Butyl Rubber Market - Global Industry Analysis, Size, Share, Growth, Trends 2024
Global Butyl Rubber Market: Overview
The
global butyl rubber market is anticipated to display considerable
growth in the near future due to its rising demand for several
applications. Typically, butyl rubber contains 98% polyisobutylene and
2% isoprene that are randomly spread in the polymer chain. Due to the
exceptional product characteristics of butyl rubber, which includes
excellent permeability to moisture and gases and outstanding heat
resistance and ageing stability, they are preferred over conventional
rubbers.
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The
market study assesses market indicators, growth trends, and product
innovations that will impact the growth of the global butyl rubber
market over the forecast period.
Global Butyl Rubber Market: Drivers and Restraints
Butyl
rubber is expected to exhibit significant growth over the forecast
period owing to its superior properties including exceptional resistance
to chemical, ozone, and weather. Though initially developed for tire
applications, butyl rubber is increasingly being used in other sectors
such as healthcare, consumer products, and adhesives.
Butyl
rubber is used in several end-user applications such as adhesive and
automotive. The enhanced damping property of butyl rubber accounts for
its huge demand in the tire industry. Furthermore, the increasing demand
for butyl rubber in the manufacture of plastics is expected to propel
this market in the coming years.
The
growing demand for butyl rubber for damp proofing and roof repairing is
expected to fuel the growth of this market in the coming years. In
addition, the use of food grade butyl rubber in food applications is
expected to propel demand.
Butyl
rubber is used in the explosives industry for the manufacture of
plastic explosives. The increasing demand for butyl rubber as a binding
agent in explosives along with the rising demand for explosives from the
mining industry will propel its demand over the forecast period.
Furthermore, butyl rubber can be added to diesel fuel to withstand
fouling of fuel injectors. Last but not the least, increasing
environmental considerations for regulating hydrocarbon and particulate
matter emissions is expected to fuel market growth.
However,
factors such as fluctuating raw material prices, regulations for
volatile organic compound (VOC) emissions due to rubber manufacturing,
and availability of substitutes are expected to challenge the market’s
growth in the future.
Global Butyl Rubber Market: Regional Outlook
The
butyl rubber market is broadly divided into: North America, Europe,
Asia Pacific, and Rest of the World. Amongst these, Asia Pacific is the
largest market for butyl rubber due to the expansion of the tire and
tubes industry at an unprecedented pace. China and India display the
highest consumption of butyl rubber in Asia Pacific. Some other
important consumers of butyl rubber in the region include Malaysia,
Vietnam, Hong Kong, Macau, Indonesia, Australia, and Republic of Korea.
North America and Europe will display moderate growth as the butyl rubber is significantly used for several applications.
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Global Butyl Rubber Market: Competitive Landscape
Some
of the key players in the global butyl rubber market include ExxonMobil
Chemical, Japan Butyl Company, Nizhnekamskneftekhim JSC, Timco Rubber,
Togliattikauchuk Ltd, Lanxess AG, Yanhua Petrochemical Company, Kiran
Rubber Industries Pvt. Ltd., and Reliance Industries Ltd. among others.
Amongst these, Lanxess AG and ExxonMobil Chemical account for the
majority of the butyl rubber production.
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