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Butyl Rubber Market was valued at USD 3.57 billion in 2021 and is expected to reach USD 5.30 billion by 2029, registering a CAGR of 5.05% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

Butyl rubber is a type of polymer or synthetic rubber and has different chemical and physical properties. It is linked with two monomers, isobutylene and isoprene. There are numerous applications of butyl rubber which includes high flexibility, biocompatibility, air tight and gas impermeability (specific), good vibration damper, good weathering, and chemical and heat resistance. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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In July 2021, MRF, the world’s largest tyre manufacturer, has stated that it is considering developing raw materials with domestic partners in order to reduce reliance on imports. The company collaborates with domestic sources to develop raw materials such as sulphur, butyl rubber, microcrystalline wax, and tackifier resin as part of the import replacement programme.

In May 2021, Local voters have approved PJSC Nizhnekamskneftekhim (NKNH) proceeding with a technical re-equipment. The company held a public hearing on April 30 to discuss the project’s dimensions and environmental impact assessment. As part of the technical improvement, NKNH will reduce butyl rubber production at its production site and convert a 50 kilotonne per annum capacity to halobutyl rubber, a major raw material for tyre manufacturing. The decision was made in response to rising demand for environmentally friendly and cost-effective tubeless tyres.

In August 2020, Cenway finished a butyl rubber upgrade project in Panjin, Liaoning province, and began production on August 18. According to local government, the synthetic rubber manufacturer established a wholly owned subsidiary in Panjin last December called Panjin Cenway New Materials. As per the official document, Cenway acquired butyl rubber facilities in the city, and the upgrade project took three months to complete.

Major Players in Butyl Rubber Markets Are:

Global Butyl Rubber Market Segmentation:

The butyl rubber market is segmented on the basis of type, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

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This section deals with understanding the market drivers, opportunities, restraints and challenges. All of this is discussed in detail as below:

The global market for butyl rubber benefits from the rising demand for vehicle tires and tubing. The growing automotive industry further boosts the expansion of the market for OEM tyres. With the continued growth of the automotive industry in developing economies, demand for raw materials, such as butyl rubber, has risen dramatically. Thanks to rising purchasing power, the sales of passenger and commercial vehicles are soaring in countries like China, Mexico, and India.

Butyl rubber has excellent properties such as chemical resistance and high flexibility when used in tyres and tubes. It has the property of gas permeability and will extend the life of the tire. Also, due to its low gas permeability and flexibility, it is an excellent material for tire inner tubes. The growing recognition and awareness regarding these beneficial properties is estimated to have huge demand across various industries.

The increased use of butyl rubber as a sealant material in construction and other applications has fueled the butyl rubber market’s growth. The construction industry has been open to the use of insulation innovations, which has increased demand for butyl rubber in the construction industry. High demand for the butyl rubber’s demand as a binding agent in explosives and the mining industry’s demand for explosives will drive its demand over the forecast period. Moreover, the butyl rubber is also experiencing a surge in demand from a variety of other application areas such as the protective clothing, pharmaceutical stoppers, closures, vials and tubes, electrical cables, hoses, and shoe soles among others. As a result, the increased demand across the industries will accelerate the market growth.

Furthermore, the emergence of an existing tire-recycling industry in these countries also provides an incentive for marketing. The rising demand for butyl rubber for damp proofing and roof repair is expected to propel this market forward in the coming years. Furthermore, the use of food-grade butyl rubber in food applications is expected to boost demand.

Furthermore, various developments by the market players such as new ways to reduce or mitigate the environmental harm caused by butyl rubber production as part of their corporate social responsibility efforts extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the surging focus towards developing innovative materials and high grade butyl rubber, such as halo-butyl rubber to improve fuel efficiency will further expand the future growth of the butyl rubber market.

The butyl rubber industry is threatened by raw material price volatility and government policies that affect the price of butyl rubber. These factors are estimated to reduce the affordability of butyl rubber by other small end use firms, which is estimated to the hamper the overall industry’s development.

Also, there are various VOC pollution regulations that are associated with the butyl rubber due to rubber processing, which is anticipated to be a demerit for the butyl rubber market. Therefore, this factor will challenge the butyl rubber market growth rate.

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Some Points from Table of Content:

Market Overview: It includes six chapters, research scope, major manufacturers covered, market segments by type, Butyl Rubber market segments by application, study objectives, and years considered.

Market Landscape: Here, the competition in the Worldwide Butyl Rubber Market is analyzed, by price, revenue, sales, and market share by company, market rate, competitive situations Landscape, and latest trends, merger, expansion, acquisition, and market shares of top companies.

Profiles of Manufacturers: Here, leading players of the global Butyl Rubber market are studied based on sales area, key products, gross margin, revenue, price, and production.

Market Status and Outlook by Region: In this section, the report discusses about gross margin, sales, revenue, production, market share, CAGR, and market size by region. Here, the global Butyl Rubber Market is deeply analyzed on the basis of regions and countries such as North America, Europe, China, India, Japan, and the MEA.

Application or End User: This section of the research study shows how different end-user/application segments contribute to the global Butyl Rubber Market.

Market Forecast: Production Side: In this part of the report, the authors have focused on production and production value forecast, key producers forecast, and production and production value forecast by type.

Research Findings and Conclusion: This is one of the last sections of the report where the findings of the analysts and the conclusion of the research study are provided.

TOC of This Report @https://www.databridgemarketresearch.com/toc/?dbmr=global-butyl-rubber-market

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