Global Hydrogenated Polyisobutene Market is estimated to be valued at US$ 17.33 Million in 2021, according to the Global Hydrogenated Polyisobutene Market Report, by Function (Emollient, Viscosity Increasing Agent, Plasticizer and Others (Extruders, etc.)), by End-use Industry (Cosmetics & Personal Care (Skin Care (Inc. Lipstick), Hair Care, Eye Care, Nail Care and Others (Sun Care, Baby Care, etc.)), Adhesives, Rubber and Others (Textiles Lubricants, etc.)), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East & Africa), published by Coherent Market Insights.
Global hydrogenated polyisobutene market was valued at US$ 17.33 Million in 2021. The market is expected to register a CAGR of 4.75% over the forecast period (2022–2030). The market for hydrogenated polyisobutene is majorly driven by the various benefits such as low toxicity of hydrogenated polyisobutene coupled with an increasing number of regulatory approvals. There are many products in the cosmetics industry that use hydrogenated polyisobutene as part of their formulations. For instance, a moisturizer named Nuance by Salma Hayek Tinted Moisturizer contains hydrogenated polyisobutene in addition to sodium hyaluronate, glycerin, tocopherol, lecithin, and titanium dioxide. Aqualia Thermal Dynamic Hydration Rich Cream, by Vichy Laboratories also contains hydrogenated polyisobutene. This cream is designed to hydrate the skin, reduce wrinkles, and improve the general health of the skin. These factors are expected to drive the growth of the global hydrogenated polyisobutene market during the forecast period.
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Key Trends and Analysis of the Global Hydrogenated Polyisobutene Market:
- On the basis of function, the global hydrogenated polyisobutene market is segmented into emollient, viscosity increasing agent, plasticizer and others (extruders, etc.). The emollient and viscosity increasing agent segments are expected to gain traction during the forecast period owing to the use of these products in cosmetic formulations as binders and their skin conditioning properties. Therefore, the growing use of cosmetics and personal care products is expected facilitate growth of the emollient and viscosity increasing agent segments.
Key Takeaways of the Global Hydrogenated Polyisobutene Market:
- Asia Pacific is also expected to exhibit significant growth rate during the forecast period owing to the booming cosmetics & personal care industry in the region. Moreover, in a study conducted by the International Trade Administration (ITA), in 2021, Skincare products account for 53% of the Japanese cosmetics market. Moreover, there are around 3,000 beauty care companies in Japan. Thus, high demand for personal care and cosmetic products is contributing to the growth of the hydrogenated polyisobutene market.
- New product launches, merger & acquisitions and strategic partnership expansion are key strategies adopted by players in the global hydrogenated polyisobutene market. For instance, in August 2021, Cosrx launched its collection of lip products to meet the high demand of lip products in post COVID era. These products contain hydrogenated polyisobutene along with the other ingredients.
