The global Butyl Rubber market stood at nearly 900 thousand tonnes in 2022 and is expected to grow at a steady CAGR of 4.09% during the forecast period until 2032.
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.
The biggest force driving the growth of the butyl rubber market is the automotive sector. This is explained due to the heavy usage of butyl rubber in tyre manufacturing by the automobile industry and the rise in interest in tyre composition research. Furthermore, Butyl rubbers also finds its use in the pharmaceutical sector for manufacturing such as rubber products, like closure, caps, stoppers, and seals for pharmaceutical bottles, blood collection tubes, injection bottles, and other infusion containers. The growing healthcare facilities and growing health awareness among population is anticipated to propel the market expansion. Owing to these factors, the Butyl Rubber market is expected to reach 1400 thousand tonnes in 2032.
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.
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.
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.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Butyl Rubber which covers production, demand and supply of Butyl Rubber market in the globe.
• To analyse and forecast the market size of Butyl Rubber
• To classify and forecast Global Butyl Rubber market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Butyl Rubber market in the globe.
To extract data for Global Butyl Rubber market, primary research surveys were conducted with Butyl Rubber manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Butyl Rubber market over the coming years.
ChemAnalyst calculated Butyl Rubber demand in the globe by analyzing the historical data and demand forecast which was carried out considering the raw materials to produce Butyl Rubber. 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 s manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
In this report, Global Butyl Rubber market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.