Highly reactive polyisobutylene is an important intermediate product used for the production of high-performance fuel and lubricant additives, such as dispersants for engine oils or fuel detergents, including additives for sludge prevention. Highly reactive polyisobutylene is the basis for high-performance lubricant additives that allow for more fuel-efficient engine designs. Over the past few years, different production techniques and numerous catalysts utilized to manufacture highly reactive polyisobutylene have emerged as an important subject for research and development activities. Adoption of Highly reactive polyisobutylene is on the rise, owing to higher reactivity in various downstream functionalization reactions. In addition to this, growing investments by major players operating in the market is expected to boost the market growth.
Growth of Automotive Sector to Boost the Global Highly Reactive Polyisobutylene Market
The demand for dispersants and detergents in the automobile industry has increased notably in the past few decades. China continues to be the world’s largest vehicle market in terms of annual sales and manufacturing outputs. India is also one of the largest automobile markets. According to the India Brand Equity Foundation (IBEF), India was the seventh-largest manufacturer of commercial vehicles in 2019.The country is also a prominent automobile exporter, and it further focuses on attaining strong export growth in the near future. To keep up with the growing demand, several automakers are investing heavily in various segments of the industry. In addition, several initiatives by the Government of India and major automobile players in the Indian market are contributing to the growth of the automotive sector in the country. The tremendous growth of the automotive sector in North America further contributes to the highly reactive polyisobutylene market growth in the region. The US and Canada have a strong and well-established automotive infrastructure, including manufacturers and R&D centers. Mexico also has a strong automotive sector, and it is the world’s largest passenger vehicle manufacturer. Further, the sector has played and continues to play a critical role in the economic development of Italy. As HR-PIB finds applications in the production of fuel and lubricant additives, sealants, adhesives, and greases, among others, the flourishment of the automotive sector, in turn, creates a high demand for the same, thereby boosting the market growth.
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 major market players operating in the Highly Reactive Polyisobutylene market. These companies offer their products worldwide, which helps them in catering to a wider customer base. These major players in the market are highly focused on the development of high-quality and innovative products to fulfill the customer’s requirements. Over the past few years, the companies operating in the market have realized the immense potential pertaining to the Highly Reactive Polyisobutylene market and were highly involved in strategies such as mergers & acquisitions and product launches. For instance, in January 2019, Daelim Industrial announced that it would invest in the operation of a Polyisobutylene plant in Saudi Arabia. Furthermore, these players are focusing on a market penetration strategy to retain their customers and to enhance their strategic position in the global market.
