Polyisobutylene Market Size
Market Outlook:
Base Year Value (2023)
USD 2.13 Billion
CAGR (2024-2032)
4.1%
Forecast Year Value (2032)
USD 3.06 Billion
Historical Data Period
2019-2023
Largest Region
Asia Pacific
Forecast Period
2024-2032
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Market Dynamics:
Growth Drivers & Opportunity:The growing demand for polyisobutylene in the automotive industry due to its high resistance to chemicals and extreme weather conditions is a major growth driver for the polyisobutylene market. Additionally, the increasing use of polyisobutylene in the manufacturing of tires for improved fuel efficiency and performance is further propelling market growth. Moreover, the expanding construction industry and the rising demand for polyisobutylene in sealants and adhesives are also contributing to the growth of the market.
Industry
Report Scope
| Report Coverage | Details |
|---|---|
| Segments Covered | Product, Application |
| Regions Covered | • North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA) |
| Company Profiled | BASF SE, Daelim, TPC Group, INEOS, Kothari Petrochemicals, Braskem, ENEOS, Zhejiang Shunda New Material, Shandong Hongrui New Material Technology |
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Volatility in raw material prices, specifically in the petroleum industry, is A major obstacle for the polyisobutylene market. Fluctuations in crude oil prices directly impact the production cost of polyisobutylene, thereby affecting the market growth. Furthermore, stringent environmental regulations and concerns regarding the use of polyisobutylene due to its non-biodegradable nature are also restraining factors for the market.
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