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Polyisobutylene Market show exponential growth in medical packaging industry

Author : Rahul Varpe | Published Date : 2019-04-10 

Positive growth indicators in the medical packaging business will drive the global polyisobutylene market size by 2024. Widespread product applications in serum vials, saline bottles and seals due to its low absorptivity and superior chemical resistance against moisture, air and gases will positively influence the PIB market size over the projected timeframe.

In 2015, the automotive segment had over 50% of global PIB market share. The product characteristics such as ozone resistance, higher damping and higher inflation pressure capacity will drive its demand from the tires and tubes manufacturing industry in the coming years. Adhesives will witness maximum growth over 4.5% in the forecast period.

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The major driver to the growth of the market is projected to be the ever-increasing demand for Polyisobutylene (PIB) in sealants & adhesives industry in the forecast period. Healthy growth in sealants & adhesives business is estimated in the near future because of the extensive applications in industries such as construction, automotive and packaging for the activities like insulation, flooring, roofing and partitions. These growth trends will have a positive influence on the PIB market by 2024.

In 2015, the global adhesives market generated revenue about USD 25 billion and is expected to surpass USD 35 billion in the forecast period. The product bears bright growth aspects in adhesives industry for its superior characteristics such as adhesion, stability, tackiness and moisture resistance.

Global tubes and tires industry is probable to increase by over 5% CAGR by in forecast timeframe. On account of its water-resistant characteristics, the product is likely to witness higher demand from the tire and tube manufacturing industries by 2024.

Polyisobutylene market research report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2013 to 2024, for the following segments:

Polyisobutylene Market, By Application

  • Automotive
  • Additives
  • Others

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Asia Pacific region contributed highest share for PIB market in 2015. Strong prevalence of tube and tire manufacturing businesses in China, India, Indonesia and Malaysia coupled with rising automotive sales will drive the regional PIB market.

Key industry players are ExxonMobil Corporation, BASF SE, TPC Group, Kothari Petrochemicals, Lanxess AG, Chevron Oronite Company LLC, INEOS, Infineum International Ltd., The Lubrizol Corporation and Berkshire Hathaway Inc. extensive R&D by industry participants towards developing sustainable disposable measures will create new growth prospects by 2024.

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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