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According to Goldstein Research, global polyisobutylene market is expected to reach USD 4.51 billion by 2024, growing at a CAGR of 4.80% over the forecast period 2016-2024. The strong application of polyisobutylene in the automotive industry for manufacturing of tires and tubes and increasing application as the binding agent in plastic explosives by explosives industry is accelerating the growth of polyisobutylene market growth. Global polyisobutylene market segmentation has been done on the basis of product type, applications, end user and geography. Based on the end user, an automotive sector dominated the market with a market share of over 70% in 2016 owing to rising number of automotive which is fuelling the demand for polyisobutylene tire tubes, hoses, and gaskets.
Global polyisobutylene market is largely dominated by Asia Pacific which is projected to witness a robust growth with a CAGR of 4.0% over the forecast period. On the other hand, Europe is the fastest growing region for market and is anticipated to grow at a CAGR of 4.12% during the forecast period.
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Market Segmentation
On the basis of our in-depth analysis, Global Polyisobutylene Market can be segmented as follows:
Based on Product Type
• Low Molecular Weight Polyisobutylene
• Medium Molecular Weight Polyisobutylene
• High Molecular Weight Polyisobutylene
Based on Applications
• Fuel & Lubricant Additives
• Adhesive & Sealants
• Plastic & Elastomer Modifier
• Tires & Tubes
• Others (Chewing Gum, Detergents, and Dispersants)
Based on End-User
• Explosive Industry
• Sports Industry
• Construction Industry
• Chemical Industry
• Pharmaceutical Industry
• Automotive Industry
By Region
• North America
• Europe
• Middle East And Africa
• Latin America
• Asia Pacific
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“Global Polyisobutylene Market Outlook 2024” contains a detailed overview of the global polyisobutylene market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by product type, applications, end user and geography.
The Global Polyisobutylene Market Analysis Report highlights the competitive outlook of major global players that includes the business strategies, product portfolio, revenue distribution, financial analysis, R&D activities, and investments. The in-depth analysis of polyisobutylene market report will help the clients to assess their business strategies as per the competitive environment in the market space.
Major players of the global polyisobutylene market discussed in the report are BASF SE, Chevron Oronite, Daelim, Ineos Group, Lubrizol Corporation, TPC Group, DOW Corning, Infineum, Braskem, Exxon Mobil, Lanxess AG, Kothari Petrochemicals Limited, ENEOS, ShanndongHongrui Petrochemical Co. Ltd., etc.
Further, Global Polyisobutylene Market Report encompasses the major trends & growth opportunities, market dynamics & polyisobutylene market forecast for 2016-2024. The Polyisobutylene Market outlook also comprises of key challenges for the market players, risk analysis, SWOT Analysis, BPS analysis, and Market Attractiveness. The report also includes the expert analysis which provides the complete overview of the market post analysis of the economic, political, environmental & social factors of each region and country.
Global Polyisobutylene Market is bolstering on the back of advancement in following markets:
Adhesives and sealants market:
The application of Adhesives & sealants in fast-growing automotive, packaging & construction industries is majorly driving the growth of the global Adhesives and sealants market. The report published by Goldstein Research on global Adhesives and sealants market shows that the size of Adhesives and sealants market is expected to reach USD 62.8 billion by 2024 from an estimated market size of USD 43.6 billion in 2015, growing at a CAGR of 4.6% over the forecast period 2016-2024.
Global Automotive Lubricants Market:
Global Automotive Lubricants Market is driving on the basis of advancement in global use of highly developed agricultural machinery and equipment which requires the specialized protection thus use of lubricants is simultaneously increasing. Automotive lubricants market is anticipated to witness a significant upsurge in demand in the coming years owing to the escalating trend of possessing an automobile among consumers.