Chemical & Explosive Industry Demands: Fuelling Polyisobutylene Market Growth
According to Goldstein Research, “Growing application of polyisobutylene as sealants is an emerging trend in the market. Polyisobutylene based materials are extensively used in the photovoltaic (PV) systems where it is used for assembling and packaging of moisture-sensitive PV cells. High flexibility, high stress and weather resistance and low gas permeability property of polyisobutylene material protects the PV cells from high temperatures, humidity, and UV radiation. Wide application of polyisobutylene in PV industry is expected to support the growth of global polyisobutylene market.”
Global Polyisobutylene Market Outlook 2024
Global polyisobutylene market is segmented on the basic product type, by application and by the end user. The automotive industry is the dominating end-user segment for polyisobutylene market. Rising lubricant and additives demand automotive maintenance is expected to positively influence the polyisobutylene market growth during the forecast period.
North America polyisobutylene market is projected to grow at a CAGR of 4.2% during the forecast period. Huge automobile customer base and growing use of lubricants and fuel additives and sealants in the transportation and construction industries are boosting the consumption rate of polyisobutylene in the region.
Variations in Crude Oil Prices: Challenge for polyisobutylene market
Price fluctuation of raw materials used for the manufacturing of polyisobutylene is one of the major restraining factors for the market growth. Isobutane is a major raw material for manufacturing of polyisobutylene which is mainly sourced from oil and gas industry. Instabilities in crude oil prices created a negative impact on the prices of the raw materials which is affecting import and export pricing of polyisobutylene and eventually impacting the market growth.
Global Polyisobutylene Market
This report contains a detailed overview of the global polyisobutylene market in terms of market segmentation by product type, by application and by the end user.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global polyisobutylene market also provides competitive outlook of some of the major players of global polyisobutylene market which includes profiling of companies such as BASF SE, Chevron Oronite, Daelim, Ineos Group, Lubrizol Corporation, TPC Group, DOW Corning, Infineum, Braskem, Exxon Mobil, Lanxess AG, Kothari Petrochemicals Limited, ENEOS and Shandong Hongrui Petrochemical Co. Ltd. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global polyisobutylene market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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