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Global Polyisobutylene (PIB) Industry

Global Polyisobutylene (PIB) Industry

  • April 2021
  • 358 pages
  • ID: 5069925
  • Format: PDF
  • Global Industry Analysts

Summary

Table of Contents

MARKET IMPACT SURVEY - COVID-19 & LOOMING RECESSION

Timely market intelligence is paramount in these uncertain times!

We launched an impact survey to update this project with timely insights during 2020. Update frequency will depend upon evolving market conditions and executive opinions. Our participants are executives driving strategy, marketing, sales and product management at competitive companies worldwide. All updates during the rest of the year are complimentary to clients!

Abstract:
- Manufacturing Slump Hits the Polyisobutylene Market Heavily. Revenues Plummet to $2Bnin 2020
- The global market for Polyisobutylene (PIB) is expected to witness erosion in market value by -8.1% to US$2 billion in the year 2020. Thereafter, the market is expected to recover and reach a revised size of US$3 billion trailing a CAGR of 5.5% over the analysis period 2020 to 2027. Manufacturing plants in most countries remained shut during the lockdown period. Post re-opening, full-blown economic recession, falling consumer confidence & spends is impeding a quick recovery. Sales of adhesives, glues, sealants, resins, lubricants, asphalt, stretch wrap, electrical insulation & cosmetics are declining. Polyisobutylene (PIB) in manufacturing these products is witnessing a parallel easing of demand.COVID-19 has rapidly emerged as a grave concern for the chemical industry that was already affected by the tariff war between China and the US in 2019. The pandemic and associated measures such as shutdowns of production units and travel restrictions have affected over 60% of chemical manufacturers globally. Surplus supply and weak demand in the oil industry are hampering consumption of oilfield chemicals. The corona virus outbreak is estimated to push down growth in chemical production with the outbreak likely to affect profitability, investments and expansion plans of chemical manufacturers. Supply chain in the chemical industry depends strongly on China that has been the epicenter of the pandemic and enforced strict countermeasures for restraining the outbreak. China is the leading manufacturing hub and a major source of various industrial and consumer products for international companies. China plays a critical role in global production of chemicals and occupies over 50% of the total capacity for various products including polyester, purified terephthalic acid, methyl tertiary butyl ether, methanol, and polyvinyl chloride. The shutdowns and restrictions on movement of goods are expected to hamper or delay delivery of these raw materials. In addition, these disruptions are likely to result in sharp hike in material costs and erode profit margins for chemical companies.
- Polyisobutylene (PIB) or polyisobutene, (C4H8)n, is a clear, synthetic hydrocarbon elastomer, produced by polymerization of isobutylene. PIB is one of the key raw materials used in the manufacture of a diverse range of products, including tires, lubricants, fuels, adhesives, sealants and others. Superior flexibility, thermal stability and impermeability characteristics make polyisobutylene a versatile material with several applications. Polyisobutylene properties include impermeability, ozone resistance, oxidation resistance, and enhanced stability. Additionally, it is weather-resistant, increasing its demand in manufacturing items such as pharmaceutical stoppers, hosepipes, construction sealants, and other mechanical items. Polyisobutylene is further classified into conventional PIB and Highly Reactive PIB (HR-PIB). Highly Reactive PIB (HR-PIB) differs chemically from conventional PIB. In HR-PIB, more than 80% of the double bonds are located at the terminal position in the PIB molecule, enabling it to react rapidly during the production of derivatives. The derivative products thus produced are used for improving the performance of fuel and lubricants. HR-PIB generates lesser amount of char during the manufacturing process. HR-PIB is highly preferred over conventional PIB in several applications. The end-use applications of HR-PIB include lube and gasoline additives.
- Primarily used in the manufacture of tires, demand for Polyisobutylene depends largely upon trends in the automotive industry. In the post COVID-19 period, demand for polyisobutylene will benefit from the expected surge in automobile sales and demand for tires from new cars and replacement market. The market will also benefit from increasing use of PIB in other key applications such as additives in lubricants; adhesives and sealants; and rising demand in the medical sector. Industrial oils based on PIB, for instance, contain lubricant additives that prevent rust and oxidation, and play the role of anti-wear additives and paint depressants. PIB’s physical properties, such as water resistance, viscosity, tackiness, and electrical resistance drive its use in industrial applications. In the additives sector, PIB is used for its chemical properties mainly in the manufacture of dispersants/detergents for fuels and lubricants. PIB’s features such as tackiness, resistance to moisture and adhesion drive its use as base polymer or modifier in the adhesives and sealants sector. Higher resistive characteristics and low absorptivity features of PIB have attracted its use in medical packaging space such as bottle seals and vials, over conventional products such as rubber.

- Select Competitors (Total 15 Featured) -
  • BASF SE
  • Chevron Oronite Company LLC
  • Daelim Industrial. Co. Ltd.
  • INEOS Group
  • Lubrizol Corporation
  • TPC Group Inc.

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