In the next ten years, the butyl rubber market is anticipated to expand on the back of digital transformation. Digital tools and technologies are now being adopted by the chemical industry as they show to be a financially sound way to increase efficiency from the hitherto used incumbent processes. Additionally, this would support the development of fresh procedures and goods. In the upcoming years, chemical vertical would proceed in this manner.
Many chemical substitutes have entered the chemicals’ market, these help in eradicating hazards related to usage dangerous materials. This indirectly helps boost overall valuation of chemical and materials industry in various ways.
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Butyl rubber is a synthetic rubber manufactured by the copolymerization of isobutylene with isoprene. Butyl rubber is mostly used in the tires and tubes industry. A new research report by Persistence market Research highlights the overall scenario as well as the forecast for the global butyl rubber market. The report further throws light on the key dynamics that are likely to impact the growth of the global butyl rubber market. According to the report titled “Butyl Rubber Market: Global Industry Analysis 2012-2016 and Forecast 2017-2025,” the global butyl rubber market is expected to reach a market valuation of over US$ 4.2 Billion by the end of 2025, growing at a CAGR of 4.7% during the forecast period. The rise in demand for butyl rubber is due to its growing applications.
The butyl rubber market is witnessing a rapid increase in demand from the pharmaceutical industry. Another driver of the market is an increase in the rate of tire replacements taking place in the automobile industry. With the projected growth of the market, manufacturers are focusing on increasing production capacity of butyl rubber to cater to the ever increasing demand in various applications. Global market companies are also planning their overseas business development and sales in addition to the domestic market.
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Global Butyl Rubber Market: Segmental Analysis
- Based on application, the global butyl rubber market is expected to witness maximum demand from the tires and tubes segment, which is projected to reach a market value of over US$ 3.7 Billion by the end of 2025.
- On the basis of rubber type, halo-butyl rubber is expected to lead the market with a market share of over US$ 3.5 Billion by the end of 2025, growing at a robust CAGR of 5.0% during the forecast period. Among the different types of halo butyl rubbers, bromo-butyl contributes the most in the growth of the halo butyl rubber market.
- In terms of regions, APAC leads the global market with a high margin. The APAC butyl rubber market is expected to reach a valuation of over US$ 2.4 Billion by the end of 2025, with a growth rate of 5.3% during the forecast period.
Global Butyl Rubber Market: Competitive Landscape
This comprehensive research report consists of a brief profile of all the major players in the industry. Some of these major players mentioned in the report are Lanxess AG, ExxonMobil Corporation, PJSC Nizhnekamskneftekhim, JSR Corporation, China Petroleum & Chemical Corp (Sinopec Corporation), PAO SIBUR Holding, Reliance Industries Limited, Formosa Synthetic Rubber Corporation, Zhejiang Cenway New Synthetic Material Co. Ltd., Panjin Heyun Industrial Group Co., Ltd. and Royal Adhesives & Sealants, LLC. The report depicts the current scenario of all these players along with their future strategies during the forecast period.
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Market Segmentation
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