Butyl Rubber Market

Industry Insights-

• The Global Butyl Rubber Market was valued at USD 3.98 Billion in 2021
• It is anticipated to reach USD 5.91 Billion by 2028
• A CAGR of 5.8% is anticipated over the forecast period

Overview-

Butyl rubber is also called isobutylene-isoprene rubber (IIR rubber) because it is formed by the copolymerization of isobutylene and isoprene. Butyl rubber is a type of synthetic rubber which is mainly used in tires and tubes, as it has special properties such as air permeability, excellent resistance to heat, chemicals, and ozone, and high low-temperature elasticity. There are three types of butyl rubbers these are regular butyl, chlorinated butyl, and brominated butyl. In addition to tires and tubes, butyl rubber is also used in sealants, adhesives, protective clothing, pharmaceutical stoppers, closures, caps and tubes, electrical cables, hoses, and shoe soles. A new research report indicates that the butyl rubber market has seen an increase in demand from various application sectors.

Covid-19 Impact-

The Covid-19 pandemic has shown a negative impact on the growth of the global butyl rubber market. Lack of raw materials, shortage of labor, etc. led to a slowdown in industrial operations which later affected the growth of many industries around the world. In the first wave of the Covid-19 pandemic, the stagnation of infrastructure activities hit the construction and automobile sectors, transport restrictions and disruptions in demand and sales of automobiles affected the market. However, after the pandemic rapid recovery in the construction and other end-user industries has seen an improvement in demand for butyl rubber and is projected to grow at a significant rate in the coming years.

Key Players-

Some of the key players for 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.
• Huntsman International LLC.
• Panjin Heyun Group
• Lanxess
• Timco Rubber
• LyondellBasell Industries Holdings B.V
• INEOS AG
• Eni S.p.A
• Formosa Plastics Corporation
• others

Segmentation Analysis-

By Type

• Regular Butyl 
• Chlorinated Butyl 
• Brominated Butyl 

The global butyl rubber market is segmented based on the type, application, end-use, and region & country level. Based on type, the global butyl rubber market is segmented into regular butyl, chlorinated butyl, and brominated butyl. The rising demand for regular and chlorinated butyl rubber in the tire manufacturing industry is expected to drive market growth over the forecast period. The use of these products offers numerous benefits, including consistent inflation pressure, durability, and heat stability. In addition, the increasing demand for radial tires due to their superior performance and fuel efficiency is anticipated to further fuel the growth of the regular and chlorinated butyl rubber market.

By Application

• Tires & Tubes 
• Medical Equipment 
• Adhesive & Sealants 
• Others 

By application, the global butyl rubber market is segmented into tires & tubes, medical equipment, adhesive & sealants and others. The demand for tires and lubes is expected to increase significantly in the foreseeable future, owing to the increasing disposable incomes and population growth. This will likely drive the market for tires & lubes, creating lucrative opportunities for the industry players. In addition, the emergence of technological innovations such as the development of eco-friendly tires and the introduction of fuel-efficient lubes are expected to further boost the market growth.

By End-User

• Chemical 
• Automotive  
• Healthcare 
• Pharmaceutical & Medical
• Construction
• Others 

By end-user, the global butyl rubber market is segmented into chemical, automotive, healthcare, pharmaceutical & medical, construction and others.

By Region Analysis

• North America

  • U.S.
  • Canada

• Europe

  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Netherland
  • Turkey
  • Switzerland
  • Belgium
  • Rest of Europe

• Asia-Pacific

  • China
  • South Korea
  • Japan
  • India
  • Australia
  • Philippines
  • Singapore
  • Malaysia
  • Thailand
  • Indonesia
  • Rest Of APAC

• Latin America

  • Brazil
  • Mexico
  • Colombia
  • Argentina
  • Peru
  • Rest of South America

• Middle East and Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest Of MEA

Geographically, Asia Pacific is expected to capture a major share in the global butyl rubber market within the forecast period due to the increasing adoption from the automotive sector, rising technological advancement, and growing demand for passenger and commercial vehicles in this region. Increasing adoption from the automotive sector is driving the growth of the market.

The global market for butyl rubber is benefiting from the growing demand for automotive tires and tubing. The growing automotive industry is driving the expansion of the OEM tires market. With the continued growth of the automotive industry in developing economies, the demand for raw materials such as butyl rubber has increased dramatically. Sales of passenger and commercial vehicles are on the rise in countries like China, Japan, and India due to rising purchasing power.

