According to the latest report by IMARC Group, titled "Rubber Additives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global rubber additives market reached a value of US$ 5.16 Billion in 2021. Rubber additives refer to substances that are generally added to synthetic and natural rubber in order to obtain the required properties. They are rubber polymers that are produced by a combination of various chemicals for enhancing their overall performance. They are mainly adopted to improve the physical property of the finished product and provide excellent heat-resistance properties to tires for withstanding extreme temperature fluctuations due to high speed. Due to their excellent cross-linkage and viscosity capabilities, there has been a considerable rise in the adoption of rubber additives in a wide array of industrial manufacturing processes.
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Global Rubber Additives Market Trends:
The global market is primarily driven by significant growth in the rubber industry. Along with this, the increasing product demand in the manufacturing of rubber and its allied products is creating a positive market outlook. Moreover, the rising adoption of rubber in the production of long-lasting and durable tires that are widely utilized across the automotive and defense industries is providing a boost to the demand for rubber additives. In line with this, the widespread adoption of rubber in the manufacturing of gaskets and covers for electrical wires is significantly supporting the product uptake on the global level. Apart from this, the growing utilization of rubber products in conveyor belts and cable production requires different kinds of rubber additives in order to enhance their properties, which is impacting the market growth favorably. Other factors, including rapid industrialization, continuous product innovations and extensive research and development (R&D) activities conducted by key players, are also positively influencing the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 6.70 Billion by 2027, exhibiting a CAGR of 4.30% during 2022-2027.
- Based on the type, the market has been classified into activators, accelerators, vulcanization inhibitors, plasticizers and others.
- On the basis of the rubber type, the market has been bifurcated into natural and synthetic rubber.
- Based on the application, the market has been segregated into tire, conveyor belts, electric cables and others.
- On the basis of the region, the market has been divided into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.?Some of these players include Akrochem Corporation, Arkema S.A., BASF SE, Behn Meyer Holding AG, China Petroleum & Chemical Corporation, China Sunsine Chemical Holdings Ltd., Eastman Chemical Company, Lanxess AG, Nocil Ltd., Solvay S.A., Struktol Company of America LLC (Schill + Seilacher GmbH), Sumitomo Chemical Co. Ltd. and Thomas Swan & Co. Ltd.
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