Global Butyl Rubber Market, By Type (Regular Butyl, Brominated Butyl, Chlorinated Butyl), Application (Adhesives, Sealant for Rubber Roof Repair, Tubeless Tire Liners, Medicine Bottles, Mechanical Goods, Others), End-User (Automotive Industry, Pharmaceutical Industry, Consumer Products, Rubber Industries, Construction Industries, Others) – Industry Trends and Forecast to 2029
Market Analysis and Size
Over the years, butyl rubber has been expanding significantly and the expansion rate is projected to accelerate over forecast period. The major key players are focusing on developing innovative materials and high-grade butyl rubber. For instance, to improve fuel efficiency, the manufacturers developed halo-butyl rubber. The application of halo-butyl in tire treads improves dynamic properties such as rolling resistance and wet and dry traction. Therefore, the accelerated pace of developments and innovations within the market will aid the market to gain traction.
Global Butyl Rubber Market was valued at USD 3.57 billion in 2021 and is expected to reach USD 5.30 billion by 2029, registering a CAGR of 5.05% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
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Butyl rubber is a type of polymer or synthetic rubber and has different chemical and physical properties. It is linked with two monomers, isobutylene and isoprene. There are numerous butyl rubber applications, including high flexibility, biocompatibility, air tight and gas impermeability (specific), good vibration damper, good weathering, and chemical and heat resistance.
- In July 2021, MRF, the world's largest tyre manufacturer, has stated that it is considering developing raw materials with domestic partners in order to reduce reliance on imports. The company collaborates with domestic sources to develop raw materials such as sulphur, butyl rubber, microcrystalline wax, and tackifier resin as part of the import replacement programme.
- In May 2021, Local voters have approved PJSC Nizhnekamskneftekhim (NKNH) proceeding with a technical re-equipment. The company held a public hearing on April 30 to discuss the project's dimensions and environmental impact assessment. As part of the technical improvement, NKNH will reduce butyl rubber production at its production site and convert a 50 kilotonne per annum capacity to halobutyl rubber, a major raw material for tyre manufacturing. The decision was made in response to rising demand for environmentally friendly and cost-effective tubeless tyres.
- In August 2020, Cenway finished a butyl rubber upgrade project in Panjin, Liaoning province, and began production on August 18. According to local government, the synthetic rubber manufacturer established a wholly owned subsidiary in Panjin last December called Panjin Cenway New Materials. As per the official document, Cenway acquired butyl rubber facilities in the city, and the upgrade project took three months to complete.
Global Butyl Rubber Market Scope
The butyl rubber market is segmented on the basis of type, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Regular Butyl
- Brominated Butyl
- Chlorinated Butyl
- Sealant for Rubber Roof Repair
- Tubeless Tire Liners
- Medicine Bottles
- Mechanical Goods
- Automotive Industry
- Pharmaceutical Industry
- Consumer Products
- Rubber Industries
- Construction Industries
Butyl Rubber Market Regional Analysis/Insights
The butyl rubber market is analyzed and market size insights and trends are provided by country, type, application and end-user as referenced above.
The countries covered in the butyl rubber market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the rapid industrial development within the region. China leads the world in automobile production, which bodes well for the country's Butyl Rubber Industry. Furthermore, rising demand for passenger and commercial vehicles in countries such as India and China is boosting the region's butyl rubber market.
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