The growing demand for butyl rubber for damp proofing and roof repairing is expected to fuel the growth of this market in the coming years. In addition, the use of food grade butyl rubber in food applications is expected to propel demand.
Butyl rubber is used in the explosives industry for the manufacture of plastic explosives. The increasing demand for butyl rubber as a binding agent in explosives along with the rising demand for explosives from the mining industry will propel its demand over the forecast period. Furthermore, butyl rubber can be added to diesel fuel to withstand fouling of fuel injectors. Last but not the least, increasing environmental considerations for regulating hydrocarbon and particulate matter emissions is expected to fuel market growth.
However, factors such as fluctuating raw material prices, regulations for volatile organic compound( VOC) emissions due to rubber manufacturing, and availability of substitutes are expected to challenge the market’ s growth in the future.
Global Butyl Rubber Market: Regional Outlook
The butyl rubber market is broadly divided into: North America, Europe, Asia Pacific, and Rest of the World. Amongst these, Asia Pacific is the largest market for butyl rubber due to the expansion of the tire and tubes industry at an unprecedented pace. China and India display the highest consumption of butyl rubber in Asia Pacific. Some other important consumers of butyl rubber in the region include Malaysia, Vietnam, Hong Kong, Macau, Indonesia, Australia, and Republic of Korea.
North America and Europe will display moderate growth as the butyl rubber is significantly used for several applications.
Browse Market Research Report with ToC & Analysis: http:// www. transparencymarketresearch. com / butyl-rubber-market. html
Global Butyl Rubber Market: Competitive Landscape
Some of the key players in the global butyl rubber market include ExxonMobil Chemical, Japan Butyl Company, Nizhnekamskneftekhim JSC, Timco Rubber, Togliattikauchuk Ltd, Lanxess AG, Yanhua Petrochemical Company, Kiran