The latest market report published by Credence Research, Inc. “Global Medium Molecular Weight Polyisobutylene Market: Growth, Future Prospects, and Competitive Analysis, 2019 – 2027”. The Medium Molecular Weight Polyisobutylene market was valued at USS 490 million in 2019 and expected to grow at a CAGR of 9% during the forecast period from 2020 to 2027 to reach USD 710 million in 2027.
Polyisobutylene is a copolymer of isobutylene and isoprene, used extensively in the production of inner tubes of tires, agricultural chemicals, pulp & paper, chewing gum, adhesives, caulks, sealants, and among others. Generally, medium molecular weight polyisobutylene is used to strengthen the characteristics such as; elongation, flexibility, cohesive strength, and gas barrier performance of a product. Medium molecular weight polyisobutylene have a standard molecular weight, between 40,000 to 120,000 g/mol. It possesses impermeability to gases, thermal stability and good flexibility. Moreover, it offers high resistance to alkalis, acids, and salts.
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Key Trends in Global Medium Molecular Weight Polyisobutylene Market
Adhesive segment dominated the Medium Molecular Weight Polyisobutylene market in 2019. It accounted for the largest market share in terms of both volume and revenue. Adhesive segment has experienced strong penetration in the market and is expected to continue its dominance within forecast period. Furthermore, adhesive segment is anticipated to be the most attractive segment of the market over the years due to its extensive use in various end user industries such as packaging, construction and automotive. The sealant segment is expected to be the second most attractive application segment during the forecast period on the account of growing demand for Medium Molecular Weight Polyisobutylene based sealants in construction industry. Strong demand for Medium Molecular Weight Polyisobutylene based adhesives and sealants in various end-user industries is further expected to fuel the growth of this industry during the forecast period.
Impact of COVID 19 on Global Medium Molecular Weight Polyisobutylene Market
COVID 19 has left an unparalleled impact on growth of global Medium Molecular Weight Polyisobutylene industry. The global Medium Molecular Weight Polyisobutylene has witnessed very severe setback like never before. The demand for Medium Molecular Weight Polyisobutylene is expected to be plunged by almost 20% in 2020, in terms of both volume as well as revenue. However, with the beginning of unlock process across the world and anticipation of COVID 19 vaccine to be launched during first half of 2020 is expected to bring recovery in demand for Medium Molecular Weight Polyisobutylene.
Global Medium Molecular Weight Polyisobutylene Market by Application Insights
Based on its applications, the global Medium Molecular Weight Polyisobutylene market can be segmented into Gum Base, Adhesives, Sealants, Lubricants and Other. Polyisobutylene is a homopolymer of isobutylene and isoprene. It is generally odorless and offers high resistance towards salt, acid and alkalis. Polyisobutylene are categorized into low medium and high types depending on their molecular weights. Medium molecular weight polyisobutylene are mainly utilized in adhesive formulations, viscosity modifiers and binder in sealing compounds. It is also used in additives such as fuel additive and lubricating additive as it offers thickness and is used AS precursor. Adhesives and Sealants accounted for over two third share of the total revenue generated by the Medium Molecular Weight Polyisobutylene market in 2019.
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Global Medium Molecular Weight Polyisobutylene Market by Regional Insights
At present Asia Pacific dominated the global Medium Molecular Weight Polyisobutylene market with highest revenue contribution in total revenue generated by this industry. It accounted for over 40% share in total revenue generated by Medium Molecular Weight Polyisobutylene industry in 2019. Europe was the second leading regional market for Medium Molecular Weight Polyisobutylene industry and closely followed by North America. Asia Pacific is also expected to exhibit fastest CAGR during the forecast period. Latin America and the Middle East & Africa account for smallest shares compared to other remaining regions in 2019. However, it is likely to exhibit the splendid growth in next future due to growing demand for medium molecular weight polyisobutylene based additives and lubricants in the regions.
Global Medium Molecular Weight Polyisobutylene Market Competitive Landscape
Global Medium Molecular Weight Polyisobutylene market is fragmented and characterized by the presence of large number of players such as Exxon Mobil Corporation, LANXESS, TPC Group, INEOS, Berkshire Hathaway Inc, Chevron Oronite Company LLC, INFINEUM INTERNATIONAL LIMITED, Proteux Corp, Kothari Petrochemicals, BASF SE, Zhejiang Shunda New Material Co., Shandong Hongrui Petrochemical Co., Ltd and Mayzo. All the major players are focusing on development of innovative products.
Market Segmentation
Global Medium Molecular Weight Polyisobutylene Market by Application, 2015 – 2027
- Gum Base
- Adhesives
- Sealants
- Lubricants
- Other
Global Medium Molecular Weight Polyisobutylene Market by Region, 2015 – 2027
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Global Medium Molecular Weight Polyisobutylene Market: Key Players
- Exxon Mobil Corporation
- LANXESS
- TPC Group
- INEOS
- Berkshire Hathaway Inc
- Chevron Oronite Company LLC
- INFINEUM INTERNATIONAL LIMITED
- Proteux Corp
- Kothari Petrochemicals
- BASF SE
- Zhejiang Shunda New Material Co.
- Shandong Hongrui Petrochemical Co. Ltd
- Mayzo Others
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