Global Polyisobutylene-based Additives Market Size (2023-2030)

The Global  Polyisobutylene-based Additives Market was valued at USD 2.50 billion and is projected to reach a market size of USD 3.29 billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 4.01%. 

Market Overview:

The growth of the market can be majorly attributed to the use of polyisobutylene-based additives in various applications like adhesives and sealants, rubber automotive components, fuel additives, and lubricant additives. Tubeless tires have gained traction in the automotive industry owing to their easy replacement and fewer maintenance properties. Polyisobutylene-based additives act as a barrier to oxygen, making it a suitable material for the inner liner in tubeless tires. It exhibits low moisture, gas permeability, and excellent insulation for electric current properties. 

COVID-19 Impact on the Global Polyisobutylene based Additives Market:

The COVID-19 pandemic drove the focus on remote working culture and increased voice traffic, residential broadband, and mobile data network. The telecom industry responded positively due to optical fiber usage to provide better internet connections to ensure a favourable and positive user experience. The increase and growth of the telecommunication industry are anticipated to drive the demand for polyisobutylene-basedadditives as cable insulation material in electrical and electronics applications. Asia Pacific accounted for a remarkable revenue share in the market in 2020. This is dueto the high demand from key industry sectors, including automotive, construction, cosmetics, and aerospace, in emerging countries such as China and India. The COVID-19 pandemic overall impacted the manufacturing industries across the globe, which severely impacted the growth of polyisobutylene-basedadditives in some end-use sectors, like cosmetics, due to supply chain disturbances.

Market Drivers:

The increased population along with industrialization fuelling global market size:

With the increase in urban population along with industrialization, there has also been a significant shift in the mindset of people. Improved standard of living and increased disposable income among the middle-class population, along with people’s awareness of the maintenance and care industry have resulted in a remarkable increase in the demand for polyisobutylene-based additives augmenting the market growth.

The rising investment in the R&D sector is boosting the market size for polyisobutylene-based additives:

With the major players driven by profit and the rising focus of enterprises on expanding their product and service portfolios, large investments are made in the research and development of new methods and technologies to revolutionize the additivesmarket.

Shifting consumer preferences toward online sales mode is fuelling the global market growth for the Polyisobutylene-based Additives Market: 

Businesses are now starting to explore untapped online opportunities to increase their sales efficiency, taking advantage of the market dynamics. The shift in their business methodologies and strategies is opening new opportunities for several digital technologies to take over, along with the increase in the Polyisobutylene-based Additives market size.

Market Restraints: 

The stringent and strict regulations over the adoption of these additives may hamper the global market growth of these Polyisobutylene-based Additives market:

The strict regulatory framework of different governments over the adoption of these additives and the VOCs emitted during the production process may restrict the utilizationlimiting the market growth rate.

POLYISOBUTYLENE-BASED ADDITIVES MARKET REPORT COVERAGE:

This research report on the Global Polyisobutylene-based Additives Market has been segmented and sub-segmented based on Products, End-Use Sector, Regions, and Key Companies.

Polyisobutylene-based Additives Market – By Product

• High Molecular Weight
• Medium Molecular Weight
• Low Molecular Weight

Based on the product, the polyisobutylene-based additives market has been segmented into 3 segments – High Molecular Weight, Medium Molecular Weight, and Low Molecular Weight.

High molecular weight polyisobutylene-based additives dominatethe market and account for a revenue share of more than 65.0% in 2022.  It is a transparent solid rubber-like substance with a high viscosity and molecular weight. The high molecular weight aids polyisobutylene to retain its high elasticity and resilient properties and maintain its shape. Due to the above-mentioned factors, it is used across a wide range of applications, including stretch films, lubricants, and adhesives in the industrial, transportation, and food sectors.

Medium molecular weight polyisobutylene-based additivesare usedfor their tackiness and plasticizing properties. They are used for food and beverage packaging due to their hydrophobic stability, antibacterial performance, adhesive nature, and food safety properties and status.

Polyisobutylene-based Additives Market – By End-Use Sector

• Automotive
• Construction
• Cosmetics
• Aerospace
• Telecom/Media
• Healthcare
• Life Sciences
• Retail & Energy Sector

Based on the application, the Polyisobutylene-based Additives Market has been segmented into 8 segments – Automotive, Construction, Cosmetics, Aerospace, Telecom/Media, Healthcare, Life Sciences, Retail & Energy Sector.

The retail industry is estimated to grow at the highest CAGR during the forecast period.

The massive client base of the Telecom Industry is surging product demand. Also, the shift in the Healthcare and LifeScience sector to the analytics tool to better understand customers’ needs and improve healthcare services together accounts for the growth of demand for polyisobutylene-based additives in the market.

The construction segment dominates the market and accounts for a revenue share of more than 55.0% in 2022. Emerging market in the Asia Pacific regionowing to the rising industrial production is estimated to drive the demand for industrial oil products over the outlook period. This growing trend is estimated to bolster the demand for industrial additive lubricants in applications, such as hydraulics, industrial engines, centrifuges, compressors, and bearings.

Polyisobutylene based Additives Market – By Region.

• North America
• Europe
• Asia-Pacific
• South America
• Middle-East and Africa

Based on region, the Polyisobutylene-based Additives Market has been segmented into 5 major regions – North America, Europe, Asia-Pacific, South America, Middle-East, and Africa.

Asia Pacific dominates the market and accounts for a revenue share of more than 30.0% in 2022. The demand for polyisobutylene-basedadditives in the Asia Pacific region is primarily dawn by the high demand from major industries, including automotive, construction, cosmetics, and aerospace, in emerging countries such as China and India.Increasing automotive production in the Asia Pacific is anticipated to drive the regional market.

The increasing construction activities in Europe along with the necessary measures such as tax subsidies, incentives, and subsidies undertaken by several government authorities, are estimated to bolster the growth of the construction industry in the region. Polyisobutylene-basedadditives are used in formulations and showcase excellent chemical resistance to chemicals and reactions. Additionally, good aging properties, low out-gassing tendency, and moisture resistance make polyisobutylene-basedadditives suitablefor double-glazed windows. The increasing investment in the construction industry is anticipated to increase the demand for polyisobutylene-based additives in adhesive applications.

Recovering the building and construction industry in Central and South America is estimated to fuel the demand for polyisobutylene-based additives in applications, including the manufacturing of adhesives and sealants, and asphalt modifiers, used in various construction activities.

Polyisobutylene-based Additives Market – By Companies.

1. BASF SE
2. Daelim Co., Ltd.
3. TPC Group
4. INEOS
5. Kothari Petrochemicals
6. Braskem
7. ENEOS Corporation
8. Zhejiang Shunda New Material Co., Ltd.
9. Shandong Hongrui New Material Technology Co., Ltd.

The Polyisobutylene-based Additives Market is highly fragmented and extremely competitive with key players involved in R&D and constant technological innovation done by the vendors.