Polyisobutene, also known as PIB or polyisobutylene, is a low volume commodity thermoplastic product. Owing to its versatile characteristics like exceptional barrier properties, insulation properties and self-healing properties, polyisobutene has become ideal choice in number of end use industries.
For instance, attributed to its self-healing properties, polyisobutene is highly utilized in production of adhesives and sealants. Apart from this, it’s well balanced barrier and flow properties, polyisobutene has become choice of insulation material in wires and cables.
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Growing demand for polyisobutene from range of applications including but not limited to adhesives & sealants, electrical insulation, lubricants, personal care and cosmetics are set to drive the global polyisobutene market during forecast period (2020-2030).
On the basis of end use, personal care and cosmetics has been identified as one of the key consumers of polyisobutene among other applications. Polyisobutene is used as an emollient in cosmetic formulations to offer soft and shiner experience to consumers. Owing to its excellent emollient and moisturizer capability, it is highly utilized in hydrating creams and creams for impure skin.
Increasing usage of polyisobutene in plethora of applications such as color cosmetics, lipsticks, baby care products and cleansing creams are set to augment the market growth during the forecast period. Polyisobutene is also used as water vapor barrier in roofing applications.
Application range of polyisobutene is just not limited to above mentioned examples, it is also highly utilized in other applications like lubricants, as an extenders and as plasticizers which will bolster its demand in forthcoming years.
COVID Impact Insights
Coronavirus outbreak has pushed global economy in all-time great recession. The spread of the coronavirus has not only forced people to remain in their homes but also caused millions of fatalities in the world. Fear of coronavirus outbreak and in order to prevent its further spreading almost every government has imposed strict measures like lockdowns and strict social distancing which has disrupted every industry and market so the polyisobutene market across the globe.
As per UN stats, global economy is estimated to suffer billion dollars of loss in 2020. The coronavirus pandemic has generated massive disruptions in the demand-supply equation across multiple industries, causing a global economic meltdown. As per new normal huge chunk of people are working from home due to which demand for numerous personal care and cosmetic products.
Further, construction and automotive industry is suffering from huge loss due to coronavirus outbreak. Aforementioned industries being the primary consumers have directly impacted demand of polyisobutene in last quarter. The scenario is likely to remain same until its end users market recovers. However, personal care and cosmetic industry is poised to create moderate demand for polyisobutene in year 2020.
Segmentation Analysis of Polyisobutene Market:
The global polyisobutene market is bifurcated into four major segments: purity, function, end use, and region.
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On the basis of purity, polyisobutene market has been segmented as follows:
On the basis of function, polyisobutene market has been segmented as follows:
- Extender & Plasticizer
- Film Forming Agent
- Oxidation Resistant
- Viscosity Controlling Agent
On the basis of end use, polyisobutene market has been segmented as follows:
- Adhesives & Sealants
- Personal Care & Cosmetics
On the basis of geographic regions, polyisobutene market is segmented as
- North America
- Latin America
- East Asia
- South Asia and Oceania
- Middle East & Africa
Polyisobutene Market: Regional Outlook
The report on the global polyisobutene market covers six major regions that include North America, Europe, Latin America, East Asia, South Asia & Oceania, and MEA. East Asia being a largest adhesive & sealant manufacturer, largest automotive manufacturer and hub of packaging industry has been identified as the leading consumer of polyisobutene.
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East Asia is projected to continue on the back of China which dominates the aforementioned industries in terms of production. Furthermore, China is the largest polymer producer in the world and increasing consumption of polyisobutene as an extenders and as plasticizers in polymer industry is set to assist the regional market growth during the forecast period.
South Asia and Oceania is poised to emerge as fastest growing region owing to presence of paced economies like India, Vietnam, Malaysia and Singapore.
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