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 .
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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