[Online Quarterly Update] The Butyl Rubber market witnessed a demand of 1.4 million tons in 2020 and is anticipated to grow at a healthy CAGR of 3.9% through the forecast period 2030. 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, and weather stripping. Butyl Rubber is widely used in adhesives and sealants as binders, modifiers, and tackifiers. The life of Butyl Rubber ranges from 5-10 years. Sometimes, these elastomers are blended with other materials such as fillers, antioxidants and oils which enhances their thermophysical and mechanical properties. Chlorobutyl rubber and Bromobutyl Rubber are examples of the improvised form of Butyl Rubber. To improve the resistance against reversion and to increase the cure rate, the hexane solution of Butyl Rubber is halogenated with chlorine to form Chlorobutyl or Bromine to form Bromobutyl Rubber. These improvised forms of Butyl Rubber find applications in airbags, roofing membranes, air conditioning hoses, vials and tubes, shoe soles and other tire applications. The market is segmented into different types on the basis of its components such as Regular Butyl Rubber, Chlorobutyl Rubber, and Bromobutyl Rubber. Growing demand for Chlorobutyl rubbers and regular rubbers in the automotive sector is expected to boost its market growth in the forecast period. On the basis of its applications, the major end use industries include Automotive, Rubber, Pharmaceutical Industry, Consumer Goods, Construction, and Others. However, the fluctuations in the prices of feedstock used for manufacturing Butyl Rubber may act as a major market restraint in the predicted years.
In the first half of 2020, the sudden outbreak of the COVID-19 pandemic, led to the imposition of nationwide lockdowns by the major global economies to control the spread of the virus. It resulted into the slowdown in industrial operations due to raw material scarcity, labor shortage, etc. that subsequently impacted the growth of many industries worldwide. In the first wave of covid-19 pandemics, Construction and Automobile sectors were drastically hit due to halt in the infrastructural activities, transportation restrictions and disturbance in the demand and sales of automobiles that resulted in a decline in the demand for Butyl Rubber. However, in the latter half of 2020, an improvement in the demand for Butyl Rubber is witnessed due to the speedy recovery in the automobile, construction and other end-use industries and is projected to grow at a significant rate over the forecast years.
Region wise, Asia Pacific accounted for the maximum share of the Butyl Rubber market followed by North America due to the growing automotive sector and ongoing construction projects in the region. Additionally, in the APAC region, countries such as South Korea, Japan, China and India are among the leading tire manufacturers in the world and thereby projected to fuel the market growth of Butyl Rubber in the forthcoming years. Moreover, China is a manufacturing hub of Consumer Goods and Electronics which is also likely to drive the market for Butyl Rubber over the forecast period.
The leading players of Butyl Rubber market are Lanxess AG, Huntsman International LLC., Reliance Industries Ltd., ExxonMobil Chemical Co., Japan Butyl Company, Ineos Group AG, Kiran Rubber Industries Pvt. Ltd., Eni S.p.A., Royal Dutch Shell Plc., LyondellBasell Industries Holdings B.V., TPC Group, SABIC Chemicals Company, and Others.
Years Considered for this Report:
Historical Years: 2015 – 2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022 – 2030
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Objective of the Study:
• The primary objective of the study was to evaluate and forecast the Butyl Rubber capacity, production, demand, inventory, and demand–supply gap globally.
• To categorize Butyl Rubber demand based on End Use, Type, Region, and Distribution channel
• To identify major customers of Butyl Rubber globally.
• To evaluate and forecast Butyl Rubber pricing globally.
• To identify and profile major companies operating globally Butyl Rubber market.
• To identify major news, deals and expansion plans globally Butyl Rubber market.
To extract data for Global Butyl Rubber market, primary research surveys were conducted with Butyl Rubber manufacturers, suppliers, distributors, wholesalers and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, Chemanol’s was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, chemicals analyzed various end user segments and projected a positive outlook for Global Butyl Rubber market over the coming years.
ChemAnalyst calculated Butyl Rubber demand globally by analyzing the historical data and demand forecast which was carried out considering the Application industries growth. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Butyl Rubber manufacturers and other stakeholders
• Organizations, forums and alliances related to Butyl Rubber distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders, such as Butyl Rubber manufacturers, distributors and policymakers. The report also provides useful insights about which market segments should be targeted over the coming years to strategize investments and capitalize on growth opportunities.
Report Scope:
In this report, the Global Butyl Rubber market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
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Attribute
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Details
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Market size volume in 2020
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1.4 million tons
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Growth Rate
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CAGR of 3.9% from 2021 to 2030
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Base year for estimation
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2020
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Historic Data
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2015 – 2019
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Forecast period
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2021 – 2030
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Quantitative units
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Revenue in USD million/billion and CAGR from 2021 to 2030
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Report coverage
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Revenue forecast, demand & supply, competitive analysis, competitive landscape, growth factors, and trends
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Segments covered
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1. End Use: (Automotive, Rubber, Pharmaceutical Industry, Consumer Goods, Construction and Others)
2. Type: (Regular Butyl Rubber, Chlorobutyl Rubber, and Bromobutyl Rubber)
3. Distribution Channel (Direct/Institutional Sales, Other Channel Sales)
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Regional scope
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North America; Europe; Asia Pacific; South America; Middle East & Africa
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Country scope
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United States; Mexico; Canada; China; India; Japan; South Korea; Taiwan; Singapore; Germany; Belgium; France; United Kingdom; Spain; Italy; Sweden; Austria; Saudi Arabia; Iran; South Africa; Brazil; Argentina
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Key companies profiled
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Lanxess AG, Huntsman International LLC., Reliance Industries Ltd., Exxonmobil Chemical Co., Japan Butyl Company, Ineos Group AG, Kiran Rubber Industries Pvt. Ltd., Eni S.p.A., Royal Dutch Shell Plc., LyondellBasell Industries Holdings B.V., TPC Group, SABIC Chemicals Company, and Others.
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Customization scope
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Free report customization with purchase. Addition or alteration to country, regional & segment scope.
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Pricing and purchase options
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Available Customizations:
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
In case you can’t find what, you are looking for then please get in touch with our custom research team at sales@chemanalyst.com
