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Global Polyisobutylene (PIB) Market by Product Type, End-Use and Region (2017-2023): Projected to Register a CAGR of 5.33% - ResearchAndMarkets.com

17 December 2018

DUBLIN--(BUSINESS WIRE)-- The "Global Polyisobutylene (PIB) Market - by Product Type, End Use, Region - Market Size, Demand Forecasts, Company Profiles, Industry Trends and Updates (2017-2023)" report has been added to ResearchAndMarkets.com's offering.

The global polyisobutylene market was USD 2.16 billion in 2017 is projected to garner revenue of USD 2.95 billion by 2023 at a CAGR of 5.33% during the forecast period.

The market is mainly driven by rising product usage in tubeless tire manufacturing, increased R&D investments and technological advancements. All these will substantially create more growth opportunities for the polyisobutylene market share contributors owing to the market growth.

However, the major constraints are the increasing awareness towards protecting the environment accompanied by stringent government legislation.

Asia-Pacific led the global market size in 2017 due to the strong market prevalence of tire and tube manufacturing industries in China, India, Indonesia and Malaysia. It is considered to be the major factor contributing to the business growth of the APAC region.

North America and Europe follows the APAC region due to the increasing durable tires demand from consumers and massive automobile customer base, thus boosting the growth of the region. In addition to that, the upcoming US construction industry will boost the product demand for adhesives and sealant applications enabling the North American region to escalate its growth to a much larger extent.

Latin America, Middle East and Africa (LAMEA) region hold the least share compared to other regions and face a slow growth during the review period.

Industry Trends and Updates

  • Lanxess AG, a German-based chemical company, is set to invest a lump sum of 500 million in North America through 2022 with an intention to upgrade sites and expand capacity through Brownfield expansions.
  • BASF, a German chemical giant, is planning to invest USD 10 billion to build a new 'Verbund' site in Guangdong, China and is expected to own the entire site without a partner company. This new project is BASF's largest ever investment. The company plans to open its first plants in the year 2026.

Companies Profiled

  • Archema
  • BASF
  • Braskem
  • Chevron Oronite
  • Daelim
  • DOW Corning
  • HC Kothari Group
  • INEOS
  • Infineum
  • Lanxess AG
  • Lubrizol
  • Proteux Global Energy
  • Shandong Hongrui Petrochemical Co. Ltd.
  • Sumitomo Rubber Industries
  • TPC Group
  • and more...

Key Topics Covered

1. Research Methodology

2. Executive Summary

3. Market Overview

4. Market Dynamics

5. Global Polyisobutylene (PIB) Market Segmentation, Forecasts and Trends - by Product Type

6. Global Polyisobutylene (PIB) Market Segmentation, Forecasts and Trends - by End-Use

7. Global Polyisobutylene (PIB) Market Segmentation, Forecasts and Trends - by Region

8. Company Market Share Analysis

9. Company Profiles

10. Industry Structure

11. Global Polyisobutylene (PIB) Market - The Road Ahead

For more information about this report visit https://www.researchandmarkets.com/research/b36zfn/global?w=4