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Polyisobutylene (PIB) - Global Strategic Business Report

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    Report

  • 358 Pages
  • March 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 1382356

Global Polyisobutylene (PIB) Market to Reach $3.7 Billion by 2030

The global market for Polyisobutylene (PIB) estimated at US$2.2 Billion in the year 2022, is projected to reach a revised size of US$3.7 Billion by 2030, growing at a CAGR of 6.3% over the analysis period 2022-2030. Conventional, one of the segments analyzed in the report, is projected to record 5.8% CAGR and reach US$1.9 Billion by the end of the analysis period. Growth in the Highly Reactive segment is estimated at 6.9% CAGR for the next 8-year period.

The U.S. Market is Estimated at $337.2 Million, While China is Forecast to Grow at 8.2% CAGR

The Polyisobutylene (PIB) market in the U.S. is estimated at US$337.2 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$894.2 Million by the year 2030 trailing a CAGR of 8.2% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.6% and 5.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.9% CAGR.

Select Competitors (Total 15 Featured)

  • BASF SE
  • The Lubrizol Corporation
  • Braskem SA
  • BASF PETRONAS Chemicals Sdn. Bhd.
  • Chevron Oronite Company LLC
  • TPC Group
  • Dowpol Chemical International Corporation
  • Zhejiang Shunda New Material Co., Ltd.
  • Rb Products, Inc.

Economic Outlook

The global economic outlook is improving, and growth recovery, albeit on the lower side, is expected for this year and the next. The United States although witnessing slowing GDP growth in response to tight monetary and financial conditions, has nevertheless overcome the recession threat. Easing of headline inflation in Euro area is helping boost real incomes and is contributing to pick-up in economic activity. China is expected to see strong increases in GDP in the coming year as the pandemic threat recedes and the government sheds its zero-COVID policy. With optimistic GDP projections, India remains on-course to emerge into a US trillion economy by 2030, surpassing Japan and Germany.

The upturn, however, remains fragile and a number of interlocking challenges continue to run in parallel, such as continued uncertainty around the war in Ukraine; slower than expected decline in global headline inflation; continuation of food and fuel inflation as a persistent economic problem for most developing countries; and still high retail inflation and its impact on consumer confidence and spending. Countries and their governments are showing signs of weathering these challenges, which helps lift market sentiments. As governments continue to combat inflation to get it down to more economically conformable levels by raising interest rates, new job creation will slowdown and impact economic activity. Stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.

Although corporate investments can likely be held back by inflation worries and weaker demand, rise of new technologies will reverse partially this prevailing investment sentiment. Rise of generative AI; applied AI; industrializing machine learning; next-generation software development; Web3; cloud and edge computing; quantum technologies; electrification and renewables and climate technologies beyond electrification and renewables, will open up the global investment landscape. The technologies hold the potential to drive sizeable incremental growth and value to global GDP in the coming years. The short-term is expected to be a mixed bag of challenges and opportunities for both consumers and investors alike. There is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

What`s New?

  • Special discussions on the global economic climate and market sentiment
  • Coverage on global competitiveness and key competitor percentage market shares
  • Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and trademarked research platform
  • Complimentary updates for one year
  • Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Frequently Asked Questions about the Polyisobutylene (PIB) Market

What is the estimated value of the Polyisobutylene (PIB) Market?

The Polyisobutylene (PIB) Market was estimated to be valued at $2.2 Billion in 2022.

What is the growth rate of the Polyisobutylene (PIB) Market?

The growth rate of the Polyisobutylene (PIB) Market is 6.7%, with an estimated value of $3.7 Billion by 2030.

What is the forecasted size of the Polyisobutylene (PIB) Market?

The Polyisobutylene (PIB) Market is estimated to be worth $3.7 Billion by 2030.

Who are the key companies in the Polyisobutylene (PIB) Market?

Key companies in the Polyisobutylene (PIB) Market include BASF SE, The Lubrizol Corporation, Braskem SA, BASF PETRONAS Chemicals Sdn. Bhd., Chevron Oronite Company LLC, TPC Group, Dowpol Chemical International Corporation, Zhejiang Shunda New Material Co., Ltd. and Rb Products, Inc..

