HighlyReactive Polyisobutylene (HR-PIB) Market: Introduction
In terms ofvalue, the global highly reactivepolyisobutylene (HR-PIB) market is anticipated to expand ata CAGR of 5% from 2020 to 2030 andreach value of ~US$ 550 Mn by 2030. Interms of demand, Asia Pacific led the global HR-PIB market in 2019 andthe same trend is anticipated to continue between 2020 and 2030.In recent years, key players have been progressively opting for environmentallysustainable additives. This factor is expected to augment the demand for HR-PIBduring the forecast period, for its effectiveness and greener profile ascompared to the conventional polyisobutylene (PIB).
Highly Reactive Polyisobutylene(HR-PIB) Market: Key Drivers and Restraints
HR-PIBforms the basis for production of high-performance lubricant additives, whichallows for more fuel-efficient engine designs. HR-PIB serves as an importantintermediate in the manufacture of high-performance fuel and lubricantadditives for engine oils, transmission oils, hydraulic fluids, greases,emulsifiers, adhesives, etc. HR-PIB-based lubricants and fuel additives havethe ability to improve the overall performance of vehicles by reducingemissions. Thus, the global HR-PIB market is expected to be driven by therising demand for high-performance fuel additives in automotive and aviationindustries between 2020 and 2030. HR-PIB offers barrier properties, highdamping and heat aging, and resistance to ozone, which makes it ideal forcontrol of vibrations in automobiles. HR-PIB is projected to emerge as aneffective substitute for the conventional PIB during the forecast period. Bothconventional PIB and HR-PIB have similar applications, including adhesives andsealants, lubricants and greases, metalworking, cosmetics, and mining. However,HR-PIB has been increasingly sought after in modern manufacturing practices,owing to its higher effectiveness as compared to conventional PIB. The demandfor HR-PIB is rising at a rate higher than polyisobutylene (PIB), due toperformance advantages associated with HR-PIB.
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HighlyReactive Polyisobutylene (HR-PIB) Market: Key End-use Industries
HR-PIB isused across a broad array of applications. However, fuel & lubricantadditives, hydraulic fluids, and greases & emulsifiers were the keyapplication segments in 2019. Theadhesives & sealants segment is estimated to hold a significant share ofthe global HR-PIB market, in terms of demand, by 2030. Hot meltadhesives are widely employed in packaging applications such as corrugatedboards, case sealing, carton sealing, container labeling, and tray forming.Based on end use, the global HR-PIB market has been segmented into automotive,industrial, packaging, and others. The industrial segment dominated the globalHR-PIB market in 2019. HR-PIB islikely to witness high demand from key industries such as construction,aviation, marine, healthcare, and cosmetics & personal care during theforecast period.
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Asia Pacific to be Highly LucrativeRegion of Highly Reactive Polyisobutylene (HR-PIB) Market
In terms ofvalue, Asia Pacific held more than 30% share of theglobal HR-PIB market in 2019. With thegrowth of automotive, healthcare, and personal care industries and the increasein infrastructure development activities in China, Japan, India, Malaysia,Vietnam, and Indonesia, Asia Pacific is likely to constitute a major share ofthe global HR-PIB market between 2020 and 2030.
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Competition Landscape
Majormanufacturers of HR-PIB include: BASF SE, PETRONAS, TPC Group, Daelim, andKEMAT Polybutenes. HR-PIB manufacturers have made notable investments in therecent years. For instance, in January 2019,Aramco and Total announced to have concluded a memorandum of understanding(MoU) with Daelim, a South Korea-based company. As per the MoU, Daelim wouldbuild a polyisobutylene (PIB) downstream plant with the capacity of 80,000tons/year for the Amiral project by 2024.
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