Butyl Rubber Market Anticipated to Grow at a CAGR of 4.66% By 2021-2030

Pune, India, December 2018 /MRFR Press Release/- Market Research Future published a cooked research report on Global Butyl Rubber Market.

Overview

Butyl Rubber Market is projected to exhibit a CAGR of 4.66% during the forecast period (2021-2030).As per market analysts, the global market is anticipated to witness growth owing to the factors such as growing adoption from the automotive sector as well as the rising demand for vehicle tyres and tubing. However, the butyl rubber market will face challenges and restraints due to fluctuating raw material costs and volatile organic compound (VOC) pollution regulations during the forecast period 2021-2030

The growing demand and sales of passenger and commercial vehicles in the market is set to play a key role in determining the growth potential during 2021-2030 years. Analysts have also studied the market to understand potential threats and challenges the market companies could face. Although the market is poised to grow at a fast pace across type and application segments, factors such as factors such as fluctuating raw material costs could slow down the market's growth worldwide.

Market Segmentation

The market has been segmented into type and application. Based on the segment which is type, the market is categorized on the basis of brominated butyl rubber, chlorinated butyl rubber, and regular butyl rubber. The global market for butyl rubber is further segmented based on application into adhesives, mechanical goods, medicine bottles, sealant for rubber roof repair, tubeless tire liners, and others. Furthermore, the market, on the basis of end users, is segmented into automotive industry, construction industries, consumer products, pharmaceutical industry, rubber industries, and others.

The global market research report covers all the aspects of the market based on the segmental analysis of these type and application segments. Analysts have also studied the global market's regional markets spread across many continents and countries. The type and application segments along with their sub-segments have been analyzed and companies functioning in the market across these segments are profiled and analyzed based on input and feedback from market-based decision makers as well as primary and secondary sources. The market research report presents analysis-based information for companies functioning in the market.

Regional Overview

may hinder the market growth. The market research report suggests that companies in the market could be supported by growing demand for OEM tires as well as demand for raw materials and including butyl rubber during the forecast period. The market is set to register growth at a high CAGR owing to these key factors. The market is spread across North America, Europe, Asia-Pacific, and other parts of the world. The global market research report reveals that APAC, North America, and Europe regional markets will dominate the global market for butyl rubber during the forecast period 2018 to 2023. As per market analysts, the market is set to witness tremendous growth across Bromo butyl, tyres and tubes segments in North America which covers markets across the United States, Canada, Mexico and several other regional markets. Companies active in the market are also analyzed and studied in the butyl rubber market research report.

The market for Europe covers smaller market segments of Germany, Italy, France, and the United Kingdom. Additionally, the market research report covers the Asia-Pacific region covering markets from India, China, Japan, Australia, and others. The market is also spread across the rest of the world. The butyl rubber market report covers all such regions including the Middle East, Africa, Brazil, and others.

Competitive Landscape

Butyl rubber has seen increased demand over the years, due to the growing automotive industry and increased buying power. Companies functioning in the global butyl rubber market are also being challenged due to likely to threaten the development of the industry and the price volatility of raw materials and government policies. Based on SWOT analysis and market’s analysis based on Porters’ Five Force Model presented in the butyl rubber market report. Mergers and acquisitions by butyl rubber market companies are anticipated to help the market during the forecast period 2018 to 2023.

Industry News

The Goodyear Tire & Rubber Company as well as the Cooper Tire & Rubber Company also reached a binding agreement in which Goodyear would purchase Cooper for a revenue of approximately 2.5 billion. According to Goodyear, the merger would create a large US producer by merging the resources of both firms and expanding their manufacturing and retail platforms. Goodyear hopes that the new group will be able to take advantage of the combined impact of Goodyear's original parts and quality replacement tyre lines, as well as Cooper's mid-tier capacity, which is particularly strong in the light truck and SUV segments.

Read more About this Article-Butyl Rubber Market