Butyl Adhesives Market Size, Share, Growth, and Industry Analysis, By Type (Butyl Adhesive Tape, Butyl Adhesive Paste, and Others), By Application (Paper & Packaging, Building & Construction, Woodworking, Automotive and Others), Regional Insights, and Forecast To 2031

Updated On: 20 November 2023

BUTYL ADHESIVES MARKET REPORT OVERVIEW

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The global butyl adhesives market size was USD 870.8 million in 2022 and is projected to touch USD 1397.94 million by 2031, exhibiting a CAGR of 5.4% during the forecast period. 

Butyl adhesives are an example of synthetic rubber, which is a copolymer of 98% isobutylene and 2% isoprene. It can be manufactured from the monomer isobutylene by cationic addition polymerization. There are mainly two types of products popular in the market, which are butyl adhesive tape and paste. Since it is non-poisonous and free from volatile organic content, it may find applications as a replacement for solvent-based adhesive systems. It shows less sensitivity towards temperature and maintains its stickiness at frigid temperatures. This property can be used in extreme weather conditions such as heavy rainfall, direct sunlight, cold winter, and UV, which is commendable.  

The demand for the product is increasing mainly in the paper and packaging industries, where the products are cartons, paper bags, tapes, and boxes. Apart from this, it is assured of a secure seal between metal panels in metal roofing applications. Butyl adhesives market demand is showing an upward curve owing to its eco-friendly nature. Since the product is suitable for many surfaces, its demand in the automotive, building and construction, and woodworking industries is escalating. The popularity of the product is yet to reach its peak among the common people, and the company is expecting a huge demand for the product from them by reason of its unique characteristics.

COVID-19 Impact: Discontinuation of production to diminish the market growth

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

The crisis of the COVID-19 pandemic has hit the global market very harshly. It had a negative impact on both the producers and the customers. With the sudden pandemic, all industry work is halted, and it is out of control. Stopped production affected the butyl adhesives market and the corresponding industries were also affected. The market is also correlative as butyl adhesives are primarily purchased and used by other industries, fell due to the lockdown of the particular industry. The industry is expecting a growth chart in the market value of butyl adhesives.

LATEST TRENDS

"Increasing use of the product to expand the market"

The butyl adhesives market growth is expecting a high turn due to the nature of the human mind that goes behind the convenience. It is ideal to be used in underground pipes and joints and ventilation system sealing due to its high insulation and waterproof properties. Sealing or repairing a gutter or sliding door is not waiting until a handyman comes to the house anymore. The products are grasping their popularity among ordinary people, mostly and interestingly, through social media and other media, which is affecting the market to reach a higher point.

BUTYL ADHESIVES MARKET SEGMENTATION

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• By Type

Based on type; the market is divided into butyl adhesive tape and butyl adhesive paste

Butyl adhesive tapes are the leading part of the type segment.

• By Application

Based on application; the market is divided into Paper & Packaging, Building & Construction, Woodworking, Automotive and Others

Paper & Packaging is the leading part of the application segment.

DRIVING FACTORS

"Lifting Demand in the Construction Industry to Elevate the Market Growth"

Even though this product is not generally considered for construction tape applications due to its high viscosity and cold flow tendencies, butyl tape becomes an ideal tape solution with these same properties when working with the right supplier. The advancement in technology has made it a better choice in the construction industry. And harmless experiments in this field are not ending and showing more ideas to use butyl adhesives.

"Convenience in product usage  to accelerate the market growth"

The butyl adhesives are highly convenient to use. The same characteristic is the reason it is used in most industries. Companies are always running behind on ideas to ease their work with a flawless and effective result. When technology comes up with a lot of possibilities in terms of tape and paste, it attracts more industries to be a part of. Extreme durability, even in extreme weather conditions, makes it a highly demanding product.

RESTRAINING FACTORS

"Fluctuation in the Raw Material Price Tends to Halt the Demand"

The butyl adhesives market is dependent upon crude oil. Therefore, the variations in the price of crude oil are affecting the production. Due to the Russia-Ukraine war, the crude oil price is unable to be predicted accurately for the longest period. As a result, an increase in raw material prices could explain the downward trend in production and market growth.

BUTYL ADHESIVES MARKET REGIONAL INSIGHTS

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"North America to Lead Market Owing to Urbanization "

North America holds the majority of the butyl adhesives market share on a global perspective. The demand for the product is showing a surge in this region due to urbanization, which will lead to the region's contributing a decent amount of growth in the upcoming years. Cheap labour costs, easy access to raw materials, and expanding development methods to meet market demand are significant drivers of regional market expansion.

KEY INDUSTRY PLAYERS

"Key Participants to Uplift Market Growth"

This report provides information based on the study conducted on proper research, technological development, expanding production lines, mergers, and partnerships. All other aspects, such as the region they are operating in, companies that introduce new products, adopt new technology, and generate the most revenue. As part of the research, this report delivers information about the key players in the market.

List of Market Players Profiled

• Henkel (Germany)
• H. B. Fuller (U.S.)
• Bostik (France)
• HS Butyl Ltd (U.K.)
• 3M (U.S.)
• DeVan Sealants (U.S.)
• General Sealants (U.S.)
• GSSI Sealants (U.S.)
• RENOLIT(Germany)
• K-FLEX (Italy)
• Sika (Switzerland)
• Nitto (Japan)
• IGM (Canada)
• Guibao Science and Technology (China)
• Credit (HeNan)Sealing Material (China)
• Zhongyuan Silande High Technology (China)

REPORT COVERAGE

The report examines the elements from both a demand and supply perspective and estimates the market growth for the period of forecast. Drivers, restraints, opportunities, and future trends are provided in this report. And this report covers the regional market values of the product also. This study is subject to alteration if the market players and probable analysis of forces that will impact the price and behavior of both producers and consumers change.