PUne, India, Nov. 02, 2022 (GLOBE NEWSWIRE) --
According to Brandessence Market Research, The Global Butyl Rubber Market is anticipated to reach a valuation of USD 5.91 billion by 2028 from USD 3.98 billion in 2021, registering a CAGR of 5.8% over 2022-2028. The booming automobile industry, increasing demand for these rubbers in medical applications, along with growing R&D activities in the field are primarily augmenting the outlook of this business vertical.
Global Butyl Rubber Market Insights (2022-2028)
Butyl rubber is referred to as a type of synthetic rubber that is produce through the polymerization of isoprene and isobutylene. It is predominantly used primary binders, modifiers, and tackifiers in sealants, protective clothes, tires, tubes, pharmaceutical stoppers, electric cables, and adhesives, among others. This rubber has ideal impermeability toward water and air with enhanced flexing properties. It is highly durable in nature and possesses superior head and aging resistance. Due to these factors, it is highly preferable to use butyl rubber in various applications as compared to its traditional counterparts.
Also, widespread industrialization, growing per capita income levels, and rising focus of key players to develop advanced products in this domain are creating lucrative opportunities to this marketplace to prosper.
Moreover, escalating demand for OEM tires, the biocompatible nature of butyl rubber coupled with is growing use in the sterilization of pharmaceutical products are adding momentum to the development of this industry sphere.
Further, growing health cognizance of the masses, increasing vehicle sales, along with technological advancements in various end use sectors are accelerating the growth of this market.
On the contrary, high cost of these rubbers is hindering the remuneration scope of global butyl rubber market.
Besides, the Coronavirus pandemic negatively impacted the progression of this business vertical. This was mainly powered by a sudden halt in production activities due to the closure of manufacturing units and others commercial complexes during the imposed lockdown period. Moreover, supply chain disruptions along with the dearth of raw materials further hampered the market development.
Get Sample Copy of This Premium Report@ https://brandessenceresearch.com/requestSample/PostId/2073
Market growth comparison pertaining to the historical years and forecast timeline of 2022-2028
The industry sphere has been garnering significant returns over the stipulated timeframe due to the presence of various expansion propellants.
There has been a widespread adoption of butyl rubber in pharmaceutical applications. It is used as a primary raw material for the production of biomedical stoppers and antibiotics. The non-allergic nature of butyl rubber along with properties such as high elasticity and resilience makes it an ideal raw material for various medical applications.
Butyl rubber also finds prompt use in the automobile sector. It is used during the manufacturing of car body mounts, tires, tubes, oil & fuel additives, vibration dampers, and membrane roofs, among others. Properties such as wear & tear resistance, high chemical resilience, oxidation and abrasion resistance, along with flex cracking resistance possessed by butyl rubber is elevating in demand in this end use sector.
Moreover, the growing disposable income of individuals are positively influencing the dynamics of global butyl rubber market. People with high income levels can easily afford high end products like vehicles in which butyl rubbers are used as primary raw materials during production. This in turn is creating an upward trend for this business sphere.
Competitive Landscape
The prominent players characterizing the competitive terrain of global butyl rubber market are Arlanxeo, China Petrochemical Corporation, JSR Corporation, Sibur International GmbH, PJSC Nizhnekamskneftekhim, Reliance Industries Limited, Exxon Mobile Corporation, Zhejiang Cenway New Synthetic Materials Co., Ltd., and others.
These noteworthy companies are trying to build a standout image across the globe by capturing untapped markets. They are participating in various strategic expansion operations such as mergers & acquisitions, collaborations, partnerships, and new product launches, among others to amplify their geographical footprints.
Get Methodology @ https://brandessenceresearch.com/requestMethodology/PostId/2073
Butyl Rubber Market: Segmentation Analysis
By Type
- Regular Butyl
- Chlorinated Butyl
- Brominated Butyl
By Application
- Tires & Tubes
- Medical Equipment
- Adhesive & Sealants
- Others
By End-User
- Chemical
- Automotive
- Healthcare
- Pharmaceutical & Medical
- Construction
- Others
Region-wise Insights
Which is the fastest growing region in the industry?
Asia Pacific market has been gaining massive traction in terms of revenue share over the stipulated timeline. This is credited to the booming automotive and pharmaceutical sectors, growing income levels, easy availability of cheap labor, along with technological innovations in the field.
Also, rapid industrialization, prompt evolution in the manufacturing infrastructure, coupled with the presence of prominent players are further contributing to the market expansion in the APAC region.
How is North America faring in the global butyl rubber market?
