According to the latest report by IMARC Group, titled "Rubber Processing Chemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global rubber processing chemicals market reached a value of US$ 4.6 Billion in 2021. Rubber processing chemicals refer to a group of specialty chemicals that assist in enhancing the resistance of rubber to heat, ozone, sunlight, oxidation, and mechanical stresses. Their use also aids in improving the overall process of vulcanization. They provide rubber with improved resilience, exception flex resistance and excellent abrasion resistance. The usage of these chemicals further enhances the tensile strength of the end product while minimizing the damages caused by oxidation and dynamic stress. Consequently, activators, accelerators, vulcanizing agents, antidegradants (antioxidants and antiozonants), and stabilizers are extensively employed in the manufacturing process of tires, seals, hoses, gaskets, linings and coatings, and conveyor belts.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Rubber Processing Chemicals Market Trends:
The global market is majorly driven by the rapidly expanding automotive sector across the globe. With the improving purchasing power of the masses and the widespread preference for electric vehicles (EVS) among the masses, there has been a considerable increase in the uptake of rubber processing chemicals for the production of tires, blades and belts for automobiles. Moreover, the rising utilization of synthetic rubber products across the construction, electronics, aerospace and medical industries for a vast array of applications is also creating a positive outlook for the market. The market is further driven by the introduction of chemicals that are characterized by ease of handling. Numerous players are also launching toughened natural rubbers and fibers in the market due to the enhanced focus on sustainable development. They are employing oil derived from modified natural rubber and orange peels in the manufacturing process to develop eco-friendly tires. This, in turn, is creating a positive outlook for the market. Some of the other factors contributing to the market growth include the growing demand for rubber-based sealants in the construction industry and the extensive research and development (R&D) conducted by key players. On account of the aforementioned factors, the market is expected to grow at a CAGR of 5.6% during 2022-2027.
- On the basis of the type, the market has been divided into antidegradants, accelerators, flame retardants, processing aids, and others.
- Based on the application, the market has been bifurcated into tire and non-tire.
- On the basis of the end-use, the market has been classified into tire and related products, automotive components, medical products, footwear products, industrial rubber products, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru and others), and Middle East and Africa (Turkey, Saudi Arabia, Iran, the United Arab Emirates and others).
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include 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, and Vanderbilt Chemicals LLC.
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