North America Polyisobutylene Market Growth and Forecast by 2028
North America Polyisobutylene Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Molecular Weight (Low, Medium, and High), Product (Conventional PIB, and Highly Reactive PIB), Application (Tires, Industrial Lubes and Lube Additives, Fuel Additives, Adhesives and Sealants, and Others), End User Industry (Industrial, Food, and Others)
- Status : Published
- Report Code : TIPRE00014207
- Category : Chemicals and Materials
- No. of Pages : 126
- Available Report Formats :
- Last update date : February 12, 2022
2021 Market Size
US$ 943.2 Mn
Base year value
2028 Forecast
US$ 1,290.0 Mn
Projected by 2028
CAGR 2022-2028
4.6 %
Growth rate
Addressable Market
US$ 7,935.68 Mn
(2022-2028)
The North America polyisobutylene market is expected to reach US$ 1,290.0 million by 2028 from US$ 943.2 million in 2021. The market is estimated to grow at a CAGR of 4.6% from 2021 to 2028.
The automotive industry has been the key market for several types of fuel additives for many years. The share for automobiles has continuously been higher than that of the other fuel additives market segment due to the lack of efficient fossil fuel alternatives and an increasing middle-class economy. The relative importance of aviation for fuel additives has boosted in recent years, ultimately mounting the demand for polyisobutylene. Moreover, increasing use of polyisobutylene-based butyl rubber in developing automobile parts including gaskets, hosepipes, and window strips due to superior thermal stability, flexibility, and improved oxidation resistance is expected to fuel the demand in automotive sector over the forecast period.
The U.S has the highest number of confirmed cases of coronavirus, as, compared to Canada and Mexico. This is likely to impact the chemical and materials industry in the region as, due to the COVID-19 outbreak, the supply chain is likely to get affected. In addition, the overall manufacturing processes, research, and development activities will also impact market growth.
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 North America polyisobutylene market is expected to grow at a good CAGR during the forecast period.
North America Polyisobutylene Market Revenue and Forecast to 2028 (US$ Million)
North America 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
- North America
- US
- Canada
- Mexico
Companies Mentioned
- BASF SE
- Braskem S.A.
- Daelim Industrial Petrochemical Division
- Ineos AG
- Infineum International Limited
- The Lubrizol Corporation
- TPC Group
North America Polyisobutylene Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 943.2 Million |
| Market Size by 2028 | US$ 1,290.0 Million |
| CAGR (2021 - 2028) | 4.6% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Molecular Weight
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
- Comprehensive Market Sizing and Forecast Analysis
- Detailed Segmentation Analysis
- In-Depth Market Dynamics Assessment
- Regional and Country-Level Insights
- Competitive Landscape and Company Benchmarking
- Strategic Business Intelligence
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