Asia Pacific Polyisobutylene Market Analysis and Opportunities by 2028

The Asia Pacific polyisobutylene market is expected to reach US$ 1,108.9 million by 2028 from US$ 799.3 million in 2021. The market is estimated to grow at a CAGR of 4.8% from 2021–2028.

Demand for polyisobutylene in Asia Pacific market is expected to grow on account of presence of established leading automotive manufacturers such as Tesla Inc. and Ford Motors which are focused on research and development activities. Moreover, numerous cosmetics and personal care companies like Procter and Gamble, Maybelline, Colgate-Palmolive, Unilever, Avon, Johnson & Johnson present in the region are also expected to create lucrative opportunities for the manufacturers operating in the polyisobutylene market. Increasing investments by petrochemical giants in research and development activities for innovative eco-friendly products is likely to accelerate the market growth in the region. Additionally, increasing demand for packaging in the pharmaceutical industry to preserve the effectiveness of drugs is projected to augment market growth over the forecast period. Demand for polyisobutylene in the manufacturing hubs is expected witness a substantial growth owing to increasing investments by the petrochemical companies.

The COVID-19 is anticipated to cause a loss of more than 3 billion in the Asia Pacific region. The consequence and impact can be even worse and totally depends on the spread of the virus. The government of Asia Pacific is taking possible steps to reduce its effects by announcing lockdown, and thus, impact the revenue generated by the market. The Airports Council International (ACI) Asia-Pacific warned that the prolonged duration of the coronavirus (COVID-19) outbreak would drastically impact the region’s airports’ connectivity and economic sustainability, significantly restricting them from achieving previously forecasted growth prospects. Such closures are anticipated to negatively impact market growth in the coming period. Till now, China has the highest number of COVID -19 confirmed cases.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the polyisobutylene market. The Asia Pacific polyisobutylene market is expected to grow at a good CAGR during the forecast period.

 Asia Pacific Polyisobutylene Market Revenue and Forecast to 2028 (US$ Million)

Asia Pacific Polyisobutylene Market Segmentation          

By Molecular Weight

• Low
• Medium
• High

By Product

• Conventional PIB
• Highly Reactive PIB

By Application

• Tires
• Industrial Lubes and Lube Additives
• Fuel Additives
• Adhesives and Sealants
• Other Application

By End User

• Industrial
• Food
• Others

By Country

• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• Rest of Asia Pacific

Companies Mentioned

• BASF SE
• Braskem S.A.
• Daelim Industrial Petrochemical Division
• Ineos AG
• Infineum International Limited
• The Lubrizol Corporation
• TPC Group  
• Kothari Petrochemicals
• Sibur Holding PJSC

Asia Pacific Polyisobutylene Report Scope