Global Medium Molecular Weight Polyisobutylene Market: Increasing Demand for Sealants and Adhesives to Ensure Expansion, states TMR
The global market for medium molecular weight polyisobutylene (MMW PIB) appears to be consolidated owing to the presence of a few number of manufacturers, who have been adopting strategies such as acquisitions and mergers. The top four manufacturers, BASF SE, Shandong Hongrui Petrochemical Co., Ltd., Zhejiang Shunda New Material Co.,Ltd., and JX Holdings, Inc. held a massive share of 42.4% in the global MMW PIB market in 2014. The growing number of market players from Asia Pacific will pose a challenge to the leading firms, finds Transparency Market Research (TMR). The global MMW PIB market is expected to grow at a CAGR of 4.3% during the forecast period between 2015 and 2023, reaching a valuation of around US$610.1 mn by the end of 2023, according to TMR. High Flexibility, Low Cohesive Strength of Adhesives Boost Growth Some of the major growth drivers of the market are rapid expansion of construction activities, technological advancements in ...