Global Rubber Processing Chemicals Market Analysis and Forecast Report 2030

Description

Global Rubber Processing Chemicals Market Analysis and Forecast Report 2030

Product Overview
Rubber processing chemicals are specialty chemicals that are used for enhancing the physical properties of natural and synthetic rubber products. It is done to make it fit for the tire as well as non-tire applications. Rubber processing chemicals help in improving the resistance of rubber to heat, sunlight, oxidation, ozone, and mechanical stresses. Common chemicals used in the processing of rubber include accelerator, vulcanizing agents, stabilizers, and antidegradant. These chemicals improve several properties of rubber-based products such as hardness, resilience, heat and abrasion resistance, and tensile strength to make them commercially useful. Rubber processing chemicals find application in the manufacturing of linings and coatings, tires, gaskets, seals, conveyor belts, and hoses.

Market Highlights
Global Rubber Processing Chemicals market is expected to project a notable CAGR of 4.32% in 2030.
Global Rubber Processing Chemicals Market to surpass USD 6.28 billion by 2030 from USD 4.11 billion in 2020 at a CAGR of 4.32% in the coming years, i.e., 2021-30. Global Rubber Processing Chemicals market is driven by escalating demand from various end-use industries including automotive and building and construction. Furthermore, the growing adoption of rubber in manufacturing of sealants, insulating agents, roofing materials, and floor coverings is anticipated to induce the market growth over the next few years. Other factors, including the advancement of chemicals with better ease of handling, along with rapid urbanization, are projected to drive the market further.

Recent Highlights in Global Rubber Processing Chemicals Market
In July 2018, Lanxess announced to invest approximately USD 580 million at the company’s largest North America site in El Dorado. The move will aid in strengthening the company’s growth in its specialty chemicals business in North America.

Global Rubber Processing Chemicals Market: Segments
Accelerator segment to grow with the highest CAGR during 2021-30
Global Rubber Processing Chemicals market is segmented by Product Type into antidegradants, accelerator, processing aid, flame retardants, blowing agents, anti-scorch agents, and others. Accelerator, based segment held the largest market share in the year 2020. Accelerators are the chemical agents used to speed up the vulcanization process. In vulcanization, accelerators are widely used in combination with sulfur, zinc oxide, and stearic acid. primary and secondary are the two types of accelerators. Primary accelerators mainly find application in tire manufacturing while secondary accelerators are used to increase the speed and state of cure in the vulcanization.

Tire Segment to grow with the highest CAGR during 2021-30
Global Rubber Processing Chemicals market is distributed by application into Tire and Non- Tire. Tire Segment held the largest market share in the year 2020. Tire rubber consumption includes the rubber utilized in all motor vehicle type tires, bicycle tires, and off-road vehicle tires, as well as retreads and inner tubes. The rising automobile industry is anticipated to augment the growth of the tire segment which in turn, boosts the global rubber processing chemicals market.

Market Dynamics
Drivers
Growing Demand from Automotive Industry
Rubber processing chemicals are extensively used in the automotive industry in tires, blades, wipers, hoses, and belts. The consumption of rubber processing chemicals in the automotive sector is increasing owing to advantages such as molding and elasticity that assist the tires to maintain a grip on roads even in unfavorable conditions. Additionally, mounting demand for different types of vehicles has resulted in increasing demand for rubber processing chemicals. Rising technological innovations in the production of automotive tires are another major factor accelerating the growth of the rubber processing chemicals market.

Increasing Application in Construction Industry
Rubber Processing chemicals are utilized in construction industry in floor coverings, roofing materials, sound insulation, and sealants to provide heat and weather resistance and enhanced aesthetics. The growing construction industry coupled with increasing residential and non-residential construction is likely to boost the market growth during the forecast period.

Restraint
Stringent Regulations
Rubber processing chemicals are hazardous to human health as well as to the environment due to which stringent regulations are imposed by the government regarding the use of rubber processing chemicals. Most of these chemicals are discharged into water bodies which is harmful to aquatic life. All these factors are expected to curb the rubber processing chemicals market size in the coming years.

Global Rubber Processing Chemicals Market: Key Players
Arkema SA

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, and SWOT Analysis.

BASF SE
Crofa International Plc.
Eastman Chemical Company
Kumho Petrochemical Co. Ltd.
Lanxess AG
NOCIL Ltd.
Solvay SA
Sumitomo Chemical
The Chemours Co
Behn Meyer Holdings AG
China Petroleum & Chemical Corporation
Other Prominent Players
Global Rubber Processing Chemicals Market: Regions
Global Rubber Processing Chemicals market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa.

Global Rubber Processing Chemicals market in Asia Pacific held the largest market share in the year 2020. Asia Pacific will continue to dominate the Global Rubber Processing Chemicals Market due to rapid industrialization and increasing population. Market growth in this region is largely influenced by expanding automobile production as a result of flooding demand and rising per capita incomes. Furthermore, increasing residential and commercial construction due to urbanization is projected to drive the growth of the rubber processing chemicals market.

Global Rubber Processing Chemicals market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Rubber Processing Chemicals market report also contains analysis on:
Rubber Processing Chemicals Market Segments:

By Type
Antidegradants
Accelerator
Processing Aid
Flame Retardants
Blowing Agents
Anti-Scorch Agents
Others
By Application
Tire
Non-Tire
Global Rubber Processing Chemicals market Dynamics
Global Rubber Processing Chemicals market size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
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