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.
View Exclusive Global Strategic Business Report: http:// www. transparencymarketresearch. com / sample / sample. php? flag = S & rep _ id = 17 34
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
Transparency Market Research
2