Rubber Vulcanization Market Overview
As per the analysis conducted by Market Research Future (MRFR), the Global Market for Rubber Vulcanization is anticipated to record a CAGR of 4.94% while acquiring the market value of USD 11,219.7 Million by 2025. The key factors that drive the Rubber Vulcanization Market are majorly the heavy and increased consumption of rubber-based products by the health care and medical sector. The demand for the usage of rubber products over fibre and plastic products has driven the market a long way. The major industries, including the usages of the vulcanized rubber, includes the automotive and the aerospace industries. This greatly boosts the growth of the industries along with the sectors involved in marketing. However, there have been certain market restraints in that diffuse the growth the same. The implementation of rules leading to an increase in the oil and gas industry has been a great competition in the market.
The outbreak of COVID-19 has brought a positive and as well as a negative impact on the rubber vulcanization industry. The extensive usage of rubber in various end-user sectors such as; aerospace, automotive, and consumer goods has been impacted severely. On the other hand, the widespread of rubber in healthcare for gloves, injection parts, tubing, cord, and diaphragm are likely to boost the market during the COVID era. The rapid rise in the COVID-19 patients is projected to drive the demand for rubber in the healthcare sector, thereby, augmenting the rubber vulcanization market size. In addition, the resuming airline operations are expected to favor the market growth during the pandemic. The market is anticipated to gain momentum post COVID era owing to the expected contribution of the chemical industry.
Growing Demand of Rubber from the Manufacturing Sector to Boost the Market Growth
The global market for rubber vulcanization is expected to show significant growth during the forecast period owing to the increased manufacturing of tires and the rising application of the product for its superior structural and mechanical properties. The rapid rise of the automotive and transportation sector is anticipated to be another salient cause that can steer the market during the review tenure. In addition, its application in power transmission belt, shock absorber seals, gasket material, and others are likely to strengthen the market during the review timeframe.
Innovation of New Tires to Provide Significant Opportunity for Market Expansion
The development of innovative tires to offer high-performance rubbers that enhance the durability of the product is expected to offer a significant opportunity for market expansion during the review period. In addition, the growth of oil and gas sector is anticipated to showcase expansion opportunities for the market during the review timeframe.
Imposition of Stringent Rules and Regulations to Hinder the Market Growth
The imposition of stringent rules and regulations against rubber vulcanization owing to the hazardous impacts associated with it are likely to hinder the market growth during the forecast period.
Fluctuation in the Prices to Hamper the Market Growth
The fluctuating prices of the raw material are expected to hamper the market growth during the review period.
Cumulative Market Growth Analysis
As per the analysis by MRFR, the global market for rubber vulcanization is expected to show a decent growth during the review timeframe. The growth can be attributed to the growing demand of rubber for manufacturing tires, and its extensive application in automotive and transportation sector.
The segmental analysis of the global market for rubber vulcanization is done by application, type, and technique.
The application-based segments of the global market for rubber vulcanization are industrial, automotive & transportation, consumer goods, healthcare, and others. The automotive & transportation segment is anticipated to lead the market during the forecast period. The high production and sale of automobiles and commercial vehicles is expected to play a significant role in strengthening the segment in the coming period.
The type-based segments of the global market for rubber vulcanization are vulcanizing agent, accelerators, activators, and others. The vulcanizing agent segment is sub-segmented into tellurium, metallic oxides, sulfur, selenium, and others. The accelerators segment is sub-segmented into dithiophosphate, dithiocarbamate, xanthates, sulfenamides, and others.
The technique-based segments of the global market for rubber vulcanization are sulfur vulcanization and other curing techniques.
As per the rubber vulcanization market analysis by MRFR, the global market for rubber vulcanization is segmented into North America, Asia-Pacific, Europe, and the Rest of the World (RoW).
APAC to Offer Lucrative Opportunities and Dominate the Global Market During the Forecast Period
APAC is anticipated to dominate the global market during the forecast period owing to the increasing demand for automotive vehicles in the growth-centric countries such as; India, China, and Japan. Besides, Malaysia, India, Thailand, and Indonesia are the world’s top producers of rubbers, which is anticipated to be a significant factor that can strengthen the regional market during the forecast period. In addition, the growing demand for rubber vulcanizing accelerators is projected to be another salient cause likely to develop the regional market in the assessment period.
Europe to Witness Significant Market Growth during the Review Period
Europe is projected to witness a significant market growth during the forecast period owing to the rapid expansion of the automobile sector. Besides, the growing application of rubber in the healthcare sector is anticipated to offer significant market expansion opportunities. In addition, the rising demand for rubber in industrial goods and application is projected to boost the regional market growth during the assessment period.
North America to Grow Owing to the Rapid Expansion of the Aerospace Industry during the Review Period
North America is anticipated to show a significant rise during the forecast period owing to the notable development of the aerospace industry. The significant contribution of the automobile sector and oil and gas industry are projected to develop the industry during the review tenure. Among all, the US is anticipated to make the most significant contribution in strengthening the regional market.
Rest of the World (RoW) to Grow at a Steady Pace during the Forecast Period
RoW is projected to witness a steady rise during the forecast period owing to the growing demand for rubber in automotive sector. However, the region is likely to witness a slower growth than the other regions owing to the sluggish development of the region.
The report offers key statistics on the global market for rubber vulcanization. Various strategies adopted by key players have been discussed to understand the prevailing competition in the market during the forecast period.
In March 2018,
The Kumho Petrochemical Company back in the day had announced the latest collaborations with the Chinese firms' Sh and ong Chemical Company in order to increase their market production by financing the same to the most. This ensured a smooth marketing of the entire department, making sure of the production and retailing of the consumer good in a satisfactory manner.
The research partners of Laxness also had merged with small firms in the Asia Pacific countries to ensure the proper supply of the raw materials and professional assistance.
Key Players Listed in the Report
The report is a thorough study of the global market for rubber vulcanization. A sectional classification of the market has been performed to give an appropriate depiction of the market landscape. To understand the global market for rubber vulcanization, the data experts have analyzed the market outlook along with the recent prevailing trends in the lucrative regions. Further, the report also highlights the price margins of the product, along with the risks faced by the industrialists in the market. In addition, it also provides a comprehensive understanding of various factors affecting the market.
Global Rubber Vulcanization Market, By Application
Global Rubber Vulcanization Market, By Type
Global Rubber Vulcanization Market, By Technique
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, Accelerators, Technique, End-Use Industry and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||LANXESS (Germany),BASF SE (Germany),Arkema SA (France),Eastman Chemical Company (US),Kumho Petrochemical (South Korea), Sumitomo Chemical Co., Ltd. (Japan),Duslo, a.s. (Slovakia),Shandong Stair Chemical & Technology Co., Ltd (China),Willing New Materials Technology Co., Ltd (China),King Industries, Inc (US)|
|Key Market Opportunities||Innovation of New Tires to Provide Significant Opportunity for Market Expansion|
|Key Market Drivers||Growing Demand of Rubber from the Manufacturing Sector to Boost the Market Growth|