Increasing use of rubber processing chemicals in tires is likely to augment market growth

Market Research Future (MRFR) expects the rubber processing chemicals market to attain a decent CAGR of 4.9% between 2021 and 2030 (analysis period).Market Segmentation

The global rubber processing chemicals market has been segmented by type, application, and region.

On the basis of type, the market has been segmented into antidegradants, accelerators, processing aids, adhesion promoters, blowing agents, anti-scorch agents, stabilizers, polymerization regulators, and others. The antidegradants segment accounted for the largest share of the rubber processing chemicals market in 2017 and is expected to grow at a considerable rate during the review period. Antidegradants improve the resistance of rubber to oxidation, ozone, heat, and sunlight. The growing demand for tires and other industrial products is likely to fuel the demand for anti degradants.

Accelerators are increasingly being used in rubber processing to increase the speed of vulcanization. The accelerators segment has been further sub-segmented into primary and secondary accelerators. Primary accelerators are used for their superior properties such as good processing safety and vulcanization rate and optimum crosslink density. Secondary accelerators are used to increase the speed of vulcanization.

Based on application, the market has been segmented into tire and non-tire. The tire application segment accounted for the larger market share in 2017 owing to the growing demand in the automotive industry. The demand for tires is rising with the increasing production of automobiles. The non-tire application segment includes industrial rubber products, hoses and belts, roofing material, floor covering, footwear, and others. 

Regional Analysis

Based on region, the rubber processing chemicals market has been segregated into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The market in Asia-Pacific was the largest in 2017 due to the presence of a large number of industries in developing nations such as India and China. Expanding population is an important factor leading to the rise in residential construction, which is also driving the growth of the rubber processing chemicals market.

North America is a prominent market for rubber processing chemicals owing to surging demand in the transportation sector, especially the automotive and aviation industries. The European market for rubber processing chemicals is expected to grow as a result of rising demand in major end-use industries such as automotive, construction, and footwear. Surging demand for automobiles with high energy efficiency is expected to positively impact market growth. The markets in Latin America and the Middle East & Africa are expected to exhibit considerable growth during the review period due to expanding end-use industries in the regions.

Competitive Analysis

Some of the key players in the global rubber processing chemicals are Lanxess (Germany), Solvay (Belgium), Eastman Chemical Company (US), Henan Xuannuo Imp & Exp Co., Ltd (China), BASF SE (Germany), Vanderbilt Chemicals, LLC (US), Merchem Limited (India), Arkema (France), PMC Rubber Chemicals India Private Limited, PMC Group, Inc. (India), Emery Oleochemicals (Malaysia),  Nocil Limited (India), and Behn Meyer (Germany).

Get Full Access To the Report: rubber processing chemicals market share