Global Polyisobutylene Lubricants Market Size (2023-2030)

The Global Polyisobutylene Lubricants Market size is estimated to grow from USD 2.5 Billion in 2022 to USD 3.69 Billion by 2030. The market is witnessing a healthy CAGR of 5% from 2023 to 2030. The increased usage of polyisobutylene lubricants in various industries is the major factor that is driving the growth of the industry.

Industry Overview:

Polyisobutylene is a type of natural polymer that is manufactured via polymerizing isobutylene. They commonly occur as gummy solids and the utility of the polymer depends upon the molecular weight of the polymer. Polymer with low MW, a mixture of oligomers with 500 Ms is used as plasticizer whilst larger Ms like >20000 are parts of adhesives. Polyisobutylene is broadly used in lubricants for modifying/improving the viscosity of the lubricant method to the desired ultimate viscosity. Polyisobutylene, additionally referred to as polyisobutylene, is an artificial rubber or elastomer made from the polymerization of isobutylene. It is an absolutely saturated aliphatic polymer that has broad acceptance in the industrial region due to its super oxidative steadiness and gas barrier properties. Low molecular weight PIBs are used as base oils in the manufacture of artificial lubricants for their special properties of accurate excessive temperature performance, smooth burn-off, and being food safe. Polyisobutylene’s broadly used in purposes where there is a lot of probability for incidental contact of the lubricant with food such as the manufacturing of aluminum foils and cans. The increased use of this material in lubricants industries is estimated to drive the growth of the market during the forecast period 2023-2030.

COVID-19 impact on the Polyisobutylene Lubricants Market   

The Polyisobutylene Lubricant market is badly impacted by the Covid-19 pandemic which started in late 2019 December and still going in many places. The highly contagious disease, prompted by a virus, extreme acute respiratory syndrome coronavirus two (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the ailment has unfolded to nearly 213 international locations around the globe with the World Health Organization declaring it a public fitness emergency on March 11, 2020. Due to the COVID-19 pandemic, many industries, such as automotive, cosmetics, aerospace, and others, confronted unprecedented challenges. For instance, the pandemic has had an extreme impact on the automobile industry internationally owing to disruption in large-scale manufacturing interruptions throughout Europe and the closure of meeting plants in the US. This possibly negatively impacted the demand for polyisobutylene throughout the globe. However, as the economies are reviving their operations, the demand for polyisobutylene is anticipated to develop globally in the coming months. The lubricants market is also estimated to emerge from the pandemic situation during the forecast period due to betterment in the situation and the removal of government rules and regulations.

MARKET DRIVERS:

The increased usage of polyisobutylene lubricants in various industries is driving the growth of the market

The increased usage of polyisobutylene lubricants in various industries is driving the growth of the market, due to its excellent properties, it is used to improve the viscosity of various other liquids which is used in various other industries. Low Molecular weight PIB is used to make artificial lubricants due to its accurate excessive temperature performance, smooth burn-off, and food safe.

MARKET RESTRAINTS:

The quality issues regarding the lubricants are restraining the growth of the market

The quality issues regarding the lubricants are restraining the growth of the market during the forecast period due to the fact that lubricants manufactured by the industries are not up to the mark and sometimes they don’t perform well when used under harsh conditions in various automotive sectors which requires high protection and resistance towards heat and adverse temperature conditions, this factor is restraining the growth of the market during the forecast period.

POLYISOBUTYLENE LUBRICANTS MARKET REPORT COVERAGE:

This research report on the global Polyisobutylene Lubricants Market has been segmented and sub-segmented based on Molecular Weight, Product, Application, and region.

Global Polyisobutylene Lubricants Market - By Molecular Weight:

• Low

• Medium

• High

Based on the Molecular weight, The high phase held the biggest market share in 2022. Polyisobutylene with excessive molecular weight has a common weight of 500,000 to 1,200,000 g/mol. High-molecular-weight polyisobutylene is robust and elastic and is used to regulate properties, including flexibility, elongation, cohesive strength, and fuel barrier performance. These elements are propelling the boom of the market for the segment.

Global Polyisobutylene Lubricants Market - By Product:

• Conventional PIB

• Highly reactive PIB

By Product, the market for the highly reactive PIB phase is predicted to develop at the perfect rate throughout the forecast period. Highly reactive polyisobutylene is an essential intermediate used for the production of high-performance fuel & lubricant additives, together with fuel detergents or dispersants for engine oils, and components for sludge prevention. The adoption of surprisingly reactive polyisobutylene is increasing, owing to greater reactivity in a number of downstream functionalization reactions. Besides, rather reactive polyisobutylene has an array of end uses in a number of industries, such as automotive, packaging, and industrial. These elements are propelling the increase of the market for the segment.

Global Polyisobutylene Lubricants Market - By Region:

• North America

• Europe

• Asia-Pacific

• Latin America

• The Middle East

• Africa

Geographically, demand for polyisobutylene lubricant in the North American market is anticipated to develop due to the presence of established leading car producers such as Tesla Inc. and Ford Motors which are targeted on research and improvement activities. Besides, there is greater demand and manufacturing for giant engine capacity automobiles such as prolonged cabs in the region. The car market is inclined toward light trucks and SUVs, owing to their higher traction in altering climate conditions and off-road capabilities. Also, mild commercial car production in North America is increasing. The car industry of North America is one of the most superior throughout the globe, with great investments in infrastructure, R&D activities, and new manufacturing facilities.

Furthermore, there is a growing demand for polyisobutylene lubricant in the Asia Pacific due to the surging demand from key sectors such as automotive, construction, and aerospace, in economies such as India and China. The developing market in the Asia Pacific owing to the increase in industrial manufacturing is estimated to surge the demand for industrial oil products during the projection period. The chemical and mining sectors are the greatest consumers of industrial lubricants such as hydraulics, centrifuges, compressors, industrial engines, and bearings. Thus, the developing demand from a couple of end-use industries in developed and growing economies is predicted to create profitable growth possibilities for polyisobutylene producers throughout the forecast period.

Global Polyisobutylene Lubricants Market Share by Company

Companies like

1. Braskem SA

2. RB Products, Inc.

3. TPC Group

4. Lanxess

5. Infineum International Ltd.

6. Kothari Petrochemicals

7. Janex

8. ExxonMobil Corporation

9. Berkshire Hathaway Inc.

10. The Lubrizol Corporation

11. Chevron Oronite Company LLC

12. Mayo

And others play a pivotal role in the market. Mergers and acquisitions in the enterprise have enabled players to diversify and decorate their carrier services.

Recently, Daelim Industrial announced an investment in its polyisobutylene plant in Saudi Arabia.

The market is highly fragmented into many players and industries that are trying their best to dominate the market in the automotive section, prominent market players are pursuing a number of strategies, such as strategic joint ventures and partnership agreements, product innovations, lookup & development initiatives, geographical expansions, and mergers & acquisitions, to improve their foothold in the industry. Suppliers are additionally focusing on increasing their product choices to enhance the consumer experience. Developing investments in research and improvement activities and growing the use of polyisobutylene lubricant in more than one end-user enterprise sector such as automotive, construction, electronics, and others are propelling the market increase in this region.

NOTABLE HAPPENINGS IN THE GLOBAL POLYISOBUTYLENE MARKET IN THE RECENT PAST:

• Acquisition - In Feb 2021, BASF SE launched its polyisobutylene product under the brand name OPPANOL C in the North American market.