North America is reckoned to amass notable gains over the forecast period owing to the widespread industrialization, rising vehicle sales, rapidly improving health expenditure, growing health cognizance of the masses, along with surging per capita income levels.
Moreover, increasing investments in OEMs, R&D activities in the field, along with the rising adoption of butyl rubber in the construction industry are propelling industry growth in this region.
Category-wise Outlook
Which type segment presently leads the market?
The brominated butyl segment is currently dominating the market due to its widespread usage in the automotive and pharmaceutical sectors.
Which is the fastest growing application segment in the industry?
The medical equipment segment is amassing substantial returns over the estimated timeline. This is due to the non-allergic and chemical resistant nature of butyl rubber. Moreover, it does not undergo discoloration unlike its traditional counterparts.
Which end user segment has been witnessing high growth?
The pharmaceutical & medical segment is amplifying significantly over the assessment period owing to the rising healthcare expenditure, growing use of these rubbers in antibiotics production coupled with is non-allergic property.
Region Covered in Butyl Rubber Market Report:
North America
- U.S, Canada
Europe
- Germany, France,U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe
Asia-Pacific
- South_Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC
Latin America
- Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America
Middle East and Africa
- Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA
Purchase Copy of Reports @ https://brandessenceresearch.com/Checkout?report_id=2073
Major Developments
- In September 2020, Zhejiang Cenway announced the further amplification of its butyl rubber manufacturing unit in Panjin, China to diverse its product portfolio in the field.
Look at Related Reports:
- Ceramic Fiber Market Worth USD 4432.5 Million by 2028 at a CAGR of 9.8% - Report by Brandessence Market Research
- Methanol Market Size to Reach USD 34.05 Billion by 2028 | Rising Methanol Demand for Chemicals Industry in Asia Pacific According to Brandessence Market Research
- Sodium Chloride Market Size is Estimated to Reach USD 31.9 Billion by 2028 - Brandessence Market Research
- Epichlorohydrin Market Size is Projected to Reach USD 3997.1 Million and Grow at CAGR 5.4% Over Forecasts Period 2022-2028: Brandessence Market Research
- Liquid Fertilizers Market is Projected to Reach USD 16.07 Billion by 2028 | Global Market Report 2022 to 2028, Says Brandessence Market Research
- Aroma Ingredients Market Worth $9.88 Billion, Globally, by 2028 at 6.57% CAGR | Brandessence Market Research
- Top Emerging Trends Impacting the Global Seamless Steel Pipes Market From 2022-2028: Brandessence Market Research
- Cosmetic Laser Market 2022-2028 with Candela, Palomar, Syneron, Deka– Brandessence Market Research
- Nickel Market 2022 Is Growing Worldwide | Norilsk Nickel,Vale, BHP,Jinchuan Group International Resources Co. Ltd
- Beryllium Market 2022 Strategy, Outlook and Product Development to 2028
- Encapsulated Flavors Market Report 2022-2028 – Brandessence Market Research
- $1726.71 Million Worldwide Graphene Industry to 2025 - Increasing demand for lightweight, flexible and renewable materials with long life span Are Driving Growth | Brandessence Market Research
- Construction Chemicals Market Research on Present State & Future Growth Prospects to 2028
- Ethylene Market Size to Reach Valuation of $238.95 Billion by 2028| Ethylene Generates 9.97% Market Revenue | BMRC
- Pain Relief Patches Market to be Worth $39.37 Billion by 2028: Brandessence Market Research
i-Factor: Live Market intelligence platform
I-Factor is our guaranteed seal to keep our clients ahead of the competition, always. This knowledge platform delivers real-time updates on key economic indicators, competitive landscape, changing demand, trends, customized regional insights, and more. The platform visualizes key data points to help make decision making agile, trustworthy, and holistic.
Register for free Demo here @ https://brandessenceresearch.com/i-factor/login/userRegister
Brandessence Market Research & Consulting Pvt ltd.
Brandessence market research publishes market research reports & business insights produced by highly qualified and experienced industry analysts. Brand Essence Market Research report will be best fit for senior executives, business development managers, marketing managers, consultants, CEOs, CIOs, COOs, and Directors, governments, agencies, organizations and Ph.D. Students. We have a delivery center in Pune, India and our sales office is in London.
Website: https://brandessenceresearch.com
Blog: https://brandessenceresearch.com/chemical-and-materials/ethylene-market Bromine Companies
Follow Us: Linkedin
Mr. Vishal Sawant
Email: vishal@brandessenceresearch.com
Email: Sales@brandessenceresearch.com
Corporate Sales: +44-2038074155
Asia Office: +917447409162
