Bromobutyl Rubber Introduction
- Bromobutyl rubber is produced by reacting bromine with a hexane solution of butyl rubber in a two-step process. In the first step, polymerization of isobutylene and isoprene takes place to produce butyl rubber (IIR). The second step involves bromination to form bromobutyl rubber. The mechanism of polymerization consists of complex cationic reactions.
- Bromobutyl rubber exhibits many of the attributes of butyl molecule. These include physical strength, vibration damping, low glass transition temperature, low permeability, and resistance to aging and weathering from atmospheric exposure. These attributes make bromobutyl rubber an ideal material in tire liner applications.
- In terms of application, the global bromobutyl rubber market can be segmented into tires & tubes, adhesives, sealants, gloves, and others. The tires & tubes segment is expected to expand at a significant pace during the forecast period owing to increase in usage of bromobutyl rubber in the tread of tires. Bromobutyl rubber helps enhances tire grip and the associated wet braking performance without compromising rolling resistance. Bromobutyl rubber is also extensively employed in pharmaceutical closures.
Key Drivers of Bromobutyl Rubber Market
- Superior and advanced properties of bromobutyl rubber vis-à-vis chlorobutyl and regular butyl rubber in terms of physical strength, vibration dumping, aging, heat resistance, low glass transition temperature, and low permeability are expected to augment the bromobutyl market during the forecast period
- Rise in production and sale of passenger vehicles is likely to boost the consumption of bromobutyl rubber in the near future. Increase in disposable income and increase in purchasing power parity have augmented the production and sale of passenger vehicles across the globe. Bromobutyl rubber is primarily used in inner liners of tires of these passenger vehicles to keep tire pressures constant over a long period. This is anticipated to drive the demand for bromobutyl rubber during the forecast period.
- Bromobutyl rubber has the ability to cure rapidly using vulcanization systems by yielding very low extractable residues. Thus, it is an elastomer of choice for pharmaceutical and health care applications. The moisture resistance of bromobutyl rubber is an added advantage. This is projected to boost the demand for bromobutyl rubber in pharmaceutical and health care end-user segments.
- High volatility in prices of natural rubber (NR) and lengthy process associated with its cultivation is also boosting the consumption of bromobutyl rubber
Key Restraints of Bromobutyl Rubber Market
- Fluctuation in raw material prices can hamper the global bromobutyl rubber market in the next few years. Bromobutyl rubber (IIR) is prepared by reacting bromine with a hexane solution of butyl rubber in a two-step process. Hexane solutions and bromines are experiencing very unstable prices, as the supply chain has been disrupted due to the COVID-19 pandemic. These raw materials experience periodic fluctuation in demand and thus their prices are significantly affected. This is restraining the global bromobutyl market.
- Environmental concerns and lack of universal enforcement directives pertaining to applications of bromobutyl rubber are also estimated to restrain the market. Bromobutyl rubber manufacturing facilities create air and noise pollution. Therefore, governments of various countries across the globe have brought into effect regulations to ensure that safety standards are adhered to during the production of bromobutyl rubber. These regulations are projected to hamper the market in the near future.
Impact of COVID-19 on Bromobutyl Rubber Market
- The COVID-19 pandemic is causing widespread concerns and economic hardships for key players operating in the global bromobutyl rubber market. The industry has been adversely affected by the COVID-19 outbreak on numerous fronts. These include low demand and productivity, operational and supply chain disruptions, tightening credit markets, and lack of adequate workforce.
- The bromobutyl rubber market’s supply chain has historically been strongly dependent on China, which has been heavily impacted by the COVID-19 pandemic. In order to tackle this outbreak, major players have instituted a wide range of countermeasures such as assessing links in supply chain and identifying potentially weak ones, real-time situational awareness, immediate implementation of sanitation measures, and reconfiguration of workspaces for safety.
Asia Pacific to Hold Major Share of Global Bromobutyl Rubber Market
- In terms of region, the global bromobutyl rubber market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is projected to hold significant share of the global market in terms of consumption during the forecast period. Growth in automotive production and sales of passenger vehicles in China, South Korea, Japan, and India is expected to augment the consumption of bromobutyl rubber in automotive tires and tubers. Rapid growth in the building & construction industry is also augmenting the demand for bromobutyl rubber in adhesive and sealants applications. Bromobutyl rubber has various properties such as air impermeability, weather resistance, heat resistance, and aging resistance. These properties are driving the demand for bromobutyl rubber in the construction industry.
- The joint venture company of Reliance and Sibur is likely to be the first manufacturer of bromobutyl rubber in India. This manufacturing facility is expected to lower the country’s dependence on import. Demand for bromobutyl rubber is increasing significantly in Malaysia, Indonesia, Vietnam, the Republic of Korea, Hong Kong, Macau, and Australia.
- North America is projected to account for large share of the global bromobutyl rubber market during the forecast period owing to presence of major automotive players and rise in renovation of buildings in the U.S. and Canada
- Growth in the building & construction industry and rise in industrialization in countries in Middle East & Africa such as Saudi Arabia, the UAE, and South Africa are expected to augment the demand for bromobutyl rubber in various applications in these countries
Key Players Operating in Market
The majority of the global supply of bromobutyl rubber is met by ExxonMobil, PJSC Nizhnekamskneftekhim, JSR Corporation, The Goodyear Tire & Rubber Company, Sinopec Beijing Yanshan, and LANXESS. These key players are adopting various organic and inorganic growth strategies to expand their business as well as product portfolio. ExxonMobil is at the forefront of the global bromobutyl rubber market. It is a global leader in butyl technology.
Key Players Operating in Global Bromobutyl Rubber Market
- Lanxess AG
- Reliance Industries Limited
- Japan Butyl Company
- PJSC Nizhnekamskneftekhim
- JSR Corporation
- The Goodyear Tire & Rubber Company
- Sinopec Beijing Yanshan
- Panjin Heyun Group
- Zhejiang Cenway Synthetic New Material
- Formosa Synthetic Rubber
Bromobutyl Rubber Market: Research Scope
Bromobutyl Rubber Market, by Type
- Regular Butyl
Bromobutyl Rubber Market, by Application
- Tires and Tubes
Bromobutyl Rubber Market, by End-user
- Automotive & Transportation
- Healthcare & Pharmaceutical
Global Bromobutyl Rubber Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.