The butyl rubber market size was around USD 4.16 Billion in 2022 and is projected to reach USD 5.92 Billion by 2031, expanding at a CAGR of 4.9% during the forecast period, 2023 – 2031. The growth of the market is attributed to the higher product qualities as compared to natural rubber in terms of heat resistance, aging, and tear strength.
Isobutylene and isoprene are combined to create the synthetic elastomer known as butyl rubber. It is created by a procedure known as cationic vinyl polymerization using isobutylene as the monomer. It is employed in several commercial applications because of its low gas permeability, low moisture permeability, and high shock absorption capacity.
It is often synthesized at relatively low temperatures since the reaction happens rapidly. Isoprene is added to the polymer, forming double bonds that enable vulcanization and crosslinking, similar to that of natural rubber. IIR, which stands for isobutylene isoprene rubber, is another name for this rubber. In addition to being used in tires & tubes, butyl rubber is also utilized in adhesives, electrical cables, sealants, protective clothing, closures, pharmaceutical stoppers, hoses, and vials, as well as shoe bottoms.
Butyl Rubber is frequently used as tackifiers, modifiers, and binders in sealants and adhesives. Butyl Rubber has a lifespan of 5 to 10 years. These elastomers are occasionally combined with other substances to improve their mechanical and thermophysical qualities, such as oils, antioxidants, and fillers. Examples of the modified form of butyl rubber include Bromobutyl and Chlorobutyl. Major players are concentrating on manufacturing advanced materials and high-grade butyl rubber, such as halo-butyl rubber, to increase fuel efficiency.
COVID-19 Impact on Butyl Rubber Market
The Covid-19 pandemic affected the demand and supply of the butyl rubber market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to an unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth during the forecast period.
Butyl Rubber Market Dynamics
The market research report on the global butyl rubber market provides a detailed analysis by focusing on revenue growth, facts, figures, and historical data to determine major drivers, existing restraints, key opportunities, and competitive analysis. The report includes recent developments that can shape the overall performance of the market during the assessment period, 2023 to 2031.
Major Drivers
Increasing adoption from the automotive sector
The increasing demand for automobile tires and tubing is driving the butyl rubber market. The market for OEM tires is developing as a result of the expanding automotive sector. The need for raw materials, such as butyl rubber, has increased significantly as the automobile sector continues to expand in developing economies. Sales of passenger and commercial automobiles are booming in countries such as India, Mexico, and China as a result of increased purchasing power.
Rising demand across other applications to boost the market
Rising usage of butyl rubber as a sealant material in construction and other applications. The building sector has been open to implementing insulating technologies, which has raised the demand for butyl rubber. The growing demand for butyl rubber for roof repair and damp proofing is anticipated to propel the market during the forecast period. Increasing usage of butyl rubber for food applications is estimated to drive the market.
Existing Restraints
Price fluctuations for raw materials to hinder the market growth
Volatility in the price of raw materials and government regulations that affect the cost of butyl rubber act as key factors impeding the market growth. These factors are expected to make butyl rubber less affordable for small end-use companies, which is projected to impede the growth of the industry as a whole.
Key Opportunities
R&D investment and technological advancement are estimated to create immense growth opportunities
As part of the initiative for CSR, leading companies are looking for innovative methods to lessen or eliminate the ecological harm that butyl rubber production causes. Moreover, the growing emphasis on creating high-quality butyl rubber and new materials, including halo-butyl rubber, to increase fuel efficiency is projected to further contribute to create lucrative opportunities for the key players.
Scope of the Butyl Rubber Market Report
The global butyl rubber market research report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Butyl Rubber Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023 – 2031
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Segmentation
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Product (Chloro Butyl, Bromo Butyl, and Regular Butyl), Application (Industrial & Medical Gloves, Adhesive, Sealants, Stoppers, Tires & Lubes, and Others), and End-user (Construction Industries, Rubber Industries, Consumer Products, Pharmaceutical Industry, Automotive Industry, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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Arlanxeo; China Petrochemical Corporation; China Petroleum & Chemical Corp; Eni S.p.A.; Exxon Mobile Corporation; Formosa Plastics Corporation; Huntsman International LLC.; INEOS AG; JSR Corporation; LANXESS; LyondellBasell Industries Holdings B.V.; Panjin Heyun Industrial Group Co., Ltd.; PJSC Nizhnekamskneftekhim; Reliance Industries Limited; Royal Adhesives & Sealants, LLC; SABIC; Sibur International GmbH; Timco Rubber; TPC Group; and Zhejiang Cenway New Synthetic Materials Co., Ltd.
