The polyisobutylene market in Europe is expected to grow from US$ 792. 3 million in 2019 to US$ 1,115. 6 million by 2027; it is estimated to grow at a CAGR of 4. 4% from 2020 to 2027. Automotive industry to increase the market development.
New York, Oct. 28, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Europe Polyisobutylene Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Molecular Weight, Product, Application, and End Use" - https://www.reportlinker.com/p05978858/?utm_source=GNW
In the automotive industry, the performance of engine is an important factor to ensure seamless function of the engine on daily basis.
PIB-based deposit regulator fuel additives are polymeric chemicals that are widely utilized as additives in engine fuel (for instance gasoline) to keep soot, sludge, oxidation products, and other debris from founding deposits onto and harming key engine parts.Polyisobutylene-based lubricants and fuels help push the boundaries of strength, speed, durability and cleanliness.
These deposits can rob an engine of power, increase harmful emissions, and reduce fuel economy.These factors combined, increases the demand for polyisobutyene in the automotive industry to a greater extent.
The automotive industry has been the key market for several types of fuel additives for many years. The share for automobiles has continuously been higher than that of the other fuel additives market segment due to the lack of efficient fossil fuel alternatives and an increasing middle-class economy. The relative importance of aviation for fuel additives has boosted in recent years, ultimately mounting the demand for polyisobutylene. Increasing use of polyisobutylene-based butyl rubber in developing automobile parts such as gaskets, hosepipes, and window strips due to superior thermal stability, flexibility, and improved oxidation resistance, further drive the demand for polyisobutylene(PIB). The increasing demand for polyisobutylene from construction industry is among the other factors expected to positively influence the demand for polyisobutylene(PIB) market.
In terms of application, the industrial lubes and lubes additives segment led the Europe Polyisobutylene (PIB) market in 2019.Polyisobutylene (PIB) is generally used in manufacturing industrial lubes and lube additives as viscosity index improver in industrial gear oils and automotive, as smoke suppressants in two stroke oils, as thickeners in greases, and building blocks for dispersants.
It also finds uses in food grade lubricants, as they are nontoxic and do not support the growth of microbes.Polyisobutylene (PIB) is also used as substitutes for bright stock owing to their advantages such as better viscosity indices and more oxidative and hydrolytic stability.
Polyisobutylene (PIB) also burn cleaner, making them ideal for use in two-stroke engine oils and marine applications where lubricants are subjected to harsh blow-by gases from huge diesel engines which will surge the demand of the polyisobutylene (PIB) market.
Various emerging economies backed by massive industrial presence, huge population, and increasing disposal income are the major factors driving the growth of the polyisobutylene (PIB) market in Europe.With the outbreak of COVID-19, the Europe region is likely to get affected with respect to the economic growth.
Although, Germany is the manufacturing hub and leading raw material supplier for various industries, it is one the worst affected countries due to the COVID-19 outbreak.Other leading manufacturing hubs such as France and UK are also facing significant impact of COVID-19 outbreak.
Various initiatives such as travel bans, business shutdowns, and lockdowns were imposed by the governments across Europe, which is anticipated to affect the expected revenue generation and overall growth opportunities in Europe.
The overall Europe polyisobutylene (PIB) market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining overview and forecast for the Europe polyisobutylene (PIB) market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe polyisobutylene (PIB) market. TPC Group, The Lubrizol Corporation, Sibur Holding PJSC, Kothari Petrochemicals, Kemat Polybutenes, Infineum International Limited, Ineos AG, Daelim Industrial Petrochemical Division, Braskem SA, and BASF SE are among the key players in the Europe polyisobutylene market.
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