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Butyl rubber is a type of synthetic rubber used mostly in tires and tubes, as it consists of unique properties such as excellent resistance to heat, chemicals
NEW YORK CITY, NY, UNITED STATES, April 27, 2022 /EINPresswire.com/ — The latest market analysis report by Reports and Data is titled ‘Global Butyl Rubber Market – Forecast to 2028. The report offers a comprehensive view of the Butyl Rubber market, elaborating on the industry’s key segments. In this report, Reports and Data’s team of market researchers have provided details on the key market dynamics, including market revenue growth drivers, restraints, trends, opportunities, supply & demand ratios, shifting consumer tastes & preferences, and changing production & consumption patterns, and technological breakthroughs. The market research report sheds light on the key challenges and barriers to industry revenue growth, such as stringent government regulations and policies and potential market threats and risks. Key regional markets encompassed in the report are North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Moreover, the current market positions of the top industry players have been assessed in this report using advanced analytical methods such as SWOT analysis, Porter’s Five Forces analysis, and PESTLE analysis.
Major Factors Contributing to the Global Materials and Chemicals Market Revenue Growth
According to a recent market analysis report by Reports and Data, the global materials & chemicals market is expected to surpass a market size of USD 6,859.8 Million in 2028, registering a robust 7.4% CAGR during the forecast period. The global materials & chemicals market revenue growth is primarily attributed to factors such as fast-paced industrialization across the globe, rising demand for essential consumer goods (including packaged foods & beverages, personal care & cosmetic products, and household hygiene products), and increasing applications of raw materials and chemicals in a wide range of industries including the buildings & construction, food & beverage, pharmaceutical, agriculture, and textile industries. Other important factors contributing to the global market revenue growth are increasing industrial applications of specialty chemicals, growing use of high-performance, organic agrochemicals in the agriculture industry, rising environmental concerns among the population, growing need for environmentally friendly and sustainable raw materials and chemicals, and increasing government investments in the materials & chemicals industry.
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The global chemicals and materials have a wide range of application areas such as crop protection, animal nutrition, dietary supplements, preservatives, flame retardants, surface ingredients, active pharmaceutical ingredients, and matting agents among others. Population explosion along with rapid economic growth is expected to propel market growth. Moreover, the growing urbanization, rapid industrialization, and high investment in infrastructure development create market demand over the forecast period.
Key participants include Lanxess, JSR, Sinopec Beijing Yanshan, Sibur, Panjin Heyun Group, Zhejiang Cenway Synthetic New Material, Formosa Synthetic Rubber, ExxonMobil, PJSC NizhneKamskneftekhim, and Reliance Industries Limited, among others.
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Further key findings from the report suggest
There are new regulations that require manufacturers to reduce the consumption of fuel for both tractors and trailers. Market players are improving fuel efficiency by focusing on developing innovative materials and high-grade butyl rubber, such as halo-butyl rubber. The application of halo-butyl in the tire tread application improves its dynamic properties such as improved wet and dry traction and improved performance in rolling resistance.
The market product is used in the explosives industry for the manufacture of plastic explosives. The increasing demand for the compound as a binding agent in explosives coupled with the rise in demand from the mining industry for explosives is driving its demand in the coming period.
North America is forecasted to hold a market share of 20.3% in the year 2018. The region is switching to environmentally friendly products, and the growth in industrialization and automotive are fueling the demand for the market product.
The increasing demand for butyl rubber for roof repairing and damp proofing is expected to propel the growth of the market. Moreover, the usage of food-grade butyl rubber in food applications is expected to propel the demand in the sector.
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For the purpose of this report, Reports and Data have been segmented into the global Butyl Rubber market on the basis of product, applications, end-users, and region:
Product Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)
Applications Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)
Tires & lubes
Adhesives, sealants, stoppers
Industrial & medical gloves
End Users Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)
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Table of Content
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2027
Chapter 3. Indicative Metrics
Chapter 4. Butyl Rubber Market Segmentation & Impact Analysis
4.1. Butyl Rubber Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
22.214.171.124. Increasing demand from the automotive industry
126.96.36.199. High application in medical devices
4.2.3. Market restraints analysis
188.8.131.52. Availability of raw materials
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
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Regional Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)
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