According to ChemAnalyst report, “Global Butyl Rubber Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, 2015-2032” The global Butyl Rubber market is expected to grow and reach nearly 1400 thousand tonnes by 2032 at a CAGR of 4.09% during the forecast period. The rising demand for Butyl Rubber from Tyre and Inner Tube, Pharmaceutical Closures, Construction, Adhesives and Sealants end-use industries is expected to increase the demand for Butyl Rubber in the forecast period.
Butyl Rubber is also called isobutylene-isoprene rubber (IIR Rubber) as it is manufactured by the copolymerization of isobutylene and isoprene. It is a synthetic rubber, with valuable properties such as flexibility, chemical inertness, good shock absorption, low gas and moisture permeability, excellent weather & abrasion resistance coupled with the resistance against ozone and oxygen attack. These elastomeric and significant properties of the elastomer make it a suitable material for inner tubes and vacuum or high-pressure applications under environmental conditions. Apart from inner tubes of tires and high pressure tubes, other applications of Butyl Rubbers are gaskets, diaphragms, O-rings, Seals, Liners, wires and cables, hot melts, bottle closures, caulks, etc. Butyl Rubber is widely used in adhesives and sealants as binders, modifiers, and tackifiers.
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The automobile industry is the main factor propelling the butyl rubber market’s expansion. This is explained by the automobile industry’s extensive use of butyl rubber in tyre manufacturing and the growing interest in tyre composition research. Moreover, butyl rubbers are employed in the pharmaceutical industry for the production of rubber goods such as closures, caps, stoppers, and seals for pharmaceutical bottles, blood collection tubes, injection bottles, and other infusion containers. It is projected that expanding healthcare facilities and rising public health consciousness will augment the market growth.
The global Butyl Rubber market is segmented based on end-use, sales channel, and region. Based on the end-user industry, the global Butyl Rubber market is segmented into Tyre and Inner Tube, Pharmaceutical Closures, Construction, Adhesives and Sealants, and Others. Among these, the Tyre and Inner Tube sector is dominating the Butyl Rubber market and captured more than 82% of the market in 2022. Because of its low permeability in comparison to other rubbers, Butyl Rubber is used to make tyres. For commercial trucks, bicycles, industrial and speciality tyres, regular butyl rubber is often used that offers excellent inflation pressure retention. By chemically bonding the air-retaining inner liner to the tyre body, butyl rubber can create tubeless tyres that are more durable.
Regionally, the Asia Pacific region is dominating the Butyl Rubber market followed by Europe. This region held a market share of approximately 52% in 2022. Developing countries such as South Korea, Japan, China and India are among the leading tyre manufacturers in the world, which is the reason causing high demand for butyl rubber in these countries. Growing automotive and construction activities are anticipated to bolster the market growth in future. Moreover, China is a manufacturing hub of consumer goods, electronics, and automobiles which is also likely to drive the market for Butyl Rubber over the forecast period.
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“Global Butyl Rubber Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, 2015-2032” Major players in the production of Global Butyl Rubber are ExxonMobil, Arlanxeo (Saudi Amarco), Japan Butyl Co. Ltd, SINOPEC Beijing Yanshan Company, Formosa Synthetic Rubber Corporation, Tolyattikauchuk (SIBUR), Shandong Chambroad Petrochemicals Co., Ltd, China Petrochemical Corporation, Nizhnekamskneftekhim, Sabic & ExxonMobil JV, and Others.
“Steadily growing demand for Butyl Rubber to manufacture inner tyre tubes and tubes coupled with significantly rising sale of automotives with rising population is likely to augment Butyl Rubber market growth in the forecast period until 2032. Its properties such as good compression, flexibility, chemical inertness, good shock absorption, low gas and moisture permeability, excellent weather & abrasion resistance, drives the applications in numerous downstream industries including tyres & tubes and adhesives. Increasing construction and transportation sector in fast-growing economies are accelerating the demand for Butyl Rubber, which will most likely augment the growth of Butyl Rubber market in the forthcoming years. “Said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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