Global Rubber Processing Chemicals Market is Estimated to Value Over USD 6.4 Billion by 2029 End

  • 31 Jul 2019
  • Chemicals & Advanced Materials

The Global Rubber Processing Chemicals Market is estimated to value over USD 6.4 billion by 2029 end and is projected to register a CAGR of over 4% during the forecast period 2019 to 2029.

The demand for rubber has highly increased in sound insulation, floor coverings, roofing materials and sealants in construction industry resulting into the augmentation of the global market. The Asia Pacific region is experiencing a rapid industrialization particularly in India and China which shall propel the market growth further.

There are strict rules and regulations imposed upon the use of rubber processing chemicals which could negatively influence the market growth. The chemicals that are used for processing rubber are hazardous not only to humans but to the environment, especially the flora and fauna as most of these chemicals are released in water bodies and this can impede market growth significantly

Insights on Global Rubber Processing Chemicals Market

1. By Region

  • Asia Pacific
  • North America
  • Europe
  • Latin America
  • Rest of the World

The Asia Pacific region accounts for the largest share of the market and it is anticipated to showcase similar growth trends during the forecast period owing to an increasing light and passenger vehicles sales across India and China. These two countries are leading sellers of automobiles in the region and that shall surely propel the market growth.

2. By Product

  • Anti-Degradants
  • Accelerators
  • Flame Retardants
  • Processing Aid

Anti-degradant segment dominates the market owing to its rubber-protective characteristics like dynamic flex fatigue, heat, storage aging and ozone cracking. The Asia Pacific region registered the highest demand for anti-degradants followed by North America.

3. By Application

  • Tire
  • Non-Tire

Growing industrialization in the manufacturing sector is fuelling the market growth for non-tire applications in the Asia Pacific region which is followed by North America.

Competitive Landscape:

  • Tier 1 players- established companies in the market with a major market share  
  • Tier 2 players 
  • Emerging players which are growing rapidly 
  • New Entrants

Key Market Players:

  • BASF SE
  • Crofa International PIC
  • Arkema SA
  • Kumho Petrochemical Co. Ltd.

FutureWise Key Takeaways

  • The stringent regulations on the usage of harmful chemicals for processing rubber could suppress the growth of the market significantly
  • However, the ever-increasing automotive industry will surely require plenty of processed rubber for manufacturing tires which shall augment the market growth

Objectives of the Study:

  • To provide with an exhaustive analysis on the rubber processing chemicals market by region, by product, by application
  • To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
  • To evaluate and forecast micro-markets and the overall market
  • To predict the market size, in key regions (along with countries)— Asia Pacific, North America, Europe, Latin America and rest of the world
  • To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions

 

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