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • COVID-19 Crisis Set to Derail Momentum in the Polyisobutylene Market
  • COVID Crisis Weakens Global Economic Environment, Triggering Negative Tide in GDP & Industrial Output Forecasts
  • World Economic Growth Projections (Real GDP, annual % Change) for 2019, 2020 & 2021
  • Industrial Activity to Remain Subdued in the Immediate Term, Inducing Weakness into PIB Market
  • Global PMI Index Points for the Years 2018, 2019 & 2020
  • Business Climate Indicator in the Euro Area for the Period June 2019 to May 2020
  • Polyisobutylene (PIB) - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Polyisobutylene (PIB): An Introduction
  • Chemical and Physical Properties of PIB
  • Types of Polyisobutylene
  • Major Grades of PIB Resins by Weight
  • Applications of PIB
  • Outlook
  • Asia-Pacific to Exhibit Faster Growth
  • Production Landscape
  • World Polyisobutylene Breakdown of Annual Production Capacity by Region: 2019
  • Competitive Landscape
  • Market Share of Leading PIB Producers: 2020E
  • Recent Industry Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Despite the Crushing Impact of COVID-19 Crisis, Automotive Industry Remains an Important Consumer of Polyisobutylene
  • World Automobile Production in Million Units: 2008-2022
  • Automobile Production % YoY Change Across Select Countries: 2020 Vs 2019
  • Automotive Tires Remains a Major Market for PIB
  • Composition of Passenger Car/Light Truck Tires by Weight
  • World Tires Market by Region: Percentage Breakdown of Revenues for China, Other Emerging Regions and Developed Regions for the Years 2019 & 2025
  • World Tires Market: Geographic Regions Ranked by Value CAGR for 2018-2025
  • Trend Towards Tubeless Tires Benefits PIB Demand
  • Unique Benefits of PIB Drive Use as Additives in Lubricants
  • Global Lubricant Additives Market Split by Automotive and Industrial Sectors: 2019
  • Global Lubricant Demand (In Million Metric Tons) for the Years 2015, 2017, 2019 and 2021
  • COVID-19 Weakens Demand for Lubricant Additives
  • Use of PIBs as a Substitute for Bright Stocks
  • PIB to Garner Significant Growth as an Edge Sealant in Solar Power
  • Global Solar Power Market: Solar PV Capacity (in GW) for the Years 2017, 2019, 2021 and 2023
  • Rise in Application of PIB as a Binding Agent in Plastic Explosives to Push Demand
  • Global Explosives Market (In Million Metric Tons) for the Years 2020, 2022, 2025 and 2027
  • PIB Makes Inroads into Medical Arena
  • Environment Issues Continue to Hinder Growth
4. GLOBAL MARKET PERSPECTIVE
  • TABLE 1: World Recent Past, Current & Future Analysis for Polyisobutylene (PIB) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 2: World Historic Review for Polyisobutylene (PIB) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 3: World 16-Year Perspective for Polyisobutylene (PIB) by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2014, 2023 & 2030
  • TABLE 4: World Recent Past, Current & Future Analysis for Conventional by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 5: World Historic Review for Conventional by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 6: World 16-Year Perspective for Conventional by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 7: World Recent Past, Current & Future Analysis for Highly Reactive by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 8: World Historic Review for Highly Reactive by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 9: World 16-Year Perspective for Highly Reactive by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 10: World Recent Past, Current & Future Analysis for High by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 11: World Historic Review for High by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 12: World 16-Year Perspective for High by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 13: World Recent Past, Current & Future Analysis for Medium by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 14: World Historic Review for Medium by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 15: World 16-Year Perspective for Medium by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 16: World Recent Past, Current & Future Analysis for Low by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 17: World Historic Review for Low by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 18: World 16-Year Perspective for Low by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 19: World Recent Past, Current & Future Analysis for Automotive by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 20: World Historic Review for Automotive by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 21: World 16-Year Perspective for Automotive by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 22: World Recent Past, Current & Future Analysis for Industrial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 23: World Historic Review for Industrial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 24: World 16-Year Perspective for Industrial by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 25: World Recent Past, Current & Future Analysis for Food by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 26: World Historic Review for Food by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 27: World 16-Year Perspective for Food by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 28: World Recent Past, Current & Future Analysis for Other End-Uses by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 29: World Historic Review for Other End-Uses by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 30: World 16-Year Perspective for Other End-Uses by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 31: World Polyisobutylene (PIB) Market Analysis of Annual Sales in US$ Thousand for Years 2014 through 2030
III. MARKET ANALYSIS
  • UNITED STATES
  • Polyisobutylene (PIB) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2023 (E)
  • CANADA
  • JAPAN
  • Polyisobutylene (PIB) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2023 (E)
  • CHINA
  • Polyisobutylene (PIB) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2023 (E)
  • EUROPE
  • Polyisobutylene (PIB) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2023 (E)
  • FRANCE
  • Polyisobutylene (PIB) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2023 (E)
  • GERMANY
  • Polyisobutylene (PIB) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2023 (E)
  • ITALY
  • UNITED KINGDOM
  • Polyisobutylene (PIB) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2023 (E)
  • SPAIN
  • RUSSIA
  • REST OF EUROPE
  • ASIA-PACIFIC
  • Polyisobutylene (PIB) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2023 (E)
  • AUSTRALIA
  • Polyisobutylene (PIB) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2023 (E)
  • INDIA
  • Polyisobutylene (PIB) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2023 (E)
  • SOUTH KOREA
  • REST OF ASIA-PACIFIC
  • LATIN AMERICA
  • Polyisobutylene (PIB) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2023 (E)
  • BRAZIL
  • MEXICO
  • REST OF LATIN AMERICA
  • MIDDLE EAST
  • Polyisobutylene (PIB) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2023 (E)
  • AFRICA
  • Polyisobutylene (PIB) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2023 (E)
IV. COMPETITION

Companies Mentioned

A selection of companies mentioned in this report includes:

  • BASF SE
  • The Lubrizol Corporation
  • Braskem SA
  • BASF PETRONAS Chemicals Sdn. Bhd.
  • Chevron Oronite Company LLC
  • TPC Group
  • Dowpol Chemical International Corporation
  • Zhejiang Shunda New Material Co., Ltd.
  • Rb Products, Inc.