Butyl Rubber Market size is forecast to reach$5.2 billion by 2025after growing at aCAGR of 5%during 2020-2025. Butyl rubber is an isobutylene copolymer with a small amount of isoprene. The special properties such as permeability to gas, excellent resistance to heat, chemicals & ozone and high low-temperature flexibility are making it prominent material into rubber, tubes and tires application. Tires made of butyl rubber have excellent inflation pressure retention, which makes them a preferred tire solution for various types of vehicles including passenger and commercial vehicles.
Report Coverage
The report: “Butyl Rubber Market- Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Butyl Rubber industry.
By Type: Brominated Butyl Rubber, Regular Butyl Rubber, and Chlorinated Butyl Rubber.
By Application:Coatings, Adhesives and Sealants, Tubes and Tires, Wires and Cables, Gaskets, Membranes, Footwear, Conveyer Belts, Protective Clothing and Others.
By End Use: Automotive, Healthcare and Medical, Pharmaceutical, Construction, Industrial, Textile industry, Rubber Industry and Others.
By Geography: North America, South America, Europe, APAC, and RoW.
Asia-pacific dominates the Butyl Rubber market owing to the rising industrialization and automotive sector.
China and India exhibit the highest butyl rubber consumption in Asia Pacific. Some of the region's other important butyl rubber consumers include Malaysia, Vietnam, Hong Kong, Macau, Indonesia, Australia and the Republic of Korea.
The high volatility in natural rubber (NR) prices has been a major driver for the growth of the industry.
By Type– Segment Analysis
Regular Butyl Rubber segment held the largest share in the Butyl Rubber market in 2019. The increasing use of regular and chlorinated butyl in tire manufacturing is expected to provide a positive space for the growth of the market over the forecast period. The use of these products offer benefits such as consistent inflation pressure, durability, and heat stability. The increasing use of regular and chlorinated butyl in tire manufacturing is expected to provide a positive space for the growth of the market over the forecast period. The use of these items provide benefits such as constant temperature pressure, longevity, and heat control. Higher curing rate coupled with product vulcanization efficiency is anticipated to drive demand for the product. The product's advantages in terms of adhesion, as opposed to generic butyl, are expected to fuel market growth over the forecast period.
Tubes and Tires segment held the largest share in the Butyl Rubber market in 2019. Rubber is a major fabricating component of a tire. In the manufacturing process there are three categories of rubber used: natural rubber (NR), styrene butadiene rubber (SBR), and polybutadiene rubber (PBR). Among various application areas for butyl rubber, tires and tubes are constantly in their position as the dominant segment in the global market. Over 200 raw materials make up the composition of a tire, ranging from: wire, rubber, chemicals, black carbon, oil, nylon, polyester, and steel. Passenger car tires make up the bulk of the production of tires, with 45% of all tires produced, followed by 30% truck and bus tires. The smallest group of tires produced are Industrial tires. Passenger tires are designed for a diverse range of driving experiences. The U.S. In 2018 Tire Manufacturers Association (USTMA) reported that $46.2 million tires were shipped for OEM and 214.9 million were shipped as replacement tires.
By End Use – Segment Analysis
Automotive segment held the largest share in the Butyl Rubber market in 2019 growing at a CAGR of 7%. As the economies are developing, people are spending more on automobiles. With the growth in vehicle production, demand for tires in the OEM market is expected to rise. This will have a positive effect on the tire industry as more than 60 per cent of the global natural & synthetic rubber produced is consumed during tire & tube manufacturing. Butyl rubber is an indispensable raw material used in tire and tube manufacturing, and an increase in global demand for tires and tubes is expected to increase butyl rubber demand during the forecast period. The most critical divisions of the automotive industry include commercial vehicles and passenger cars. China ranks among the world's largest automobile markets, in terms of both sales and production. Car sales in China first plunged in 2018; the market has not since recovered.
Geography - Segment Analysis
Asia-Pacific (APAC) dominated the Butyl Rubber market consisting share of 40% followed by North America and Europe. The growth in the region is supported by the automotive sector. The APAC has the greatest growth potential, with rising passenger mobility as well as a growing middle class and increased access to medical care, thus underscoring the urbanization trend, says the firm. Adding to this is the global trend of radial, tubeless truck and bus tires, all factors that will bode well for the rubber material market. India's tire makers are gearing up to intensify their position in the modernization process, largely driven by demand and supply conditions as well as being to some degree directly proportional to car sales. It is expected that tire exports will rise by 8-10% over the next three years, powered by stable demand and increased acceptance of Indian tires, both in terms of quality and price. With Chinese low-cost tires increasingly penetrating overseas markets , particularly after the US removal of the anti-dumping duty (ADD) on Chinese tires in 2017, competition from China (both in terms of volumes and pricing) will remain a key challenge.
Amid COVID-19, the outlook for 2020 global automotive sales becomes more difficult. Currently the butyl rubber industry has been affected due to COVID-19 pandemic where most of the industrial activity has been temporarily shut down. In in turn has affected the demand and supply chain as well which has been restricting the growth in year 2020.
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