Butyl Rubber Market Size, Share, Trends, Growth 2030
Butyl Rubber Industry Prospective:
The global butyl rubber market size was evaluated at $5 billion in 2022 and is slated to hit $8 billion by the end of 2030 with a CAGR of nearly 6.7% between 2023 and 2030.
Butyl Rubber Market: Overview
Butyl rubber is also referred to as isobutylene-isoprene rubber and is produced through cationic polymerization. Precisely, the product is a synthetic one and is a copolymer of isoprene & isobutylene. Moreover, butyl rubber is manufactured through polymerizing of nearly 98% of isobutylene and approximately 2% of isoprene. Additionally, the product demonstrates improved impermeability towards water & air and hence finds a slew of applications in airtight containers. Additionally, butyl rubber possesses features such as heat resistance and hence is preferred over traditional rubber.
Key Insights
- As per the analysis shared by our research analyst, the global butyl rubber market is projected to expand annually at the annual growth rate of around 6.7% over the forecast timespan (2023–2030)
- In terms of revenue, the global butyl rubber market size was evaluated at nearly $5 billion in 2022 and is expected to reach $8 billion by 2030.
- The global butyl rubber market is anticipated to grow rapidly over the forecast timeline owing to an increase in the use of products in the automotive sector.
- In terms of product, the bromo butyl segment is slated to register the highest CAGR over the analysis period.
- Based on application, the tires & lubes segment is projected to record a massive surge in the coming years.
- Region-wise, the North American butyl rubber industry is expected to register the fastest CAGR during the assessment timeline.
Request Free Sample
Butyl Rubber Market: Growth Factors
An increase in the use of products in the automotive sector to drive global market trends
The flourishing automotive sector along with a surge in the manufacture of tires will embellish the expansion of the butyl rubber market across the globe in the years ahead. Outstanding features such as chemical and weather resistance will embellish the global market trends. Immense use of products in consumer goods, construction, and healthcare sectors will steer the expansion of the market globally. Additionally, butyl rubber sorbent enabled in removal of PAH toxicity to a greater extent. In addition to this, the escalating use of the product for repairing roofs has prompted global market demand. The rise in the use of butyl rubber as a sealant will further enlarge the scope of the global market surge in the upcoming years. New product launches will contribute majorly towards the global market revenue in the coming years. For instance, in February 2021, Sibur, the largest liquefied petroleum exporter based in Russia, declared launching a production unit at halobutyl rubber unit in India. Such moves will steer the expansion of the market across the globe in the years ahead.
Butyl Rubber Market: Restraints
The negative impact of the product on the global environment can restrict global industry expansion by 2030
Adverse impact on the environment due to the use of butyl rubber with the latter produced from petrochemicals can impede the product demand in the coming years. The negative impact of air pollution caused by isobutylene production can also hinder the growth of the global butyl rubber industry.
Butyl Rubber Market: Opportunities
Beneficial product features have culminated in huge market growth across the globe in recent years
With non-allergic features, the market for butyl rubber is predicted to gain traction in the years ahead. Furthermore, high elasticity and resilience properties have increased its demand in the medical equipment sector, thereby generating a slew of opportunities for the global market.
Butyl Rubber Market: Challenges
Strict government laws related to product utilization in various sectors can prove a huge challenge for the global industry
Strict laws restricting the production of products owing to their toxic nature are likely to restrict its sale in the forthcoming years. Lack of raw material supply leading to an increase in the costs of products can further downscale the growth of the industry globally.
Butyl Rubber Market: Segmentation
The global butyl rubber market is sectored into product, application, and region.
In product terms, the global butyl rubber market is segregated into chloro butyl, bromo butyl, and regular butyl segments. Furthermore, the bromo butyl segment, which acquired approximately 60% of the global market revenue in 2022, is expected to register the highest gains in the next couple of years. The growth of the segment during the projected timeframe can be ascribed to large-scale demand for products in the consumer goods and automotive sector owing to its superlative features such as chemical resistance and resistance to extreme temperatures.
Based on the application, the global butyl rubber industry is sectored into pharmaceutical & healthcare, adhesives, industrial & medical gloves, sealants, tires & lubes, stoppers, consumer products, and others segments. Moreover, the tires & lubes segment, which accumulated the largest share of the global industry in 2022, is anticipated to dominate the segmental sphere in the upcoming years. The expansion of the segment in the forecasting years can be owing to the massive use of butyl rubber in the tires & lubes segment.
Butyl Rubber Market: Report Scope
Report AttributesReport DetailsReport NameButyl Rubber MarketMarket Size in 2022USD 5 BillionMarket Forecast in 2030USD 8 BillionGrowth RateCAGR of 6.7%Number of Pages204Key Companies CoveredTimco Rubber, Nizhnekamskneftekhim JSC, Reliance Industries Ltd., Togliattikauchuk Ltd., Lanxess AG, Japan Butyl Company, Kiran Rubber Industries Pvt. Ltd., ExxonMobil Chemical, Yanhua Petrochemical Company, and others.Segments CoveredBy Product, By Application, and By RegionRegions CoveredNorth America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)Base Year2022Historical Year2017 to 2021Forecast Year2023–2030Customization ScopeAvail customized purchase options to meet your exact research needs. Request For Customization
Butyl Rubber Market: Regional Insights
Asia-Pacific is predicted to maintain its dominant position in the global butyl rubber market over the prognosis timespan
Asia-Pacific, which amassed approximately two-thirds of the global butyl rubber market revenue share in 2022, is expected to lead the regional space in the ensuing years. In addition to this, the regional market expansion over the ensuing years can be credited to the rise in the use of products in various end-use sectors such as automotive, healthcare, and construction in countries such as Malaysia, India, China, Thailand, Bangladesh, Maldives, and Sri Lanka. Apart from this, the presence of key manufacturers and vendors in the sub-continent will steer the expansion of the market in the region.
North American butyl rubber industry is set to register the fastest CAGR in the upcoming years due to the thriving pharmaceutical sector in countries such as the U.S. and Canada. Furthermore, the rise in the use of medical gloves in the healthcare sector in the region will promote regional industry trends.
Butyl Rubber Market: Competitive Space
The global butyl rubber market profiles key players such as:
- Timco Rubber
- Nizhnekamskneftekhim JSC
- Reliance Industries Ltd.
- Togliattikauchuk Ltd.
- Lanxess AG
- Japan Butyl Company
- Kiran Rubber Industries Pvt. Ltd.
- ExxonMobil Chemical
- Yanhua Petrochemical Company
The global butyl rubber market is segmented as follows:
By Product
- Bromo Butyl
- Regular Butyl
- Chloro Butyl
By Application
- Adhesives
- Sealants
- Stoppers
- Consumer Products
- Tires & Lubes
- Pharmaceutical & Healthcare
- Industrial & Medical Gloves
- Others
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa