Global medium molecular weight polyisobutylene market expected to reach USD 542.82 million in 2021, growing at a CAGR of 3.7% between 2016 and 2021.
Sarasota, FL -- (SBWIRE) -- 02/17/2017 -- Zion Market Research has published a new report titled "Medium Molecular Weight Polyisobutylene Market for Gum Base, Additives, Sealants, Lubricants and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021." According to the report, global demand for medium molecular weight polyisobutylene was valued at USD 436.40 million in 2015 and is expected to reach USD 542.82 million in 2021, growing at a CAGR of 3.7% between 2016 and 2021. In terms of volume, the global medium molecular weight polyisobutylene market stood at 149.68 kilo tons in 2015.
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Medium molecular weight polyisobutylene is an aliphatic polymer and are widely used in solvent based or melt-based formulations. It is primarily derived from isobutylene and isoprene. It offers various properties such as strong elongation ability, flexibility, cohesive strength, and gas barrier performance of a product. For instance, medium molecular weight polyisobutylene polymers are extensively used for the formulation of HM (High Modulus) primary sealants.
North America market for medium molecular weight polyisobutylene is primarily driven by the demand for adhesive and sealants in the automotive sector and packaging industry. In terms of revenue, US led the medium molecular weight polyisobutylene market in 2015. The booming packaging industry in North America offers many opportunities in the adhesive and sealants market. Rising demand for adhesives & sealants in the region, which in turn driving the demand for medium molecular weight polyisobutylene within the forecast period.
Europe was second largest consumer of the medium molecular weight polyisobutylene in 2015. Moreover, the huge demand for medium molecular weight polyisobutylene based adhesive and sealants in automotive industry is expected to boost the market in the region in near future. Germany is a big hub for automobile which in turn offers extensive opportunities to molecular weight polyisobutylene manufacturers in Germany. This in turn is expected to drive the demand for the market. German automobile industry is the most competitive and innovative in the world, and has the third highest automobile production in the world, and fourth highest overall vehicle production. Germany is the one of the leaders in automobile production in Europe. Thus, the mounting demand for adhesive and sealants in automotive industry in Germany is expected to portray a positive impact on molecular weight polyisobutylene market in the region.
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Asia Pacific dominated the market in 2015 and is expected to grow at higher CAGR of 4.9% between 2016 and 2021. This is mainly attributed to the rapidly growing industrialization in this region. Emerging different manufacturing industries, rising disposable coupled with growing demand for lubricants are a major diving forces that are expected to propel the demand for medium molecular weight polyisobutylene market especially in China and India in near future.
Latin America is expected to experience substantial growth in the forecast period. Moreover, there has been huge production growth of chewing gum in Brazil and Mexico. In 2015, it was noted that Brazil accounted for the second largest gum production region after U.S. Polyisobutylene is used as stopper or in covering of vials. Moreover, developing pharmaceutical sector in Brazil is expected to signify the growth of medium molecular weight polyisobutylene in Latin America.
Middle East and Africa is likely to exhibit lucrative growth in the coming years due to rapidly developing industrialization owing to high availability of raw sources and workforce with low labor cost. Middle East and Africa is primarily focusing on developing its road infrastructure which may further led increase in market for automobile industry which in turn assist the expansion of medium molecular weight polyisobutylene market.
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Some of the leading key players for the polyisobutylene are Exxon Mobil Corporation, Lanxess, Infineum International Limited, TPC Group, INEOS, Berkshire Hathaway Inc, Chevron Oronite Company LLC, Kothari Petrochemicals, BASF SE, Zhejiang Shunda New Material Co., Proteux Corp, Shandong Hongrui Petrochemical Co., Ltd and Mayzo among others.
This report segments the global medium molecular weight polyisobutylene market as follows:
Medium Molecular Weight Polyisobutylene Market: Application Analysis
-Others (including bitumen modification, etc.)
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Medium Molecular Weight Polyisobutylene Market: Regional Analysis
-Middle East & Africa
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