Rubber Processing Chemicals Market Growth, Industry Growing Rapidly with Recent Demand, Development, Revenue and Forecast to 2030
The global rubber processing chemicals market growth 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 antidegradants.
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.
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Regional Analysis
Based on region, the Rubber Processing
Chemicals Market Growth 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 growth 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).
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