The global Butyl Rubber market is forecast to reach USD 6,859.8 Million by 2028, according to a new report by Reports and Data. Butyl rubber is a type of synthetic rubber used mostly in tires and tubes, as it consists of unique properties such as excellent resistance to heat, chemicals & ozone, permeability to gas, and high low-temperature flexibility. It is also used in adhesives, sealants, protective clothes, closures, pharmaceutical stoppers, electrical cables, vials & tubes, hoses, and shoe soles.
Reports and Data has added a new investigative report on the Global Butyl Rubber Market that offers insightful data about market dynamics such as drivers and restraints, growth opportunities and prospects, current and historic data, segments and sub-segments, and recent technological advancements in the market. The report provides market estimations such as market size, market share, revenue growth, and CAGR, and market analysis for the forecast period of 2021-2028. The report also offers a comprehensive analysis of the competitive landscape with company profiles and product portfolios. To provide a deeper understanding of the global market, the report offers a statistical analysis of the global and local production and consumption ratio.
Key companies in the report:
Lanxess, JSR, Sinopec Beijing Yanshan, Sibur, Panjin Heyun Group, Zhejiang Cenway Synthetic New Material, Formosa Synthetic Rubber, ExxonMobil, PJSC NizhneKamskneftekhim, and Reliance Industries Limited, among others.
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Further key findings from the report suggest
There are new regulations that require manufacturers to reduce the consumption of fuel of both tractors and trailers. Market players are improving fuel efficiency by focusing on developing innovative materials and high-grade butyl rubber, such as halo-butyl rubber. The application of halo-butyl in the tire tread application improves its dynamic properties such as improved wet and dry traction and improved performance in rolling resistance.
The market product is used in the explosives industry for the manufacture of plastic explosives. The increasing demand for the compound as a binding agent in explosives coupled with the rise in demand from the mining industry for explosives is driving its demand in the coming period.
The increasing demand for butyl rubber for roof repairing and damp proofing is expected to propel the growth of the market. Moreover, the usage of food-grade butyl rubber in food applications is expected to propel the demand in the sector.
North America is forecasted to hold a market share of 20.3% in the year 2018. The region is switching to environmentally friendly products, and the growth in industrialization and automotive are fueling the demand for the market product.
For the purpose of this report, Reports and Data have segmented into the global Butyl Rubber market on the basis of product, applications, end users, and region:
Product Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)
Applications Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)
Tires & lubes
Adhesives, sealants, stoppers
Industrial & medical gloves
End Users Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)
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Key companies are focused on mergers and acquisitions, joint ventures, collaborations, partnerships, product launches, brand promotions, and R&D activities among others to cater to growing global demand and gain a strong foothold in the market. The report also analyzes the presence of key companies, their ventures, and investment and funding opportunities in key regions of the world including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The study covers critical information and factual data about the Butyl Rubber industry along with an in-depth statistical analysis of the market drivers, limitations, growth prospects, opportunities, and threats. The report also covers SWOT analysis and Porter’s Five Forces analysis to offer better understanding of the competitive landscape of the global Butyl Rubber market.
Key Features of Global Butyl Rubber Market:
The report offers a deep insight into the market with expert data insights from the industry experts and analysts
Dedicated focus on market growth and restraining factors
Thorough analysis of the market segments includes product types, application spectrum, technology, end-user, and other key segments
Current and emerging market trends and growth prospects
A detailed market forecast covering 8 years from 2021 to 2028
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