Analysis of COVID-19 Crisis-driven Growth Opportunities in Medium Molecular Weight Polyisobutylene Market
The global medium molecular weight polyisobutylene market is consolidated in nature. According to a report by Transparency Market Research, the market has handful of players engaged in majority of shares in the market. These manufacturers in the market are adopting various strategies such as mergers and acquisitions. They are also engaging in joint ventures and expansion of their companies to increase their customer base and market reach globally. Entrance of new players in the market will rise the competition significantly. Some of the leading players in the market of medium molecular weight polyisobutylene market are Shandong Hongrui Petrochemical Co. Ltd., BASF SE, JX Nippon Oil & Energy Corporation, and Zhejiang Shunda New Material Co.
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The global medium molecular weight polyisobutylene market is anticipated to rise at a healthy CAGR of 4.3% during the forecast period of 2015 to 2023. The market value was US$420.5 mn during 2014. It is expected to reach US$610.1 mn by the end of 2023. According to application segment, the global medium molecular weight polyisobutylene market adhesive held 40% of the global share during 2014 and it is expected to lead the market. Geographically, Asia Pacific led the global medium molecular weight polyisobutylene by holding 35% share during 2014. Significant growth in this region is expected during the forecast period as well.
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Demand of Automobile Industry to Lead Medium Molecular Weight Polyisobutylene Market
The rise in demand for adhesive and sealants in lubricating oils are expected to augment the market. Developing economies are increasing manufacturing based industries to meet the demand of consumption. Increase in chewing gum is also expected to rise, leading to growth of medium molecular weight polyisobutylene market during the forecast period. There is increased demand of medium molecular weight polyisobutylene in roofing sealants, pressure sensitive adhesive, and cable glazing applications leading to rise in demand in the market. It also plays a vital role in the usage of polymer based and hot melt adhesive formulations.
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The information in this review is based on the findings of a report by Transparency Market Research, titled “Medium Molecular Weight Polyisobutylene Market for Gum Base, Adhesives, Sealants, Lubricants, and Other Applications – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 – 2023.”
The global medium molecular weight polyisobutylene market segmentation are:
Medium Molecular Weight Polyisobutylene Market – Application Analysis
- Gum base
- Adhesives
- Sealants
- Lubricants
- Others (Including bitumen modification, etc.)
Medium Molecular Weight Polyisobutylene Market – Regional Analysis
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
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