What is Global Isobutylene Isoprene Rubber (IIR) Market?
The Global Isobutylene Isoprene Rubber (IIR) Market is a vast and dynamic sector that plays a crucial role in the global economy. It is a type of synthetic rubber made from isobutylene and small amounts of isoprene. The unique properties of IIR, such as its excellent resistance to heat, weathering, and certain chemicals, make it a preferred choice for various applications in different industries. The IIR market is a global phenomenon, with its presence felt in every corner of the world. It is a market that is constantly evolving, with new developments and innovations shaping its future. The market's growth is driven by various factors, including the increasing demand for IIR in various end-use industries, technological advancements, and the growing awareness about the benefits of IIR. However, the market also faces certain challenges, such as the fluctuating prices of raw materials and the stringent environmental regulations. Despite these challenges, the global IIR market continues to grow, offering numerous opportunities for both existing players and new entrants.
Regular IIR, Halogenated IIR in the Global Isobutylene Isoprene Rubber (IIR) Market:
The Global Isobutylene Isoprene Rubber (IIR) Market is segmented into Regular IIR and Halogenated IIR. Regular IIR is the traditional form of IIR, which is widely used in various applications due to its excellent properties. On the other hand, Halogenated IIR is a modified form of IIR, which offers enhanced properties, such as improved resistance to heat and chemicals. The demand for Halogenated IIR is increasing rapidly, owing to its superior properties and wide range of applications. The growth of the Halogenated IIR segment is further fueled by the increasing demand from various end-use industries, such as automotive, construction, and healthcare. However, the Regular IIR segment continues to hold a significant share in the global IIR market, owing to its cost-effectiveness and wide availability.
Tires, Medical Stoppers, Protective Clothing, Sporting Equipment, Others in the Global Isobutylene Isoprene Rubber (IIR) Market:
The Global Isobutylene Isoprene Rubber (IIR) Market finds extensive usage in various areas, including Tires, Medical Stoppers, Protective Clothing, Sporting Equipment, among others. In the tire industry, IIR is used in the manufacturing of inner liners, which are the innermost layer of a tire that contains the compressed air. IIR's excellent air retention properties make it an ideal material for this application. In the medical industry, IIR is used in the production of stoppers for vials and infusion bottles, owing to its excellent resistance to sterilization processes. In the field of protective clothing, IIR is used to make gloves, boots, and suits that offer protection against chemicals and biological hazards. In the sports equipment industry, IIR is used in the manufacturing of grips for golf clubs and tennis rackets, due to its excellent shock absorption properties.
Global Isobutylene Isoprene Rubber (IIR) Market Outlook:
The Global Isobutylene Isoprene Rubber (IIR) Market has shown a promising growth trend. As of 2022, the market was valued at US$ 5442 million and is projected to reach a value of US$ 7636.7 million by 2029. This indicates a Compound Annual Growth Rate (CAGR) of 4.9% during the forecast period of 2023-2029. The market is dominated by the top three manufacturers, who collectively hold a share of about 75%. In terms of product types, Halogenated IIR is the largest segment, accounting for about 65% of the market share. This dominance can be attributed to the superior properties of Halogenated IIR, which make it a preferred choice for various applications.
| Report Metric | Details |
| Report Name | Isobutylene Isoprene Rubber (IIR) Market |
| Accounted market size in 2023 | US$ 5731.3 million |
| Forecasted market size in 2029 | US$ 7636.7 million |
| CAGR | 4.9 |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Sales by Region |
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| By Company | ExxonMobil, Lanxess, PJSC NizhneKamskneftekhim, Sibur, JSR, Sinopec Beijing Yanshan, Formosa Synthetic Rubber (Ningbo), Zhejiang Cenway Synthetic New Material, Panjin Heyun Group, Shandong Chambroad Petrochemicals |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
