ID: MRFR/CnM/4857-HCR | February 2021 | Region: Global | 100 pages
As per the research reports by MRFR, the global market for rubber processing chemicals is projected to grow substantially during the assessment era.
Rubber processing chemicals refer to specialty chemicals used to enhance rubber resistance to sunlight, mechanical stress, heat, ozone, and oxidation. These chemicals improve the properties of rubber to offer tensile strength, abrasion resistance, hardness, and good resilience. Popular examples of these chemicals include adhesion promoters, stabilizers, anti-degradants, blowing agents, processing aids, and accelerators. The global market for rubber processing chemicals has witnessed rapid growth in recent times. The market's growth is mainly credited to the rapidly expanding automotive industry globally. They are widely used to make belts & hoses, blades, wipers, and tires.
Furthermore, the growth in automobile production, particularly in emerging economies such as India, Thailand, and China. Moreover, factors such as the growing residential and commercial construction, changing fashion trends, and growing per capita income are likely to boost the market's growth over the assessment timeframe. On the other hand, stringent environmental regulations are anticipated to impede the market's growth in the coming years.
Global Rubber Processing Chemicals Market Share, by Application, 2017 (%)
The market in Asia-Pacific accounted for the largest share of the rubber processing chemicals markets in 2017 as a result of industrialization in developing economies such as India, China, and Thailand. Market growth is largely influenced by increasing automobile production as a result of surging demand and rising per capita incomes. Furthermore, increasing residential and commercial construction as a result of urbanization is expected to drive the growth of the rubber processing chemicals market in Asia-Pacific.
North America is another prominent market for rubber processing chemicals owing to increasing construction spending in the region. Rising residential construction coupled with the prevalence of easy mortgage regimes are driving the growth of the regional market. The consumption of rubber processing chemicals is increasing in aircraft tires with the growing demand for small wide-body passenger airplanes.
The European market is expected to grow on account of the reviving automotive industry with the surge in demand for high energy-efficient and lightweight vehicles. Additionally, market growth is driven by the growing demand for leather footwear coupled with changing fashion trends.
The Latin American market is expected to grow at a significant rate during the review period with the expanding automotive industry in Brazil and Mexico. The market in the Middle East & Africa is likely to grow at a considerable rate in the coming years with rapid industrialization.
The global rubber processing chemicals market has been segmented by type, application, and region.
On the basis of type, the market has been segmented into antidegradants, accelerators, processing aids, adhesion promoters, blowing agents, anti-scorch agents, stabilizers, polymerization regulators, and others. The accelerators segment has been further sub-segmented into primary and secondary accelerators.
Based on application, the market has been segmented into tire and non-tire.
Based on region, the market has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Some of the key players in the global rubber processing chemicals are BASF SE (Germany), Lanxess (Germany), Solvay (Belgium), Arkema (France), Eastman Chemical Company (US), Emery Oleochemicals (Malaysia), Henan Xuannuo Imp & Exp Co., Ltd (China), Vanderbilt Chemicals, LLC (US), Merchem Limited (India), PMC Rubber Chemicals India Private Limited, PMC Group, Inc. (India), Nocil Limited (India), and Behn Meyer (Germany).
|Market Size||2030: Significant value|
|CAGR||2022–2030: Substantial CAGR|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, application, and region|
|Geographies Covered||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Key Vendors||BASF SE (Germany), Lanxess (Germany), Solvay (Belgium), Arkema (France), Eastman Chemical Company (US), Emery Oleochemicals (Malaysia), Henan Xuannuo Imp & Exp Co., Ltd (China), Vanderbilt Chemicals, LLC (US), Merchem Limited (India), PMC Rubber Chemicals India Private Limited, PMC Group, Inc. (India), Nocil Limited (India), and Behn Meyer (Germany).|
|Key Market Opportunities||Rubber processing chemicals enhance the properties of rubber to provide good resilience, hardness, abrasion resistance, and tensile strength.|
|Key Market Drivers||The growing construction industry with rising residential and commercial construction is likely to drive market growth during the forecast period.|
Frequently Asked Questions (FAQ) :
The market growth would be hindered by strict environmental regulations.
The automotive industry, footwear, construction industry, and others are expected to create market demand.
The Asia Pacific rubber processing chemicals market has the charge.
The European market would be driven by the automotive industry.
The types are accelerators, antidegradants, adhesion promoters, processing aids, anti-scorch agents, blowing agents, polymerization regulators, stabilizers, and others.