The global butyl rubber market has the potential to grow by USD 853.29 million during 2020-2024, and the market’s growth momentum will accelerate throughout the forecast period because of the steady increase in year-over-year growth.
This report provides a detailed analysis of the market by application (tire, medical application, adhesives and sealants, and others) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including ARLANXEO, China Petrochemical Corp., Exxon Mobil Corp., Goodyear Rubber Co., JSR Corp., Panjin Heyun Industrial Group Co. Ltd., PJSC Nizhnekamskneftekhim, PJSC SIBUR Holding, Reliance Sibur Elastomers Pvt. Ltd., and Zhejiang Cenway New Materials Co. Ltd.
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The butyl rubber market is currently concentrated, and the degree of concentration will remain the same during the forecast period. The various developments in end-user industries are expected to create several growth opportunities for vendors in the butyl rubber market. ARLANXEO, China Petrochemical Corp., and Exxon Mobil Corp. are a few of the major market participants. Although the increasing demand for synthetic rubber will offer immense growth opportunities, the recovering natural rubber market will challenge the growth of the market participants. To increase their butyl rubber market share, companies should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market positions, this butyl rubber market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this butyl rubber market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading butyl rubber manufacturers, including:
APAC was the largest market for butyl rubber in 2019, and the region will continue to offer maximum growth opportunities to market vendors during the forecast period. Factors such as increasing production of rubber and rising demand for tires from the automotive industry are contributing to the butyl rubber market growth in this region.
Almost 60% of the market’s growth will originate from APAC during the forecast period. China is an important market for butyl rubber in APAC. Market growth in this region will be faster than the growth of the market in other geographies.
Butyl rubber is widely used in the production of tires and tire products, including treads, sidewalls, breakers, and carcass. Thus, the increasing demand from the automotive industry will be one of the significant factors driving the growth of the butyl rubber market by the tire segment.
Market growth by the tire segment will be faster than the growth of the market by the medical application, adhesives and sealants, and other segments. This report provides an accurate prediction of the contribution of all the segments to the growth of the butyl rubber market size.
Butyl Rubber Market: Key Drivers and Trends
The increasing demand for synthetic rubber is one of the key factors driving the growth of the butyl rubber market. The need for synthetic rubber, including butyl rubber, styrene-butadiene rubber, and butadiene rubber, is increasing in several end-user industries, such as packaging and healthcare. The advantageous characteristics of synthetic rubber, such as superior resistance to heat and abrasion and slow aging effect, make it ideal for use in various applications of end-user industries. It is widely used to manufacture tires, door and window profiles, hoses, belts, matting, and flooring. The volatility in natural rubber prices is also driving end-users to shift from natural rubber to synthetic rubber. Furthermore, the demand for synthetic rubber from the automotive industry is increasing. These factors are expected to boost the growth of the butyl rubber market during the forecast period.
The increasing demand from the medical and healthcare sector has been identified as one of the critical butyl rubber market trends.
Allergic reactions caused by the proteins present in natural rubber have increased the demand for butyl rubber for various applications in the medical and healthcare sectors.
Butyl rubber is free from protein and fatty acids present in natural rubber, which helps in preventing incidences of allergies, odor, discoloration, and other biocompatibility issues.
Dip molded medical devices manufactured using butyl rubber also possess distinctive properties, such as low tensile set properties, high resilience, and high elongation.
Butyl rubber is also used in the production of infusion bottles, intravenous (IV) bags, and vials.
With the increasing population, the dependence on the medical and healthcare sectors will also grow.
During 2020-2024, the butyl rubber market will grow at a CAGR of over 3%.