Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Butyl Rubber market.
Trusted Business Insights presents an updated and Latest Study on Butyl Rubber Market 2020-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Butyl Rubber market during the forecast period (2020-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Get Sample Copy of this Report @ Global Butyl Rubber Market: Executive Summary on Trends, Latest Developments, Growth Drivers & Risks, Favourite Brands, and Regional Leaders Overview (Includes Business Impact of COVID-19)
The global Butyl Rubber market is expected to be valued at approximately US$ 5 Bn in 2019 and is expected to register a CAGR of 5.8%. The report offers in-depth insights, revenue details, and other vital information regarding the global butyl rubber market and the various trends, drivers, restraints, opportunities, and threats in the target market till 2028. The global butyl rubber market report has been segmented on the basis of product type, application, and region.
Global Butyl Rubber Market: Introduction
Butyl rubber is a synthetic or polymer rubber having different physical and chemical properties. Butyl rubber is associated with two monomers isobutylene and isoprene. Butyl rubber possesses different properties such as high flexibility, biocompatibility, air tight and gas impermeability, high heat and chemical resistance, and good weathering and vibration damping. In addition, butyl rubber is mainly used in numerous applications including medical stoppers, automotive tubes, production of additives, sealants, electrical fluids, mechanical goods, lubricants, tires, medicine bottles, and others.
Global Butyl Rubber Market: Dynamics
Growing construction and pharmaceutical industries and automotive sector across the globe and rising adoption of butyl rubber across various industries in many applications including consumer products, automotive, healthcare, and others. These are major factors expected to fuel growth of the global butyl rubber market over the forecast period. In addition, growing demand for tubeless tire liners and tire tubes in developing countries due to increasing vehicle pool and rising automotive production across different countries. These are other factors projected drive growth of the target market.
Increasing demand for flooring adhesives and sealant tapes in different construction applications resulting in rising adoption of butyl rubber in construction sector across the globe. This is a key factor expected to boost growth of the global butyl rubber market during the forecast period. In addition, increasing demand for butyl rubber for manufacturing of gaskets across different industrial applications such as piping support, flange gaskets to prevent leakage of liquids, and pipe saddles. This is another factor projected to support growth of the target market in the near future.
Furthermore, rising adoption of butyl rubber for electrical and marine applications and growing demand for butyl rubber as a binding agent in explosives, coupled with increasing demand for explosives from the mining industry. These are some other factors expected to boost growth of the global market over the forecast period.
Moreover, increasing adoption of medical gloves across clinics, veterinary medical care, and hospitals due to rising patient hygiene and safety concerns. Growing demand for disposable gloves from healthcare, food & beverages, and other industries. Increasing adoption of butyl rubber in manufacturing of gaskets, automotive vibration control, and hoses due to excellent properties associated with butyl rubber such as high damping, resistance to heat, resistance to ozone, and others. These are among other factors expected to drive growth of the target market in the next 10 years.
Furthermore, easy availability of butyl rubber substitutes in the market and changing raw material prices are major factors expected to hamper growth of the global butyl rubber market to a certain extent. In addition, isobutylene is colorless gas and has slight petroleum-like odor. Contact with it can cause frostbite, and other health related issues. Negative effects and impacts associated with isobutylene. These are challenging factors that may affect growth of the target market.
Growing automobile industry across various countries such as India, Japan, China, Canada, US, and others and rising adoption of tires in automobile industry. These are some factors expected to create potential revenue opportunities for market players operating in global butyl rubber market over the forecast period.
According to the International Organization of Motor Vehicle Manufacturers:
Overall production of passenger vehicles in the US was approximately 3,033,216 Units, and commercial vehicles was approximately 8,156,769 Units in 2017
Overall production of passenger vehicles in China was approximately 24,806,687 Units, and Units of commercial vehicles was approximately 4,208,747 in 2017
Overall production of passenger vehicles in Japan was approximately 8,347,836 Units, and Units of commercial vehicles was approximately 1,345,910 in 2017
Ongoing trend observed in the global butyl rubber market is increasing acquisitions, mergers, and other strategic initiatives by major players.
