Rubber Processing Chemicals Market Size Worth $7.84 Billion By 2028 | CAGR: 5.3%: Polaris Market Research
NEW YORK, June 9, 2021 /PRNewswire/ -- The global rubber processing chemicals market size is expected to reach USD 7.84 billion by 2028 according to a new study conducted by Polaris Market Research. the market is anticipated to register a CAGR of 5.3% From 2021 – 2028. A substantial rise in automotive sales worldwide is the major driving factor for the growth of the market. In addition to this, the increasing application of rubber in roofing materials, floor covering, sealants, and sound insulation in the construction sector is projected to fuel the product demand during the forecast period. Furthermore, growing industrialization in major developing countries such as India and China will foster the demand for industrial components, which in turn is expected to augment the rubber processing chemicals market growth.
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Key Highlights of Rubber Processing Chemicals Market
- Based on products, anti-degradant emerged as the largest revenue-generating segment and is expected to add a higher revenue share during the forecast period. The segment's growth is attributed to the increasing use of anti-degradants with natural rubber to achieve better outcomes, good finishing, and higher tensile strength.
- In terms of application, tire manufacturing dominated the rubber processing chemicals market and is predicted to grow ahead with the same trend over the forecast period. Increasing modernization of vehicles and the introduction of stringent vehicular safety standards are supporting this segment's growth.
- The Asia Pacific is one of the largest markets for rubber processing chemicals as a result of the rapid development of the automotive and construction sectors. This region is also growing as a major exporter of natural rubber to other regions.
- Huge demand for passenger vehicles, rise in electrification of vehicles, and growing need to enhance vehicle performance are the major trends observed in the industry that will boost the demand for rubber processing chemicals in almost all regions of the world.
Regional Developments
North America dominated the global market for rubber processing chemicals, owing to increasing domestic demand among automotive manufacturers and the presence of developed infrastructural facilities. In the Asia Pacific, the market is garnering tremendous growth on account of increasing production capacity as well as a rise in its application in different industries. Ample availability of raw materials is also a major factor that driving the regional market growth.
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Competitive Outlook
Several multinational companies being the leading manufacturers involved in major R&D programs, regional expansion, and new product launches to gain a dominant position in the market. Prominent players operating in the rubber processing chemicals market are Eastman Chemical Company, Arkema Group, Emery Oleochemicals Group, Merchem Limited, BASF SE, Paul & Company, Kumho Petrochemical Co., Ltd., Sinochem Group Co., Ltd., Lanxess AG, Solvay SA, Behn Meyer Holding AG, Akzo Nobel N.V., China Petroleum & Chemical Corporation, R.T. Vanderbilt Holding Co., Inc., Nouryon, and Emerald Kalama Chemical, LLC.
Target Audience
- Supply Side: Rubber Processing Company
- Demand Side: Automotive Industry, Construction Sector
- Regulatory Side: Pipeline and Hazardous Materials Safety Administration (PHMSA)
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Polaris Market Research has segmented the Rubber Processing Chemicals market report on the basis of product, application, end-use, and region.
Rubber Processing Chemicals Product Outlook (Revenue, USD Million, 2016 – 2028)
- Accelerators
- Anti-Scorch Agents
- Blowing Agents
- Anti-degradants
- Flame Retardants
- Processing Aid
- Polymerization Regulation
- Others
Rubber Processing Chemicals Application Outlook (Revenue, USD Million, 2016 – 2028)
- Tire
- Non-tire
Rubber Processing Chemicals End-User Outlook (Revenue, USD Million, 2016 – 2028)
- Automotive
- Electronics and Semiconductors
- Aerospace and Defense
- Industrial
- Healthcare
- Others
Rubber Processing Chemicals Regional Outlook (Revenue, USD Million, 2016 – 2028)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- RoE
- Asia Pacific
- China
- India
- Japan
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Columbia
- RoLATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Israel
- UAE
- RoMEA
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About Polaris Market Research
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers.
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