Chemicals Industry Today

Butyl Rubber Market is likely to witness considerable competition over the forecast period of 2018-2022

Global Butyl Rubber Market Information- by types (Regular Butyl Rubber, Chlorinated Butyl Rubber, Brominated Butyl Rubber), by Application (Adhesives, Sealant for Rubber Roof Repair, Tubeless Tire Liners, Medicine Bottles, Mechanical Goods, and Others), by End User (Automotive Industry, Pharmaceutical Industry, Consumer Products, Rubber Industries, Construction Industries, and Others) and by Region - Forecast to 2022
Published 29 January 2018
Pune, India,  January 29, 2018/MRFR Press Release/- Market Research Future Published a Half Cooked Research “Global Butyl Rubber Market Research Report - Forecast to 2022” - Market Analysis, Scope, Stake, Progress, Trends and Forecast up to 2022.    

Exxon Mobil Corporation (US), Lanxess AG (Germany), Reliance Industries Limited (India), JSR Corporation (Japan), Yanhua Petrochemical Company (China), Cenway Polymer Co., Ltd (China), Panjin Heyun Industrial Group Co., Ltd. (China), and PJSC Nizhnekamskneftekhim (Russia), among others are some of the prominent players operating at the forefront of competition in the Global Butyl Rubber Market and are profiled in MRFR Analysis.

Butyl rubber Market – Market Overview
According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), international organization consisting members form 39 countries, automotive industry has produced overall 94.97 million vehicles expanding at 4.5% annual growth in 2016. Changing Lifestyle, dynamic economic development in emerging countries, increasing purchasing power of middle income strata have led the greater adoption of commercial as well as consumer vehicles over the past five years. In addition to this, rapid industrialization fuelling the demand for commercial vehicles year on year. This is expected to boost the demand for the product from automotive industry, which is the largest consumer of butyl rubber. Asia Pacific held major share of the market in 2016 on account of the presence of leading end users such as automotive and building & construction industries.

As per the industry experts, the upward growth trend for the automotive and construction industry may continue in the coming years on the backdrop of rising urbanization and technological advancements in the field of electric vehicles. This may consolidate the demand for butyl rubber. However, fluctuating raw material prices, regulations for volatile organic compound emissions due to rubber manufacturing, and availability of alternatives are predicted to encounter the market’s growth in the future.

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Butyl rubber Market- Competitive Landscape
The Global Butyl Rubber is a highly mature market, which is majorly driven by flourishing growth in construction and automotive industry, along with the flourishing transportation sector on account of rising global trade.  Exxon Mobil Corporation, Lanxess AG, Reliance Industries Limited, JSR Corporation, Yanhua Petrochemical Company are the major shareholders in this market. Majority of the key market participants are investing in the expansion of their production capacities and launching new products in order to strengthen their market position. After addressing dynamic growth in automotive industry, and construction industry experts have asserts that this market will be having increasing penetration of new players to enjoy the profitability of this market. Taking into consideration all these trends are suggesting that the Global Butyl Rubber Market is likely to witness considerable competition over the forecast period of 2017-2022.

Industry/ Innovation/ Related News:
August 27, 2017- The U.S. based oil and natural gas giant ExxonMobil Chemical Company has acquired one of the world’s largest aromatics facilities on Jurong Island in Singapore owned by Jurong Aromatics Corporation. This is estimated to increase ExxonMobil’s Singapore aromatics production to over 3.5 million tons per year.  With this, the Asia Pacific market for butyl rubber is anticipated to witness considerable growth in near future.

July 13, 2017- ExxonMobil Corporation, the U.S based petroleum company, has announced its plans to set an elastomer plant in Singapore. The new plant will possess the capacity of 230,000 metric tons per annum for the production of butyl rubber. This is expected to further propel growth of the market in Asia Pacific region.

July 22, 2016- The global oil and natural gas company, ExxonMobil announced its plans to expand its specialty elastomer plant in Newport, Wales, in a bid to increase its high-performance elastomers’ capacity globally. This expansion is likely to add an extra 25% to ExxonMobil’s global capacity to manufacture Santoprene thermoplastic vulcanizate (TPV), high-performance elastomers used for automotive, industrial and consumer applications.

January 19, 2017- India based leading conglomerate Reliance Industries Ltd (RIL) and the Russian petrochemical giant Sibur entered into an agreement to set up the first butyl rubber halogenation unit of the region in Gujarat. Under the terms of agreement, the newly formed joint venture called Reliance Sibur Elastomers Pvt. Ltd (RSEPL) in which RIL owns 74.9 per cent and Sibur the remaining 25.1 per cent will be producing 60,000 tons of halogenated butyl rubber every year. This breakthrough will help both firms to garner sizeable revenue on account of growing transportation and building & construction industry in India.

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