PUBLISHER: The Business Research Company | PRODUCT CODE: 1619477
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619477
Butyl rubber is a synthetic rubber produced by polymerizing isobutylene, often combined with a small amount of isoprene. It is renowned for its exceptional gas impermeability, high elasticity, and resistance to aging and chemicals. These distinctive properties make butyl rubber highly versatile in industries where durability, flexibility, and gas impermeability are crucial.
The primary types of butyl rubber are regular butyl, bromo butyl, and chloro butyl. Regular butyl rubber is a general-purpose synthetic rubber valued for its excellent gas impermeability and low air permeability. It is used in a variety of applications, including adhesives and sealants for rubber roof repairs, tubeless tire liners, medicine bottles, and mechanical goods. This rubber serves a broad range of end users, such as the automotive industry, pharmaceutical industry, consumer products, rubber industries, and construction industries.
The butyl rubber market research report is one of a series of new reports from The Business Research Company that provides butyl rubber market statistics, including butyl rubber industry global market size, regional shares, competitors with a butyl rubber market share, detailed butyl rubber market segments, market trends and opportunities, and any further data you may need to thrive in the butyl rubber industry. This butyl rubber market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The butyl rubber market size has grown strongly in recent years. It will grow from $3.55 billion in 2023 to $3.75 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth observed during the historic period can be attributed to several factors, including the need for enhanced tire performance, expansion in various industrial applications, the demand for materials resistant to chemicals, rapid urbanization and infrastructure development, and growth in the packaging industry.
The butyl rubber market size is expected to see strong growth in the next few years. It will grow to $4.72 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The anticipated growth during the forecast period can be attributed to several factors, including the increasing demand for butyl rubber in waterproofing and sealing applications, a rise in infrastructure projects, expanding industrial development, and a growing need for automobile tires. Key trends expected during this period include advancements in polymer blending, technological innovations, a greater use in protective clothing, digital transformation in manufacturing, and a shift towards high-performance applications.
The growth of the butyl rubber market is anticipated to be driven by the expansion of the automotive industry. The automotive industry encompasses the design, development, manufacturing, marketing, and sale of motor vehicles. This sector is experiencing growth due to increased global demand fueled by rising middle-class incomes and technological advancements such as electric vehicles, which attract new consumers. Butyl rubber is crucial in the automotive industry due to its gas impermeability and durability, making it an ideal material for tire inner tubes and sealing components. For example, in May 2024, the European Automobile Manufacturers Association, a Belgium-based group representing the European Union automobile industry, reported a 13.7% increase in new car registrations in the EU from April 2023 to April 2024. Consequently, the expansion of the automotive sector is expected to drive demand for butyl rubber.
Key players in the butyl rubber market are investing in innovative products such as butyl waterproof tapes to enhance durability and cater to increasing demand in the construction and automotive sectors. Butyl waterproof tapes are high-performance sealing solutions made from butyl rubber, offering excellent waterproofing, adhesion, and durability, especially in demanding conditions. For instance, in August 2024, Weifang Senke Waterproof Materials Co. Ltd., a China-based manufacturer specializing in waterproofing products, introduced a new range of advanced butyl waterproof tapes. These tapes are designed for superior sealing in applications including roofing, automotive, and construction. The new product line features standard butyl waterproof tape, versatile Senke waterproof tape, and durable aluminum foil butyl waterproof tape. These tapes are engineered for high adhesion, flexibility, and weather resistance, providing effective sealing of joints, seams, and cracks while withstanding extreme weather conditions. They are user-friendly, easy to apply, and suitable for both residential and commercial use.
In August 2024, H.B. Fuller Company, a US-based adhesive manufacturer, acquired HS Butyl Limited for an undisclosed amount. This acquisition is intended to bolster H.B. Fuller's presence in the European waterproofing tape market and expand its product portfolio with HS Butyl's innovative technology. HS Butyl Limited is a UK-based producer specializing in butyl rubber.
Major companies operating in the butyl rubber market are ExxonMobil Corporation, Reliance Industries Limited, LG Chem, Michelin, Mitsui Chemicals Inc., Eastman Chemical Company, Sumitomo Rubber Industries Ltd., Sibur International GmbH, Versalis S.p.A., Kumho Petrochemical, Kuraray Co. Ltd., UBE Corporation, Synthomer plc, JSR Corporation, Nippon Zeon Co. Ltd., Nizhnekamskneftekhim, Zeon Corporation, Hexpol AB, Nynas AB, ARLANXEO, Kraton Corporation, Arakawa Chemical Industries Ltd., TSRC Corporation, Firestone Natural Rubber, Chang Horing Rubber Group, Lion Elastomers, Plasti Dip International, Tokyo Zairyo, Japan Butyl Co. Ltd.
Asia-Pacific was the largest region in the butyl rubber market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the butyl rubber market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the butyl rubber market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The butyl rubber market consists of sales of sealants, adhesives, inner tubes for tires, pharmaceutical closures, and protective gloves. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Butyl Rubber Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on butyl rubber market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for butyl rubber ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The butyl rubber market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.