Butyl Rubber Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI4369
Global Butyl Rubber Market will be primarily driven by growth in automotive and general manufacturing industry. The product is widely used in tire lining and regular butyl rubber provides excellent inflation pressure retention in bicycle, truck, industrial and specialty tires. Butyl rubber is also known as Isobutylene Isoprene Rubber (IIR).
Growth in construction industry will be complimenting product demand for adhesives and sealants over the forecast period. Isobutylene isoprene rubber has excellent weathering, heat and chemical resistance, thus highly desirable in construction industry for sealing roofs, lining ponds and tanks. Construction industry in the Middle East is steadily growing and with nations including Saudi Arabia and UAE spending massive amounts in building public infrastructure, product demand is likely to augment over the forecast period. Saudi Arabia currently holds huge potential for construction sector in the GCC, with more than 5,000 capital projects worth over USD 1.6 trillion in pre-execution stage, followed by UAE with capital projects worth more than USD 713 billion in its pocket. The total number of construction projects awarded in Dubai in 2018 were approximately worth USD 31. Billion as compared to 2017’s USD 28 billion These developments in Gulf countries will be propelling product demand to significant CAGR during the forecast timespan.
Fluctuation in feedstock prices may hamper butyl rubber market in the coming years. Isobutylene, one of the raw materials used in butyl rubber manufacturing, has been witnessing very unstable prices since past few years. These petrochemical derivatives experience periodic fluctuation in demand and thus their prices are greatly affected, which ultimately affects IIR production and supply.
On the basis of type, the butyl rubber market is segmented into regular, chlorinated and brominated butyl rubber. Chlorinated and brominated types fall under the halogenated butyl rubber category. These halogenated butyl rubbers cure much faster than regular butyl rubber and can be covulcanised with highly unsaturated elastomers. Chlorinated butyl rubber is likely to expand with significant CAGR during the forecast timespan.
The product has various application and is mainly categorized into sealants for roof repair, tire liners, medical equipment, mechanical goods and others. Other segment includes consumer and industrial goods. The tire liners segment will be experiencing prominent growth in the coming years owing to huge demand from automotive sector globally. Mechanical goods are also an important segment in this market. The product is used for making O-rings, gaskets and valves, and are also used for improving formulations for tank linings, condenser packaging and conveyor belts.
According to end-users, the butyl rubber market is classified into medical, automotive, consumer products, construction and others. Automotive is a major end-user of the product and the demand is likely to witness urge over the forecast duration owing to rising passenger vehicle sales across the globe. The product application in automotive produces more durable tubeless tires with air retaining inner lining chemically bonded to tire body. In medical industry, the product is used for making stoppers for glass bottles, medicine bottles and other pharmaceuticals devices.
Asia Pacific, mainly due to China, will be leading global butyl rubber market, in terms of production and demand over the forecast duration. China has an extensive base of mechanical and consumer goods manufacturers. Moreover, due to cost competitive raw materials and labor, China manufactures and supplies butyl rubber components and goods at low prices to various nations across the globe. Other Asian nations such as India, Indonesia, Japan and Malaysia will be positively influencing product demand on account of rapidly growing medical and automotive components manufacturing business in these nations.
The butyl rubber industry is very competitive and multi-national giants have a wide distribution network coupled with extensive product lines, which gives them a competitive edge over others in this industry. ExxonMobil and Lanxess are two such important players of this industry. Other companies operational in this industry include Sinopec Beijing Yanhua Petrochemical Company Limited, Rishiroop Group, Kiran Rubber Industries Pvt. Ltd. and Timco Rubber.
Butyl Rubber Market, By Type, 2014-2025 (Tons) (USD Million)
Regular butyl rubber
- Chlorinated butyl rubber
- Brominated butyl rubber
Butyl Rubber Market, By Application, 2014-2025 (Tons) (USD Million)
- Sealant for roof repair
- Tire liners
- Mechanical goods
- Medical equipment
Butyl Rubber Market, By End-User, 2014-2025 (Tons) (USD Million)
- Consumer products
The above information has been provided for the following regions and countries:
- North America
- Latin America
- South Africa
- Saudi Arabia
- ExxonMobil Chemical
- Rishiroop Group
- Kiran Rubber Industries Pvt. Ltd.
- Sinopec Beijing Yanhua Petrochemical Company Limited
- Reliance Sibur Elastomers Private Limited
- Timco Rubber
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