The global polyisobutylene (PIB) market was valued at USD 1.87 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 4.0% from 2021 to 2028. This growth is primarily driven by the wide range of applications of polyisobutylene, including its use in adhesives, sealants, and rubber components in the automotive sector, as well as in fuel and lubricant additives. The rising popularity of tubeless tires in the automotive industry, due to their ease of replacement and lower maintenance requirements, has further supported this market expansion. Polyisobutylene plays a critical role in the production of tubeless tires, where it is used for the inner liners because of its excellent barrier properties, particularly its ability to resist oxygen permeability. This makes it an ideal material for this purpose. In addition, PIB is known for its low moisture and gas permeability, along with exceptional electrical insulation properties, which enhance its versatility across various industries.

In 2020, the Asia Pacific region held a significant share of the global polyisobutylene market, largely driven by the high demand for PIB from key industries such as automotive, construction, cosmetics, and aerospace in emerging economies like China and India. However, the global COVID-19 pandemic had a noticeable impact on manufacturing industries worldwide, causing disruptions to supply chains and negatively affecting the growth of polyisobutylene in certain end-use sectors. For example, the cosmetics industry faced challenges during the pandemic, which hindered demand for polyisobutylene in that sector. Despite these setbacks, the long-term outlook for the polyisobutylene market remains positive, supported by its diverse industrial applications and increasing demand in emerging markets.

Gather more insights about the market drivers, restrains and growth of the Polyisobutylene Market

Regional Insights

Asia Pacific Polyisobutylene Market Trends

Asia Pacific held a dominant position in the polyisobutylene market, accounting for more than 30.0% of the total revenue in 2020. The primary driver behind the demand for polyisobutylene in this region is the strong growth in key industries such as automotive, construction, cosmetics, and aerospace, especially in rapidly developing economies like China and India. A significant trend within the automotive sector in Asia Pacific is the shift towards tubeless tires, which are favored for their ease of replacement and reduced maintenance requirements. This transition is further fueled by the growing adoption of electric vehicles (EVs), where the demand for tubeless tires is expected to increase due to their ability to reduce maintenance costs and minimize drag. As automotive production continues to rise in the region, it is anticipated that the demand for polyisobutylene in automotive rubber components will also increase, further boosting market growth in Asia Pacific.

Europe Polyisobutylene Market Trends

In Europe, the construction industry is seeing substantial growth, driven by increased construction activities and supportive government measures, such as tax breaks, incentives, and subsidies, aimed at stimulating the sector. Polyisobutylene resins are widely used in sealant formulations, owing to their excellent chemical resistance. These resins also offer favorable properties like good aging characteristics, low out-gassing tendency, and moisture resistance, making polyisobutylene an ideal choice for hot-melt sealants, especially in applications such as double-glazed windows. As investments in the construction industry continue to rise in Europe, the demand for polyisobutylene in adhesive applications is expected to grow, further supporting market expansion.

Central and South America Polyisobutylene Market Trends

In Central and South America, the recovery of the building and construction industry is expected to drive the demand for polyisobutylene, particularly in applications such as adhesives, sealants, and asphalt modifiers, which are widely used in construction activities. The COVID-19 pandemic has emphasized the need for rapid construction of healthcare facilities, including hospitals, which has accelerated demand for polyisobutylene-based products in this sector. Moreover, government policies aimed at stimulating the housing sector's recovery are expected to positively influence future construction trends, further boosting the demand for polyisobutylene. As the construction industry in the region continues to recover, the demand for polyisobutylene in adhesive and sealant applications is expected to see significant growth.

North America America Polyisobutylene Market Trends

In North America, the construction industry is recovering as well, partly driven by the urgent need for healthcare infrastructure due to the COVID-19 pandemic. This shift has resulted in increased demand for polyisobutylene in the construction of hospitals and other essential facilities. National policies designed to support the recovery of the housing sector are also expected to have a positive impact on construction activities. As a result, the demand for polyisobutylene in applications such as adhesives and sealants is anticipated to rise, contributing to the growth of this segment in the North American market.

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Key Companies & Market Share Insights

The market has been characterized by the presence of key players, along with a few medium and small regional players. Established players such as BASF SE are launching their polyisobutylene products in new regions to strengthen their market position. For instance, in February 2021, BASF SE launched its polyisobutylene product under the brand name OPPANOL C in the North American market. OPPANOL C is produced as one-inch chips to reduce product development time and minimize manufacturing steps for customers by facilitating simpler and faster processing. Some prominent players in the global polyisobutylene market include:

• BASF SE
• Daelim Co., Ltd.
• TPC Group
• INEOS
• Kothari Petrochemicals
• Braskem
• ENEOS Corporation
• Zhejiang Shunda New Material Co., Ltd.
• Shandong Hongrui New Material Technology Co., Ltd.

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