Pune, India – According to the research report by Facts and Factors, the global rubber processing chemicals market was estimated at 4.6 billion in 2019, and is expected to reach 6.5 billion by 2026. The global rubber processing chemicals market is expected to grow at a compound annual growth rate (CAGR) of 5.2 percent from 2019 to 2026.
Rubber is a material that is capable of regaining its original form after being deformed. Rubber is a tough material and is resistant to chemical attacks and weathering. Rubber can be produced naturally or can be manufactured chemically. Petroleum products are synthesized to synthetic rubber. Natural rubber is obtained from the sap of tropical trees.
Most of the businesses are facing a growing litany of business critical concerns related to the coronavirus outbreak, including supply chain disruptions, a risk of a recession and a potential drop in consumer spending. All these scenarios will play out differently across various regions and industries, making accurate and timely market research more essential than ever.
Rubber processing is gaining demand in the rubber industry due to the high consumption of processed rubber, along with various products derived from rubber. Rubbers are used to manufacture various products such as tires, mats, hoses, floors, gloves and belts, which in the forecast period may further boost the demand for rubber processing chemicals. However, due to the huge amount of pollution caused by rubber processing, stringent regulations are being led by the government for rubber processing. This factor could impede market growth in the years to come. Nevertheless, the introduction of bio-based rubber into the market in the forecast period is likely to offer ample opportunities for the rubber processing chemicals industry.
Major industry market players include Lanxess Corporation; Solvay SA; Emerald Performance Materials; Chemtura Corporation; China Petroleum & Chemical Corporation; Behn Meyer Group; R.T. Vanderbilt Company; Eastman Chemical Company; Akzonobel N.V; and Emery Oleochemicals Llc.
There has been tremendous demand for rubber processing chemicals in the rubber and automotive industries, which are expected to drive the rubber processing chemicals market in the upcoming years. In the near future, high demand for heat, water and mechanical resistance rubber will likely fuel the rubber processing chemicals market.
Some of the main chemicals used in the manufacturing of rubber are processing aids, flame retardants, antidegradants and accelerators. Antidegradants are used mainly in the industrial and automobile sector because they yield high tensile strength and better resistance rubbers. Accelerators are used mainly to increase process speed and to treat the vulcanization cycle. Some of the major applications of chemical processing chemicals are tire and non-tire. The use of rubber tires in the automobile industry considerably contributes to the growth of the rubber processing chemicals industry.
The report further includes an in-depth analysis of industry players’ market shares and provides an overview of leading players’ market position in the rubber processing chemicals sector. Key strategic developments in the rubber processing chemicals market competitive landscape such as acquisitions and mergers, inaugurations of different products and services, partnerships and joint ventures, MoU agreements, VC and funding activities, researh and development activities, and geographic expansion, among other noteworthy activities by key players of the rubber processing chemicals market, are appropriately highlighted in the report.
Rubber processing chemicals enhance rubber properties in terms of heat resistance, water and mechanical stress resistance. Therefore, rubber processing chemicals find applications in various industries such as in rubber and automobile industries which are expected to drive the market growth of rubber processing chemicals in the coming years. Rubber-based products such as tires, mats, hoses, floor, gloves and belts are highly consumed across the globe. This has led to the high growth of the rubber industry, in turn, exhibiting the growth of the rubber processing chemical market in the coming years. Stringent regulations imposed by the governing bodies on harmful emissions released during rubber processing may hinder the rubber processing chemical market growth in the forecast period. Nevertheless, increasing demand for bio-based rubber along with growing demand for rubber processing chemicals from the emerging countries is likely to open a new avenue for the rubber processing chemicals market in the coming years.
The rubber processing chemicals market research report delivers an acute valuation and taxonomy of the rubber processing chemicals industry by practically splitting the market on the basis of different types, applications and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for fiscal year 2020 to fiscal year 2026.
The rubber processing chemicals market is segmented based on type and application. On the basis of type segmentation, the market is classified into flame retardants, antidegradants, processing aids and accelerators. In terms of application segmentation, the market is bifurcated into non-tire and tire.
China, Japan and India are anticipated to be the major players in the rubber processing chemicals industry owing to the growing automobile industry in India and Japan, and the fast growing rubber industry in China. The Asia Pacific dominated the rubber processing chemicals market in 2016 and is expected to continue its dominance in the upcoming years. North America and Europe were regarded as strong markets for the rubber processing chemicals market; however, stringent rules and regulations in North America for the use of rubber processing chemicals may limit the growth of the market. The Middle East and Africa are projected to propel the growth of the market in the forecast period.