A global research report called Butyl Rubber Market was recently published by Reports and Data to provide guidance for business. The report also focuses on global major leading industry players of the Butyl Rubber market providing information such as company profiles, product picture, and specification, price, capacity, cost, production, revenue, and contact information. The Global Butyl Rubber market is expected to develop at a substantial CAGR in the coming years. The most significant factor driving the growth of this market is rising investments in the market. Investments in the Butyl Rubber market have witnessed huge growth over the past few years. This report also states import and export consumption, supply and demand figures, cost, price, revenue, and gross margins.
The report also presents a comprehensive analysis of the global Butyl Rubber market in view of the Covid-19 pandemic. The pandemic has affected the market in terms of sales, production, financial investment, international trade activities, and market disruption. The global Butyl Rubber market is expected to reach USD 6,859.8 Million By 2028 from USD 3,906.7 Million in 2020 at a CAGR of 7.4%.
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With the growth in the manufacture of vehicles, the demand for tires is also expected to rise in the original equipment manufacturing market. This will have a significant impact on the market as butyl rubber is an indispensable raw material used for the manufacture of tires and tubes. Market players are also focusing on the replacement of old tires in keeping with new emission standards. The excellent gas barrier & good flex characteristics of butyl rubber has boosted its use across various industries. The butyl rubber sorbent has helped in removing PAH toxicity to a larger extent. The escalating use of the product for repairing roofs will propel the growth of the industry over the forthcoming years.
Advancements in R&D technology, the development of new business models, and the emergence of disruptive technologies have brought about dynamic changes in the global market over the recent past. Growing demand for personal care products, increasing demand from end-use industries, and rapid advancement in e-commerce sales channels have given rise to lucrative growth opportunities in the sector. Key companies are focusing on the current and emerging trends to capitalize on the market opportunity.
Europe occupies a significant market share of 19.8% in the year 2020 in the butyl rubber market. The compound is environment-friendly in nature, and the region is a large consumer of the product. The U.S., Germany, and China are the primary consumer base as well as production base.
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Key companies profiled in the report include:
Lanxess, JSR, Sinopec Beijing Yanshan, Sibur, Panjin Heyun Group, Zhejiang Cenway Synthetic New Material, Formosa Synthetic Rubber, ExxonMobil, PJSC NizhneKamskneftekhim, and Reliance Industries Limited, among others.
Product Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)
- Regular butyl
- Bromo butyl
- Chloro butyl
Applications Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)
- Tires & lubes
- Adhesives, sealants, stoppers
- Industrial & medical gloves
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End Users Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)
- Consumer Goods
- Rubber Industry
Detailed Regional Analysis Covers:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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