By Type (IIR (Butyl Elastomer), ACM (Acrylic Elastomer), EPM (Ethylene-propylene Elastomer), PEBA (Thermoplastic polyether block amides), SBC (Styrene block copolymers , NBR (Nitrile Elastomer), TPU (Thermoplastic Polyurethanes), SBR (Styrene block copolymers), TPV (Thermoplastic Vulcanizates)); By Application ( Automotive, Medical, Consumer Goods) - Global Historical Growth (2012-2016) & Future Outlook (2017-2027) Demand Analysis & Opportunity Evaluation
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Our in-depth analysis has segmented market into the following segments:
Global butyl elastomers market is further classified on the basis of region as follows:
Global butyl elastomers market is anticipated to grow at a CAGR of 16% during the forecast period. Rising demand of the elastomers in manufacturing tyres and tubes, sealants, adhesives and others are the major key factor which is anticipated to garner growth of the butyl elastomers market during the forecast periods. It is also used for making chew gums. Increasing demand of the stoppers for glass bottles, medicine bottles and pharmaceutical is also expected to positively impact the growth of the butyl elastomers market in upcoming year.
In the regional market Asia pacific dominates the overall butyl elastomers and will continue its controls over the forecast period. Global butyl elastomers are anticipated to grow at a significant CAGR during the forecast period. The growing demand of the automobile is the major key factor which driving the growth of the butyl elastomers during the forecast period.
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Geographically Europe is prominent market of butyl elastomers is expected to witness of high growth rate over the forecast period. Further, rising demand of the tubeless tyres in place of tradition tyres is expected to witness of high growth over forecast period. Further North America is expected to grow at constant rate during the forecast period. Research and development activities in butyl elastomers to make more advance product are anticipated to garner growth of the butyl elastomers market. The market is mainly expanding on the back of the growth and expansion of automobile industries.
The growing adaption of the butyl rubber for the new application due to introduction of better quality product by manufacturer is anticipated to bolster the growth of the butyl elastomers market over the forecast period. Moreover, rising utilization of butyl rubber product at the end use application such as tubes & tyres for automotive, vibration control product and many others is also driving the growth globally. Increasing expenditure in butyl elastomers products is expected to positive growth of the butyl elastomers during the forecast period.
Further, manufacturer is highly focusing in increasing the butyl rubber product quality by changing physical and chemical properties of the elastomers. Advancement, research & development activities are expected to garner the growth of the butyl elastomers market across the globe. Moreover, government initiatives and wide policies towards the butyl rubber products is expected to positively impact the growth of the polymer butyl elastomers market during the forecast period. . These market activities are believed to open a gateway of opportunities for the companies entering into the business of butyl elastomers
However, cost, or low thermal stability, inability to bear load and sometimes poor heat and chemical resistance are expected to dampen the growth of the butyl elastomers market during the forecast period.
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