Bromobutyl Rubber Market Share, Size and Forecast Report, 2022 to 2030

Bromobutyl Rubber Market Overview:

According to Reports and Insights analysis, the global bromobutyl rubber market is estimated to be US$ 1,278.6 Mn in 2022. Furthermore, the bromobutyl rubber market to register a CAGR of 5.1% which is expected to result in market forecast value for 2030 as US$ 1,900.9 Mn.

A synthetic elastomer in the group of halogenated butyl rubbers is bromobutyl rubber. It is produced through the copolymerization of bromine and isobutylene. This copolymer gains excellent physical and chemical qualities from bromine, making it a perfect material for usage in various sectors, including the construction, automotive, and pharmaceutical industries.

This market study on the global bromobutyl rubber market aims to cover market dynamics, including market drivers, challenges, bromobutyl rubber market opportunities for the market players, market segmentation outlook, bromobutyl rubber market trend, regional outlook, bromobutyl rubber market size, and market share, SWOT analysis, Porter's five force analysis, PESTEL analysis, heat map analysis, bromobutyl rubber market forecast and the major players operating in the bromobutyl rubber market globally.

Bromobutyl Rubber Market Dynamics:

Market Drivers:

During the forecast period, the bromobutyl market is anticipated to grow due to the superior and advanced properties of bromobutyl rubber compared to chlorobutyl and regular butyl rubber in terms of physical strength, vibration dumping, ageing, heat resistance, low glass transition temperature, and low permeability.

Increased sales and manufacture of passenger cars are projected to increase the need for bromobutyl rubber shortly. Global production and sales of passenger vehicles have increased as disposable income and purchasing power parity have increased. To maintain stable tyre pressure over an extended period, bromobutyl rubber is typically utilized in the inner liners of tyres on these passenger cars. This is expected to fuel demand for bromobutyl rubber during the projected period.

Bromobutyl rubber can be vulcanized quickly since it produces incredibly little extractable residue. As a result, it is a preferred elastomer for applications in the pharmaceutical and medical fields. Another benefit is that bromobutyl rubber resists moisture. The demand for bromobutyl rubber in the pharmaceutical and healthcare end-user categories is anticipated to increase as a result.

The price instability of natural rubber (NR) and the labour-intensive procedure involved in its production are also driving up demand for bromobutyl rubber.

Market Challenges:

In the upcoming years, fluctuation in raw material costs may hurt the worldwide bromobutyl rubber market. In a two-step method, bromine is reacted with a butyl rubber solution in hexane to create bromobutyl rubber (IIR). Prices for hexane solutions and bromines are extremely unstable since the COVID-19 epidemic has disturbed the supply chain. The demand for these raw resources fluctuates from time to time, which greatly impacts their prices. This is limiting the demand for bromobutyl globally.

Bromobutyl rubber applications are not subject to uniform enforcement guidelines, which is another factor thought to be limiting the market. Facilities that manufacture bromobutyl rubber pollute the air and cause noise. To ensure that safety requirements are followed throughout the production of bromobutyl rubber, governments from many different nations have implemented restrictions. In the foreseeable future, these laws are anticipated to restrict the market.

Bromobutyl Rubber Market Opportunities:

Among other things, Bromobutyl Rubber produces hoses, seals, membranes, tank linings, special-purpose conveyor belts, engine mounts, inner tubes for bicycles, vehicles, and agricultural and industrial tyres, as well as protective gear, medical stoppers, and membranes. Additionally, end-use industries like the automotive, industrial, and medical sectors use BIIR.

The key market for bromobutyl rubber is the automotive industry, which is anticipated to drive market growth. The rise in car sales, particularly in nations like China and India, can be attributed to several factors, including the expanding population and increasing urbanization. To maintain steady tyre pressure over an extended period and extend the life of the tyres while also increasing fuel efficiency, bromobutyl rubber is mostly utilized in the inner liners of passenger vehicle tyres.

Bromobutyl Rubber Market Regional Outlook:

The market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa based on region (MEA). The North America continent is further divided into nations like the United States and Canada. Europe is further divided into the United Kingdom, France, Germany, Italy, Spain, Russia, and the Rest of Europe. China, Japan, South Korea, India, Australia, South East Asia, and the rest of Asia Pacific make up the sub-region of Asia Pacific. The MEA region is further separated into GCC, Turkey, South Africa, and the Rest of the MEA. The Latin America region is further divided into Brazil, Mexico, and the Rest of Latin America.

During the projection period, Asia Pacific is expected to consume a sizable portion of the global market. The use of bromobutyl rubber in automotive tyres and tubes is anticipated to increase as passenger car sales and manufacturing rise in China, South Korea, Japan, and India. The demand for bromobutyl rubber in adhesive and sealant applications is also increasing as a result of the building and construction sector's rapid expansion. The characteristics of bromobutyl rubber are air tightness, weather resistance, heat resistance, and age resistance. The demand for bromobutyl rubber in the construction sector is being driven by these characteristics.

Most likely, the first producer of bromobutyl rubber in India will be the joint venture business between Reliance and Sibur.

Bromobutyl Rubber Market Key Player:

Some of the key participating players in bromobutyl rubber market are:

ExxonMobil

Formosa Synthetic Rubber

Japan Butyl Company

JSR Corporation

Lanxess AG

Panjin Heyun Group

PAO SIBUR Holding

PJSC Nizhnekamskneftekhim

Reliance Industries Limited

Royal Adhesives & Sealants, LLC

Sibur

Sinopec Beijing Yanshan

The Goodyear Tire & Rubber Company

Zhejiang Cenway Synthetic New Material

Bromobutyl Rubber Market Segmentation Outlook:

Bromobutyl rubber market is segmented on the basis of application, type, and end-user

By Application

Adhesives

Gloves

Sealants

Tires and Tubes

Others

By Type

Bromobutyl

Regular Butyl

Others

By End-User

Automotive

Healthcare

Industrial

Pharmaceutical

Transportation

Others

By Region

North America

Asia Pacific

Europe

Latin America

Middle East

Africa