The butyl rubber market is driven by the fact that butyl rubber possesses superlative properties concerning resistance against heat, aging, and tear strength as compared to natural rubber.
The ever-increasing demand for tubes and tires is catalyzing the butyl rubber market. With economies like India, Mexico, and China witnessing a spike in sales of commercial and passenger vehicles due to an increase in buying power, there is no stoppage for the butyl rubber market in the forecast period as well. The tire-recycling industry herein also augments the growth. In the years to come, growing demand for roof repair and damp proofing is expected to add to the revenue generation.
At the same time, VOC pollution regulations are in place along with fluctuations in raw materials. These factors are bound to restrain the butyl rubber market shortly. There are other factors like almost 0% tolerance to aromatic hydrocarbons and aliphatic sugars. Safeguarding the ecological balance is the biggest challenge encountered as of now. This could also hinder the butyl rubber market. Persistence Market Research has walked through these findings along with the corrective/preventive measures to be taken in this regard in its latest market study entitled “Butyl Rubber Market”.
How is the Butyl Rubber Market divided?
The global butyl rubber market, by type of product, spans regular butyl rubber, halo butyl rubber, Bromo-butyl rubber, and chloro-butyl rubber. By application, it’s pharmaceuticals, adhesives & sealants, automotive, and tires & tubes. Out of these, tires & tubes hold the largest market share. Also, Bromo-butyl rubber dominates the market. Persistence Market Research has walked through these facts with insights in its latest market study entitled “Butyl Rubber Market”.
North America holds the largest market share with the US reforms accelerating the rate of industrialization all across. Europe stands second on similar grounds. The Asia-Pacific is expected to grow on a voracious note in the butyl rubber market in the forecast period. This could be credited to growing applications of butyl rubber in the automobile, manufacturing, and pharmaceuticals vertical. Persistence Market Research has highlighted these facts with subsequent measures to be taken in its latest market study entitled “Butyl Rubber Market”.
Persistence Market Research has profiled the key players in the butyl rubber market as Lanxess AG, ExxonMobil Corporation, PJSC Nizhnekamskneftekhim, JSR Corporation, China Petroleum & Chemical Corp (Sinopec Corporation), PAO SIBUR Holding, Reliance Industries Ltd., Formosa Synthetic Rubber Corporation, Zhejiang Conway New Synthetic material Co. Ltd., Panjin Hyun Industrial Group Co., Ltd., Royal Adhesives & Sealants, LLC, and likewise.
Persistence Market Research has also gone further stating the latest developments on this count. For instance – The ExxonMobil-operated rubber plant (110K-metric tons/year) at Fawley (south UK) is all set for a 100% turnaround in the year 2022. Around 2020, the same company started with the planned shutdown at cracker (Singapore) for maintenance. Zheijiang Conway, in September 2020, did upgrade the butyl rubber facility in Panjin (China).
The global butyl rubber market is poised to grow incessantly between 2021 and 2031 – Persistence Market Research