Rubber Processing Chemicals Market to Witness an Outstanding Growth During 2022-2027
According to the latest report by IMARC Group, titled “Rubber Processing Chemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on rubber processing chemicals market outlook. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global rubber processing chemicals market size reached US$ 4.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 6.4 Billion by 2027, exhibiting a growth rate (CAGR) of 5.6% during 2022-2027.
Rubber processing chemicals are compounds that help in improving the overall performance of the tire and non-tire rubber products. These are categorized into different product segments, such as anti-degradants, flame retardants, accelerators, processing aid/promoters, and others. These major segments of rubber-processing chemicals meet the requirements for properties, such as resilience, abrasion resistance, flex resistance, hardness, and tensile strength for end-use applications. It aids in improving the resistance of rubber to heat, oxidation, sunlight, ozone, and mechanical stresses.
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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 increasing demand from end-use industries, including automotive and construction. In line with this, a significant rise in the number of vehicles is positively influencing the market growth. Furthermore, the growing use of rubber in floor coverings, sound insulation, roofing materials, and sealants in the construction industry is catalyzing the product demand. Apart from this, the rubber processing chemicals industry relies on the extensive deployment of styrene-butadiene, nitrile, and neoprene synthetic rubbers. This reliance is creating numerous opportunities for rubber processing chemicals sales. Moreover, the increasing use of these chemicals in the manufacture of conveyor belts, tires, linings and coatings, gaskets, seals, and hoses, is propelling the market growth. Additionally, the high demand for heat, water, and mechanical resistance rubber is aiding the rubber processing chemicals market.
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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:
- Antidegradants
- Accelerators
- Flame Retardants
- Processing Aids
- Others
Market Breakup by Application:
- Tire
- Non-Tire
Market Breakup by End-Use:
- Tire and Related Products
- Automotive Components
- Medical Products
- Footwear Products
- Industrial Rubber Products
- Others
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 (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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