by The hydrogenated polyisobutene market consists of hydrogenated isobutene oligomer mixtures that are colorless, odorless, and viscous liquids. Hydrogenated polyisobutene finds wide applications in personal care and cosmetic products as an emollient and thickening agent. It provides a smooth glossy surface to products such as lipsticks, creams, lotions, and foundations. The key advantages include non-greasy feel, spreadability, skin compatibility, and oxidative stability. Growing awareness about personal grooming and changing lifestyles has fueled the demand for cosmetic products worldwide.
The Global Hydrogenated Polyisobutene Market is estimated to be valued at US$ 17.33 Mn in 2024 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030.
Key Takeaways
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. These companies are focusing on new product launches and expanding their production facilities to meet the growing demand.
The rising working women population and increasing spending on personal grooming especially in Asia Pacific and Middle East are driving the demand for cosmetic products containing hydrogenated polyisobutene. The increasing demand from skin and hair care applications is further propelling the market growth.
Major players are investing in expanding their production facilities across regions like North America, Europe, and Asia Pacific to leverage growth opportunities. Growing cosmetic industry in emerging economies of China, India, Brazil is attracting global manufacturers.
Market key trends
One of the key trends gaining traction in the hydrogenated polyisobutene market is its increasing usage in sun care products owing to its UV protection properties. It can be used as a stable base for sunscreen formulations. The growing emphasis on sun protection is contributing to the rising applications of hydrogenated polyisobutene in sunscreens and daily moisturizers with SPF. This is expected to drive the product demand over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat is moderate as the capital requirements are moderate and technologies are not unique. However, established brands create customer loyalty.
Bargaining power of buyers: The bargaining power is high as the product is used as an ingredient and buyers can easily switch to substitutes.
Bargaining power of suppliers: The bargaining power is moderate as raw materials required are readily available from multiple suppliers.
Threat of new substitutes: The threat is high as other synthetic oils are available that can be used for similar applications at competitive prices.
Competitive rivalry: The rivalry is high due to the presence of many global and regional players competing on the basis of product quality, prices, and innovation.
Geographically, North America holds the largest share in the global hydrogenated polyisobutene market in terms of value. This is attributed to the high demand from major end-use industries such as cosmetics, pharmaceuticals, and food in countries like the US and Canada. The Asia Pacific region has shown the fastest growth rate over the past few years due to rapid industrialization, growing consumerism, and rising disposable incomes in countries like China, India, Japan, and South Korea. Major application industries utilizing hydrogenated polyisobutene are present across countries like India, Indonesia, Thailand, Malaysia, and Vietnam providing ample opportunities in this region.
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1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
