North America Polyisobutylene Market is expected to grow at CAGR of 3.47% to reach $1216.78 million by 2024.
In the Report “North America Polyisobutylene Market: By Molecular Weight (High, Medium, Low), By Application (Additives, Automotive, and Others) & By Geography - (2018-2024)” published by IndustryARC, the market is driven by The increasing demand for lubricant oils for repairing and the maintenance of automobiles has fuelled the application of this copolymers in this segment, remarkably in recent times.
North America established with major share and growth in the Polyisobutylene Market
North America market is the leading region in the manufacturing of Polyisobutylene. The countries present in the region are highly developed with a strong trade of relations existing between them. Among all the region U.S. is the main contributor and accounting more than 60% of total trade share in the three countries. The U.S. market is expected to grow at a CAGR of 3.08%, to reach revenue of $882.17 million by 2024. Automotive, food processing and pharmaceuticals are the main Industries driving the U.S. market. Canada is the second leading market, growing at a CAGR of 3.21% to reach revenue of $183.73 million by 2024 from $149.12 million in 2017. Mexico market is witnessed to grow at a faster pace with a CAGR of 3.45% for the forecast of 2018-2024. Polyisobutylene is used in various applications including explosives, lube additives, automotive and industrial lubricating oils, thickeners and greases and many more. Polyisobutylene is witnessing a significant demand in additives.
Polyisobutylene Market Molecular Weight done in the full Report:
Polyisobutylene is commercially available in three variants mainly that include high molecular weight products, medium molecular weight, and low molecular weight. Among all the product types, medium molecular weight polyisobutylene is estimated to hold a major share in industries of automotive, and sealants due to its superior UV, oxidation, and heat resistive properties. The medium molecular weight segment is expected to grow at a CAGR of 3.73% to reach revenue of $722.7 million in 2024. Rising interest for sealants and adhesives combined with expanding requirement in lubricating oils is expected to increase the market in the near future. The high molecular weight Polyisobutylene segment gained revenue of $299.59 million in 2017. The present market for highly reactive PIB is poised to reach $372 million by 2024, growing at a CAGR of 3.68% during the forecast period of 2017-2024. Low molecular weight PIB has applications in various fields such as an additive for lubricants, raw materials for cling film and electric wire coatings. The low molecular weight PIB is poised to grow at a CAGR of 1.44% to reach revenue of $121.92 million by 2024. Among various applications, additives are estimated to hold the major share, followed by others and automotive in PIB application sectors.
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Excerpts on Polyisobutylene Market Growth Factors
Automotive industry combined with expanding interest for substitution tires and tubes is expected to drive demand for PIB during the forecast period.
Growing demand for packaging in the pharmaceutical industry in order to preserve the efficiency of medicines is expected to augment PIB market growth over the forecast period.
Canned food products have found acceptance globally due to its long shelf life and easy storage term. Hence, PIB finds its major applications in canned food products; so the market is set to experience a successful growth in the future.
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Key players of the Polyisobutylene Market
BASF SE and The Lubrizol Corporation are the leading suppliers in PIB market contributing approximately 17% and 15% respectively of the overall revenue, followed by Infineum, PPG Industries, Petronas Chemical Group Berhad and others. BASF SE holds products such as PIB and OPPANOL. Infineum and Lubrizol Corporation hold Poly Isobutylene polymer (PIB), used in applications such as caulks, sealants, adhesives, packaging, greases, and emulsifiers. The companies are expanding Conventional PIB capacity for long-term oriented sustainable growth with high-quality products for a broad range of applications.
Polyisobutylene Market report is segmented as below
A.Polyisobutylene Market - By Molecular Weight
1.High Molecular Weight
2.Medium Molecular Weight
3.Low Molecular Weight
B.Polyisobutylene Market - By Application
1.Automotive
2.Additives
3.Others
C.Polyisobutylene Market by Geography (covers 10+ countries)
D.Polyisobutylene Entropy Market
E.Manufacturer Citied / Interviewed
1.Exxon Mobil Corporation
2.Lanxess Ag
3.TPC Group Inc
4.Evonik Industries Ag
5.Braskem Qpar S.A.
6.Chevron Corporation
7.Ineos Group Limited
8.Kothari Petrochemicals
9.Company 10+
Related Report:
A.Refinery Process Additives Market
B.Paper Coating Additives Market
What can you expect from the report?
The Polyisobutylene Market Report is Prepared with the Main Agenda to Cover the following 20 points:
1.Market Size by Product Categories
2.Market trends
3.Manufacturer Landscape
4.Distributor Landscape
5.Pricing Analysis
6.Top 10 End-user Analysis
7.Product Benchmarking
8.Product Developments
9.Mergers & Acquisition Analysis
10.Patent Analysis
11.Demand Analysis (By Revenue & Volume)
12.Country-level Analysis (15+)
13.Competitor Analysis
14.Market Shares Analysis
15.Value Chain Analysis
16.Supply Chain Analysis
17.Strategic Analysis
18.Current & Future Market Landscape Analysis
19.Opportunity Analysis
20.Revenue and Volume Analysis
Frequently Asked Questions:
Q. Does IndustryARC publish country or application based reports in Polyisobutylene Market segment?
Response: Yes, we do have separate reports as mentioned below:
1.America Polyisobutylene Market Report (2018-2023)
2.Europe Polyisobutylene Market Analysis (2018-2023)
3.Asia-Pacific Polyisobutylene Market Size (2018-2023)
4.Molecular Weight Polyisobutylene Market Share (2018-2023)
5.Application Polyisobutylene Market Trends (2018-2023)
Q. Does IndustryARC provide customized reports and charge additionally for limited customization?
Response: Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization:
1. Increase the level of data in the application or end-user industry.
2. Increase the number of countries in geography chapter.
3. Find out market shares for other smaller companies or companies which are of interest to you.
4. Company profiles can be requested based on your interests.
5. Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end-use segment.
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