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Know Worldwide specifications of the Global Butyl Rubber Market Size 2023-2033 | Top Key Players: LANXESS, JSR Corporation, Kiran Rubber Industries, SABIC, Veolia, Timco Rubber, The Goodyear Tire & Rubber Company, Formosa Synthetic Rubber (Ningbo) Corpora
Global Butyl Rubber Market Size
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The butyl rubber market is the market of synthetic rubber which is used in various applications including tires, adhesives, and sealants. Butyl rubber is a copolymer of isobutylene with isoprene, having relatively low strength. Because of the qualities of butyl rubber including good flex properties and moisture & gas resistance, synthetic rubber is an ideal choice for a range of industrial uses. The upsurging development of new pharmaceutical products and medical devices along with the government investments in improving healthcare infrastructure results in driving the product demand, thereby escalating lucrative market opportunity. The growing automotive industry, rising construction activities, and demand for eco-friendly materials are all the factors driving the butyl rubber market. The increasing penetration of electrical vehicles and strict environmental regulations & health hazards in butyl rubber manufacturing industry is propelling the market. However, the volatility in raw material prices and the negative environmental impact of rubber manufacturing are challenging factors that may hamper the market growth.
The chlorobutyl rubber segment holds the largest share of the global butyl rubber market and is expected to grow at a significant CAGR during the forecast period.
Based on the type, the global butyl rubber market is divided into regular butyl rubber, chlorobutyl rubber, and bromobutyl rubber. Among these, the chlorobutyl rubber segment holds the largest share of the global butyl rubber market and is expected to grow at a significant CAGR during the forecast period. The increasing application of chlorobutyl rubber in automotive, industrial, consumer, construction, and medical sectors is driving the market.
The tire manufacturing segment accounted for the largest revenue share in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the application, the global butyl rubber market is divided into tire manufacturing, medical & pharmaceuticals, adhesives & sealants, and others. Among these, the tire manufacturing segment accounted for the largest revenue share in 2023 and is expected to grow at a significant CAGR during the forecast period. The extensive flexibility and distinctive air retention qualities of butyl rubber are responsible for driving the market growth in the tire manufacturing segment.
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North America is projected to hold the largest share of the global butyl rubber market over the forecast period.
North America is projected to hold the largest share of the global butyl rubber market over the forecast period. The region's advanced healthcare infrastructure and significant investment in pharmaceutical R&D are responsible for driving the butyl rubber market. Because of its adaptability and resilience to heat, chemicals, and weathering, the material is essential in various industries, thereby promoting market growth.
Asia Pacific is predicted to grow at the fastest CAGR in the butyl rubber market over the forecast period. The rapid urbanization and industrialization in Asia-Pacific drive demand for butyl rubber-intensive industries like healthcare, infrastructure, and automobiles. High-quality adhesives and sealants are in high demand due to the expanding consumer electronics sector is propelling the market demand for butyl rubber.
Major key players in the butyl rubber market include SIBUR Holding, ARLANXEO, Reliance Industries Limited, Exxon Mobil Corporation, LANXESS, JSR Corporation, Kiran Rubber Industries, SABIC, Veolia, Timco Rubber, The Goodyear Tire & Rubber Company, Formosa Synthetic Rubber (Ningbo) Corporation Limited, and Others.
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Key Target Audience
Market Players
Investors
End-users
Government Authorities
Consulting And Research Firm
Venture capitalists
Value-Added Resellers (VARs)
Recent Developments
In July 2024, Performance elastomers firm Arlanxeo announced a milestone on its sustainability journey. With the ISCC PLUS certifications of its EPDM plant in Geleen, The Netherlands, Butyl plant in Singapore, and EVM plant in Dormagen, Germany, Arlanxeo offered a rapidly expanding range of sustainable synthetic rubber products under its Eco label.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global butyl rubber market based on the below-mentioned segments:
Global Butyl Rubber Market, By Type
Regular Butyl Rubber
Chlorobutyl Rubber
Bromobutyl Rubber
Global Butyl Rubber Market, By Application
Tire Manufacturing
Medical & Pharmaceuticals
Adhesives & Sealants
Others
Global Butyl Rubber Market, Regional Analysis
North America
US
Canada
Mexico
Europe
Germany
Uk
France
Italy
Spain
Russia
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Australia
Rest of Asia Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
UAE
Saudi Arabia
Qatar
South Africa
Rest of Middle East & Africa
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