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The global butyl rubber market at a CAGR of over 3% during the forecast period

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Global Butyl Rubber Market: About this market This butyl rubber market analysis considers sales from tire, medical application, adhesives and sealants, and other applications. Our study also finds the sales of butyl rubber in APAC, Europe, MEA, North America, and South America.

New York, Jan. 13, 2020 (GLOBE NEWSWIRE) -- announces the release of the report "Butyl Rubber Market by Application and Geography - Forecast and Analysis 2020-2024" -
In 2019, the tire segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as increasing demand from the automotive industry will play a significant role in the tire segment to maintain its market position. Also, our global butyl rubber market report looks at factors such as growing demand for butyl rubber in APAC, increasing demand for synthetic rubber, and developments in end-user industries driving demand for butyl rubber. However, recovering nature rubber market, fluctuating raw material prices, stringent regulations may hamper the growth of the butyl rubber industry over the forecast period.

Global Butyl Rubber Market: Overview
Increasing demand for synthetic rubber
Synthetic rubber is generally considered as a substitute for natural rubber because of properties such as superior resistance to heat, resistance to abrasion, and slow aging effect. Owing to these characteristics, synthetic rubber finds high adoption in numerous end-user industries, such as packaging and healthcare. Moreover, the fluctuation in the prices of natural rubber is compelling consumers to increase the use of synthetic rubber. With the rise in the manufacture of cars and commercial vehicles, the demand for synthetic rubber is bound to increase which will lead to the expansion of the global butyl rubber market at a CAGR of over 3% during the forecast period.
Increasing demand from medical and healthcare sector
Proteins present in natural rubber can cause allergic reactions, which is leading to the increasing use of butyl rubber in medical and healthcare applications. Butyl rubber is non-allergic, odorless, and does not undergo discoloration. Moreover, it also possesses several certain distinctive properties such as low tensile set properties, high resilience, and high elongation, which makes it highly suitable for use in the manufacture of products for the healthcare industry. This development is expected to have a positive impact on the overall market growth.

Competitive Landscape
With the presence of a few major players, the global butyl rubber market is concentrated. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of few leading butyl rubber manufacturers, that include ARLANXEO, China Petrochemical Corp., Exxon Mobil Corp., Goodyear Rubber Co., JSR Corp., Panjin Heyun Industrial Group Co. Ltd., PJSC Nizhnekamskneftekhim, PJSC SIBUR Holding, Reliance Sibur Elastomers Pvt. Ltd., and Zhejiang Cenway New Materials Co. Ltd.
Also, the butyl rubber market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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