New York, March 17, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Highly Reactive Polyisobutylene Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Application (Adhesives/Sealants, Lubricants & Grease, Hydraulic Fluids, Metal Working Fluids, and Others)”, the global highly reactive polyisobutylene market growth is driven by the increasing use of highly reactive polyisobutylenes (HR-PIB) in high-performance fuel and lubricant additive production, and the proliferation of the automotive sector.
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| Report Coverage | Details |
| Market Size Value in | US$ 508.77 million in 2021 |
| Market Size Value by | US$ 697.44 million by 2028 |
| Growth rate | CAGR of 4.6% from 2021 to 2028. |
| Forecast Period | 2021- 2028 |
| Base Year | 2021 |
| No. of Pages | 119 |
| No. Tables | 31 |
| No. of Charts & Figures | 60 |
| Historical data available | Yes |
| Segments covered | Application |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Highly Reactive Polyisobutylene Market: Competitive Landscape and Key Developments
TPC Group; RB PRODUCTS INC.; BASF PETRONAS Chemicals Sdn. Bhd; Shandong Hongrui New Material Technology Co., Ltd; Daelim Co., Ltd.; Chevron Corporation; The Lubrizol Corporation; KEMAT Polybutenes; Weifang Binhai Petro-chem Co., Ltd.; and Nelson Brothers Incorporated are among the key market players in the global highly reactive polyisobutylene market.
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Key Developments:
In 2018, BASF PETRONAS Chemicals introduced new plant for the production of HR-PIB with a total annual capacity of 50,000 metric tons at its integrated site in Gebeng, Kuantan, Malaysia.
In 2019, Daelim Industrial announced an investment in its polyisobutylene plant in Saudi Arabia.
In 2020, Asia Pacific held the largest share of the highly reactive polyisobutylene market. The growing production of fuel and lubricant additives, such as fuel detergents and dispersants, for engine oils are mainly contributing to the highly reactive polyisobutylene market growth in the region. Further, the increase in industrialization and construction in the APAC region is driving the demand of machineries and equipment for manufacturing facilities, hydraulic fluids and sealants are widely used in this industries. HR-PIB has excellent sealant properties such as reducing shrinkages. The dominance of automotive industry in the region is driving the demand for lubricants and grease, which results in surge in consumption of highly reactive polyisobutylene in APAC. In recent years, the major market players in Asia Pacific have invested heavily in R&D activities.
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Proliferation of Automotive Sector Boosts Highly Reactive Polyisobutylene Market Growth:
Demand for dispersants and detergents in the automobile industry has increased notably in the last few decades. China continues to be the world’s largest vehicle market in terms of annual sales and manufacturing outputs, while India is one of the largest automobile markets. According to the India Brand Equity Foundation (IBEF), the country was the seventh-largest manufacturer of commercial vehicles in 2019. It is also a prominent automobile exporter that further focuses on attaining strong export growth in the near future. To keep up with the growing demand, several automakers are investing heavily in various segments of the industry. The tremendous growth of the automotive sector in North America further contributes to the market growth in the region. As HR-PIB finds applications in the production of fuel and lubricant additives, sealants, adhesives, and greases, among others, the flourishment of the automotive sector creates a high demand for the same, which is boosting the market growth.
Highly Reactive Polyisobutylene Market: Segmental Overview
Based on application, the market is segmented into adhesives/sealants, lubricants & grease, hydraulic fluids, metal working fluids, and others. The lubricants & grease segment held the largest share in the market in 2020. HR PIB possesses several other value-added advantages, including less char generation during manufacturing, and the ability to enhance final lubricant and fuel performance. HR PIB is extensively used as a fuel and lubricant additive to improve the overall performance due to its greater reactivity than conventional polyisobutylene.
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Impact of COVID-19 Pandemic on Highly Reactive Polyisobutylene Market:
The COVID-19 pandemic caused a significant economic loss across the globe in 2020 and early 2021. Governments of various countries announced country-wide lockdowns to restrict the spread of SARS-CoV-2, which had a direct impact on the growth of the industrial sector. The automotive sector is one of the major consumers of HR PIB. China is a leading automotive market in terms of production and consumption. A decline in demand in this market has led to lowered demand for HR PIB. However, various industries, including the automotive industry, began resuming their operations from Q4 2020, which eventually triggered the demand for HR PIB.
Browse Adjoining Reports:
Polyisobutylene Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Molecular Weight (Low, Medium, and High), Product (Conventional PIB and Highly Reactive PIB), Application (Tires, Industrial Lubes and Lube Additives, Fuel Additives, Adhesives and Sealants, and Others), and End-Use Industry (Industrial, Food, and Others)
Medium Molecular Weight Polyisobutylene Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Grade (Industrial Grade, Food Grade); Application (Sealant, Adhesive, Lubricant Greases, Rubber Modifier, Gum Base, Others.); End Use Industry (Automotive, Construction, Packaging, Electrical and Electronics, Food and Beverages, Others.) and Geography
Polyisobutenyl Succinic Anhydride (PIBSA) Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Technology (Heating Adduction Technology, Free Radical Technology); Application (Polyisobutylene Succinimide, Emulsifying Agents, Others) and Geography
Lubricant Additives Market Forecast to 2028 - Covid-19 Impact and Global Analysis - By Type (Dispersants, Viscosity Index Improvers, Detergents, Anti-Wear Additives, Antioxidants, Corrosion Inhibitors, Friction Modifiers, Extreme Pressure (EP) Additives, Pour Point Depressant (Ppd) , Emulsifiers, Others) ; Application (Automotive Lubricants Additives, Industrial Lubricant Additives) and Geography
Hydraulic Fluid Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Base Oil (Mineral Oil, Synthetic Oil, Semi-Synthetic Oil, Bio-Based Oil); Application (OEM, Mining Equipment, Construction Equipment, Transportation, Oil and Gas, Metal Production, Food and Beverage, Others) and Geography
Synthetic Ester Lubricant Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Dibasic, Aromatic, PAG, PAO, Others); Application (Hydraulic Oils, Metal Working Fluids, Diesel and Engine Oils, Gear Oils, Turbine Oils, Others); End User (Metal Production, Cement Production, Power Generation, Automotive Manufacturing, Marine, Oil and Gas, Others) and Geography
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