Butyl Rubber Market Size

Butyl Rubber Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

The Butyl rubber market will be worth $ 4 billion in 2023 and will stay there until 2030. This stability reflects a CAGR of 4.6% from 2022 to 2030, which suggests that the demand for Butyl rubber will be stable in various applications. Butyl rubber is an essential material for the automotive, pharmaceutical and consumer goods industries, where it is used for its excellent air permeability and chemical resistance. The Butyl rubber market is growing due to several factors, including the advancement of manufacturing technology and the increasing demand for high-performance materials. Butyl rubber is now available in a wide range of applications. The leading companies in the market, such as ExxonMobil, Lanxess and Goodyear, are actively involved in strategic initiatives, such as establishing strategic alliances and investing in research and development, to enhance the quality and performance of their products and ensure their sustainable development. ExxonMobil's recent investment in the production of eco-friendly butyl rubber is an example of the industry's transition to sustainable practices.

Regional Market Size

Regional Deep Dive

Butyl rubber is a polymer rubber that is used in many industries, such as the automotive industry, the medical industry, the consumer goods industry, etc. In North America, the use of butyl rubber in tire production and the trend towards using sustainable materials are driving the market. Europe is characterized by a strong emphasis on innovation and compliance, especially in the automobile industry. The Asia-Pacific region is characterized by rapid industrialization and urbanization, which is driving the demand for butyl rubber. The Middle East and Africa region is characterized by the expansion of its manufacturing industry, and Latin America is gradually gaining market share, driven by the growth of the automobile industry and the development of the region's economy.

North America

• The American Environmental Protection Agency (EPA) has tightened the rules for exhaust emissions, so car manufacturers are looking for better performance and lower emissions in new materials like butyl rubber.
• Major companies like ExxonMobil and Lanxess are investing in research and development to develop high-performance butyl rubbers that meet the evolving needs of the automotive and medical industries.
• Butyl rubber is influenced by the emergence of electric vehicles. The manufacturers are looking for lightweight and energy-efficient materials to improve the performance of their electric vehicles.

Europe

• The Green Deal is a European policy for sustainable development. It is driving the demand for more sustainable butyl rubber alternatives, particularly in the automobile industry.
• Butyl rubber is being used in the manufacture of tires, mainly by Michelin and Continental, to improve fuel economy and reduce CO2 emissions.
• The new regulations on the use of certain chemicals in the manufacture of rubber are forcing manufacturers to change their processes. This is expected to drive innovation in the butyl rubber market.

Asia-Pacific

• China's rapid industrialization and urbanization have greatly increased the demand for butyl rubber, especially for tires and building materials.
• The Indian government is promoting the 'Make in India' programme and wants to stimulate the domestic production of butyl rubber and reduce its dependence on imports. This is expected to increase the market growth.
• CHAPTER XV The expansion of the production capacity of the leading companies in the region, such as Sinopec and LG Chem, in order to meet the increasing demand, is expected to lead to the development of the industry, the rise of prices and the development of technology.

MEA

• Butyl rubber is used in the construction and automobile industries.
• In the field of industrial products, local manufacturers are collaborating with foreign companies to improve the quality of products to the level of the international standard, thus promoting the development of the market.
• Regulations are evolving to encourage the development of sustainable products.

Latin America

• Brazil’s motor industry is booming, and the country’s demand for butyl rubber for tyres and other parts has gone up.
• Butyl rubber is a new chemical substance which was discovered in 1886. Butyl rubber is used in the manufacture of rubber goods, and its use is expected to be increasing.
• The region is undergoing a general trend towards sustainable materials. The companies are working on bio-based alternatives to butyl rubber.

Did You Know?

“Butyl rubber is known for its properties of retaining air and is used by tire manufacturers because it can help reduce fuel consumption by reducing air loss.” — International Institute of Synthetic Rubber Producers (IISRP)

Segmental Market Size

Butyl rubber is characterized by steady growth, mainly due to the increasing demand from the automobile and medical industries. It is mainly the need for high-quality materials in tire production and the good barrier properties of butyl rubber in medical applications that are driving growth. Further, regulations encouraging the use of sustainable materials and the search for eco-friendly alternatives will further stimulate demand.

In the present day the use of butyl rubber is at a mature stage. ExxonMobil and Lanxess are the leading companies in the field, and they are constantly improving the production process. North America and Europe are in the forefront of countries using butyl rubber and are taking advantage of the most advanced technology to enhance the properties of the product. Butyl rubber is used in tire linings, sealants and adhesives where its unique properties are particularly advantageous. However, butyl rubber is also used in the manufacture of other products, such as butyl rubber foams, and is being developed further. The trends of the market are the introduction of sustainable practices and the development of polymer technology.

Future Outlook

Butyl rubber has been a product of chemistry and industry for many years. It is a derivative of methyl alcohol and is used in a number of rubber products. Its market is expected to grow at the same rate as at present, to the value of $4,000,000,000, owing to the wide range of its applications in the fields of automobiles, medicine, and household appliances. In the tire industry, butyl rubber is expected to grow, with an increase in tire production to about 30% in the year 2023, and then to about 36% in the year 2030.

Butyl rubber is a substance of which the polymerization and the reprocessing are destined to give it a new and more desirable character. The biobutyl rubbers, which are the future, will be pushed by the growing interest in the environment and the growing concern for the environment. But other trends, such as the use of smart materials and the increase in the number of electric vehicles, will also influence the evolution of the butyl rubber market, which will be more resistant and more growing in the coming years.