Market size of highly reactive polyisobutylene worth $ 697.44 million, globally, by 2028 at 4.6% CAGR

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Market size of highly reactive polyisobutylene worth $ 697.44 million, globally, by 2028 at 4.6% CAGR

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Insight Partners

Insight Partners

The market size of highly reactive polyisobutylene is projected to reach $ 697.44 million by 2028 from $ 508.77 million in 2021; it is expected to grow at a CAGR of 4.6% from 2021 to 2028.

New York, March 17, 2022 (GLOBE NEWSWIRE) – The Insight Partners has published the latest research study on “Highly Reactive Polyisobutylene Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by application (adhesives / sealants, lubricants and grease, hydraulic fluids, metalworking fluids and others) “, the global growth of the highly reactive polyisobutylene market is driven by the increasing use of reactive polyisobutylenes (HR-PIBs) in the production of additives for high performance fuels and lubricants and the proliferation of the automotive sector.

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Report coverage

Details

Market size Value in

$ 508.77 million in 2021

Market size value of

$ 697.44 million by 2028

Rate of growth

CAGR of 4.6% from 2021 to 2028.

Forecast period

2021-2028

Reference year

2021

No. of pages

119

No. Tables

31

No. of graphs and figures

60

Historical data available

Yes

Segments covered

Application

Regional scope

North America; Europe; Asia-Pacific; Latin America; MEA

Country Scope

United States, United Kingdom, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

Report coverage

Turnover forecasts, company rankings, 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 major market players in the global highly reactive polyisobutylene market.

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Key developments:
In 2018, BASF PETRONAS Chemicals introduced a new HR-PIB production facility with a total annual capacity of 50,000 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 detergents and fuel dispersants, for motor oils mainly contributes to the growth of the highly reactive polyisobutylene market in the region. In addition, the rise of industrialization and construction in the APAC region is driving the demand for machinery and equipment for manufacturing plants, hydraulic fluids and sealants are widely used in these industries. HR-PIB has excellent sealing properties such as shrinkage reduction. The dominance of the automotive industry in the region is driving demand for lubricants and grease, which results in increased consumption of highly reactive polyisobutylene in APAC. In recent years, the major players in the Asia Pacific market have invested heavily in research and development.

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The proliferation of the automotive sector stimulates the growth of the highly reactive polyisobutylene market:
The demand for dispersants and detergents in the automotive industry has increased dramatically over the past decades. China continues to be the largest auto market in the world in terms of annual sales and production, while India is one of the largest auto markets. According to the India Brand Equity Foundation (IBEF), the country was the seventh largest producer of commercial vehicles in 2019. It is also a major automobile exporter that further focuses on achieving strong export growth in the near future. To keep up with the growing demand, several car manufacturers are investing heavily in various segments of the industry. The huge growth of the automotive sector in North America further contributes to the growth of the market in the region. As HR-PIB finds applications in the production of fuel and lubricant additives, sealants, adhesives and greases, among others, the flourishing of the automotive sector creates a strong demand for them, which is spurring market growth.

Highly Reactive Polyisobutylene Market: Segment Overview
Based on the application, the market is segmented into adhesives / sealants, lubricants and greases, hydraulic fluids, metalworking fluids and others. The lubricants and greases segment held the largest share of the market in 2020. HR PIB has many other value-added benefits, including less carbon generation during production and the ability to improve the final performance of the lubricant and fuel. . HR PIB is widely used as an additive to fuels and lubricants to improve overall performance due to its higher reactivity than conventional polyisobutylene.

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Impact of the COVID-19 pandemic on the market Highly reactive polyisobutylene:
The COVID-19 pandemic caused significant economic loss around the world in 2020 and early 2021. Governments of various countries have announced nationwide lockdowns to limit the spread of SARS-CoV-2, which has had a direct impact on the growth of the industry sector. The automotive sector is a major consumer of human resource GDP. China is a leading automotive market in terms of production and consumption. A drop in demand in this market has led to a drop in human resource GDP demand. However, various sectors, including the automotive industry, began resuming their activities from the fourth quarter of 2020, which ultimately triggered the demand for human resources GDP.

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Who we are:
The Insight Partners is a single provider of actionable intelligence research. We help our clients find solutions to their research needs through our syndicated research and consulting services. We specialize in industries such as semiconductors and electronics, aerospace and defense, automotive and transportation, biotechnology, health informatics, manufacturing and construction, medical devices, technology, media and telecommunications, chemicals and materials.

Contact us:
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Contact Person: Sameer Joshi
Email: sales@theinsightpartners.com
Phone: + 1-646-491-9876
Press release: https://www.theinsightpartners.com/pr/highly-reactive-polyisobutylene-hr-pib-market

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