Highly Reactive Polyisobutylene Market Expected to Reach $1.6 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Highly Reactive Polyisobutylene Market," The highly reactive polyisobutylene market was valued at $1.0 billion in 2021, and is estimated to reach $1.6 billion by 2031, growing at a CAGR of 5.5% from 2022 to 2031. 

High reactive polyisobutylene is bright, clear, and viscous in nature. Highly reactive term is in reference to the materials increased terminally positioned doubled bonds also called as the molecule “vinylidene” content. HR-PIB can be replaced with conventional polyisobutylene but its primary application is as a reactionary intermediate. HR-PIB also has an increased polydispersity index when compared to conventional PIB. Highly reactive polyisobutylene has a broad range of applications such as adhesives and sealants, lubricant & grease manufacturers, metal working, cosmetics, HI & I, and mining. 

The demand for HR-PIB is often closely tied to the performance requirements of end-use industries such as automotive and construction. Changes in these industries, including shifts in consumer preferences, environmental regulations, and technological advancements, can impact the HR-PIB market. Innovations in the production and application of HR-PIB can influence market dynamics. New manufacturing processes and formulations can lead to improved product performance and expanded applications. 

Market for highly reactive polyisobutylene is witnessing growth in North America and the Asia-Pacific regions due to increase in demand for lubricants and hydraulic fluids and growing urbanization and industrialization. The rise in use of HR-PIB in the creation of additives, lubricants, and high-performance fuel is another factor contributing to the growth of the market. The rise in demand for automotive and industrial applications is accountable for the HR-PIB market expansion over the projection period. In addition, a rise in awareness regarding the benefits of using HR-PIB in various end-use industries is driving market growth.

Growing demand for HR-PIB in the construction industry as an adhesive and sealant

Highly reactive polyisobutylene offers number of advantages in the construction industry, as adhesives & sealants owing to its tackiness and stability which make it perfect for various hot melt pressure sensitive adhesives. Additionally, the growing industrialization and construction globally are fueling demand for machinery and equipment for production facilities, thus in turn hydraulic fluids and sealants are widely used in these industries.

HR-PIB has excellent sealant properties such as reducing shrinkages. Products have beneficial qualities that make them suitable for sealants, such as high degree elongation, moisture resistance, and superior adhesive properties to a variety of substrates. The expanding construction sector is a major contributor in the expansion of the global market for highly reactive polyisobutylene (HR-PIB) due to the increased product use in sealants and adhesives for damp proofing and roof repair.

The growing investment in the construction industry is expected to increase the demand for highly reactive polyisobutylene in adhesive applications. The Middle East, Africa, and Asia Pacific economies are expected to experience rising infrastructure demand as a result of developing road infrastructure, rising per capita property ownership, and rising purchasing power. This will have an impact on the region construction industry, which will then increase demand for highly reactive polyisobutylene during the forecast period.

The highly reactive polyisobutylene market is segmented on the basis of molecular weight, application, and region. On the basis of molecular weight, the market is divided into low, medium, and high. The medium segment accounted for the largest market share in 2021, owing to the high demand for medium molecular weight HR-PIB from the automotive and construction industry as it has a broad melting point and low density.

By application, it is divided into adhesives and sealants, lubricants and grease, hydraulic fluids, metal working fluids and others. The lubricants and grease segment accounted for the largest revenue share in the global highly reactive polyisobutylene market in 2021. High demand for HR-PIB in high-performance fuel and lubricant additive production is projected to drive market growth during the projection period.

Region wise, Asia-Pacific accounted for the largest market share in the market, and is projected to grow at a CAGR of 6.1% during the forecast period. Increase in construction and automotive markets in countries such as France and Germany have benefited the global highly reactive polyisobutylene market.

Key players engaged in development and production of highly reactive polyisobutylene include TPC Group, RB Products Inc., BASF SE, Lubrizol, INEOS, DAELIM Industrial Co. Ltd., Chevron, SPG Prints B.V., Zhejiang Shunda New Material Company Ltd., and KEMAT Polybutenes.

IMPACT OF COVID-19 ON THE GLOBAL HIGHLY REACTIVE POLYISOBUTYLENE MARKET

Europe is a key supplier of highly reactive polyisobutylenes, thus restrictions put on European countries to contain and minimize the spread of the virus reduced demand for adhesives and sealants, lubricants and grease, hydraulic fluids, metal working fluids and other highly reactive polyisobutylene-based products during the COVID-19 pandemic. From 2021, the operations of various end-use industries have started normally which helped to increase demand for highly reactive polyisobutylene from end-use industries such as automotive, construction, and others.

Key Fidings Of The Study

• On the basis of molecular weight, the medium segment emerged as the global leader by acquiring more than 40% of the highly reactive polyisobutylene market share in 2021, and is anticipated to continue this trend during the forecast period.
• On the basis of application, the lubricants and grease segment accounted for around 30% of the global highly reactive polyisobutylene market share in FY2021 and is anticipated to continue this trend during the forecast period.
• On the basis of region, Asia-Pacific is the major consumer of Highly reactive polyisobutylene among other regions. It accounted for more than 35% of the global market share in 2021 and is anticipated to continue this trend during the forecast period.