According to ChemAnalyst report, “India Butyl Rubber Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, Foreign Trade, FY2015-FY2030”, India Butyl Rubber Market is likely to grow at a CAGR of 4.78% during the forecasted period by FY2030. The end-user industries of Tyre & Tube and Pharmaceuticals are anticipated to project the Butyl Rubber Market expansion in India in the forthcoming years.
Butyl Rubber is a copolymer of isobutylene and isoprene. It is a synthetic rubber which is also known as Isobutylene Isoprene Rubber (IIR). Butyl Rubber displays properties like superior weather resistance, heat, and chemical resistance, and air retention which makes its better in comparison to other general-purpose rubbers. Butyl rubber has various niche applications such as automotive inner tubes, tyre curing bladders, air bags, wire and cable, rubber sheets, pharmaceutical closures, ball bladders, sealants, roofing membranes, condenser packaging, printing wraps, acid tank liners, and more.
Excellent properties of butyl rubber drive its application to manufacture tyres for automobiles. The booming manufacturing of tyres for both domestic and international sales is what is driving the Indian tyre business. Also, the tyre business benefits from the rising car ownership caused by growing urbanisation and the rise of income in the middle-class people. The government’s plan to spend INR 18,000 crores to improve public bus transportation is anticipated to boost market expansion. These factors are anticipated to contribute towards the growth of Butyl Rubber demand in the forecast period. One of the he major uses of Butyl Rubber is to produce Polyisobutylene (PIB). The homopolymer of isobutylene, or 2-methyl-1-propene, on which butyl rubber is based is polyisobutylene, also referred to as PIB or polyisobutene, (C4H8)n, which is required for the manufacturing fuel additives.
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Furthermore, the demand for Butyl Rubber is increasing to produce Polyisobutenylsuccinic Anhydride (PIBSA) from Polyisobutylene (PIB), which is further required to produce additives for lubricating oils and motor fuels. Butyl Rubber has the properties that can remove the oil mist from the engines in the automotive and increase the oil’s viscoelasticity when added to the motor fuels and lubricating oils. Additionally, demand for Butyl Rubber to manufacture cleaners that are very efficient in removing oil spills further contributes to the market. Other booming application of Butyl Rubber is in the manufacture of sealants that can be used in rubber roof repairs and damp proofing. Butyl Rubber has become a popular option for surrounding of speakers rather than foams as it has become a more cost-efficient option for sealing sound leakage in automotives.
India Butyl Rubber Market is segmented based on end-use, sales channel, and region. Based on end-use, India Butyl Rubber Market is divided into Tyre & Tube, Pharmaceuticals, Others. As of FY2023, the Tyre & Tube industry is dominating the Butyl Rubber market with a share of 94%. With the growth in vehicle production and sale, the demand for tyres is anticipated to fuel the butyl rubber demand across the nation.
Geographically, India Butyl Rubber Market is segregated into North, South, East, and West. In the historic period of FY2015-FY2023, West India has been dominating the market. In FY2023, West India consumed approximately 37% of the market. Currently, India is majorly dependent on imports for butyl rubber. The domestic demand is satisfied by importing goods from other nations. Reliance industries Limited in partnership with SIBUR has developed a joint venture, Reliance Sibur Elastomers Private Limited, situated in Jamnagar, India, which caters some percentage of butyl rubber demand in India.
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“India Butyl Rubber Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, Foreign Trade, FY2015-FY2030” Only producer in the India Butyl Rubber market include Reliance Sibur Elastomers Private Limited. 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.
“Growing demand for Butyl Rubber to fabricate tyres and tubes due to its properties like heat & chemical-resistance retention in comparison to other rubbers is anticipated to swell the demand for butyl rubber in the forecast period. Owing to fast-paced industrialization and modernization across India, the growing rate of sale of vehicles is anticipated to projects a greater demand Butyl Rubber in the forecast period till FY2030. Currently Reliance Sibur Elastomers Private Limited is the only manufacturer of Butyl Rubber in India and rest of the demand is met via imports. The growing supply-demand gap of butyl rubber in the upcoming years due to its unique characteristics and applications opens up the chances of new rubber manufacturers to enter the market in the forecast period. “Said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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