According to our latest study on “Asia Pacific Highly Reactive Polyisobutylene Market Forecast to 2028 – COVID-19 Impact and Analysis – by Application,” the 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. The report highlights trends prevailing in the market, and the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as increasing use of HR-PIB in high performance fuel and lubricant additive production and proliferation of automotive sector. However, availability of substitute is hamper the market growth.
Based on application, the Asia Pacific Methanol market is segmented into adhesives/sealants, lubricant and grease, hydraulic fluids, metal working fluids, and others. In 2020, the lubricant and grease segment held the largest share in the Asia Pacific highly reactive polyisobutylene market. The lubricant such as engine oils, transmission oils, gear oils, greases, and compressor oils are highly consumed in automotive, aircraft, marine, and machinery industries. HR-PIB is used as an intermediate for lubricant additive manufacturing. It helps to enhance the overall performance of lubricants.
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. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
The market for Asia Pacific Methanol market is segmented into application. Based on application, the Asia Pacific Highly Reactive Polyisobutylene market is segmented into adhesives/sealants, lubricant and grease, hydraulic fluids, metal working fluids, and others. Geographically, the Asia Pacific Highly Reactive Polyisobutylene market is segmented into Asia Pacific (Australia, China, India, Japan, South Korea and Rest of APAC).
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