Table of Contents
Butyl Rubber is a commercial rubber used in production of wide range of products such as tires, adhesives, sealants, tubes, and so on. This product is a co-polymer of Isobutylene and Isoprene with high electrical resistivity and greater resistance which is predominantly in used in manufacturing of tires and tubes.
The growing transportation industry has facilitated the hike in the market growth over the years. The increasing demand for superior materials for adhesives, sealants, stoppers and similar others will drive the market in pharmaceutical and adhesives applications in future. Furthermore, the evolving environmental regulations are expected to spur innovations aiming to bring out eco-friendly products.
The market is dominated by few players which constitute more than 50% of the share in 2014. ExxonMobil and Lanxess AG are the top two players in the market, which are continuously making efforts to widen their share in the market. ExxonMobil has announced its plans in 2014 to construct a large production plant, whereas Lanxess AG has invested in China on construction of a production plant in 2013. Thus, this market holds strong barriers of entry with huge capital investment required for an entrant to penetrate.
Tires and Tubes were the largest application of butyl rubber in 2014. This segment constitutes 80% and is estimated to exhibit striking growth owing to the progression in automotive industry. The Adhesives and Pharmaceutical applications are forecast to showcase the highest growth in the wake of increasing demand of high elastic and high resistive products in those applications. The butyl rubbers at very high temperatures are not stable and pose risk. Innovations focused on this drawback will further propel the market.
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