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Polybutene Market: Information by Application (Adhesives, Cosmetics, Electrical Insulation, Fuel and Lubricant Additives, Lubricants, Others), Region (North America, Asia-Pacific, Latin America, Middle East & Africa) — Global Forecast till 2023
Polybutene Market Research Report – Global Forecast till 2023
Polybutene is used as binder, epilating agent, emulsifier and viscosity increasing agent in cosmetic and personal care products. It is significantly replacing mineral oil from cosmetic products such as lipstick, skin care and eye makeup. Due to its hydrogenated polyisobutene function like conditioning skin. Purchase of skin care and personal care products are increasing owing to shift in consumer grooming habits and increase in number of skin diseases.
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For instance, International Trade Administration reported that United States cosmetics exports to Australia increased from USD 29.36 Million in 2014 to USD 31.39 Million in 2015 and around USD 55.63 Million in 2014 to USD 53.77 Million in 2015 at India. Rise in cosmetic exports is expected to fuel polybutene demand during forecast period.
Increasing consumers awareness regarding sanitation and hygiene maintenance is projected to accelerate the demand of polybutene in personal care and cosmetic products. Growing chronic diseases and environmental pollution across the globe have positively influenced consumer perception regarding sanitization and personal hygiene, favoring polybutene market growth. Furthermore, unsafe hygiene practices negatively affect human health and impact child mortality rates.
According to world health organization in 2015, over 3,40,000 children under age five die annually from diarrhea owing to poor sanitation, unsafe drinking water and poor hygiene. United Nations International Children's Emergency Fund (UNICHEF) in 2015, reported that around 4.5 billion people lack sanitation services. Thus, such trends exhibit that in coming years personal hygiene and sanitization products is expected to witness huge demand positively impacting the global polybutene market growth by 2023.
Market Segmentation
The global polybutene market has been segmented on the basis of application and region. By application the global polybutene market is divided into adhesives, cosmetics & personal care, fuel & lubricant additives, lubricants and electrical insulation. The adhesive segment held significant market share in 2017 and is projected to dominate in coming years owing to rise in consumption at food packaging, disposable soft goods products, labels and tapes.
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Regional Analysis
Asia-Pacific led the global polybutene market with healthy CAGR owing to growing application in cosmetic & personal care industry. Rising population and disposable income in the region have fuel market growth for cosmetic and personal care products favoring polybutene market. Moreover, North America market is estimated to witness substantial growth in term of CAGR owing to rising application of polybutene in fuel and lubricants additive owing to US government initiative to achieve higher fuel economy couple with expanding automotive industry.
Fuel and lubricant additive enhance the efficiency of industrial and automotive. Thus, recent trend of developing the speed ability and fuel efficiency of automotive vehicle is expected to boost the polybutene application in automotive industry.
Competitive Analysis
Some of the leading players in the global polybutene market are BASF SE (Germany), Dongfang Hongye Limited Company (China), DAELIM (South Korea), INEOS (UK), Lubrizol Corporation (U.S.), LyondellBasell Industries Holdings B.V. (The Netherlands), Mitsui Chemicals, Inc. (Japan), TPC Group (U.S.), Ylem Technology Co., Ltd. (South Korea), Braskem (Brazil), KEMAT Polybutenes (Belgium), SOLTEX (U.S.), Maharasthra Polybutenes Ltd (India), A S Harrison & Co Pty Limited (Australia) and Kothari Petrochemicals (India).
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