Growth of the global pharmaceutical industry is expected to drive the butyl rubber market demand, owing to rising consumption of butyl rubber in making medical products such as stoppers & seals, blood collection tubes, and infusion containers. The demand for butyl rubber in tire manufacturing is significantly rising over the past few years, as it helps in maintaining the overall tire pressure. This performance feature of butyl rubber makes it a favorable rubber among other synthetic rubbers. However, presence of low cost conventional rubber substitutes such as styrene butadiene rubber (SBR) may hamper the market growth in the coming years.
Adroit Market Research study on the global market for butyl rubber offers a holistic view of the industry from 2020 to 2028 as forecast period, including factors such as market drivers, limitations, opportunities, threats and regulatory overview. The market has been analyzed from 2018 to 2028, with a base year estimate of 2019 and a projection from 2020 to 2028. The report covers the current status and potential characteristics of the market at both the global and the country level. Moreover, the report also assesses market competition with Porter's analysis of five strengths and places leading players on the basis of their product range, regional presence, strategic initiatives and overall sales. Prominent players in the global butyl rubber market have been analyzed in depth.
Butyl rubber market in North America and Europe is gaining importance, due to strong import and export network across the regions. This is further anticipated to aid in the growth of butyl rubber in US and Canada. In Europe, Germany is one of the major hubs for automobile production. For instance, in 2019, Germany accounted for more than 40% share of the total butyl rubber imports in Europe. Asia Pacific continues to witness a fast-paced growth at a CAGR of more than 5% during the forecast period. Asia Pacific has been the fastest-growing region due to rising economy, industrialization, and population.
Some of the leading players operating in the butyl rubber industry include ExxonMobil Corporation, ARLANXEO, JSR Corporation, JAPAN BUTYL Co., Ltd (Nippon Butyl Co., Ltd.), SIBUR INTERNATIONAL, PJSC Nizhnekamskneftekhim, Reliance Industries Limited, Sinopec Corporation, Formosa Plastics Rubber Industry Co., Ltd, Goodyear Rubber Company of Southern California, and LANXESS AG.
Key Segments of the Global Butyl Rubber Market
Application Overview, 2018-2028 (USD Million)
- Tire & tire products
- Seals, O-rings, and gaskets
- Molded & extruded rubber
- Adhesives & sealants
Type Method, 2018-2028 (USD Million)
- Regular butyl rubber
- Halobutyl rubber
End User 2018-2028 (USD Million)
- Automotive & transportation
- Healthcare & pharmaceutical
- Consumer goods
Regional Overview, 2018-2028 (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America