Hypalon Market Projected to be Resilient During 2018 – 2028
Synthetic rubber, Hypalon, used in different end-use industries for resistant to ozone, weather, water and aging; has gained momentum in the emerging economies in the recent years. The use of versatile materials is amplifying the growth of the global market for Hypalon owing to the rising demand of Hypalons in industrial applications. The global Hypalon market houses over a hundred small and large players across the globe. Advanced Hypalon technology has replaced many levels of materials over the decade due to its ease of use and high-tech and high-performance manufacturing technology. Awareness about Hypalons among the end-use industries has resulted in amplified demand for the Hypalon, and the sales volume of the Hypalon over the past two-three years substantiates the same.
Global Hypalon Market Scenario
The global Hypalon market is likely to create a significant incremental opportunity in several end-use industries across the globe mainly by 2028 over 2018 owing to rising growth for the industrial sector in emerging economies. Also, the global market for Hypalon is estimated to witness a healthy CAGR during the forecast period from 2018 to 2028. The global Hypalon has grown significantly in potential countries, such as U.S., Germany, China, India, UK and France among other potential countries and is likely to witness a high growth during the forecast period. By regions, North America is expected to lead the global market for Hypalon over the forecast period followed by Europe and APEJ due to the significant presence of a manufacturing plant for Hypalon in these regions. The global market is anticipated to witness substantial growth in Latin America and Middle East & Africa region during the forecast period owing to the increasing penetration of prominent players and their sales in these regions.
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Global Hypalon Market Dynamics
The growth in the hypalon market is primarily due to the high growth of the automotive industry, which has created the demand for the tire manufacturing industry. Hypalon being an essential component of modern tires, benefitted immensely from the growth of the automotive industry. Tire industry accounts for the largest end-use market for hypalon. Key features propelling the growth of Hypalon market is color stability, dielectric qualities, flame resistance, low moisture absorption and weather and abrasion resistance. The growth of hypalon market is expected to continue in the near future.
Apart from tires, there has been a high demand from footwear and construction industries as well. China is expected to be driving the force of hypalon demand. China has the world’s largest automotive industry and is expected to consolidate its position over the forecast period. The highest demand for tires is expected to be generated from Asia Pacific region, especially China, India and Indonesia. Asia Pacific region is characterized by the growth of commercial heavy vehicles with improving economic conditions.
Moreover, there is a high demand for high-performance tires due to the labelling regulations in countries like Japan, Korea and EU. This has led to the growth in Solution-SBR (S-SBR) demand. S-SBR is expected to gain a substantial market share over the next six years.
Growth of building and construction industry also augured well for the hypalon market. Hypalon finds use in sealing, electrical insulation, fire insulation and expansion joints among many others. Moreover, the growing disposable income levels have further boosted the demand for other applications like footwear and household appliances such as hoses, shock absorbers, sleeves, grommets and diaphragms. In spite of the growing demand for Hypalon, the market is restrained by its origin. Since Hypalon is a downstream derivative of petroleum, Hypalon experiences similar price volatility as its raw materials such as naphtha, benzene and ethylene. Additionally, the manufacture of Hypalon poses specific environmental concerns, which can restrain the market growth.
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Global Hypalon Market Segmentation
Hypalon includes the following segments:
The global Hypalon market can be segmented on the basis of end-use industries as:
The global Hypalon market can be segmented on the basis of the geographical region as:
Middle East and Africa (MEA)
Global Hypalon Market Key Players
Despite the focus of players in North America, Hypalon manufacturers are largely focused in Asian countries, largely China and India. These Hypalon companies, over the past few years, have changed their external strategy towards the company’s expansion and mergers & acquisitions. Some of the key market participants in the global Hypalon market are:
AB MARINE GROUP
Stafford Textiles Limited
Archer Rubber LLC
Glen Raven Inc.
White Cross Rubber Products Ltd.
Outdoor Wilderness Fabrics Inc.
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