Global Polyisobutylene Market: Automotive Sector Foretold to Remain Dominant Application Segment through Forecast Period, reports TMR
A high degree of consolidation is witnessed in the global polyisobutylene market, with a handful of players controlling the overall business dynamics. Three leading players, vis-à-vis, Nizhekamskneftekhim, Lanxess, and ExxonMobil Corp., held a cumulative share of 65.5% of the overall market in 2014. A strong global presence has enabled these companies to maintain dominance in the market.
In order to seal their lead, these companies have adopted robust marketing strategies, foremost of them is patenting technologies. Going forwards, these enterprises are likely to focus aggressively on joint ventures, mergers and acquisitions, and strategic alliances to improve competitiveness, says Transparency Market Research (TMR), in a new study.
TMR also foretells, the global polyisobutylene market to reach US$5.3 bn by the end of 2023. The market is expected to reach this valuation at a CAGR of 5.40% between 2015 and 2023 and from an overall value of US$3.3 bn in 2014. Asia Pacific is currently in lead amongst the key regional segments of the global polyisobutylene market. In 2014, the region held over 55% of the overall demand witnessed by the global market. Based on application, the automotive sector is expected to remain dominant through the course of the forecast period. In 2014, the segment occupied the lead with a share of 73% in the overall market.
Rising Demand from Automotive Sector to Aid Market’s Growth
With the automotive industry at the fore, enterprises operating in the global polyisobutylene segment will gain from the rising demand for tires and tubes. “Among the diverse rubbers such as styrene-butadiene rubber (SBR), nitrile rubber, and polyisobutylene used to manufacture tubes, the demand for polyisobutylene is expected to pace higher,” said a lead TMR analyst. In addition polyisobutylene is used in manufacturing the inner liners of tires due to its impermeable nature. This feature is also considered expedient in producing tubeless tires, the expanding market for which is expected to translate into increased sales opportunities for the polyisobutylene market.
Besides this, owing to the use of polyisobutylene as base polymer and modifier in a wide range of adhesives and sealants will prove highly lucrative for the market. “Polyisobutylene is tacky and stable, due to which, it is increasingly used in adhesives and sealants – a trend which is expected to gain pace over the course of the forecast period,” observed the TMR report’s author. “Additionally, the leading enterprises are also expected to capitalize from the increasing use of polyisobutylene in medical packaging,” he added.
Regulations to Curb Repeated Incidents of Polyisobutylene Spills to Pose Threat
On the downside, the market could face challenge from concerns regarding negative environmental impacts of polyisobutylene spill. The repeated incidents of polyisobutylene spill pose danger to ecology, which is raising global concerns. Stringent regulations aimed at curbing such incidence are posing threat to the global polyisobutylene market. Nevertheless, the market sees scope in the development of recoverable and recyclable polyisobutylene. The innovation is expected to open new avenues for growth for the market. Besides this, the rising use of polyisobutylene as synthetic rubber due to its superlative impermeability is also expected to increase the market’ scope for expansion in the near future.
This study is based on a TMR report, titled “Polyisobutylene Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.”
The report segments the global polyisobutylene market as:
- Medium Molecular Weight Polyisobutylene
- Others (Chewing Gum, Sports Equipment, Medical Bottle Stoppers, etc.)
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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