Market Segmentation

Based on the application, the market has been segmented into adhesive and sealants, tires and tubes, pharmaceuticals, industrial and medical gloves and others. The tire and tubes segment is expected to reach a market valuation above USD 4 billion by the end of forecast period.  

Based on the type, the market has been segmented into bromobutyl, chlorobutyl and regular butyl. The bromobutyl currently commands the largest market share and is projected to surge at 5.21% CAGR, and acquire USD 2.2 billion.

Market Overview

The global butyl rubber market 2020 is expected to acquire USD 5.91 billion valuations at a 4.66% CAGR by 2030.

Market Highlights

Superior product properties relative to natural rubber are projected to have a positive scope for market growth over the review period in terms of tear strength, ageing, and heat resistance.

The market is powered by the rising need for car tyres for new vehicles and the replacement of old tyres. Growing demand for OEM tyres is projected to expand market growth over the coming years due to the increasing automotive industry. Butyl adhesive tapes are used for insulation purposes in electrical and electronic circuits, which are expected to have a positive scope for demand development. It is expected that growing hygiene issues and medical literacy among customers would propel medical gloves through clinics , hospitals, and veterinary health care organisations. Furthermore, the increasing usage of disposable surgical gloves is expected over the projected period to promote sustainable demand. In the next eight years, the rising building and pharmaceutical industries are anticipated to provide a positive scope for business development.

Environmental effects and safety have arisen as the industry's main concerns as butyl rubber is extracted from petrochemicals. A significant source of concern for the industry is the harmful effects of air pollution caused by the development of isobutylene.

Owing to the involvement of multiple players in the sector, the competition between companies in the market is expected to be moderate. Competition is awaited in terms of pricing and the availability of innovative and successful production methods.

Regional Overview

The market has been covered across significant regions globally, including Asia Pacific (APAC), North America, Latin America, Europe, and the Middle East & Africa (MEA).

APAC currently commands the largest share of the global market. The region's market is presently valued at more than USD 1.5 billion. Also, the region will continue to present lucrative opportunities to market players during the forecast period. A robust tire manufacturing industry, coupled with the fast-expanding parent industry, reflects favorably on APAC's butyl rubber market.  Emerging economies like China and India are witnessing tremendous aerospace, automotive, construction, and pharmaceutical sectors. In addition , increasing sales of passenger cars and commercial vehicles in these countries are also fostering demand development in the countries concerned.

North America was one of the strongest butyl rubber market growth, where the U.S. accounted for North America's highest market share. The new U.S. reforms have accelerated the rate of industrialization across the country, which over the projected horizon is expected to provide a favourable scope for business growth. It is anticipated that the presence of various hospitals , medical institutions, and clinics combined with customer healthcare awareness would boost the market for goods in the application of medical gloves.

Pharmaceuticals, manufacturing, and the car sectors have been greatly impacted by tight government restrictions combined with an economic recession in Europe. The region's growth rate is estimated to be limited relative to Asia Pacific and North America due to a decline in the application industries.

Competitive Dashboard

JSR Corporation, Arlanxeo, Sibur International GmbH, China Petrochemical Corporation, PJSC Nizhnekamskneftekhim, Reliance Industries Limited, Zhejiang Cenway New Synthetic Materials Co., Ltd, and Exxon Mobile Corporation, and others.