The butyl rubber global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Butyl Rubber Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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 in the historic period can be attributed to need for improved tire performance, growth in various industrial applications, need for materials resistant to chemicals, rapid urbanization and infrastructure development, 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 growth in the forecast period can be attributed to rising demand for butyl rubber in waterproofing and sealing applications, increased infrastructure projects, rising industrial development, and growing demand of automobile tires. Major trends in the forecast period include advancements in polymer blending, technological innovations, increased use in protective clothing, digital transformation in manufacturing, and shift toward high-performance applications.
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Scope Of Butyl Rubber Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Butyl Rubber Market Overview
Market Drivers –
The expansion of the automotive industry is expected to propel the growth of the butyl rubber market going forward. The automotive industry refers to the economy sector focused on designing, developing, manufacturing, marketing, and selling motor vehicles. The automotive industry is expanding due to growing global demand driven by rising middle-class incomes and technological innovations such as electric vehicles that attract new customers. Butyl rubber is valuable in the automotive industry for its gas impermeability and durability, making it ideal for tire inner tubes and sealing components. For instance, in May 2024, according to the European Automobile Manufacturers Association, the Belgium-based lobbying and standards group for the European Union automobile industry, new car registrations in the European Union increased by 13.7% between April 2023 and April 2024. Therefore, the expansion of the automotive industry is expected to drive the butyl rubber market.
Market Trends –
Major companies in the butyl rubber market are focusing on developing innovative solutions, such as butyl waterproof tapes, to enhance product durability and meet the growing demand in the construction and automotive industries. Butyl waterproof tapes are high-performance sealing solutions made from butyl rubber, offering superior waterproofing, adhesion, and durability, particularly in harsh environments. For instance, in August 2024, Weifang Senke Waterproof Materials Co. Ltd., a China-based manufacturer of the waterproofing industry, launched a new range of advanced butyl waterproof tapes designed for superior sealing solutions in various applications such as roofing, automotive, and construction. The product line includes standard butyl waterproof tape, versatile Senke waterproof tape, and durable aluminum foil butyl waterproof tape, all engineered for exceptional adhesion, flexibility, and weather resistance. Butyl waterproof tapes are engineered for high quality and durability, offering exceptional adhesion and flexibility that make them ideal for effectively sealing joints, seams, and cracks. These tapes are designed to withstand extreme weather conditions and provide long-lasting protection against water, moisture, and air leaks. Additionally, they are user-friendly and easy to apply, ensuring quick and efficient installation, making them suitable for residential and commercial use.
The butyl rubber market covered in this report is segmented –
1) By Type: Regular Butyl, Bromo Butyl, Chloro Butyl
2) By Application: Adhesives, Sealant For Rubber Roof Repair, Tubeless Tire Liners, Medicine Bottles, Mechanical Goods, Other Applications
3) By End-User: Automotive Industry, Pharmaceutical Industry, Consumer Products, Rubber Industries, Construction Industries, Other End-Users
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Regional Insights –
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.
Key Companies –
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.
Table of Contents
1. Executive Summary
2. Butyl Rubber Market Report Structure
3. Butyl Rubber Market Trends And Strategies
4. Butyl Rubber Market – Macro Economic Scenario
5. Butyl Rubber Market Size And Growth
…..
27. Butyl Rubber Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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