Global Butyl Rubber Market by Product (Regular Butyl, Bromo butyl and Chloro butyl), by Application (Tires and lubes, Adhesives, sealants, stoppers, Industrial and medical gloves, Pharmaceuticals and healthcare, Consumer products and Others) and by region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America) is expected to reach US$ XX Bn by 2027, at a CAGR of XX % during a forecast period.
Butyl rubber market is growing global and spreads across many sectors such as pharmaceuticals, aeronautics and construction among others. Regular butyl rubber shows properties like gas permeability, resistance toward sunlight, ozone and various polar solvents like alcohols and esters. The major driver of the market is an increase in the rate of tyre replacements taking place in the automobile industry. With the estimated growth of the market, manufacturers are focusing on increasing production capacity of butyl rubber to outfit to the ever-increasing demand in various applications.
Tires and tubes sector are rapidly increasing during the forecast period.
Tires & lubes was the largest application segment in 2017.The key players are concentrating on developing innovative materials and high grade butyl rubber, such halo-butyl rubber to reduce the fuel consumption of tractors and trailers so as to improve the efficiency. The use of halo-butyl in the tire tread application improves dynamic properties such as improved performance in rolling resistance and improved wet and dry traction.
The Butyl Rubber Market in Asia-Pacific region is expected to hold the largest share during the forecast period.
The Asia Pacific has propelled the automotive sectors in the manufacturing of various automotive goods including wipers, and brakes, tires which is likely to drive industry growth. Due to flourishing tire industry, high investment in R&D and growing population in the region like China and India holds the major market.
The U.S. holds for the largest market share in North America, as of 2017. The presence of many hospitals, medical institutions, and clinics joined with healthcare awareness among the consumers is anticipated to drive the product demand in medical gloves application.
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading manufactures such as Reliance Industries Ltd., ExxonMobil Chemical, Lanxess AG, Japan Butyl Company, Yanhua Petrochemical Company, Togliattikauchuk Lt, Timco Rubber, Kiran Rubber Industries Pvt. Ltd, JSR Corporation, Arlanxeo, Sibur International GmbH, China Petrochemical Corporation and Zhejiang Cenway New Synthetic Materials Co. Key players and manufactures are focusing on entering the new market by producing and launching technically advance and cost-effective products in the market. Production capacity expansion, brand portfolio expansion, mergers, collaborations, joint ventures and acquisitions of innovative businesses is the key trend to foot hold and penetrate market.
Maximize market research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about global butyl rubber market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for taking in product strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the global butyl rubber market. The driving forces, as well as considerable restraints, have been explained in depth. in addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain global butyl rubber market positioning of competitors.
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