H1 2023: In H1 2022, the leading producers of Halo Butyl Rubber were PJSC Nizhnekamskneftekhim, Arlanxeo (Saudi Amarco), Exxon Mobil, and Zhejiang Cenway New Materials Co., Ltd. Geographically, Asia Pacific was ranking as the top consumer of Halo Butyl Rubber. In the Asia Pacific region, there were mixed sentiments regarding the Halo Butyl Rubber in H1 2023. Halo Butyl Rubber prices in the Asia Pacific region were stable in January, spiked in February 2023, and then decreased in March 2023. As China started to reduce its car inventories, its automobile sector became sluggish. Due to the hectic destocking activities of the automotive sector, which additionally affected the consumption of Halo Butyl Rubber for automobile production. From April 2023, Halo Butyl Rubber prices increased steadily in the Asia-Pacific region in countries like Japan and South Korea as a result of increased demand by downstream sectors. There was a rise in the demand for tyres, which in turn raised the price of Halo Butyl Rubber. The expansion of the pharmaceutical industry in May 2023 also contributed significantly to a rise in the use of halo butyl rubber. Japanese halo butyl rubber prices climbed dramatically in June 2023 due to heavy demand and higher vehicle sales. On the contrary, the Chinese Halo Butyl Rubber market was bearish in April 2023 then improved during May - June 2023.
H1 2022: In H1 2022, the global production capacity of Halo Butyl Rubber had reached around 950 thousand tonnes. The leading producers of Halo Butyl Rubber were Exxon Mobil, PJSC Nizhnekamskneftekhim, Arlanxeo (Saudi Amarco), and Zhejiang Cenway New Materials Co., Ltd. Although Exxon Mobil was leading globally in terms of producing Halo Butyl Rubber. Based on demand, Asia Pacific was ranking as the top consumer in H1 2022 followed by Europe. Asia Pacific experienced a bearish market on average in H1 2022. The fall in prices was caused by a number of factors including decreased demand from the downstream industries. Additionally, traders disclosed the excess of inventory brought on by the market's crippled offtakes, which forced them to modify their offers in order to maintain the average margin during H1 2022. The Halo Butyl Rubber market in China also remained weak in the during H1 2022, initially as a result of the abundance of materials available on the domestic market. Halo Butyl Rubber prices in Europe decreased throughout during January until mid-February assessments, at which point they sharply decreased. On the demand side, the tyre industry's production rates were stabilized during this period. However, during the months of May and June 202, Europe witnessed an increase in halo butyl rubber prices. Due to the Russia-Ukraine conflict and the European Union's attempt to reduce reliance on Russian energy feedstock supplies, raw material costs had steadily increased during these months.
H2 2022: In H2 2022, the global production capacity of Halo Butyl Rubber had slightly increased and reached around 960 thousand tonnes. During the beginning months of H2 2022, the price of halo butyl rubber in the Asia Pacific region remained unstable. It was due to fluctuating dynamics between supply and demand volumes. Halo Butyl Rubber prices rose in July, fell in August, and then rose again in September 2022. The primary causes of the price decline for Halo Butyl Rubber in August 2022 were the increase in industrial production rates and the overabundance of stock in Asia Pacific region. However, Europe witnessed a bearish Halo Butyl Rubber market during H2 2022. Due to weak downstream demand and falling production costs, the market value of halo butyl rubber in the European market declined during H2 2022. Market's underwhelming performance in terms of sales and industrial output during the winter season, the demand for Halo Butyl Rubber from the downstream tyre and automotive sectors had declined during H2 2022. In the North American market, prices for Halo Butyl Rubber were first rising in July 2022 but gradually declined after that. The major cause behind the low prices of Halo Butyl Rubber in North America was the weak downstream demand from the tyre and automobile industries across the region.
The global Halo Butyl Rubber market has swelled to reach demand of approximately 950 thousand tonnes in 2022 with a growth of 5% in comparison to 2022. and is expected to grow at a CAGR of 5.09% during the forecast period until 2032.
