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The latest market report published by Credence Research, Inc. “Global Medium Molecular Weight Polyisobutylene Market: Growth, Future Prospects, and Competitive Analysis, 2019 – 2027”. The Medium Molecular Weight Polyisobutylene market was valued at USS 490 million in 2019 and expected to grow at a CAGR of 9% during the forecast period from 2020 to 2027 to reach USD 710 million in 2027.
Polyisobutylene is a copolymer of isobutylene and isoprene used extensively in the manufacture of inner tubes of tyres, agricultural chemicals, pulp & paper, chewing gum, adhesives, caulks, sealants and others. Generally, medium molecular weight polyisobutylene is used to enhance the characteristics of the product, such as elongation, flexibility, consistency and gas barrier performance. Medium molecular weight polyisobutylene has a standard molecular weight of between 40,000 and 120,000 g/mol. It has impermeability to gases, thermal stability and good flexibility. It also offers high resistance to alkalis, acids and salts.
Key Trends in Global Medium Molecular Weight Polyisobutylene Market
The adhesive segment dominated the market for Medium Molecular Weight Polyisobutylene in 2019. It represented the largest market share, both in terms of volume and revenue. The adhesive segment has experienced a strong market penetration and is expected to continue to dominate over the forecast period. In addition, the adhesive segment is expected to be the most attractive segment of the market over the years due to its extensive use in various end-user industries such as packaging, construction and automotive. The sealant segment is expected to be the second most attractive application segment during the forecast period due to the growing demand for Medium Molecular Weight Polyisobutylene based sealants in the construction industry. Strong demand for Medium Molecular Weight Polyisobutylene based adhesives and sealants in various end-user industries is also expected to fuel the growth of this industry during the forecast period.
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Impact of COVID 19 on Global Medium Molecular Weight Polyisobutylene Market
COVID 19 has left an unparalleled impact on growth of global Medium Molecular Weight Polyisobutylene industry. The global Medium Molecular Weight Polyisobutylene has witnessed very severe setback like never before. The demand for Medium Molecular Weight Polyisobutylene is expected to be plunged by almost 20% in 2020, in terms of both volume as well as revenue. However, with the beginning of unlock process across the world and anticipation of COVID 19 vaccine to be launched during first half of 2020 is expected to bring recovery in demand for Medium Molecular Weight Polyisobutylene.
Global Medium Molecular Weight Polyisobutylene Market by Application Insights
Based on its applications, the global market for Medium Molecular Weight Polyisobutylene can be segmented into Gum Base, Adhesives, Sealants, Lubricants and Others. Polyisobutylene is an isobutylene and isoprene homopolymer. It is generally odourless and offers a high resistance to salt, acid and alkali. Polyisobutylene is categorised into low medium and high types, depending on their molecular weights. Medium molecular weight polyisobutylene is mainly used in adhesive formulations, viscosity modifiers and sealing compound binders. It is also used in additives such as a fuel additive and a lubricating additive because it offers thickness and is used as a precursor. Adhesives and Sealants accounted for more than two-thirds of the total revenues generated by the market for Medium Molecular Weight Polyisobutylene in 2019.
Global Medium Molecular Weight Polyisobutylene Market by Regional Insights
At present, Asia Pacific has dominated the global market for Medium Molecular Weight Polyisobutylene, with the highest revenue contribution from the total revenues generated by this industry. It accounted for more than 40% of the total revenues generated by the Medium Molecular Weight Polyisobutylene industry in 2019. Europe was the second largest regional market for the Medium Molecular Weight Polyisobutylene industry, followed closely by North America. Asia Pacific is also expected to exhibit the fastest CAGR in the forecast period. Latin America and the Middle East and Africa account for the smallest share of the remaining regions in 2019. However the increase in demand for medium molecular weight polyisobutylene based additives and lubricants in the regions is likely to be splendid in the future.
Global Medium Molecular Weight Polyisobutylene Market Competitive Landscape
Global Medium Molecular Weight Polyisobutylene market is fragmented and characterized by the presence of large number of players such as Exxon Mobil Corporation, LANXESS, TPC Group, INEOS, Berkshire Hathaway Inc, Chevron Oronite Company LLC, INFINEUM INTERNATIONAL LIMITED, Proteux Corp, Kothari Petrochemicals, BASF SE, Zhejiang Shunda New Material Co., Shandong Hongrui Petrochemical Co., Ltd and Mayzo. All the major players are focusing on development of innovative products.
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Market Segmentation
Global Medium Molecular Weight Polyisobutylene Market by Application, 2015 – 2027
Global Medium Molecular Weight Polyisobutylene Market by Region, 2015 – 2027
Global Medium Molecular Weight Polyisobutylene Market: Key Players
Key questions answered in this report
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