Polyisobutylene (PIB), also known as butyl rubber is a vinyl polymer made from the monomer isobutylene, by cationic vinyl polymerization. Globally, Polyisobutylene is regularly used in the transportation, food and construction end-use industries. Demand from end-use industries such as fuel additives, sealants, automotive and pharmaceutical are influencing the growth of the polyisobutylene market. Growing automotive industry and manufacturing of tires and tubes are the prime growth drivers of the market. Adhesives and Sealants applications are expected to report extensive demand for polyisobutylene in the near future. However, the presence of various alternatives such as styrene-butadiene rubber, nitrile rubber, and more may affect the market and its price trends.
Owing to the growing automobile production trend, demand for PIB is also anticipated to grow. The United States tire market is being dominated by the passenger car sector, which holds almost three-fourth of the total tire sales in the country. The huge manufacture and sales of automobile segment in North America has considerably contributed to the demand for tires in the US. Owing to the escalating tire demand, the market for PIB is also estimated to experience surge in future.
Continuous development and rapid adoption of automotive is improving end-user lifestyle dynamics, which is expected to positively influence the business growth by 2024. Adhesive applications will play a major role to gain utmost market share over the prediction period. The products are used mostly as an improver in lubricating oils & fuels to cut down the oil mist generation. Adhesives are also used to clean water-borne oil spills, and oil thickening agent. Increase practice of lubricant in automotive industry is projected to influence the overall market size of adhesives for the forecast period.
The global medical packaging industry is expected to boost the overall market owing to its excellent tensile strength, high chemical resistance, and low permeability to air, moisture and gas. Polyisobutylene is utilized in the production of medical packaging products such as saline bottles, injectable and seals. In food packaging industry canned food products have found acceptance globally as they have short cooking time, long shelf life, and easy storage. These promising features of canned food products are proving to be a major driver for the canned food market. The products available in the canned food category include Beans, Fish/Seafood, Fruit, Meat and Meat Product, Pasta, Ready Meals, Soup, Tomatoes and vegetables. PIB find its major application in canned food products. So the market for the same is estimated to experience a boom in the future.