The global butyl rubber market is expected to grow at a CAGR of 4.7%, from 2017-2025, and reach a market valuation of over US$4 billion by the end of 2025, according to a report by Persistence Market Research.
The rise in demand for butyl rubber, which is a synthetic rubber manufactured by the copolymerisation of isobutylene with isoprene, is due to its growing applications. And while it is mainly used in the tyres and tubes industry, the sector is witnessing a rapid increase in demand from the pharmaceutical industry.
The report titled “Butyl Rubber Market: Global Industry Analysis 2012-2016 and Forecast 2017-2025” also says that another driver of the market is an increase in the rate of tyre replacements taking place in the automobile industry. With the projected growth of the market, manufacturers are focusing on increasing production capacity of butyl rubber to cater to the ever increasing demand in various applications. Global market companies are also planning their overseas business development and sales in addition to the domestic market.
The new report highlights the overall scenario as well as the forecast for the global butyl rubber market. The report further throws light on the key dynamics that are likely to impact the growth of the global butyl rubber market.
Based on applications, the global butyl rubber market is expected to witness maximum demand from the tyres and tubes segment, which is projected to reach a market value of over US$3.7 billion by the end of 2025.
- Based on applications, the global butyl rubber market is expected to witness maximum demand from the tyres and tubes segment, which is projected to reach a market value of over US$3.7 billion by the end of 2025.
- On the basis of rubber type, halo-butyl rubber is expected to lead the market with a market share of over US$3.5 billion by the end of 2025, growing at a robust CAGR of 5% during the forecast period. Among the different types of halo butyl rubbers, bromo-butyl contributes the most in the growth of the halo butyl rubber market.
- In terms of regions, APAC leads the global market with a high margin. The APAC butyl rubber market is expected to reach a valuation of over US$2.4 billion by the end of 2025, with a growth rate of 5.3% during the forecas