25 July 2019 - The Global Chlorobutyl
Rubber Market is subject to
witness a substantial growth due to the superior product properties in
comparison with natural rubber. The factors responsible for robust market
growth include soaring demand form automotive and pharmaceutical sector.
Chlorobutyl rubber is an essential element for the production of automobile
tires.
Inner
liner for tires are manufactured with the help of chlorobutyl rubber. In
addition, increasing adoption of original equipment manufacturer (OEM) tires by
automobile manufactures is predicted to fuel the market demand for chlorobutyl
rubber in the upcoming years. Globally, the chlorobutyl rubber market is
predicted to generate massive revenue in the forecast period, providing
numerous opportunities for market players to invest in research and development
of the chlorobutyl rubber.
Massive
growth of automotive sector in BRICS economies such as Brazil, Russia, India,
China and South Africa is considered as major driving factor for the expansion
of chlorobutyl rubber market, in the recent years. Furthermore, high volatility
in prices of natural rubber prices is leading to high-end demand for synthetic
rubber. Superior physical and mechanical properties of synthetic rubber in
comparison with natural rubber is propelling market demand further.
However,
numerous laws & regulations by regional government authorities associated
with excessive use of synthetic rubber is limiting market potential to a
certain extent. In addition, lower sustainability of synthetic rubber compared
to natural rubber and stringent laws against greenhouse gas emission such as
isobutylene are expected to restrain market growth over the forecast period.
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.
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.
Market Segment:
Key Applications
•
Automotive
•
Medical
•
Industrial
Key Regions
•
North America
•
Europe
•
Asia Pacific
•
Middle East and Africa
•
South America
Key Vendors
•
ExxonMobil Chemical
•
ARLANXEO
•
Zhejiang Cenway
•
Panjin Heyun Industrial
•
Sinopec Beijing Yanshan
•
NKNK
•
Sibur
•
request free sample to get a complete list of companies
Comments
Post a Comment