Polyisobutylene (PIB) or
Butyl
rubber is a commercial rubber with unique chemical
and physical properties. Butyl rubber’s impermeability to moisture and gases
makes it ideal for manufacturing tubeless tires. Butyl rubber has wide range of
applications including protective clothing, chewing gum and pharmaceutical
medications. Butyl rubber has superior impermeability, and the long
Polyisobutylene segment of its polymer chain gives it excellent flex property.
In addition, butyl rubber has good chemical resistance, outstanding heat
resistance, excellent aging stability, superior damping properties and
excellent ozone and weather resistance. Furthermore, butyl rubber has superior
electrical insulation properties, fast cure rate requiring lower amounts of
vulcanizing agents and good adhesion to other types of rubber.
Butyl Rubber is
used in production of wide range of products such as tires, adhesives,
sealants, tubes, inner liners of tires, additives for motor oils,
adhesive tapes, sealants, stoppers for medical bottles, sports equipment and so
on. This product is a co-polymer of Isobutylene and Isoprene with high electrical
resistivity and greater resistance which is predominantly in used in
manufacturing of tires and tubes.PIB is one of the most rapidly growing segments of the rubber
industry
Market Growth Reasons:
·
Various
industries use the PIB on account of its excellent impermeability, thermal
stability and flexibility.
·
The
growing transportation industry has facilitated the hike in the market.
·
The
increasing demand for superior materials for adhesives, sealants, stoppers and
similar others will drive the market in the future in pharmaceutical and
adhesives applications.
·
Furthermore,
the evolving environmental regulations are expected to spur innovations aiming
to bring out eco-friendly products.
Insight
on Major Players:
The Butyl Rubber
Market is dominated by few players which constitute more than 50% of the share
in 2014. ExxonMobil and Lanxess AG are the top two players in the market, which
are continuously making efforts to widen their share in the market. ExxonMobil
has announced its plans in 2014 to construct a large production plant, whereas
Lanxess AG has invested in China on construction of a production plant in 2013.
Asia-Pacific is estimated to witness highest
growth, with China being the frontier of growth with a forecast to grow at 7.7% CAGR from 2015-2020! To
mention few key players:
·
BASF SE,
·
Chevron Oronite,
·
ExxonMobil Corporation,
·
Infineum, Lanxess,
·
TPC Group and
·
Lubrizol Corporation.
Trends:
Tires and Tubes
were the largest application of butyl rubber in 2014. Different innovations and
changing trends in the tire technology have led to the growing demand for
Polyisobutylene in the automotive industry. Polyisobutylene is increasingly
being used to manufacture durable tires. This segment constitutes 80% and is
estimated to exhibit striking growth owing to the progression in automotive
industry. The Adhesives and Pharmaceutical applications are forecast to
showcase the highest growth in the wake of increasing demand of high elastic
and high resistive products in those applications. The butyl rubbers at very
high temperatures are not stable and pose risk. Innovations focused on this
drawback will further propel the market. The market structure is
oligopoly, where the top five constituting more than 50% in 2014.
Geographical
analysis in the report:
·
North America
·
Asia Pacific
·
Europe
·
Rest of the World
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