Butyl Rubber Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI4369
Global butyl rubber market size is expected to witness prolific growth over 2021-2027. This is a result of the varied usage benefits of the material, including high durability and excellent resistance to heat and abrasion, making it a suitable option for applications that require quality sealing and lining. Likewise, the increasing availability of butyl rubber adhesives and sealants for plastics and concrete liner sealing applications will also stimulate industry demand over the forthcoming years.
Butyl rubber, also known as IIR (isobutylene-isoprene rubber), refers to a versatile synthetic rubber, produced by the polymerization of over 98% of isobutylene with 2% of isoprene. The versatile material is ideal for shock absorption, offers low moisture and gas permeability, and is highly resistant to weather, ozone, tearing, and chemical corrosion.
Escalating usage of synthetic rubber in the automotive industry and the increasing production of light vehicles are some of the key factors characterizing the butyl rubber market trends over 2021-2027. Butyl rubber elastomers are widely used in automotive tyres to keep them inflated longer, thereby enhancing fuel economy and ride comfort. In 2021, Azelis entered a partnership deal with SIBUR to supply its butyl/halobutyl rubber range for the France automotive and packaging markets, which will further augment market share in the years ahead.
Sealant for roof repair is set to emerge as a prominent application segment for the butyl rubber market by 2027. This can be credited to the capability of butyl coatings to provide a shield for caulk and sealants on the roof, alongside its compatibility with different roof surfaces. The rising popularity of butyl rubber sealant can also be attributed to its ease of use, faster drying, and cost-effectiveness, among other attributes.
Regionally, the Europe butyl rubber industry will amass considerable gains by 2027. This growth is driven by the recovery of the construction sector from the pandemic across countries like France, since Isobutylene Isoprene Rubber is used extensively in roofing, flooring and other building activities. The rapid expansion of the medical device industry and the robust healthcare system in Germany will further drive butyl rubber demand, as it is highly preferred over natural rubbers in manufacturing medical equipment and stoppers for labware.
The competitive landscape of the butyl rubber industry consists of companies such as Timco Rubber, Kiran Rubber Industries Pvt. Ltd., Rishiroop Group, Sinopec Beijing Yanhua Petrochemical Co. Ltd., Lanxess, and ExxonMobil, among others. Strategic product launches, collaborations, and business expansions are the key initiatives being undertaken by these industry participants to reinforce their presence across the global market. For instance, in November 2020, ExxonMobil announced plans for a full-scale turnaround of its Fawley, UK-based butyl rubber facility, which is considered a leading halobutyl producer worldwide, by 2022.
Disruptions in Construction Activities Amid COVID-19 May Influence Butyl Rubber Market Trends:
The construction sector across the globe has been facing major challenges on various fronts due to the novel coronavirus pandemic. The varying degrees of impacts witnessed by the industry members include reduced availability of goods and labor as well as suspensions of parties or entire projects, resulting in low construction output. These factors may assert a negative impact on the steady growth of the butyl rubber industry, as it is a prominent end-user of butyl rubber adhesives and sealants.
However, a significant recovery in EU car sales, following the sharp drop during the pandemic, may contribute to the industry growth over the foreseeable future. According to the ACEA (European Automobile Manufacturers’ Association), automotive sales in the region are set to rise by over 10% in 2021 as compared to a year earlier. This favorable growth trajectory is likely to expand butyl rubber applications in the automotive domain, including the manufacturing of inner tubes in tyres.
What Information does this report contain?
Customize this Report
Our Market Research Reports Include:
- Market snapshot
- Market Segmentation
- Value Chain Analysis
- Growth Dynamics
- Potential Market Opportunities
- Regulatory Overview
- Technology Evolution
- Innovation & Sustainability