According to the latest report by IMARC Group, titled “Rubber Processing Chemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global rubber processing chemicals market forecast exhibited moderate growth during 2015-2020. Rubber processing chemicals refer to a group of specialty chemicals that assist in enhancing the resistance of rubber to heat, ozone, sunlight, oxidation, and mechanical stresses. Their use also aids in improving the overall process of vulcanization. They provide rubber with improved resilience, exception flex resistance and excellent abrasion resistance. The usage of these chemicals further enhances the tensile strength of the end product while minimizing the damages caused by oxidation and dynamic stress. Consequently, activators, accelerators, vulcanizing agents, antidegradants (antioxidants and antiozonants), and stabilizers are extensively employed in the manufacturing process of tires, seals, hoses, gaskets, linings and coatings, and conveyor belts.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global Rubber Processing Chemicals Market Trends:
The global market is majorly driven by the rapidly expanding automotive sector across the globe. With the improving purchasing power of the masses and the widespread preference for electric vehicles (EVS) among the masses, there has been a considerable increase in the uptake of rubber processing chemicals for the production of tires, blades and belts for automobiles. Moreover, the rising utilization of synthetic rubber products across the construction, electronics, aerospace and medical industries for a vast array of applications is also creating a positive outlook for the market. The market is further driven by the introduction of chemicals that are characterized by ease of handling. Numerous players are also launching toughened natural rubbers and fibers in the market due to the enhanced focus on sustainable development. They are employing oil derived from modified natural rubber and orange peels in the manufacturing process to develop eco-friendly tires. This, in turn, is creating a positive outlook for the market. Some of the other factors contributing to the market growth include the growing demand for rubber-based sealants in the construction industry and the extensive research and development (R&D) conducted by key players. On account of the aforementioned factors, the market is expected to grow at a CAGR of around 5% during 2021-2026.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- BASF SE
- Akzo Nobel N.V.
- Arkema S.A.
- Behn Meyer Holdings AG
- China Petroleum & Chemical Corporation
- Eastman Chemical Company
- Emerald Performance Materials LLC
- Emery Oleochemicals Group
- Lanxess AG
- Merchem Limited
- Solvay Group
- Sumitomo Chemical Company
- Vanderbilt Chemicals LLC
Rubber Processing Chemicals Market Segmentation:
Our report has categorized the market based on region, type, application and end-use.
Market Breakup by Type:
- Flame Retardants
- Processing Aids
Market Breakup by Application:
Market Breakup by End-Use:
- Tire and Related Products
- Automotive Components
- Medical Products
- Footwear Products
- Industrial Rubber Products
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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