Rubber processing chemicals are specialty chemicals used in enhancing the properties of rubber and improve its resistance to sunlight, mechanical stress, oxidation, and ozone. Some of the well-known rubber processing chemicals are blowing agents, stabilizers, and antidegradants. The global rubber processing chemicals market report by Market Research Future (MRFR) contains trends, growth drivers, and drawbacks which can be faced by key players for the period between 2022 and 2030 (forecast period).
Market Scope
The global Rubber Processing Chemicals Market is poised to exhibit a stupendous growth rate during the forecast period primarily due to the automotive industry. Rubber processing chemicals are used for the production of hoses, belts, wiper blades, and tires. The large automobile production in China, Thailand, and India is expected to influence market demand heavily.
Consumption of rubber processing chemicals in the construction industry due to its use in the manufacture of roofing materials, sealants, and floor coverings. It can improve aesthetics and offer weather resistance. Development of commercial and residential complexes is likely to bode well for the global rubber processing chemicals market growth in the coming years.
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The changing fashion trends has called for innovation in comfort, quality, and experience. The footwear industry has relied heavily on rubber processing chemicals for its continuing success. However, strict environmental regulations can dampen the market growth.
Segmentation
The global rubber processing chemicals market has been segmented by type and application.
By type, the market has been segmented into polymerization regulators, stabilizers, antidegradants, accelerators, processing aids, blowing agents, adhesion promoters, anti-scorch agents, and others. The accelerators segment has been further sub-segmented into primary and secondary accelerators. The antidegradants segment accounted for the largest market share in 2017 and bound to dominate during the forecast period. The continuous demand for tires is likely to drive the segment growth. While the accelerators have latent potential for growth in the coming years. Primary accelerators are used for good processing rate and crosslink density, while secondary accelerators can increase the speed of vulcanization.
Based on application, the market has been segmented into tire and non-tire. The tire segment accounted for the larger market share in 2017. This can be credited to the growing demand for tires in the automotive industry. The non-tire segment comprises footwear, floor covering, roofing material, industrial rubber products, hoses and belts, and others.
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Regional Analysis
North America, Asia Pacific (APAC), Europe, Latin America, and the Middle East Africa (MEA) are regions the center of interest in the global rubber processing chemicals market.
APAC accounted for the largest share in the global rubber processing chemicals market in 2017 due to rapid industrialization in India and China. The market is heavily reliant on the burgeoning automotive industry and construction industry. Large disposable income levels of customers for procuring automobiles and apartment complexes can drive the regional market growth.
North America is expected to be lucrative for the global rubber processing chemicals market due to large level of construction spending. The notable rise in construction activities and use in aircraft tires can beckon heavy market demand in the coming years.
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Competitive Outlook
Henan Xuannuo Imp Exp Co., Ltd, PMC Rubber Chemicals India Private Limited, Behn Meyer, Merchem Limited, Arkema, Solvay, Vanderbilt Chemicals, LLC, Lanxess, Emery Oleochemicals, Nocil Limited, BASF SE, Eastman Chemical Company, and PMC Group, Inc. are prominent players of the global rubber processing chemicals market.
Industry News
Yokohoma Tires has introduced has 2 new tires for medium trucks in the 19.5-inch range.
Skechers and the Goodyear Rubber Tire Co. are collaborating for bringing the technology of the latter in its footwear collection. This can lead to good shoes which have higher durability and stability through various climes.
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