Polyisobutylene Market
REPORT DESCRIPTION
Polyisobutylene Market - Global Industry Analysis , Size , Share , Growth , Trends and Forecast 2015 - 2023
A high degree of consolidation is witnessed in the global polyisobutylene market , with a handful of players controlling the overall business dynamics . Three leading players , vis-à-vis , Nizhekamskneftekhim , Lanxess , and ExxonMobil Corp ., held a cumulative share of 65.5 % of the overall market in 2014 . A strong global presence has enabled these companies to maintain dominance in the market .
In order to seal their lead , these companies have adopted robust marketing strategies , foremost of them is patenting technologies . Going forwards , these enterprises are likely to focus aggressively on joint ventures , mergers and acquisitions , and strategic alliances to improve competitiveness , says Transparency Market Research ( TMR ), in a new study .
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TMR also foretells , the global polyisobutylene market to reach US $ 5.3 bn by the end of 2023 . The market is expected to reach this valuation at a CAGR of 5.40 % between 2015 and 2023 and from an overall value of US $ 3.3 bn in 2014 . Asia Pacific is currently in lead amongst the key regional segments of the global polyisobutylene market . In 2014 , the region held over 55 % of the overall demand witnessed by the global market . Based on application , the automotive sector is expected to remain dominant through the course of the forecast period . In 2014 , the segment occupied the lead with a share of 73 % in the overall market .
Rising Demand from Automotive Sector to Aid Market ’ s Growth
With the automotive industry at the fore , enterprises operating in the global polyisobutylene segment will gain from the rising demand for tires and tubes . “ Among the diverse rubbers such as styrenebutadiene rubber ( SBR ), nitrile rubber , and polyisobutylene used to manufacture tubes , the demand for polyisobutylene is expected to pace higher ,” said a lead TMR analyst . In addition polyisobutylene
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