The Butyl Rubber Market is expected to reach USD 7.52 Billion by 2027.
The growing demand for butyl rubber for roof repair will drive the growth of the butyl rubber market in the coming years. Besides, the growth of butyl rubber demand in plastic manufacturing is also expected to drive the market. Growing demand for tubeless tire liners and tire tubes in developing countries due to increasing vehicles pool and rising automotive production across different countries. Key factor of demanding market is maximum use of flooring adhesives and sealant tapes in different construction.
Major competitors leading in butyl rubber market are ExxonMobil, Lanxess, Sibur, Zhejiang Cenway Synthetic New Material, Formosa Synthetic Rubber (Ningbo), Panjin Heyun Group, PJSC NizhneKamskneftekhim, Sinopec Beijing Yanshan.
ExxonMobil updated for environmental pressure and fuel efficiency demands force the automotive industry to work to decrease CO2 emissions continuously. Fuel-efficient tires with inner liners made with halobutyl rubber can reduce fuel consumption and emissions. Flexilis Pvt Ltd is authorised stockist and importer of Exxon Butyl rubber in India.
The global butyl rubber market is majorly segmented on the basis of types, application, and region. Based on types butyl rubber the market is segmented into regular butyl rubber, chlorinated butyl rubber, brominated butyl rubber. Based on application of butyl rubber the market is segmented into sealant for rubber roof repair, tubeless tire liners, medicine bottles, mechanical goods, and others. And based on region market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. Asia-Pacific will estimate largest share in butyl rubber market in upcoming years where North America is expected to second highest share in industry area. Also increased demand for butyl rubber across pharmaceutical, automotive & adhesives industries.
As growing population and increasing automobile sector this butyl rubber will expand in near future. Various types of butyl product in which bromo butyl offers highest stability over other butyl which is turn is expected to positively affect the market growth. New technologies in application of rubber covered the revenue of market in large scale.
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