Bromobutyl Rubber Market is Expected to Grow at a CAGR of 5.1% During the Forecast Period of 2022 to 2030
Bromobutyl Rubber Market: Introduction
When butyl rubber is halogenated with bromine, a copolymer called bromobutyl rubber (BIIR) is created that has great physical strength, excellent vibration dampening, low permeability, and provides resistance to ageing and weathering from exposure to the environment.
Reports and Insights deliver key insights on the global bromobutyl rubber market. In terms of revenue, the global bromobutyl rubber market is estimated to expand at a CAGR of 5.1% during the forecast period and expected to reach at a value of US$ 1,900.9 Mn by the end of year 2030, owing to numerous factors, regarding which Reports and Insights offer thorough insights and forecasts in its report on the global bromobutyl rubber market.
This report on the global bromobutyl rubber market aims to discuss market dynamics, including market drivers, potential threats and challenges to the market, global bromobutyl rubber market opportunities for the major players, global bromobutyl rubber market trends, market segmentation outlook, regional outlook, global bromobutyl rubber market size, market forecast, market share, as well as the major players operating in the global bromobutyl rubber market.
Bromobutyl Rubber Market Dynamics:
Because bromobutyl rubber has more advanced and superior characteristics than chlorobutyl and regular butyl rubber in terms of physical strength, vibration dumping, ageing, heat resistance, low glass transition temperature, and low permeability, the market for this material is expected to expand during the forecast period.
The need for bromobutyl rubber is expected to rise shortly due to increased passenger car sales and production. As disposable income and purchasing power parity have improved, so have passenger vehicle production and sales worldwide. In the inner liners of the tyres of these passenger cars, bromobutyl rubber is commonly used to maintain consistent tyre pressure over a lengthy period. It is anticipated that this will increase demand for bromobutyl rubber over the forecasted time frame.
Changes in the price of raw materials could impact the global bromobutyl rubber market in the coming years. The cost of various raw materials is frequently impacted by changes in the demand for them. Global demand for bromobutyl is being constrained by this.
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According to estimations, concerns about the environment and a lack of rules that apply to all applications of bromobutyl rubber are limiting factors for the market. Noise and air pollution are produced by bromobutyl rubber production plants. As a result, governments from many different countries have put regulations in place to ensure that the manufacture of bromobutyl rubber complies with safety standards. These laws are predicted to limit the market shortly.
The automotive sector is the main market for bromobutyl rubber, and it is expected to fuel global expansion. The increase in car sales, especially in countries like China and India, can be ascribed to several causes, including the growing urban population. Bromobutyl rubber is primarily used in the inner liners of passenger vehicle tyres to maintain constant tyre pressure over an extended length of time, increase tyre life and increase fuel efficiency.
Bromobutyl Rubber Market Regional Outlook:
Geographically, the global market for bromobutyl rubber included North America, Europe, Latin America, the Middle East, Africa, Asia-Pacific, and the rest of the world.
Asia Pacific is anticipated to absorb a sizeable chunk of the global market throughout the projection period. As passenger car sales and product development in China, South Korea, Japan, and India, it is projected that the use of bromobutyl rubber in automobile tyres and tubes would rise as well.
The rapidly expanding building and construction industry are also driving up demand for bromobutyl rubber in adhesive and sealant applications. The airtightness, weather resistance, heat resistance, and age resistance of bromobutyl rubber are some of its qualities. These traits are what is driving the demand for bromobutyl rubber in the building industry.
Bromobutyl Rubber Market Key Player:
The leading global bromobutyl rubber market companies include Herun Group, Shandong Shenchi Petrochemicals, Lanxess, Sinopec Beijing Yanshan, PJSC Nizhnekamskneftekhim, ExxonMobil, and Shandong Chambroad Petrochemicals amongst others. The joint venture between Reliance and Sibur will most likely be the first manufacturer of bromobutyl rubber in India.
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Bromobutyl Rubber Market: Segmentation Outlook
Data for growth projections and estimates are included in this study for the Application segment (Adhesives, Gloves, Sealants, Tires and Tubes); Type segment (Bromo butyl, Regular Butyl); End-User segment (Automotive, Healthcare, Industrial, Pharmaceutical, Transportation). The bromobutyl rubber market forecast period is 2022 to 2030.
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