Butyl rubber market was valued at USD 2.53 billion in 2020. Butyl rubber is a kind of polymer or synthetic rubber and has various chemical and physical features.
It is attached to two monomers, isobutylene and isoprene. There are many applications for butyl rubber including high flexibility, biocompatibility, (specific) air and gas tightness, good vibration damping, good weatherability, and chemical and thermal resistance.The superior properties of the product compared to natural rubber, in terms of tear resistance, aging and heat resistance, are predicted to provide a positive possibility of market expansion during the forecast period.
The growing call for automotive tires for new vehicles and the replacement of old tires are driving the demand in the butyl rubber market. The escalatingcall for OEM tires due to the expansion of the automotive industry is supposed to increase the business value in the coming years. The worldwide butyl rubber market is likely to show tremendous growth in the near future due to its escalatingcall for various applications. Normally, butyl rubber contains 98% polyisobutylene and 2% isoprene which are randomly distributed in the polymer chain. Due to the exceptional characteristics of the butyl rubber product, including excellent moisture and gas permeability and exceptional heat resistance and aging stability, it is preferred over conventional rubbers.
Lanxess recently began operations in its new modern butyl rubber factory in Singapore.
Lehigh launched new butyl rubber extensions. The US eco-friendly materials company Lehigh Technologies has introduced two new micronized butyl-based rubber powders.
The growing call for vehicle tires and tubes is positively reflected in the global butyl rubber market. The escalatingcall for OEM tires is predicted to boost market expansion in the coming years due to the developments in the automotive industry. Call for raw materials, including butyl rubber, has escalated dramatically with the continued expansion of the automotive industry in developing economies. In countries such as China, Mexico and India, sales of passenger and utility vehicles are booming due to the increase in purchasing power in these countries. Also, the emergence of an existing tire recycling industry is an incentive for commercialization. In the coming years, the increasingcall for butyl rubber for moisture protection and roof repair is expected to drive demand in the international butyl rubber market. Additionally, call is estimated to be driven by the use of food grade butyl rubber in food applications.
Environmental impact and sustainability have become the main issues in the industry, as butyl rubber is derived from petrochemicals. However, factors such as fluctuating raw material costs, regulation of volatile organic compound (VOC) contamination from rubber processing, and availability of alternatives are likely to threaten the development of the butyl rubber marketin the future. Commodity price volatility and government policies affecting the price of butyl rubber threaten the butyl rubber industry. The rubber content has been improved by the anti-dumping duty on carbon black rubber products. Butyl rubber is difficult to process during processing due to its ability to trap air and flow. Environmental concerns are another challenge for the industry, which is why exposure to contaminants in rubber manufacturing remains a major health concern. It has a low tolerance to aliphatic sugars and aromatic hydrocarbons.
In addition, as part of corporate social responsibility, industry players are seeking to find new ways to reduce/mitigate the ecological harm caused by butyl rubber production and this is foreseen to encourage butyl rubber marketexpansion patterns in the near future. The growing call for butyl rubber for damp proofing and roof repairing is estimated to fuel the expansion of this market in the coming years. Butyl rubber is employed in the explosives industry for the manufacture of plastic explosives. The growingcall for butyl rubber as a binding agent in explosives along with the rising call for explosives from the mining industry will propel this industry demand through the forecast period.
The negative impact of air pollution caused by isobutylene production is a source of great concern to the global butyl rubber market.
The bromobutyl class accounted for a comparatively higher market share in 2020. During the foreseen period, the segment is supposed to experience a CAGR of 5.21% and exceed a market valuation of USD 2.2 billion. The escalating use of butyl bromine in large-scale industries, such as automotive and pharmaceuticals is supplementing to this growth.
The largest market share is in the hands of tires and tubes and the trend is expected to continue during the envisioned period. The segment is likely to reach a value of USD 4 billion by the end of 2026. The expansion of the segment is supported by the escalating development of the automobile together with the developments in the aerospace industry. Currently, the butyl rubber market is concentrated in the field of tire and tube supply. In the age of foreseeing, the tire and tube segment is likely to remain incredibly lucrative.
The Butyl Rubber Market Report includes the segmentation of Regions:
The highest share in the butyl rubber market is represented by the Asia Pacific (APAC). The region's industry was worth more than $ 1.5 billion in 2020. During the projection period, the region is predicted to remain highly lucrative for butyl rubber. Rapid industrial development is one of the key factors in the expansion of the region's economy. In terms of car production, China leads the world, which is substantially positive for the regional butyl rubber market. Also, in countries such as India and China, the growing call for passenger and utility vehicles is also driving the market for butyl rubber in the locale. The continued expansion of APAC's industries, such as automotive, aerospace, pharmaceutical and construction, strengthens its position as a major business destination for industry players. North America is one of the main markets for butyl rubber.
New US reforms have accelerated the pace of industrialization throughout the country, which, over the projected horizon, should offer favorable prospects for business expansion. In 2019, the United States had the largest market share in North America. The presence of various hospitals, medical institutions and clinics, combined with customer awareness for health care, is anticipated to drive the product market in medical glove application. Industries like pharmaceuticals, manufacturing and the automotive industry have been hit hard by tough government restrictions combined with an economic downturn. The region's expansion rate is likely to be low compared to the Asia Pacific and North America due to a slowdown in the applications industry.
Although the Coronavirus pandemic aims to transform the development of multiple sectors, the immediate effect of the epidemic is mixed. While some sectors are reporting a reduction in call, many others will remain unscathed and present good expansion prospects. The outlook for worldwidevehicle sales for 2020 is complicated in the COVID-19 sense. The butyl rubber industry has been impacted by the pandemic, where much of making production has been halted for time being. In fact, the market and the supply chain have also been affected, limiting expansion.
The major players covered in the butyl rubber market report are
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Butyl Rubber Market, By Type
6.1.2 Intoregular Butyl
6.1.4 Market Size Estimations & Forecasts (2021-2026)
6.1.5 Y-o-Y Growth Rate Analysis
6.1.6 Market Attractiveness Index
6.2 Butyl Rubber Market, By Application
6.2.1 Tyres and Tubing
6.2.2 Adhesives and Sealants
6.2.3 Industrial and Medical Gloves
6.2.5 Market Size Estimations & Forecasts (2021-2026)
6.2.6 Y-o-Y Growth Rate Analysis
6.2.7 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By Type
7.2.3 By Application
7.3.1 By Country
18.104.22.168 Rest of Europe
7.3.2 By Type
7.3.3 By Application
7.4 Asia Pacific
7.4.1 By Country
22.214.171.124 South Korea
126.96.36.199 South East Asia
188.8.131.52 Australia & NZ
184.108.40.206 Rest of Asia-Pacific
7.4.2 By Type
7.4.3 By Application
7.5 Latin America
7.5.1 By Country
220.127.116.11 Rest of Latin America
7.5.2 By Type
7.5.3 By Application
7.6 Middle East and Africa
7.6.1 By Country
18.104.22.168 Middle East
7.6.2 By Type
7.6.3 By Application
8. Key Player Analysis
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Exxon Mobil Corporation
8.3 TPC Group
8.4 Huntsman International LLC
8.5 Evonik Industries AG
8.7 Timco Rubber
8.8 Reliance Industries Limited
8.9 Eastman Chemical Company
8.10 Formosa Plastics Corporation
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures