Global butyl rubber market forecast at $4.2 billion by 2025

Pune, India – A research report by Persistence Market Research highlights the overall scenario as well as the forecast for the global butyl rubber market. The report throws further light on the key dynamics that are likely to impact the growth of the global butyl rubber market. According to the report titled, “Butyl Rubber Market: Global Industry Analysis 2012-2016 and Forecast 2017-2025,” the global butyl rubber market is expected to reach a market valuation of over $ 4,200 million by the end of 2025, growing at a CAGR of 4.7 percent during the forecast period. The rise in demand for butyl rubber is due to its growing applications. The butyl rubber market is witnessing a rapid increase in demand from the pharmaceutical industry.

Another driver of the market is an increase in the rate of tire replacements taking place in the automobile industry. With the projected growth of the market, manufacturers are focusing on increasing production capacity of butyl rubber to cater to the ever increasing demand in various applications. Global market companies are also planning their overseas business development and sales in addition to the domestic market.

Based on application, the global butyl rubber market is expected to witness maximum demand from the tires and tubes segment, which is projected to reach a market value of over $ 3,700 million by the end of 2025.

On the basis of rubber type, halobutyl rubber is expected to lead the market with a market share of over $ 3,500 million by the end of 2025, growing at a robust CAGR of 5.0 percent during the forecast period. Among the different types of halobutyl rubbers, bromobutyl contributes the most in the growth of the halobutyl rubber market.

In terms of regions, APAC leads the global market with a high margin. The APAC butyl rubber market is expected to reach a valuation of over $ 2,400 million by the end of 2025, with a growth rate of 5.3 percent during the forecast period.