For instance, as per the India Brand Equity Foundation (IBEF); in October 2021, entire production of passenger vehicles, three-wheelers, two-wheelers and quadricycles arrived at 2,214,745 units. In addition, the rising technological advancement is another factor to boost the market. For instance; as per the news published, on September 11th, 2019; Sibur & Reliance launched butyl rubber production in Jamnagar.

North America is the fastest-growing region in the global butyl rubber market due to increasing industrialization and automotive, rising investments by OEMs in the production of high-performance tires and tubes, and growing use of high-quality rubber products in the construction industry in this region.

Market Drivers-

Increasing adoption from the automotive sector

One of the major factors driving the growth of the butyl rubber market is the increasing adoption from the automotive sector. The growing demand for vehicle tires and tubing is conducive to the global market for butyl rubber. The growing demand for OEM tires is expected to expand the market growth in the coming years due to the growing automotive industry. The continued growth of the automotive industry in developing economies has led to a dramatic increase in demand for raw materials, including butyl rubber. Sales of passenger and commercial vehicles are on the rise due to increased purchasing power. In these countries, the rise of the existing tire-recycling industry also provides an incentive for marketing. For example; according to the International Organization of Motor Vehicle Manufacturers, in 2021, there were about 26,286,317 commercial vehicles and 56,398,471 passenger cars were sold. Therefore, increasing adoption of the automotive sector has expected to drive the global butyl rubber market.

Rising use of butyl rubber in various end-use industries

In addition, the rising use of butyl rubber in various end-use industries is also boosting the growth of the butyl rubber market. The increase in revenue of the global butyl rubber market is mainly supported by the growing industrial applications of the product as it has numerous benefits associated with it. Butyl rubber is impervious to gases and boasts of high elasticity and excellent moisturizing properties. In addition to being biocompatible, butyl rubber has electrical insulating properties and is resistant to various acidic and alkaline chemicals. Other important features of the material include flex cracking resistance, impact and tear resistance, and strong resistance to abrasion, water, sunlight, and oxidation. Therefore, the increasing use of butyl rubber in the manufacture of tubeless tires, car and truck body mounts, inner tubes, vibration dampers and suspension bushings, glove-box gloves, membrane roofs, oil and fuel additives, and numerous other products is an important factor driving the market growth.

Growing use of butyl rubber to sterilize pharmaceutical products

Moreover, the growing use of butyl rubber to sterilize pharmaceutical products is another factor supplementing the market growth. The butyl rubber has emerged as the most suitable product for storing pharmaceutical products. The basic properties of butyl rubber make it a clear choice for stoppers and seals used to provide high hygiene and gas barriers. In the pharmaceutical industry, halo-butyl rubber is used as a raw material for the production of antibiotics as well as infusions and biomedical stoppers. Rising costs on pharmaceutical applications, primarily due to health awareness and high levels of hygiene demand, are expected to lead to substantial growth in the global butyl rubber market. 

However, the high cost associated with butyl rubber may hinder the growth of the global butyl rubber market. Despite that, increasing demand for butyl rubber, rising development, and innovations may create more opportunities for the further growth of the global butyl rubber market.

Market Opportunities-

Integration of Machine Learning and Artificial Intelligence in application security to create opportunities

Recent Developments-

• On September 11th, 2019; Sibur and Reliance Industries Ltd. of India started production of butyl rubber at Reliance Sibur Elastomers Pvt Ltd, a joint integrated petrochemical plant in Jamnagar, India, TASS quoted CEO of Russian petrochemical company Sibur Mikhail Karisalov as saying. Eastern Economic Forum. A joint venture between Sibur and Reliance Industries - Reliance Sibur Elastomers Pvt. Karisalov had earlier told TASS that the company and partners would invest more than USD600 million in the facility.

Report Analysis	Details
Historical data	2016 - 2021
Forecast Period	2022 - 2029
Market Size in 2021:	USD 3.98 Billion
Base year considered	2021
Forecast Period CAGR %:	5.8%
Market Size Expected in 2028:	USD 5.91 Billion
Tables, Charts & Figures:	175
Pages	300
Butyl Rubber Companies	Arlanxeo, China Petrochemical Corporation, JSR Corporation, Sibur International GmbH, PJSC Nizhnekamskneftekhim, Reliance Industries Limited, Exxon Mobile Corporation, Zhejiang Cenway New Synthetic Materials Co., Ltd.,Huntsman International LLC., Panjin Heyun Group, Lanxess, Timco Rubber , LyondellBasell Industries Holdings B.V, INEOS AG,  Eni S.p.A,  Formosa Plastics Corporation, and others.
Segments Covered	By Type, By Application, By End-User
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa