Vancouver, Oct. 30, 2023 (GLOBE NEWSWIRE) -- The global Hydrogenated Polyisobutylene (PIB) market size was USD 18.58 Billion in 2022 and is expected to register a revenue CAGR of 4.6% during the forecast period.This growth is attributed to several key factors driving the market, primarily the increased demand for cosmetics and personal care products, the rise in automotive production, and the growing adoption of PIB-based adhesives and sealants for various applications.
Hydrogenated polyisobutylene is a versatile oil base used in various cosmetic applications, such as lip gloss, sunscreen, and foundation, which helps enhance the longevity and appearance of these products on the skin. Its eco-friendly and sustainable properties are contributing to its increasing usage in the cosmetics and personal care industry. Major companies are investing in the development of sustainable cosmetic products with hydrogenated polyisobutene, contributing to market growth.
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However, the market does face challenges, including the availability of cost-effective alternatives and the high production costs associated with hydrogenated polyisobutene. Additionally, eco-friendly substitutes like phytoleo hydragloss are gaining popularity, which might restrain the market's revenue growth.
Product Type Insights: Emollients Lead the Way
The emollient segment within the global Hydrogenated Polyisobutylene (PIB) market is expected to dominate, accounting for the largest share of revenue over the forecast period. Research indicates that hydrogenated polyisobutene can provide long-lasting moisture retention and a silky, smooth feel to the skin, making it a preferred choice for skin-conditioning agents, emollients, and nonaqueous viscosity-increasing agents in cosmetic formulations.
The recent introduction of Panalane L-2E (INCI: Hydrogenated Polyisobutene) further drives the growth of this segment.
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End-Use Insights: Cosmetics & Personal Care Take the Lead
The cosmetics and personal care segment is poised to experience rapid revenue growth during the forecast period. Hydrogenated polyisobutene's versatility in cosmetic formulations, where it serves as an emollient and waterproofing agent, is a key driver of this growth. It helps preserve the skin's natural moisture barrier, prevents moisture evaporation, and enhances the texture of skincare products. Moreover, its ability to prevent color clumping in cosmetics ensures a smooth and pleasant application.
On the other hand, the adhesives and lubricants segment is expected to maintain a steady revenue CAGR. Hydrogenated Polyisobutylene (PIB) is used as a starting material in Pressure-Sensitive Adhesives (PSAs), offering benefits such as stability to oxidation, tackiness, flexibility, and weak cohesive strength. These properties make it a preferred choice for many adhesive formulations.
Regional Insights: North America Leads the Way
North America emerged as the leader in the global Hydrogenated Polyisobutylene (PIB) market in 2022, primarily due to the rapid growth of the retail sector in the U.S. and Canada. This growth has led to an increased demand for cosmetic formulations that emphasize sustainable quality. The launch of new cosmetic products by major companies further boosts the demand for cost-effective ingredients like hydrogenated polyisobutylene.
In Europe, the market is expected to experience rapid revenue growth as hydrogenated polyisobutene is extensively used in the research and development of cosmetic formulations.
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Scope of Research
| Report Details | Outcome |
| Market size in 2022 | USD 18.58 Billion |
| Volume Units in 2022 | XX Units |
| CAGR (2023–2032) | 4.6% |
| Revenue forecast to 2032 | USD 28.99 Billion |
| Base year for estimation | 2022 |
| Historical data | 2019–2021 |
| Forecast period | 2023–2032 |
| Quantitative units | Revenue in USD Billion and CAGR in % from 2023 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Product type, application, end-use, and region |
| Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Country scope | U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA |
| Key companies profiled |
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| Customization scope |
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Major Companies and Competitive Landscape
The global Hydrogenated Polyisobutylene (PIB) market is fairly fragmented, with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing new solutions and services. Some major players included in the global Hydrogenated Polyisobutylene (PIB) market report are:
- BASF SE
- INEOS
- TPC Group
- Janex SA
- Chevron Phillips Chemical Company LLC.
- KRATON CORPORATION
- Infineum International Limited.
- The Lubrizol Corporation.
- The Innovation Company
- Evonik.
Strategic Development.
- On 17 November 2022, Rhode Skin announced the launch of its Peptide Lip Treatment, which is described as a restorative lip treatment that locks in moisture for naturally full, pillowy-soft lips. The product is manufactured of hydrogenated polyisobutene, while the container is created from recycled post-consumer materials.
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Segments Covered in Report
For the purpose of this report, Emergen Research has segmented the global Hydrogenated Polyisobutylene (PIB) market on the basis of product type, end-use, and region:
- Product Type Outlook (Revenue in USD Billion & Volume in Thousand Units; 2019-2032)
- Emollient
- Viscosity Increasing Agent
- Plasticizer
- Others
- End-Use Outlook (Revenue in USD Billion & Volume in Thousand Units; 2019-2032)
- Cosmetics & Personal care
- Adhesives & Lubricants
- Rubber
- Textiles
- Others
- Electronics
- Others
- Regional Outlook (Revenue in USD Billion & Volume in Thousand Units; 2019–2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of MEA
- North America
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