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Rubber Processing Chemicals Market: Segmented By Application (Tire and Non-Tire), By Type (Anti-degradants, Accelerators, Processing Aids, Adhesion Promoters, Blowing Agents, Anti-Scorch Agents, Stabilizers, Polymerization Regulators and Other), And Region - Global Analysis Of Market Size, Share & Trends For 2019-2020 And Forecasts To 2030
Global Rubber Processing Chemicals Market to surpass USD 6.46 billion by 2030 from USD 4.88 billion in 2019 at a CAGR of 4.9% in the coming years, i.e., 2021-30.
Rubber/processing chemicals, in general, are considered as a group to be specialty chemicals. These chemicals can aid in improving the resistance of rubber to heat, oxidation, sunlight, ozone, and mechanical stresses. Furthermore, rubber/processing chemicals also greatly improve the overall process of vulcanization.
Global Rubber Processing Chemicals Market is anticipated to witness lucrative growth opportunities in the near future. This growth is attributed to the mounting the awareness about health effects of molds. Additionally, the rising incidence of natural disasters aided the growth of the global market. Mergers & acquisitions, advancements in technology, and constant research & development activities are some of the few strategies opted by the key market players.
Global Rubber Processing Chemicals Market is bifurcated By Application into Tire and Non-Tire. Among these, Tire segment held the largest market share of 71.366.3% in the year 2020. Increased automotive production and sales across various vehicle segments, as well as increased rivalry among tyre producers, are driving the worldwide automotive tyre market. Furthermore, the automotive tyre market is expected to rise due to the use of improved technologies in the production process. In the coming years, the automobile sector will continue to be the greatest source of tyre demand, accounting for two-thirds of the total.
Based on Type, global Rubber Processing Chemicals Market fragmented into Anti-degradants, Accelerators, Processing Aids, Adhesion Promoters, Blowing Agents, Anti-Scorch Agents, Stabilizers, Polymerization Regulators and Other. Among these, Accelerators segment held the largest market share of 37.215.7% in the year 2020. As per the Fatpos Global Analysis, Accelerators Fire and Smoke Restoration is the most dominant segment ad thus, is expected to rise at a CAGR of 5.2%6.0% during the forecast period.
Increasing automotive industry and automotive production
Increasing sales of vehicles, owing to the rising people per capital income across the world. For instance, as per the International Organization of Motor Vehicle Manufacturers, in 2014, 88.3 million of new vehicles were sold, while in 2019, the number reached to 91.3 million. Increasing demand for transportation is driving the sales of light, medium, and heavy-duty vehicles globally, which in turn is driving the growth of lubricants market.
Rising construction market development
increase by 85 percent to $15.5 trillion by 2030, with three nations — China, the United States, and India – leading the way and accounting for 57 percent of total growth. As development in the world's largest construction industry slows through 2030, China's proportion of the global construction market will only increase modestly. In comparison, building in the United States will increase at a greater rate than in China during the next 15 years, averaging 5% each year. Meanwhile, construction rates in India are expected to rise as the country overtakes Japan to become the world's third largest construction market by 2021 To 2030, India's construction market will develop nearly twice as quickly as China's, creating a new source of global growth in emerging countries. By 2030, India’s urban population is predicted to increase by 165 million, making Delhi the world’s second-biggest metropolis with a population of 10.4 million people.
Environmental Restriction
Rubber tyre manufacturing plants have been designated by the EPA as major sources of hazardous air pollution (HAP) emissions. Section 112(d) of the Clean Air Act (CAA) will be implemented by requiring all such significant sources to satisfy HAP emission criteria that reflect the use of the best available control technology (MACT). Hexane, toluene, formaldehyde, styrene, and methanol are among the HAPs that have been linked to a variety of negative health consequences, including chronic health diseases (e.g., polyneuropathy, degenerative nasal lesions) and acute health disorders (e.g., respiratory irritation, nausea, blurred vision, and headaches).
BASF
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Rubber Processing Chemicals market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Asia Pacific dominates the Rubber Processing Chemicals market. Asia Pacific market is relatively a mature market and is anticipated to witness a steady demand for the Rubber Processing Chemicals during the forecast period. The growth of the region is mainly due to growing economy and rising disposable income coupled with increased consumer spending. As per our estimates, Asia-Pacific’s Rubber Processing Chemicals Market value is estimated at $ 1.87 Billion in 2015 and US$ 1.83 Billion in 2020.
| Report Attribute | Details |
| Market size value in 2019 | USD 4.88 billion |
| Revenue forecast in 2030 | USD 6.46 billion |
| Growth Rate | CAGR of 4.9% from 2021 to 2030 |
| Base year for estimation | 2020 |
| Quantitative units | Revenue in USD million and CAGR from 2021 to 2030 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Type, Application, and Region |
| Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Key companies profiled | BASF, Laxness, Solvay, Arkema, Eastman Chemical Company, Emery Oleochemicals, Henan Xuannuo Imp & Exp Co., Ltd, Vanderbilt Chemicals and Other Prominent Players |
The Rubber Processing Chemicals Market size was estimated at USD 4.88 billion in 2019 and is expected to reach 6.46 billion by 2030.
Key players: BASF, Laxness, Solvay, Arkema, Eastman Chemical Company, Emery Oleochemicals, Henan Xuannuo Imp & Exp Co., Ltd, Vanderbilt Chemicals, and Other Prominent Players
Tire segment and Accelerator segment are anticipated to hold the largest Rubber Processing Chemicals Market.
Drivers: Increasing automotive industry and automotive production and Rising construction market development
Rubber/processing chemicals, in general, are considered as a group to be specialty chemicals. These chemicals can aid in improving the resistance of rubber to heat, oxidation, sunlight, ozone, and mechanical stresses. Furthermore, rubber/processing chemicals also greatly improve the overall process of vulcanization.
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