Polyisobutylene Market Key Players: BASF SE, Daelim Co., Ltd., TPC Group, and INEOS

 Polyisobutylene Industry Overview

The global polyisobutylene market size is expected to reach USD 2.53 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.0% from 2021 to 2028. The market is anticipated to expand in the years to come due to the growth of the automotive, electrical and electronics, food packaging, and building and construction industries across the globe.

 

Polyisobutylene exhibits low gas and moisture permeability, high thickening efficiency, good shear stability, good electrical insulation, adhesive, and tackifier properties, and resilience to UV. These properties make it suitable to manufacture filler compounds, adhesives, and sealants, tubeless tire inner lining, lubricants additives, fuel additives, wrap films, and cable insulation materials.

 

Major players are entering into partnerships to increase the polyisobutylene manufacturing capacity. For instance, in January 2019, Saudi Aramco and TotalEnergies entered into an agreement with Daelim Co., Ltd. to build a new polyisobutylene plant, which is expected to come on-stream in 2024. The facility will be located in Saudi Arabia and will give Daelim Co., Ltd. the opportunity to service customers in the Middle East and markets across Europe and Asia.

Polyisobutylene manufacturers are tapping the political scenarios in the region and engaging with governments to strengthen their foothold in the market. For instance, in March 2021, Kothari Petrochemicals received consent to operate for expansion from the Pollution Control Board in India. This expansion consent obtained from the government agency is expected to increase the production capacity of polybutylene.

Key polyisobutylene manufacturers are carrying out different marketing initiatives to increase their brand presence in the market. For instance, in August 2021, Chevron Oronite, a part of Chevron Corporation, sponsored and exhibited their products, including polyisobutylene, dispersants, PIBSA, and other products at the Specialty & Agro Chemicals America conference. Such initiatives are expected to result in promoting their brand in the market for polyisobutylene.


Polyisobutylene Market Segmentation

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

Based on the Product Insights, the market is segmented into High Molecular Weight, Medium Molecular Weight, and Low Molecular Weight.

  • 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.

 

  • Medium molecular weight polyisobutylene is used in adhesives for its tackiness and plasticizing properties. PIB blended with low-density polyethylene improves the tear resistance, low-temperature flexibility, and clinging property of the film. Medium molecular weight polyisobutylene is used for food and beverage packaging due to its hydrophobic stability, antibacterial performance, adhesive nature, and food safety status.

 

Based on the Application Insights, the market is segmented into Adhesives & Sealants, Automotive Rubber Components, Fuel Additives, Lubricant Additives, and Others.

  • Lubricant additivesdominated 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.

 

  • The automobile industry is witnessing rising demand for passenger and commercial vehicles for private and public transportations due to the growing population migration towards urban areas. Moreover, the growing e-commerceand logistics industry globally is expected to drive the consumption of commercial vehicles.

 

Polyisobutylene Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 

Key Companies & Market Share Insights

The market has been characterized by the presence of key players, along with a few medium and small regional players. Established players such as BASF SE are launching their polyisobutylene products in new regions to strengthen their market position. For instance, in February 2021, BASF SE launched its polyisobutylene product under the brand name OPPANOL C in the North American market. OPPANOL C is produced as one-inch chips to reduce product development time and minimize manufacturing steps for customers by facilitating simpler and faster processing. Some prominent players in the global polyisobutylene market include:

  • 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.

 

Order a free sample PDF of the Polyisobutylene Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

Contact:

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Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

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