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Highly Reactive Polyisobutylene (HR-PIB) Market Market Report 2019 By Regional Revenue, Growth & Trends Analysis 2024

Author : Rahul Varpe | Published Date : 2019-06-20 

Global Market Insights, Inc., has introduced a concise study on the Highly Reactive Polyisobutylene (HR-PIB) Market to depict valuable insights related to significant market trends driving the industry. The report features analysis based on key opportunities and challenges confronted by market leaders while highlighting their competitive setting and corporate strategies for the estimated timeline.

Robust product demand as lubricant & fuel additive due to its ability to improve the overall performance of vehicle by reducing emissions, this is a major factor which will make noteworthy contribution to highly reactive polyisobutylene market by 2024. Stringent environmental regulations imposed by regional regulatory bodies are encouraging product use which can reduce emissions from vehicles. Additionally, rising automotive industry primarily in Asia Pacific will also have positive impact on the highly reactive polyisobutylene market by 2024. This is majorly attributed to impervious nature of product which makes it preferable in manufacturing tubeless tires.

Request sample copy of this report @ https://www.gminsights.com/request-sample/detail/2233

Highly Reactive Polyisobutylene (HR-PIB) Market is poised to surpass USD 332.3 million by 2024. Product use as lubricant additive and may have environmental implications which is probable to obstruct the highly reactive polyisobutylene market by 2024. Its use in water transportation vehicles may have an adverse impact on aquatic life. Currently, there are limited regulations against product use, however, environmental protection groups including the Wildlife Trust, Marine Conservation Society, etc. are appealing the U.K. government to introduce and implement stringent regulations which is likely to hamper the overall highly reactive polyisobutylene market by 2024. 

Highly reactive polyisobutylene market for automotive is likely to rise with over 4% CAGR by 2024. It is primarily due to its applications in manufacturing tire inner liners which has propelled its demand across automotive industry. Moreover, the product offers excellent inflation pressure retention for all types of tires. It also offers barrier properties, resistance to ozone, high damping and heat aging, which makes it ideal for automotive vibration control. Thus, the increasing demand for tires, on account of the rapidly growing automobile industry, is expected to augment highly reactive polyisobutylene market substantially within the forecast period.

Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/2233

Asia Pacific highly reactive polyisobutylene market was valued over USD 100 million in 2016. Robust product demand is majorly due to rising automotive industry, primarily in India and China mainly due to growing population in the region. Additionally, construction industry in the region is likely to exhibit 7% CAGR in the coming years. This will subsequently have a positive impact on the highly reactive polyisobutylene market due to its applications as adhesive & sealant in flooring, insulation, panel, partitions and roofing, facades and fire protection.

Key prominent highly reactive polyisobutylene market players are RB Products, Lanxess, BASF, Petronas, Janex, Kothari Petrochemicals, Mayzo and TPC Group. Major players are actively engaged in investing in HR-PIB production unit to expand their business in the market by undergoing merger, acquisition and joint agreement. For instance, BASF and Petronas had invested in a joint venture in South East Asia in March 2016, with an overall capacity of 50,000 tons of highly reactive polyisobutylene. It was intended to meet the rapidly rising consumer demand in the region due to growing automotive and construction industry.

Read More @ https://www.marketwatch.com/press-release/Printed-Cartons-Market-Report-2019-By-Regional-Revenue-Growth-Trends-Analysis-2024-2019-06-18

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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