RRI delivers key insights on the global Butyl Rubber market in its latest report entitled ‘Butyl Rubber Market: Global Industry Analysis 2012-2016 and Forecast, 2016–2024.’ The long-term outlook on the global Butyl Rubber market will remain positive, with the market value expected to increase at a CAGR of 4.7% during the forecast period 2017 – 2025. According to the product types, the halogenated butyl rubber segmentis expected to expand at a significant CAGR in terms of values& volume during the period.Based on application, tires and tubes segment is expected to witness a healthy CAGR in terms of volumes and valuesduring the forecast period.
Estimated Sales of Butyl Rubber in global market is valuedto be US$ 2,971.5Mn by the end of 2017, witnessing a Y-o-Y growth of 4.1%over the year 2016. APAC is expected to account for nearly 55% share in the global Butyl Rubber market by the end of 2017 and it is expected to retain their position during the forecast period.
Global Butyl RubberMarket to Register a CAGR of 4.7% during 2017 – 2025; Upsurge in production capacity across the globe, leads to surpass the consumption by the end of 2025
Global Butyl Rubber Market Dynamics
Significant growth in the vehicle production in Asia Pacific region and increasing vehicle parc across the globe, are the two major factors for the growth of tire industry. As, butyl rubber is indispensable raw material involve in the manufacturing of tires & tubes owing to high air retention property as to natural rubber. Thus, the growth of tire industry across the globe have significant impact on the growth of butyl rubber market. Moreover, increasing tire replacement rate across the globe that in turn helps to drive the demand for the butyl rubber over the forecast period. Also, increasing use of butyl rubber in the manufacturing of medicinal stopper helps to drive the butyl rubber market. Along with this, rise in demand for butyl rubber in the manufacturing of industrial and consumer good, supports for the growth of butyl rubber market. Moreover, increasing consumption of butyl rubber in the manufacturing of automotive parts and accessories that in turn helps to drive the market over the forecast period. Furthermore, butyl rubber market is highly consolidate market wherein the key manufacturer are focusing on the expansion of production facility in order to cater the rising demand and to enhance footprint in the global market. Across the globe, changing consumer preference towards halo butyl rubber is observed owing to its superior properties as compare to regular butyl rubber. Apart from this, the volatile raw material price is major factor that may hamper the growth of butyl rubber market.
Global Butyl Rubbers Market Forecast
Halo butyl rubber segment is projected to dominate the market in terms of values and volumes during the forecast period in the global butyl rubber market. Increasing demand for the bromo butyl rubber in the manufacturing of tire and tubes which in turn expected to drive the butyl rubber market. Moreover, consumption of chloro butyl rubber is expected to grow with the higher CAGR over the forecast period.
On the basis of application, in 2017, the tires & tubes segment accounted for 87.3%volume share. In terms of volume, the commercial & industrial segment is expected to grow at a CAGR of 5.0% over the forecast period.
Asia Pacific region continue to dominate the global butyl rubber market during the forecast period followed. APAC and North America are estimated to grow with CAGR of 5.3%and 4.3% over the forecast period. China is expected to hold major revenue share in the APAC Butyl rubber market over the forecast period. In APAC, consumption of butyl rubber is expected to increase to 1.1MnTons by the end of 2027 from 0.7 Mn Tons in 2017.
Global Butyl Rubber Market Competitive Landscape
Some of the key market participants included in the Global Butyl Rubber Market report are:Exxon Mobil Corporation, Lanxess AG, Zhejiang Cenway New Synthetic Material Co. Ltd., Formosa Synthetic Rubber Corporation, Reliance Industries Ltd., PanjinHeyun Industrial Group Co., Ltd., PJSC Nizhnekamskneftekhim, JSR Corporation, China Petroleum & Chemical Corp (Sinopec Corporation), PAO SIBUR Holding, and Royal Adhesives & Sealants, LLC.