Global Polyisobutylene (PIB) Market Size to Reach USD 5.27 Billion in 2032 | Emergen Research

Increasing focus on meeting specific adhesion and formulation requirements in end-use industries is a major factor driving the market revenue growth

Vancouver, Sept. 27, 2023 (GLOBE NEWSWIRE) — The global Polyisobutylene (PIB) market size was USD 2.90 Billion in 2022 and is expected to register a revenue CAGR of 6.1% during the forecast period, according to the latest analysis by Emergen Research. Sustainable and environmental considerations play a major role in driving market revenue growth. Highly reactive PIB, which its low molecular weight and high reactivity, is gaining prominence in the adhesives and sealants industry.

It is used in Pressure-Sensitive Adhesives (PSAs) and other adhesive formulations for applications such as tapes, labels, and graphics. Pharmaceutical and healthcare applications are major factors contributing to the market revenue growth. PIBs biocompatibility and low toxicity are leading to increased use in pharmaceutical and healthcare applications. It is used in medical adhesives, drug delivery systems, and other medical devices.

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Technological challenges and regulatory compliance are major factors restraining market revenue growth. The formulation and processing of PIBs can be complex, which can pose challenges for certain industries and applications. In addition, integration of PIBs into existing manufacturing processes and formulations can require adjustments and additional training.

Scope of Research

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Major Companies and Competitive Landscape

The global Polyisobutylene (PIB) market is fairly fragmented, with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective PIB products. Some major players included in the global Polyisobutylene (PIB) market report are:

• BASF SE
• Daelim Co., Ltd.
• TPC Group
• Braskem
• Evonik Oxeno
• Chevron Oronite
• YPF
• KEMAT Polybutylenes
• Kothari Petrochemicals Limited
• Zhejiang Shunda New Material Co., Ltd.

Strategic Development

• On 1 September 2020, Braskem, which is a Brazil-based leading manufacturer of chemical and petrochemical-based products announced a strategic partnership with Chemetry, which is a U.S.-based environmental technology services company for the chemical industry announced investing USD 18 million construct plant to produce Ethylene Dichloride (EDC) and caustic soda. In addition, the new plant will use Chemetry’s eShuttleT technology, which allows for the synthesis of very pure EDC without the creation of chlorine gas. The primary advantages are significant reductions in energy usage and manufacturing costs, as well as the ability to expand operating capacity within the existing physical area.

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Some Key Highlights From the Report

• The highly reactive PIB segment accounted for a moderately large revenue share in 2022. Highly reactive PIB is characterized by its relatively low molecular weight and high reactivity. This is a major factor driving revenue growth of this segment. Highly reactive PIB is widely used in adhesives and sealants industry due to its excellent tackiness and adhesion properties. It is particularly valuable in the formulation of Pressure-Sensitive Adhesives (PSAs) used in applications such as tapes, labels, and graphics.
• The fuel additives segment accounted for a moderately large revenue share in 2022. Improved fuel efficiency and cleaner combustion are major factors driving revenue growth of this segment. PIB is used as a viscosity modifier in lubricating oils and fuel additives. PIB enhances the flow properties and reduces viscosity in these fluids. In gasoline and diesel engines, this leads to reduced friction and improved fuel efficiency. PIB can also contribute to cleaner combustion by preventing carbon deposits and gum formation in the engine’s fuel system and combustion chamber. This leads to reduced emissions and better engine performance.
• The food segment accounted for a moderately large revenue share in 2022. Rising demand from food packaging companies and rising applications in confectionary and edible coatings are major factors driving revenue growth of this segment. PIB is used in edible coatings and films applied to fruits and vegetables to extend their shelf life and maintain their freshness. These coatings act as barriers against moisture loss and microbial contamination.
• The market in Europe accounted for a moderately large revenue share in 2022. Rising demand for high-performance adhesives and sealants in end-use industries and rising construction and retrofitting activities in various countries in this region are major factors driving the market revenue growth. PIB offers several benefits to the adhesives industry. For instance, PIB is highly resistant to moisture and provides water-repellent properties to adhesives. It helps prevent water penetration and maintains adhesive performance in extreme conditions. In automotive and industrial applications, PIB can act as a vibration-damping agent, reducing noise and vibration in bonded components.

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Emergen Research has segmented the global Polyisobutylene (PIB) market on the basis of product type, application, end-use industry, and region:

• Product Type Outlook (Revenue, USD Billion; 2019-2032)
  • Conventional PIB
  • Highly Reactive PIB
  • Others

• Application Outlook (Revenue, USD Billion; 2019-2032)

• • Lube Additives
  • Fuel Additives
  • Industrial Lubes & Others
  • Others

• End-Use Industry Outlook (Revenue, USD Billion; 2019-2032)

• • Transportation
  • Industrial
  • Food
  • Others
• Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. U.K.
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of MEA

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