Asia Pacific Highly Reactive Polyisobutylene Market

The Asia Pacific highly reactive polyisobutylene market is projected to reach US$ 251.56 million by 2028 from US$ 179.75 million in 2021; it is expected to grow at a CAGR of 4.9% from 2021 to 2028.

Players operating in the market in this region increasingly focus on ramping up their production capacities to meet future customer demands by making significant investments. They are implementing plans to set up additional capacities for highly reactive polyisobutylene synthesis. In January 2018, BASF PETRONAS Chemicals began a new plant in Kuantan, Malaysia, for the production of highly reactive polyisobutylene. The new plant, which is likely to address the local market needs, is supported by a strong backward integration of raw materials. In 2019, Saudi Aramco and Total announced an agreement with Daelim, a South Korean petrochemical company, to build a new polyisobutylene facility. As per the Memorandum of Understanding (MoU) between these companies, Daelim is planning to build a new state-of-the-art PIB plant with a capacity of 80,000 tons. The companies are likely to being the new plant in operations in 2024. This specialty chemical project will be using Daelim’s PIB proprietary technology to produce a wide range of products, from conventional PIB (CPIB) to HR-PIB, in a single plant. Hence, the growing focus of market players to escalate their capacities of HR-PIB production will offer huge growth opportunities to them in the coming years.

With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the highly reactive polyisobutylene market in Asia Pacific at a notable CAGR during the forecast period.

Asia Pacific Highly Reactive Polyisobutylene Market  Revenue and Forecast to 2028 (US$ Million)

Asia Pacific Highly Reactive Polyisobutylene Market Segmentation 

The Asia Pacific highly reactive polyisobutylene market, by application, is segmented into adhesives/sealants, lubricant and grease, hydraulic fluids, metal working fluids, and others. In terms of country, the market in this region is further segmented into the Australia, China, India, Japan, South Korea, and Rest of APAC.

Asia Pacific Highly Reactive Polyisobutylene Market Companies

TPC Group, BASF SE,Shandong Hongrui New Material Technology Co.Ltd. ,Daelim Co.ltd ,Chevron Corporation , The Lubrizol Corporation , Weifang Binhai Petro –chem co.ltd , Nelsons Brothers Incorporated are among the leading companies in the Asia Pacific Highly Reactive Polyisobutylene market.

Asia Pacific Highly Reactive Polyisobutylene Market Strategic Insights

Asia Pacific Highly Reactive Polyisobutylene Market Segmentation Analysis

Asia Pacific Highly Reactive Polyisobutylene Market Report Highlights

Asia Pacific Highly Reactive Polyisobutylene Report Scope

Asia Pacific Highly Reactive Polyisobutylene Market Country and Regional Insights