Brominated Butyl Rubber Market Size, Share, Growth, and Industry Analysis by Type (Bromine Mass Content 1.9%, Bromine Mass Content 2.0%, Bromine Mass Content 2.1% And Others) By Application (Tires, Pharmaceutical Stoppers, Vibration-absorptive Materials and Others) Regional Forecast By 2031

Updated On: 08 April 2024

Brominated Butyl Rubber Market Report Overview

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The global brominated butyl rubber market size was USD 2388.1 million in 2022, as per our research, the market is expected to reach USD 4103.68 million in 2031, exhibiting a CAGR of 6.2% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre- pandemic levels once the pandemic is over.

The brominated butyl rubber market is a niche segment of the global rubber industry. Brominated butyl rubber is a synthetic rubber that is produced by the halogenation of butyl rubber. This process results in a rubber with improved properties, such as better resistance to chemicals, heat, and weathering.

The market for brominated butyl rubber is primarily driven by its use in the production of tires. Tires made from brominated butyl rubber have better air retention properties, which helps to increase fuel efficiency and reduce carbon emissions. Other applications of brominated butyl rubber include pharmaceutical and medical products, adhesives, and coatings.

The market for brominated butyl rubber is expected to grow in the coming years due to the increasing demand for fuel-efficient tires and the growing demand for adhesives and coatings in various industries. However, the market is expected to face challenges from the availability of substitutes such as halogenated ethylene propylene diene monomer (EPDM) rubber and natural rubber.

COVID-19 Impact: Volatile Price and Shift to Online Sales to Limit the Market Demands

The global economic slowdown caused by the pandemic has led to reduced demand for brominated butyl rubber. Many industries that use this material, such as automotive and construction, have experienced a decline in demand due to the pandemic. The pandemic has also led to price volatility in the brominated butyl rubber market. The supply chain disruptions and reduced demand have led to fluctuations in prices, making it difficult for manufacturers and suppliers to plan their production and pricing strategies. The pandemic has accelerated the shift towards online sales channels for many industries, including the chemical industry. Many manufacturers and suppliers have had to adapt to this trend and invest in their online presence and e-commerce capabilities.

LATEST TRENDS

"Increased Demand for High-Performance Rubber in Various Industries to Augment the Market Growth"

Brominated butyl rubber is a synthetic rubber that has excellent chemical and ozone resistance, making it suitable for use in various applications such as pharmaceutical stoppers, chemical resistant linings, and heat resistant conveyor belts.

In recent years, the brominated butyl rubber market has experienced growth due to the increasing demand for high-performance rubber in industries such as automotive, construction, and healthcare. However, factors such as the volatility of raw material prices, environmental regulations, and the availability of substitutes could potentially affect the market's growth in the future.

Brominated Butyl Rubber Market Segmentation

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• By Type Analysis

By type, market is segmented into bromine mass content 1.9%, bromine mass content 2.0%, bromine mass content 2.1% and others. The bromine mass content 1.9% type segment will dominate the market in the coming years.

• By Application Analysis

Based on applications, the market is classified into tires, pharmaceutical stoppers, vibration-absorptive materials and others. The tires segment will lead the global share through 2028.

DRIVING FACTORS

"Growth in Construction Industry to Push the Market"

The automotive industry is one of the largest consumers of brominated butyl rubber due to its superior properties such as high heat resistance, low gas permeability, and good ozone resistance. The construction industry is also a major consumer of brominated butyl rubber due to its high durability and resistance to extreme weather conditions. The growing construction industry is expected to drive the demand for brominated butyl rubber in the coming years. Brominated butyl rubber is extensively used in the manufacturing of high-performance tires due to its superior properties such as low air permeability and high thermal stability. With the increasing demand for high-performance tires, the demand for brominated butyl rubber is also expected to rise.

"Increase in Pharmaceutical Sector to Boost the Market Growth"

Brominated butyl rubber is also used in medical and pharmaceutical applications due to its excellent chemical resistance and low permeability to gases and liquids. With the growing demand for medical and pharmaceutical products, the demand for brominated butyl rubber is expected to increase. Several government regulations related to the use of brominated butyl rubber in various applications are expected to drive the market. For instance, the EU has restricted the use of certain types of brominated flame retardants, which has led to an increased demand for brominated butyl rubber as a flame retardant in various applications.

RESTRAINING FACTORS

"Health Concerns and High Production Costs to Slow the Market Growth "

Brominated butyl rubber is a synthetic rubber that contains bromine, a halogen that is harmful to the environment. As a result, there is increasing pressure on industries to find more sustainable and eco-friendly alternatives. Brominated butyl rubber can release bromine gas during manufacturing and processing, which can be harmful to workers and the environment. This may lead to regulatory restrictions on the use of brominated butyl rubber in certain applications.

There are several alternatives to brominated butyl rubber that offer similar properties, such as chlorinated butyl rubber and bromobutyl rubber. This may limit the demand for brominated butyl rubber in certain applications. Brominated butyl rubber is a specialty rubber that requires a complex manufacturing process. This can result in high production costs, which may make it less competitive compared to other types of rubber.

Brominated Butyl Rubber Market Regional Insights

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"Asia Pacific Market to Grow Exponentially with the Forecasted Period"

Brominated Butyl Rubber is used in the production of tires, pharmaceutical stoppers, and other rubber products. The demand for this rubber is driven by the growth of the automotive industry, which heavily relies on tires made from this rubber.

In terms of regional insights, the Asia-Pacific region has been a major market for Brominated Butyl Rubber due to the growing automotive industry in countries such as China, India, and Japan. North America and Europe also have significant demand for this rubber due to the presence of established automotive industries in those regions.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

• ExxonMobil (U.S.)
• Arlanxeo (Netherlands)
• PJSC NizhneKamskneftekhim (Russia)
• JSR (Japan)
• Zhejiang Cenway Synthetic New Material (China)
• Chambroad Petrochemical (China)
• Sinopec Beijing Yanshan (China)

REPORT COVERAGE

The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes a number of other factors that have contributed to recent growth.