This market research report includes a detailed segmentation of the global polyisobutylene (PIB) market by type (HR-PIB and enhanced PIB) and by applications (automotive, additives, and others). It also outlines the market shares for key regions like Europe, North America, APAC, and ROW. The leading vendors analyzed in this report are BASF, Chevron Oronite, Daelim, Ineos, Lubrizol, and TPC.
Technavio’s market research analysts estimate the global PIB market, to grow at a CAGR of 5% between 2016 and 2020. The growing applicability of PIB in the manufacture of gaskets, hoses, and sound damping products is expected to propel the growth of this market during the forecast period. Europe accounts for 40% of the total market share, due to the rising automobile manufacturing activity in countries like Germany and Italy.
The new market research report from Technavio provides a breakdown and analysis of the PIB segments by technology.
“One of the interesting trends in this market is the growing popularity of PIB in photovoltaic panel systems. PIB-based materials are widely used in the photovoltaic industry due to their low gas permeability, high level of flexibility, and weather resistance. These materials are used as a sealant to protect the electrical assembly in the package and moisture-sensitive PV cells from high temperature, humidity, and UV radiation,” says Chandrakumar BJG, Lead Analyst, Chemicals & Materials, Technavio Research.
The HR-PIB segment will be the largest segment in this market and will account for a market share of approximately 60% during the forecast period. The ability of HR-PIB to aid in the manufacture of light truck tires and related compounds like footwear and light-coloured mechanical rubber goods will result in the strong growth of this market segment during the predicted period.
The leading vendors in the global PIB market includes BASF, Chevron Oronite, Daelim, Ineos, Lubrizol, and TPC. The growth prospects of this market are highly dependent on the economic and industrial growths of different geographies. The global prices for PIB tend to be cyclical and volatile due to factors such as economic conditions, global political scenarios, and the extraction of natural gasses and crude oil. These factors negatively impact the market in terms of supply, which in turn affects the suppliers.
A more detailed analysis is available in the Technavio report, Global PIB Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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