In March 2019, Michelin Corporation announced that it has acquired 88% share in PT Multistrada Arah Sarana TBK (Multistrada), which is a tire manufacturer based in Indonesia, in a deal settled at approximately US$ 480 Mn
In November 2018, new plant named PT Synthetic Rubber Indonesia (SRI), which is a joint venture between Michelin and PT Chandra Asri Petrochemical Tbk was inaugurated
In April 2018, the Goodyear Tire & Rubber Company announced forming of a tire distribution joint venture with Bridgestone Americas, Inc. in the US, which was to be named TireHub, LLC. This venture was formed to increase presence of the company and to provide US tire dealers and retailers with a comprehensive range of passenger and light truck tires.
Global Butyl Rubber Market Analysis by Product Type:
On the basis of product type, the market is segmented into regular butyl, bromobutyl, and chlorobutyl. Currently, the chlorobutyl segment dominates in the global market in terms of CAGR and is expected to maintain its dominance over the forecast period. In addition, the chlorobutyl segment is expected to register CAGR of over 5.8%.
Global Butyl Rubber Market Analysis by Distribution Channel:
On the basis of application, the market is segmented into tires & tubes, industrial & medical gloves, adhesives & sealants, pharmaceutical & healthcare, and others. Currently, the tires & tubes segment dominates in the global market in terms of CAGR and is expected to maintain its dominance over the forecast period. In addition, the tires & tubes segment is expected to register CAGR of over 5.5%.
Global Butyl Rubber Market Analysis by Region:
Based on the region, the global market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
The market in Asia Pacific is expected to account for major revenue share in the global butyl rubber market in 2019. In addition, growing automotive industry and high presence of automotive manufacturers in countries such as India, China, Japan, and Indonesia in the region. Growing demand for new vehicles and increasing replacement of old tires are major factors expected to boost growth of the target market in the Asia Pacific region.
Furthermore, increasing adoption of butyl rubber across various sectors including aeronautics, pharmaceuticals, construction, and others and high adoption of medical gloves across hospitals, veterinary medical care organizations, and clinics. These are some other factors projected to drive growth of the butyl rubber market in the Asia Pacific region.
The market in North America is expected to account for second-highest share in terms of revenue followed by market in Europe. Increasing demand for butyl rubber across various industries such as pharmaceuticals, automotive, adhesives, and others and high adoption of medical and industrial gloves in countries such as US, Canada, Germany, France, and UK in these regions. In addition, increasing demand for butyl rubber in various applications such as sealing, medicine bottles packaging, mechanical goods, tubeless tire liners, and others is a key factor projected to support growth of the butyl rubber market in the North America and Europe regions.
Market Segmentation of Global Butyl Rubber Market:
Segmentation by Product Type:
- Regular Butyl
Segmentation by Application:
- Tires & Tubes
- Industrial & Medical Gloves
- Adhesives & Sealants
- Pharmaceutical & Healthcare
- Others (Consumer products, medical stoppers, vibration mounts, rubber roof repair)
Key Market Players included in the report: Global Butyl Rubber Market
- Exxon Mobil Corporation (ExxonMobil Chemical Company, Inc.)
- Lanxess AG
- Timco Rubber Products, Inc.
- JSR Corporation
- Kiran Rubber Industries
- Reliance Industries Ltd.
- Eastman Chemical Company
- China Petrochemical Corporation
- Michelin Corporation
- The Goodyear Tire & Rubber Company
Key Insights Covered: Global Butyl Rubber Market
1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Butyl Rubber industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Butyl Rubber industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Butyl Rubber industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Butyl Rubber industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Butyl Rubber industry.
Research Methodology: Global Butyl Rubber Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
Quick Read Table of Contents of this Report @ Global Butyl Rubber Market: Executive Summary on Trends, Latest Developments, Growth Drivers & Risks, Favourite Brands, and Regional Leaders Overview (Includes Business Impact of COVID-19)
Trusted Business Insights
Media & Marketing Executive
Email Me For Any Clarifications
Connect on LinkedIn
Click to follow Trusted Business Insights LinkedIn for Market Data and Updates.
US: +1 646 568 9797
UK: +44 330 808 0580