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Butyl Rubber Market Segment Insights
The chloro butyl segment is estimated to account for a key market share
Based on product, the global market is segregated into chloro butyl, Bromo butyl, and regular butyl. The chloro butyl segment is estimated to account for a key market share during the forecast period owing to increasing usage in the manufacturing of tires. Utilizing this product has advantages including heat stability, durability, and consistent inflation pressure. Chlorobutyl has the capacity to co-vulcanize with other general-purpose rubbers using various curing techniques while preserving all of the butyl rubber's unique features.
The Bromo butyl segment is expected to expand at a high CAGR during the forecast period. Growth of the segment is attributed to the high vulcanization efficiency and cure rate of the Bromo butyl. Chlorobutyl and Bromo both have nearly identical characteristics. In comparison to chloro butyl, Bromo butyl has higher stability and lower manufacturing costs, which is anticipated to drive the market. The use of Bromo butyl in the production of medical stoppers is projected to have a positive impact on product demand. Sterilization of stoppers used in the medical industry is supported by the product's high heat resistance qualities.
The tires & lubes segment dominated the market in 2021
On the basis of application, the market is fragmented into industrial & medical gloves, adhesive, sealants, stoppers, tires & lubes, and others. The tires & lubes segment dominated the market in 2021. Growth of the segment is attributed to rising demand for automobiles owing to factors such as increased disposable income and population.
In the production of tires and tubes, butyl rubber is necessary raw material. Growth in the global demand for tires and tubes is anticipated to enhance butyl rubber demand. Leading players are also emphasizing tire replacement in order to comply with new emission regulations.
The pharmaceutical industry segment to expand at a high CAGR during the forecast period
In terms of end-user, the market is divided into construction industries, rubber industries, consumer products, pharmaceutical industry, automotive industry, and others. The pharmaceutical industry segment is estimated to expand at a high CAGR during the forecast period. Butyl rubber has occurred as a suitable product for preserving pharmaceutical products. Butyl rubber is a natural choice for stoppers and seals that are utilized to ensure high cleanliness and gas barriers due to its inherent qualities.
It is widely utilized as a raw material in the pharmaceutical industry to make infusion & biomedical stoppers, antibiotics, and other products. The segment is anticipated to expand at a significant rate as a result of rising pharmaceutical application spending, which is primarily driven by rising health consciousness and consumer demand for extremely clean products.
Asia Pacific dominated the market in 2021
Based on regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific dominated the market in 2021 and is estimated to continue its dominance during the forecast period. Growth of the market is attributed to rising industrial development in the region. Moreover, increased demand for commercial and passenger vehicles in emerging countries such as China and India are fueling the market.
The market in North America is projected to hold a key market share during the forecast period owing to the growing pharmaceutical industry due to rising healthcare awareness in the region.
Segments
The global butyl rubber market has been segmented on the basis of
Product
- Chloro Butyl
- Bromo Butyl
- Regular Butyl
Application
- Industrial & Medical Gloves
- Adhesive Sealants Stoppers
- Tires & Lubes
- Others
End-user
- Construction Industries
- Rubber Industries
- Consumer Products
- Pharmaceutical Industry
- Automotive Industry
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Arlanxeo
- China Petrochemical Corporation
- China Petroleum & Chemical Corp
- Eni S.p.A.
- Exxon Mobile Corporation
- Formosa Plastics Corporation
- Huntsman International LLC.
- INEOS AG
- JSR Corporation
- LANXESS
- LyondellBasell Industries Holdings B.V.
- Panjin Heyun Industrial Group Co., Ltd.
- PJSC Nizhnekamskneftekhim
- Reliance Industries Limited
- Royal Adhesives & Sealants, LLC
- SABIC
- Sibur International GmbH
- Timco Rubber
- TPC Group
- Zhejiang Cenway New Synthetic Materials Co., Ltd.
Competitive Landscape
Key players competing in the butyl rubber market include Arlanxeo; China Petrochemical Corporation; China Petroleum & Chemical Corp; Eni S.p.A.; Exxon Mobile Corporation; Formosa Plastics Corporation; Huntsman International LLC.; INEOS AG; JSR Corporation; LANXESS; LyondellBasell Industries Holdings B.V.; Panjin Heyun Industrial Group Co., Ltd.; PJSC Nizhnekamskneftekhim; Reliance Industries Limited; Royal Adhesives & Sealants, LLC; SABIC; Sibur International GmbH; Timco Rubber; TPC Group; and Zhejiang Cenway New Synthetic Materials Co., Ltd. Some of these players are using several market strategies such as acquisitions, mergers, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares, generate revenue, and raise their production line of business in the coming years.
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