by Market Overview:
Hydrogenated polyisobutene is a synthetic polymer which finds wide applications in personal care products like skin cream, lotions and sunscreens as an emollient. It acts as an occlusive agent to hold moisture and form a skin protective film without clogging pores. In cosmetics industry, hydrogenated polyisobutene is used as thickening and viscosity controlling agent. It is valued for properties like supple texture, spreadability and moisture retention in formulas.
Market Dynamics:
Growing demand for non-toxic and natural based ingredients in cosmetics and personal care products is a key factor driving growth of hydrogenated polyisobutene market. Consumers are preferring formulations with short ingredient list containing familiar plant-derived components over chemical-sounding ingredients. Additionally, increasing health awareness has led manufacturers to focus on natural alternatives. This shifts focus towards eco-friendly products and fuels adoption of hydrogenated polyisobutene derived from plant sources like rice bran oil. Also, swift urbanization and rising disposable incomes in developing economies is creating growth opportunities for personal care industry. This will subsequently propel consumption of hydrogenated polyisobutene as functional ingredient.
Segment Analysis
Hydrogenated Polyisobutene Market is dominating by Viscosity Index Improvers with 51.5% share of the market. Viscosity Index Improvers enhances the viscosity of oil lubricants over a wide range of temperatures to provide better engine protection. The high demand for enhanced vehicle protection from engine wear has increased the demand for Viscosity Index Improvers.
PEST Analysis
Political: Government regulations around the usage of environment-friendly products is driving the demand for eco-friendly options of Hydrogenated Polyisobutene. Many countries have mandated use of bio-based lubricants.
Economic: The growing automotive industry globally is fueling the demand for Hydrogenated Polyisobutene which finds major application as Viscosity Index Improvers in automotive lubricants. Rise in disposable income is increasing the sales of vehicles.
Social: Increasing consumer awareness about high-performance lubricants is driving the use of additives like Hydrogenated Polyisobutene for enhanced engine protection. Customers prefer automotive products offering better durability and fuel-efficiency.
Technological: Manufacturers are focusing on developing bio-based and environment-friendly varieties of Hydrogenated Polyisobutene using green chemistry techniques to comply with stringent regulations.
Key Takeaways
The Global Hydrogenated Polyisobutene Market Share is expected to witness high growth, exhibiting CAGR of 4.7% over the forecast period 2023 to 2030, due to increasing demand for high-performance automotive lubricants. The market size for 2023 is estimated to be US$ 19.02 Mn.
The Asia Pacific region dominates the global market with over 35% share owing to large automotive manufacturing industry in China and India. Rising vehicle production in these countries is driving regional growth.
Key players operating in the Hydrogenated Polyisobutene market are A&E Connock, BASF SE, Elementis PLC, Glenn Corporation, Henan Tianfu Chemical Co. ltd, INEOS Oligomers, NOF America Corporation, Sensient Cosmetic Technologies, SOPHIM, The Innovation Company, and UPI Chem. Leading players are focused on new product launches with improved properties to strengthen their global presence.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