Halo Butyl Rubber (HIIR) such as bromobutyl (BIIR) or chlorobutyl (CIIR) rubbers are created by halogenating the isoprene groups of the butyl rubber. Among elastomer mixes with other rubbers, such as Natural Rubber, Butadiene Rubber, and Styrene-Butadiene Rubber, HIIR has higher curing rate and is simple to co-vulcanize. By far, the most widespread use of halobutyl is in tyre innerliners. In addition to tyre uses, butyl, and halobutyl rubbers make suitable materials for pharmaceutical stoppers, construction sealants, hoses, and mechanical items due to their excellent properties like good impermeability, corrosion resistance, ozone resistance, vibration reduction, and high stability.
The Halo Butyl Rubber market is expected to witness major expansion with the increasing demand from the Tyre and Inner Tube industry. The global halo-butyl rubber market will expand over the next five years due to the expanding usage of halo-butyl rubbers in the pharmaceutical industry as stoppers and tubes. Other niche applications of HIIR such as for manufacturing gaskets, sealants, adhesives, and sporting equipment, also contribute to the market expansion. The global Halo Butyl Rubber market is expected to expand significantly and touch nearly 1500 thousand tonnes by 2032.
Based on demand by region, Asia Pacific dominates the global Halo Butyl Rubber market followed by Europe and North America. In 2022, Asia Pacific consumed approximately 55% of the total Halo Butyl Rubber globally produced. Asia Pacific also holds the majority production capacity of Halo Butyl Rubber with China being the key consumer. Furthermore, China is the hub of automobile manufacturing, with several companies having their manufacturing plants. However, Europe is the second largest consumer of Halo Butyl Rubber. With the growing demand for automotives, affecting the demand for tyres is likely to favor the market expansion rate of Halo Butyl Rubber.
Based on the end-user industry, the global Halo Butyl Rubber market is segmented into Tyre and Inner Tube, Pharmaceutical Closures, Construction, Adhesives and Sealants, and Others. Among these, Tyre and Inner Tube industry is dominating the Halo Butyl Rubber market. This industry consumed approximately 80% of the market in 2022 and is anticipated to dominate the market in the forecast period as well. The high value polymer butyl (and its main derivative, halobutyl) is and will remain particularly well adapted for its main application of air retention in tyres. It is a preferred material for this application due to its special properties which help in the processes of mixing, extrusion, molding, and calendaring.
Major players in the production of Global Halo Butyl Rubber are ExxonMobil, PJSC Nizhnekamskneftekhim, Arlanxeo (Saudi Amarco), SINOPEC Beijing Yanshan Company, Chambroad Sinopoly New Material Co., Ltd., Zhejiang Cenway New Materials Co., Ltd, Sabic & ExxonMobil JV, Reliance Sibur Elastomers Private Limited, Japan Butyl Co. Ltd, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Halo Butyl Rubber which covers production, demand and supply of Halo Butyl Rubber market in the globe.
• To analyse and forecast the market size of Halo Butyl Rubber
• To classify and forecast Global Halo Butyl Rubber market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Halo Butyl Rubber market in the globe.
To extract data for Global Halo Butyl Rubber market, primary research surveys were conducted with Halo Butyl Rubber manufacturers, suppliers, distributors, wholesalers, and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Halo Butyl Rubber market over the coming years.
ChemAnalyst calculated Halo Butyl Rubber demand in the globe by analyzing the historical data and demand forecast which was carried out considering the historical extraction and supply and demand of Halo Butyl Rubber across the globe. ChemAnalyst sourced these values from industry experts, and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Halo Butyl Rubber manufacturers and other stakeholders
• Organizations, forums and alliances related to Halo Butyl Rubber distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Halo Butyl Rubber manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Halo Butyl Rubber market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
950 thousand tonnes
Market size Volume by 2032
1500 thousand tonnes
Growth Rate
CAGR of 5.09% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process, Policy and Regulatory Landscape.
Segments covered
By End-Use: (Tyre and Inner Tube, Pharmaceutical Closures, Construction, Adhesives and Sealants, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Member - Board of Directors
Osaka Gas Co. Ltd
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What is the expected demand by volume of the global Halo Butyl Rubber market by 2032?
Ans:
It is expected that the demand by volume of the global Halo Butyl Rubber market will reach approximately 1500 thousand tonnes by 2032.
Q2.
What are the major end-use industries utilizing Halo Butyl Rubber?
Ans:
The majority of the global Halo Butyl Rubber is consumed by the Tyre and Inner Tube, Pharmaceutical Closures, Construction, Adhesives and Sealants end-use industries.
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