The North America Polyisobutene Market would witness market growth of 4.9% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 267.35 Kilo Tonnes, showcasing a growth of 4.2% (2019-2022).
Polyisobutene (PIB) is widely used in the automotive industry as a key ingredient in formulating high-performance lubricants. Its excellent viscosity index and thermal stability contribute to improved engine efficiency and reduced friction, extending the life of automotive components. This is employed as a fuel additive, enhancing the properties of fuels.
Polyisobutene's adhesive and sealing properties make it valuable in the construction industry. It is used to produce adhesives and sealants, ensuring strong and durable bonds between materials. PIB-based sealants contribute to weatherproofing and enhancing the longevity of structures. It’s surface-active properties make it suitable for applications as a surfactant.
As the automotive industry in Canada emphasizes comfort and performance, the demand for components incorporating this for vibration control is likely to grow. This plays a crucial role in tire manufacturing, where it is often used in the inner liner of tires in Canada. This application enhances the air retention properties of tires, contributing to improved fuel efficiency and overall tire performance in Canada. Hence, the factors mentioned above will drive the regional market growth.
The US market dominated the North America Polyisobutene Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $749.3 million by 2030. The Canada market is experiencing a CAGR of 7.3% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 6.3% during (2023 - 2030).
Based on Molecular Weight Type, the market is segmented into High, Medium, and Low. Based on Application, the market is segmented into Lubricant Additives, Adhesives & Sealants, Automotive Rubber Components, Fuel Additives, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Polyisobutene (PIB) is widely used in the automotive industry as a key ingredient in formulating high-performance lubricants. Its excellent viscosity index and thermal stability contribute to improved engine efficiency and reduced friction, extending the life of automotive components. This is employed as a fuel additive, enhancing the properties of fuels.
Polyisobutene's adhesive and sealing properties make it valuable in the construction industry. It is used to produce adhesives and sealants, ensuring strong and durable bonds between materials. PIB-based sealants contribute to weatherproofing and enhancing the longevity of structures. It’s surface-active properties make it suitable for applications as a surfactant.
As the automotive industry in Canada emphasizes comfort and performance, the demand for components incorporating this for vibration control is likely to grow. This plays a crucial role in tire manufacturing, where it is often used in the inner liner of tires in Canada. This application enhances the air retention properties of tires, contributing to improved fuel efficiency and overall tire performance in Canada. Hence, the factors mentioned above will drive the regional market growth.
The US market dominated the North America Polyisobutene Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $749.3 million by 2030. The Canada market is experiencing a CAGR of 7.3% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 6.3% during (2023 - 2030).
Based on Molecular Weight Type, the market is segmented into High, Medium, and Low. Based on Application, the market is segmented into Lubricant Additives, Adhesives & Sealants, Automotive Rubber Components, Fuel Additives, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- Lanxess AG
- BASF SE
- Berkshire Hathaway, Inc.
- Reliance Industries Limited
- INEOS Group Holdings S.A.
- Braskem SE (Odebrecht S.A)
- ENEOS Corporation (Eneos Holdings)
- Exxon Mobil Corporation
- Chevron Oronite Company LLC
- TPC Group
Market Report Segmentation
By Molecular Weight Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)- High
- Medium
- Low
- Lubricant Additives
- Adhesives & Sealants
- Automotive Rubber Components
- Fuel Additives
- Others
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. North America Polyisobutene Market by Molecular Weight Type
Chapter 5. North America Polyisobutene Market by Application
Chapter 6. North America Polyisobutene Market by Country
Chapter 7. Company Profiles
Companies Mentioned
- Lanxess AG
- BASF SE
- Berkshire Hathaway, Inc.
- Reliance Industries Limited
- INEOS Group Holdings S.A.
- Braskem SE (Odebrecht S.A)
- ENEOS Corporation (Eneos Holdings)
- Exxon Mobil Corporation
- Chevron Oronite Company LLC
- TPC Group
Methodology
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