SEATTLE, April 06, 2020 (GLOBE NEWSWIRE) -- The global hydrogenated polyisobutene market was valued at US$ 15.1 million in 2018, and is expected to exhibit a CAGR of 4.7% during the forecast period (2019-2027).
Definition of Market/Industry:
Hydrogenated polyisobutene is a synthetic oil which is majorly used as a substitute for mineral oil. Moreover, it was first synthesized to mimic the effects of mineral oil.
Statistics:
The global hydrogenated polyisobutene market was valued at US$ 15.1 Mn in 2018, and is expected to reach US$ 22.8 Mn by the end of 2027, exhibiting a CAGR of 4.7% during the forecast period (2019 to 2027).
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Drivers:
Demand for hydrogenated polyisobutene is increasing due to the growing number of regulatory approvals, which is expected to favor the growth of the global hydrogenated polyisobutene market. For instance, in 2015, the Voluntary Cosmetic Registration Program (the Food & Drug Administration’s reporting system used by manufacturers, packers, and distributors of cosmetic products) stated that hydrogenated polyisobutene is reportedly used in around 1963 formulations. Lipsticks were the most reported category for consumption of hydrogenated polyisobutene. These factors are expected to boost demand for hydrogenated polyisobutene during the forecast period.
Market Opportunities
Rising demand for adhesives is likely to create growth opportunities for the global hydrogenated polyisobutene market. Apart from specific applications, adhesives can be used for various purposes such as sealing agents to prevent corrosion, waterproofing, and oxidation among others. For instance, according to the Institution of Civil Engineers, the global construction market is expected to reach US$ 8 trillion by 2030, driven by demand from China, the U.S., and India. This is expected to facilitate demand for hydrogenated polyisobutene from in the construction industry.
Market Restraints
Potential side effects of hydrogenated polyisobutene such as skin irritation are a major factor challenging the growth of the global hydrogenated polyisobutene market.
Key Takeaways
Among function, the cosmetics & personal care segment accounted for a significant market share in 2018. This segment is further sub-segmented into hair care, skin care, eye care, nail care, and others. Hydrogenated polyisobutene helps to maintain body moisture and also prevents water loss from the skin cells. Hydrogenated polyisobutene also increases viscosity of the base solution used in various cosmetic formulations and beauty products such as lipsticks, perfumes, foundations, face powders, make-up bases, shaving cream, moisturizers, suntan products, tanning preparations, nail polishes, and others. Therefore, the increasing demand for cosmetics & personal care products is expected to favor growth of the hydrogenated polyisobutene market during the forecast period.
Market Trends
Manufacturers are improving their production technologies to meet the growing demand for hydrogenated polyisobutene. For instance, BASF’s OPPANOL polyisobutene product family offers improved formulations that provide electrical insulation, water vapor barrier, and flexibility at low temperatures, good adhesion, and no skin irritation. These factors are expected to boost the demand for global hydrogenated polyisobutene market during the forecast period.
Competitive Section
Company Names
- A&E Connock
- BASF SE
- Croda International plc.
- Elementis PLC
- Glenn Corporation
- Henan Tianfu Chemical Co. ltd
- INEOS Oligomers
- NOF America Corporation
- Sensient Cosmetic Technologies
- SOPHIM
- The Innovation Company
- UPI Chem
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Market Taxonomy
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
By Function
- Emollient
- Viscosity Increasing Agent
- Plasticizer
- Others (Extruders, etc.)
By End-use Industry
- Cosmetics & Personal Care
- Skin Care (Inc. Lipstick)
- Hair Care
- Eye Care
- Nail Care
- Others (Sun Care, Baby Care, etc.)
- Adhesives
- Rubber
- Others (Textiles, Lubricants, etc.)
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