Polyisobutylene Global Market Report 2024

The polyisobutylene market size has grown strongly in recent years. It will grow from $2.49 billion in 2023 to $2.65 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth observed in the historical period can be attributed to various factors, including an increase in the use of polyisobutylene in lubricant and fuel additives, the expansion of construction and infrastructure projects, a rise in the demand for industrial rubber, increased applications in polymer modification, growth in the adhesives and sealants industry, and the implementation of stringent regulations in the chemical industry.

The polyisobutylene market size is expected to see strong growth in the next few years. It will grow to $3.4 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The anticipated growth in the forecast period can be attributed to advancements in polymer science, an increasing demand for biodegradable polymers, a focus on sustainable packaging solutions, a rise in the demand for synthetic rubber, and an increased demand for high-performance lubricants. Major trends expected in the forecast period include technological innovations in tire manufacturing, advancements in polymer modification techniques, the utilization of high molecular weight polyisobutylene (PIB), globalization and market expansion, and ongoing technological innovations in PIB production processes.

The polyisobutylene market is set to experience growth, driven by the increasing demand for tires and tubes. Tires and tubes are integral automotive components facilitating transportation, and polyisobutylene, a synthetic rubber, plays a crucial role in the production of tire inner tubes for various vehicles. Its ability to act as an effective barrier against the passage of oxygen makes it a preferred choice. With the rising demand for tires and tubeless tires, as indicated by the expected total tire shipments in the United States reaching 342.1 million units in 2022, up from 335.2 million units in 2021, the polyisobutylene market is witnessing considerable growth.

The polyisobutylene market is propelled by increasing demand in the construction industry. Polyisobutylene finds extensive use in anticorrosion coatings, pastes, glues, and coatings crucial for construction purposes. The construction industry's growth, exemplified by a 4% increase in the construction of housing units in 2021, totaling 1,337,800 new housing units, further contributes to the demand for polyisobutylene.

The polyisobutylene market experiences growth due to heightened demand for personal care products. These products, encompassing skincare, haircare, and oral care items, utilize polyisobutylene to create protective layers or films in various formulations. The increased consumer expenditure on personal care products, rising by 12.3 percent to $866 in 2022 from $771 in 2021, reflects the growing demand driving the polyisobutylene market.

A key trend in the polyisobutylene market is the focus on product innovations by major players. These innovations aim to introduce features such as high elongation qualities, elasticities, and faster processing times. For instance, BASF SE launched OPPANOL C in February 2021, a novel and easier-to-process polyisobutylene. This product's unique features, including one-inch chips for easy processing and reduced product development time, contribute to sustaining the market position.

Moreover, major companies in the polyisobutylene market are introducing new products, such as PIB R-01, to maintain their market standing. PIB R-01, launched by Kothari Petrochemicals in February 2021, is a high-quality polyisobutylene suitable for pest management products and tacky-stretchable glue. Specifically designed for use in pest and rodent trap glue pads, PIB R-01 combines immediate grip with remarkable stretchability to effectively address rodent and pest infestations in households and commercial establishments.

Major companies operating in the polyisobutylene market report are Badische Anilin und Soda Fabrik Societas Europaea, TPC Group, Lubrizol Corporation, INEOS Group Limited, Kothari Petrochemicals Limited, Braskem, ENEOS Corporation, Janex S.A., RB Products Inc., Chevron Corporation, Mayzo Inc., Reliance Industries Limited, Evonik Industries AG, KEMAT N.V, Santa Cruz Biotechnology Inc, Daelim Industrial Company Ltd, ExxonMobil, Lanxess, Dowpol Corporation, The Lubrizol Corporation, Infineum, Shandong Hongrui New Material Technology, Afton Chemical Corporation, Zhejiang Shunda New Material, SABIC, Kemipex, FERRO-PLAST S.r.l., SpecialChem, Chemspec Ltd., Jilin Petrochemical Company, Efremov Synthetic Rubber Enterprise Company, Naxant, Connect Chemicals, JXTG Nippon Oil & Energy Corporation.

Asia-Pacific was the largest region in the polyisobutylene market in 2023. Asia-Pacific is expected to be the fastest-growing region in the polyisobutylene market during the forecast period. The regions covered in the polyisobutylene market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the polyisobutylene market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary products of polyisobutylene include conventional PIB and highly reactive PIB. Highly reactive polyisobutylene is characterized by double bonds that are terminally positioned. It is further categorized based on its molecular weight into low, medium, and high molecular weight varieties. These different forms find applications in a range of industries, including tires and tubes, adhesives, sealants, lubricants, electrical insulation, and stretch wrap. Polyisobutylene is utilized by various end-users, including industrial, food, and other sectors.

The polyisobutylene market research report is one of a series of new reports that provides polyisobutylene market statistics, including polyisobutylene optical components industry global market size, regional shares, competitors with a polyisobutylene market share, detailed polyisobutylene market segments, market trends and opportunities, and any further data you may need to thrive in the polyisobutylene industry. This polyisobutylene market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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