Pharmaceuticals industry emerges as a strong competitor for the tires and tubes application, with a projected high growth rate
Butyl rubber is a type of synthetic rubber mostly used in tires and tubes, as it possesses special properties such as permeability to gas, excellent resistance to heat, chemicals & ozone and high low-temperature flexibility. Other than tires and tubes, butyl rubber is also used in sealants, adhesives, protective clothes, pharmaceutical stoppers, closures, vials & tubes, electrical cables, hoses and shoe soles. A new research report suggests that the butyl rubber market is witnessing a surge in demand from various application areas. The application of butyl rubber has increased lately.
Among various areas of application for butyl rubber, tires and tubes is constant in its position as the dominating segment in the global market, projected to grow at a CAGR of 4.8% during the forecast period. However, the pharmaceuticals industry is also experiencing a rise in growth. The report indicates that the pharmaceuticals segment is expected to grow at a CAGR of 3.4% during the forecast period.
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- Lanxess AG
- ExxonMobil Corporation
- PJSC Nizhnekamskneftekhim
- JSR Corporation
- China Petroleum & Chemical Corp (Sinopec Corporation)
- PAO SIBUR Holding
- Reliance Industries Limited
- Formosa Synthetic Rubber Corporation
- Zhejiang Cenway New Synthetic Material Co. Ltd.
- Panjin Heyun Industrial Group Co., Ltd.
- Royal Adhesives & Sealants, LLC
Tires and tubes industry is helped by a rapid increase in the rate of tire replacement
As the economies are developing, people are spending more on automobiles. With the growth in the production of vehicles, the demand for tires is expected to increase in the OEM market. This will have a positive impact on the tire industry as over 60% of the global natural & synthetic rubber produced is consumed during the manufacturing of tires & tubes. Butyl rubber is an indispensable raw material used in the manufacturing of tires and tubes and an increase in the global demand for tires and tubes is expected to increase the demand for butyl rubber during the forecast period. Key players are also focusing on the replacement of tires in keeping with new emission standards. The new rules require manufacturers to reduce fuel consumption of both trailers and tractors. To improve fuel efficiency, key players are focusing on developing innovative materials and high grade butyl rubber, such halo-butyl rubber.
The use of halo-butyl in the tire tread application enhances dynamic properties such as improved performance in rolling resistance and improved wet and dry traction. A high tire replacement rate in North America for passenger cars as well as commercial vehicles is expected to result in an increase in the demand for butyl rubber in the coming years.
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The use of butyl rubber to sterilize pharmaceutical products against contamination is anticipated to bode well for the global butyl rubber market growth
Butyl rubber has emerged as the most suitable product for storing pharmaceutical products. The inherent properties of butyl rubber makes it an obvious choice for stoppers and seals that are used to provide high cleanliness and gas barriers. In the pharmaceuticals industry, halo-butyl rubber is significantly used as a raw material for the production of antibiotics as well as infusion and biomedical stoppers. Increasing spending on pharmaceutical applications, primarily owing to increasing health consciousness and demand for a high level of cleanliness is expected to provide substantial growth opportunities in the global butyl rubber market.
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