Polyisobutylene (PIB) market is expected to witness significant growth on account of increasing demand from tires owing to mounting automobile industry over the forecast period. Increasing PIB demand for manufacture of sealants & adhesives in the construction industry is expected to propel market growth over the next six years. Rising demand from application segment including automotive, lubricant, adhesive, paper & pulp, sealant, packaging, sporting equipment, explosives and chewing gum is expected to supplement market growth. In addition, growing concerns of high quality medical packaging is expected to drive market growth.
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Asia Pacific is expected to witness significant demand growth on account of rising automotive and construction industries mainly in emerging economies of China and India. High demand for tubeless tires, rapid urbanization and increasing infrastructural activities is expected to fuel demand in the region. However, harmful environmental impact as a result of PIB spills is expected to restrain market growth over the next six years. Introduction of recyclable and recoverable polyisobutylene is anticipated to serve as market growth opportunities over the forecast period.
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In addition, growing consumption of PIB in pharmaceuticals, construction and adhesives owing to its excellent impermeability, thermal stability and flexibility is expected to supplement market growth over the next six years. Key players in PIB market include ExxonMobil, Infineum International Ltd., BASF SE, INEOS, Lanxess, Chevron Oronite Company LLC, The Lubrizol Corporation and TPC Group. TPC Group offers enhanced PIB grades used in sealants,...