Increasing application of butyl rubber across various end-use industries such as automotive, construction, pharmaceutical, textiles, and others is a key factor driving market growth
NEW YORK, Oct. 27, 2021 /PRNewswire/ -- Reports and Data has published its latest report titled "Butyl Rubber Market By Type (Regular Butyl Rubber, Brominated Butyl Rubber, Chlorinated Butyl Rubber), By Application (Coatings, Adhesives & Sealants, Tubes & Tires, Wires & Cables, Gaskets, Membranes, Footwear, Conveyer Belts, Protective Clothing, Others), By End-use (Construction, Industrial, Textile Industry, Rubber Industry, Automotive, Medical, Pharmaceutical, Others), and By Region Forecast to 2028."
According to Reports and Data, the global butyl rubber market size was USD 3,906.7 million in 2020 and is expected to reach USD 6,859.8 million in 2028 and register a revenue CAGR of 7.4% during the forecast period, 2021-2028.
Butyl rubber is an elastomeric polymer and is used as primary binder and modifier in adhesives and sealants. The material is a copolymer of isobutylene with minute quantities of isoprene and having low strength. Butyl rubber is also used extensively in packaging applications where the material's low permeability to gases, vapors, and moisture can be advantageous. Butyl rubber has excellent shock absorption characteristics and is vital for various commercial applications. Butyl rubber is also impermeable to air and used in applications where airtight rubber is required. In addition, it is also used as an adhesive sealant for damp roofing, rubber roof repair, and for proper maintenance of roof membranes and these key factors are expected to drive market revenue growth to a significant extent over the forecast period. Butyl rubber also has a wide range of applications in pharmaceutical and biotechnology industries and butyl rubber stoppers have proven to significantly increase the shelf-life of sterilized media and this is expected to further contribute to revenue growth of the market going ahead.
Butyl rubber is a copolymer of isobutylene and isoprene and is widely used in tubes and in the liners of tubeless tires owing to lower air permeability as compared to other synthetic or natural rubbers. Butyl rubber does not break down easily during the routine mixing process in the mill and has high tensile strength and high resistance to oxidation and many chemicals. These excellent physical and mechanical properties make the material highly suitable for the production of inner tubes and in electric wire and cable insulation, steam hoses, adhesives, and mechanical goods. Butyl rubber can be readily applied on factory equipment and due to its excellent chemical stability, is also used as a serviceable replacement for rubber in various other applications. For instance, butyl rubber acts as a robust elastomer on exposure to warfare agents and decontamination materials as it is harder, less porous, but has sufficient elasticity to form an airtight seal. This has further boosted its use in creating seals in gas masks and protective clothing and is another key factor expected to fuel revenue growth of the market going ahead.
Another application of butyl rubber is chewing gums, in which food-grade butyl rubber is used as the central gum base. It offers elasticity and renders a stubborn and sticky quality to the gum. In addition, a majority of modern surround-sound speakers use butyl rubber as an alternative to foams due to deteriorating nature of foams is expected to drive revenue growth of the market going ahead. However, volatility in raw material prices and stringent regulatory policies concerned with Volatile Organic Compounds (VOCs) released during rubber production can hamper market growth to a significant extent over the forecast period.
COVID-19 Impact Analysis
Social distancing and restrictions severely disrupted businesses and operations
Lockdowns caused disruptions in transportation and logistics
Impacted manufacturing activities and mining operations globally
Took a toll on economy of various countries
Caused sudden and drastic downturn in economic activity
Disrupted agriculture, fisheries, dairy, and other sectors
Caused loss of employment and financial crisis
Supply impacts were further compounded owing to reduced disposable income
Emergence of variants continue to cause concerns and impact normal routines
Regular Butyl Rubber Segment to Account for Largest Revenue Share:
Regular butyl rubber is extensively used in the production of of automotive tubes and tires owing to numerous advantages such as high durability and tensile strength, efficient heat control and stability, and consistent inflation pressure and these key factors are expected to contribute to steady revenue growth of the regular butyl rubber segment.
Rising Demand for Butyl Rubber from Automotive Sector:
Automotive segment is expected to dominate other end-use segments in terms of revenue growth, which can be attributed to increasing use of butyl rubber in the production of tubeless tires and in tire tubes. Rising demand for more robust tires due to rising production of commercial and passenger vehicles in countries across the globe is another key factor expected to contribute to revenue growth of this segment. Butyl rubber is also used as a sealant for gap filling, sealing out liquids, sealing joints and cracks, and as a vibration dampener.
North America to Account for a Significantly Large Revenue Share:
North America is expected to account for a significantly larger revenue share over the forecast period, attributable to increasing investment for manufacturing of high-performance tires and tubes, presence of a large automotive industry, and increasing use of superior-quality rubber products in residential and commercial construction applications.
Asia Pacific to Lead in Terms of CAGR:
Asia Pacific market is expected to register robust revenue CAGR over the forecast period owing to increasing production of rubber in countries in the region, rising demand for luxury passenger vehicles, increase in number of construction activities, and rapid urbanization and industrialization in countries in Asia Pacific.
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