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Polybutene-1 Market is Forecast to Surpass US$ 850 Million by 2032 - Fact.MR Analysis
NEW YORK , Feb. 7, 2022 /PRNewswire/ -- The global polybutene-1 market is expected to be worth over US$ 411 million in 2022, rising at a robust CAGR of 7.5% from 2022 to 2032 to reach US$ 850 million .
Polybutene-1 (PB-1) is widely used in a variety of industries, including food packaging, plumbing and pipelines, and electronic equipment, due to its 100 percent recyclability. Extrusion grade PB-1 is predicted to grow at the quickest rate, with a CAGR of 5% through 2032.
The COVID-19 pandemic reduced demand for polybutene-1, notably in the first two quarters of 2020. The decrease in demand was primarily due to lower usage in piping applications. The COVID-19 epidemic boosted demand for packaged foods, which helped to keep PB-1 demand alive during the pandemic. The use of polybutene-1 in food packaging increased in the fourth quarter of 2021.
In terms of vacuum food packaging, demand for polybutene-1 has skyrocketed. The use of polybutene-1 products in vacuum packaging has enabled consumers to create a variety of film structures that are commonly used for the safe packaging of peanuts, coffee, vacuum rice, meat packaging, powder milk, and cheese.
Polybutene-1 has a large market in Europe , with numerous major businesses operating in various European nations. The region is noted for producing the most polybutene-1, and it also has the greatest revenue share in terms of value. In 2019, Europe had a 28 percent market share, and by 2032, it is predicted to have a third of the market.
Du to the rapid growth of the food packaging industry, India is a major contributor to the growth of the polybutene-1 market. Over the last half-decade, the country has grown at a CAGR of 2.9%, and this trend is likely to continue in the medium term. The country is noted for having the greatest polybutene-1 consumption in the food packaging business, outranking all other countries in the region.
Automotive parts, bags and pouches, bottles and vials, coatings, colour concentrates, piping systems, and other applications are among the items offered by polybutene-1 manufacturers.
Key players in the Polybutene-1 Market include:
Fact.MR provides an unbiased analysis of the Polybutene-1 market, presenting forecast statistics for the period from (2022-2032). The study divulges compelling insights on the global Polybutene-1 market with a detailed segmentation on the basis of:
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