Global Highly Reactive Polyisobutylene Market – Demand from the Renewable Energy Industry to Boost Growth | Technavio

LONDON–(BUSINESS WIRE)–#Polyisobutylenes—Technavio
projects the global
highly reactive polyisobutylene market to post a CAGR of
over 5% during the forecast period. The rise in demand from
developing countries is a key driver, which is expected to positively
impact market growth during the period 2018-2022. The rise in demand for
highly reactive polyisobutylene from various end-user industries such as
automotive, construction, and medical from developing countries is
expected to drive market growth.

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In this report, Technavio highlights the increase in demand from the
renewable energy industry as one of the key emerging trends to drive the
global highly reactive polyisobutylene market:

Increase in demand from the renewable energy
industry

There is an increase in demand from the renewable energy industry owing
to the declining costs of solar technologies and increasing awareness of
a carbon-constrained future. The growth of the renewable energy industry
is driven by the voluntary procurement of solar plants by corporations
and utilities.

According to a senior analyst at Technavio for specialty
chemicals research, ÔÇ£The global levelized cost of electricity
of the solar photovoltaic generation has decreased by more than 200%
since 2009. Highly reactive polyisobutylene is used as a sealant in PV
systems. It is used as edge sealing for solar thermal collectors and
thin film modules. It is also used for junction box potting and framing
of PV modules in solar systems. Therefore, the growth of solar energy is
quite promising for the highly reactive polyisobutylene market.ÔÇØ

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Market segmentation and analysis through 2022

This market research report segments the global
highly reactive polyisobutylene market by application
(additives, automotive, and others), and key regions (the Americas,
APAC, and EMEA).

The additives segment accounted for 67% of the market in 2017, followed
by the automotive segment. The additives segment is expected to increase
its market share by a further 1% over the forecast period while the
other two segments will see a commensurate decrease in their market
share.

In 2017, the global highly reactive polyisobutylene market was led by
APAC which accounted for 41% share followed by the Americas and EMEA
respectively. APAC is expected to witness an increase of more than 1%
over the forecast period, while the other two regions will see a
corresponding decline in their market share.

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