Butyl rubber is a synthetic compound formed by isoprene and isobutylene. It is also known as isobutylene isoprene rubber (IIR). Properties such as flexibility, wear resistance, and vibration dampening, and resistance to extreme temperatures make it a preferable choice over conventional rubber. Butyl rubber gained prominence due to the demand for tubeless tires. The increase in solid wastes caused by polymers has led to the suggestion of gamma radiation to be used for recycling IIR-based products.
High Wear Resistance
Major applications of butyl rubber include adhesives, sealants, and stoppers, industrial and medical gloves, tires and lubes, and others. The tires and lubes segment accounted for a large share of the butyl rubber market in 2016. The demand for automobiles and tubeless tires is projected to augur segment growth. Rise in tire replacements can also drive the segment demand. In light of this, Reliance Industries Limited, an Indian conglomerate, entered ubti a partnership with SIBUR in 2017 to establish a butyl rubber halogenations plant to cater to growing demand for tires.
The adhesives, sealants, and stoppers segment demand is anticipated to grow at a CAGR of 5.8% during the forecast period (from 2018 to 2025) due to extensive product usage in the manufacture of flooring adhesives, valve cement, and floor tapes. The use of butyl rubber adhesives as a binding agent in explosives is also expected to augment the segment demand. Butyl-based adhesives are durable and stable in extreme temperatures, amplifying its demand in the process.
Market Scope
The global butyl rubber market is anticipated to reach a market valuation of USD 5.21 billion by 2025, according to a report by Grand View Research, Inc. It is expected to grow at a CAGR of 6.9% over the forecast period due to high demand in the automotive sector. Escalating demand for tires by Original Equipment Manufacturers (OEMs) along with the booming automotive industry in Brazil, India, China, and Russia is projected to fuel the market expansion in coming years. Key market players include Michelin, Lanxess AG, Reliance Industries Limited (RIL), and Sinopec Corporation.
Click here:
Click here:
No comments:
Post a Comment