North America Polyisobutylene Market is expected to grow at CAGR of 3.47% to reach $1216.78 million by 2024

North America market is the leading region in the manufacturing of Polyisobutylene.

HYDERABAD, TELANGANA, INDIA, June 13, 2018 /EINPresswire.com/ -- In the Report “North America Polyisobutylene Market: By Molecular Weight (High, Medium, Low), By Application (Additives, Automotive, and Others) & By Geography - (2018-2024)” published by IndustryARC, the market is driven by The increasing demand for lubricant oils for repairing and the maintenance of automobiles has fuelled the application of this copolymers in this segment, remarkably in recent times.

North America established with major share and growth in the Polyisobutylene Market

North America market is the leading region in the manufacturing of Polyisobutylene. The countries present in the region are highly developed with strong trade of relations existing between them. Among all the region U.S. is the main contributor, and accounting more than 60% of total trade share in the three countries. The U.S. market is expected to grow at a CAGR of 3.08%, to reach revenue of $882.17 million by 2024. Automotive, food processing and pharmaceuticals are the main Industries driving the U.S. market. Canada is the second leading market, growing at a CAGR of 3.21% to reach revenue of $183.73 million by 2024 from $149.12 million in 2017. Mexico market is witnessed to grow at a faster pace with a CAGR of 3.45% for the forecast of 2018-2024. Polyisobutylene is used in various applications including explosives, lube additives, automotive and industrial lubricating oils, thickeners and greases and many more. Polyisobutylene is witnessing a significant demand in additives.

Selected Molecular Weight done in the full Report:

Polyisobutylene is commercially available in three variants mainly that include high molecular weight products, medium molecular weight and low molecular weight. Among all the product types, medium molecular weight polyisobutylene is estimated to hold a major share in industries of automotive, and sealants due to its superior UV, oxidation and heat resistive properties. The medium molecular weight segment is expected to grow at a CAGR of 3.73% to reach revenue of $722.7 million in 2024. Rising interest for sealants and adhesives combined with expanding requirement in lubricating oils is expected to increase the market in the near future. The high molecular weight Polyisobutylene segment gained revenue of $299.59 million in 2017. The present market for highly reactive PIB is poised to reach $372 million by 2024, growing at a CAGR of 3.68% during the forecast period of 2017-2024. Low molecular weight PIB has applications in various fields such as additive for lubricants, raw materials for cling film and electric wire coatings.

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Excerpts on Market Growth Factors

Automotive industry combined with expanding interest for substitution tires and tubes is expected to drive demand for PIB during the forecast period.
Growing demand for packaging in the pharmaceutical industry in order to preserve the efficiency of medicines is expected to augment PIB market growth over the forecast period.
Canned food products have found acceptance globally due to its long shelf life and easy storage term. Hence, PIB finds its major applications in canned food products; so the market is set to experience a successful growth in the future.

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Key players of the Polyisobutylene Market

BASF SE and The Lubrizol Corporation are the leading suppliers in PIB market contributing approximately 17% and 15% respectively of the overall revenue, followed by Infineum, PPG Industries, Petronas Chemical Group Berhad and others. BASF SE holds products such as PIB and OPPANOL. Infineum and Lubrizol Corporation hold Poly Isobutylene polymer (PIB), used in applications such as caulks, sealants, adhesives, packaging, greases and emulsifiers. The companies are expanding Conventional PIB capacity for long term oriented sustainable growth with high quality products for a broad range of applications.

Polyisobutylene Market report is segmented as below

A.Polyisobutylene Market - By Molecular Weight

1.High Molecular Weight
2.Medium Molecular Weight
3.Low Molecular Weight

B.Polyisobutylene Market - By Application

1.Automotive
2.Additives
3.Others

C.Polyisobutylene Market by Geography (covers 10+ countries)
D.Polyisobutylene Entropy Market


Manufacturer Citied / Interviewed

1.Exxon Mobil Corporation
2.Lanxess Ag
3.TPC Group Inc
4.Evonik Industries Ag
5.Braskem Qpar S.A.
6.Chevron Corporation
7.Ineos Group Limited
8.Kothari Petrochemicals
9.Company 9
10.Company 10
11.Company 11


Related Report:

A.Refinery Process Additives Market

https://industryarc.com/Report/11667/refinery-process-additives-market.html

B.Paper Coating Additives Market

https://industryarc.com/Report/7521/paper-coating-additives-market.html


What can you expect from the report?
The Polyisobutylene Market Report is Prepared with the Main Agenda to Cover the following 20 points:

1. Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis


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