reactive polyisobutylene. Application-wise, the market is segmented as tire & tubes, automotive, lubricants, adhesives & sealants, and others.
On the basis of product type, highly reactive polyisobutylene is estimated to witness fastest growth during the forecast period. The growth is attributed to its properties such as, high purity, good quality, and narrow molecular weight distribution with low viscosity. In addition, it forms little residue on thermal decomposition.
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In the application segment, the demand for polyisobutylene is high in the adhesives & sealants segment. The growth is attributed to the increased use of polyisobutylene derivatives, which are used as additives in lubricating oils & fuels to reduce the mist.
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The key players in this market are adopting strategies such as, new product launch, expansions, and joint ventures as their key growth strategies.