Chlorobutyl Rubber Market Chlorobutyl Rubber Market | Page 2

Use of chlorobutyl rubber offers advantages such as higher impermeability, cure versatility, better cure rate, cure compatibility, superior adhesion, and higher heat resistance. Additionally, early adoption of chlorobutyl rubber provides constant inflation pressure, longer life span, and heat stability for automobile tires. These factors are expected to drive the growth of market in the upcoming years. The chlorobutyl rubber is largely used during production of automobile tires. Get Sample Copy of this Report @ https://www.millioninsights.com/industry-reports/chlorobutyl-rubber-market/request-sample Applications of chlorobutyl rubber in automotive sector involves production of tire inner liners, hoses, seals and membranes. The chlorobutyl rubber is also used for production of pharmaceutical products such as stoppers and rubber articles that offer higher resistance to chemicals and weathering. Other application of chlorobutyl rubber include tank linings, conveyor belts, and protective clothing. The market is broadly categorized into two major segments based on end-user application such as automotive sector and pharmaceutical sector. The automotive sector is considered as one of the faster growing segment in the chlorobutyl rubber market with substantial revenue generation in the last couple of years. Growing popularity of the chlorobutyl rubber from automotive segment is attributed to soaring demand for original equipment manufacturer (OEM) tires from Asia Pacific region. The pharmaceutical sector also witnessed a massive growth in the last few years owing to the chemical and weathering resistance properties of chlorobutyl rubber. Additionally, chlorobutyl rubber is cost effective in comparison with bromobutyl rubber, thus positively affecting market growth. The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in chemical industry, favorable laws & regulations by regional governments, increase in the research & development activities, and existence of well-established manufacturing sector infrastructure in the region. Asia-Pacific region is predicted to hold major market share in the chlorobutyl rubber market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with rapid growth of automotive industry, growing demand for original equipment manufacturer (OEM) tires, strong economic growth, and significant investment by leading industry players considering potential growth opportunities in the region. The key players in the chlorobutyl rubber market are ExxonMobil Chemical Co., ARLANXEO B.V., Cenway Polymer (Shanghai) Co., Ltd., Panjin Heyun Industrial Group Co., Ltd., Sinopec Beijing Yanshan Petrochemical Co., Ltd., PJSC Nizhnekamskneftekhim, and PJSC SIBUR Holding. Browse Related Category Market Reports @ https://www.millioninsights.com/industry/rubber