Press release
Highly Reactive Polyisobutylene Market Is Projected To Reach US$ 697.44 million By 2028
The highly reactive polyisobutylene (HR-PIB) market is growing notably due to the high demand from adhesive/sealant, lubricant, grease, and hydraulic fluid production companies, among others. Companies in the highly reactive polyisobutylene market are adopting strategies such as investments in research and development, and expansion to stand out as strong competitors. These strategies allow them to expand their production capacities to meet the evolving customer demands.The highly reactive polyisobutylene market is projected to reach US$ 697.44 million by 2028 from US$ 508.77 million in 2021, it is expected to grow at a CAGR of 4.6% from 2021 to 2028.
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The market has been segmented on the basis of application into adhesives/sealants, lubricant & grease, hydraulic fluids, metal working fluids, and others. The lubricant & grease segment held the largest share in the market in 2020. HR-PIB is used as an intermediate for lubricant additive manufacturing. It helps enhance the overall performance of lubricants. The flourishment of the automotive and aircraft industries, especially in emerging regions such as Asia-Pacific, boosts the demand for lubricants and grease, in turn, driving the sales of HR-PIB.
In 2020, Asia Pacific held the largest share of the highly reactive polyisobutylene market. This region is one of the prominent markets for HR-PIB owing due to presence of high production facilities for fuel and lubricant additives, such as fuel detergents and dispersants for engine oils. Moreover, government initiatives and policies, such as Make in India, encourage the proliferation of the manufacturing sector in various countries in the region.
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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 highly reactive polyisobutylene market.
The size of overall global highly reactive polyisobutylene market has been derived using both primary and secondary source. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical market insights. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, national sales managers, and external consultants-including valuation experts, research analysts, and key opinion leaders-specializing in the highly reactive polyisobutylene market.
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Reasons for buy this Report
• Highlights key business priorities to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the Highly Reactive Polyisobutylene Market, thereby allowing players to develop effective long term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest to components, type, and end-users.
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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