Global Polyisobutene Market Is Expected To Reach US$ 4.8 Billion By 2032
Polyisobutene Market Outlook
The global sales of Polyisobutene in 2021 was held at US$ 2.2 Billion. With 7.5%, the projected market growth during 2022-2032 is expected to be slightly higher than the historical growth. The global polyisobutene market is expected to reach US$ 4.8 Billion by 2032.
Conventional PIB is expected to be the highest revenue-generating segment, projected to grow at a CAGR of over 8.1% during 2022 – 2032.
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Market Segments Covered in Polyisobutene Market Analysis
By Product Type :
- Highly Reactive
By Molecular Weight :
By End-Use :
- Other End-Users
By Region :
- North America
- Latin America
Players in the market are constantly developing improved analytical solutions as well as extending their product offerings. Some of the key players operating in polyisobutene market include BASF SE, Daelim Co. Ltd., TPC Group, INEOS Group, Kothari Petrochemicals, Lubrizol Corporation, ExxonMobil Corporation, and Lanxess AG.
Some of the recent developments of key Polyisobutene providers are as follows:
- In August 2021, to better promote their brand in the Polyisobutene market, Chevron Oronite, a subsidiary of Chevron Corporation, sponsored and displayed Polyisobutene, dispersants, PIBSA, and other goods at the Specialty & Agro Chemicals America conference.
- In March 2021, the Pollution Control Board granted the right to Kothari Petrochemicals to operate for expansion. This consent from the government will enhance the production capacity of Polyisobutene. They are now India’s leading manufacturer of high-quality Polyisobutene.
- In January 2019, Saudi Aramco and Total Energies mutually agreed to collaborate with Daelim Co. Ltd. to develop a modern Polyisobutene plant, which is expected to commence their production in 2024. Owing to the facility’s location in Saudi Arabia, Daelim Co. Ltd. will be able to serve its clients throughout the Middle East, as well as the markets in Europe and Asia.
- In 2019, Lubrizol Corporation, alongside Daelim Industrial constructed a new Polyisobutene unit at Deer Park, Texas. As part of the company’s previously stated 10-year phased investment strategy, Lubrizol is continuing to update its additive infrastructure with the construction of this facility. Lubrizol’s global capabilities will be upgraded and enhanced as part of the strategy.