New York, June 07, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Rubber Processing Chemicals Market by Type; per app; and Region – Market Size, Share and Trend Analysis 2020-2020 and Forecast to 2030″ – https://www.reportlinker.com/p06191800/?utm_source=GNW
Rubber treatment chemicals help improve the resistance of rubber to heat, sunlight, oxidation, ozone and mechanical stress. Common chemicals used in rubber processing include accelerators, vulcanizing agents, stabilizers and antidegradants. These chemicals improve several properties of rubber products such as hardness, resilience, heat and abrasion resistance, and tensile strength to make them commercially useful. Rubber processing chemicals find application in the manufacture of trim and coatings, tires, gaskets, seals, conveyor belts and hoses.
The global rubber processing chemicals market is expected to project a notable CAGR of 4.32% in 2030.
The Global Rubber Processing Chemicals Market will exceed USD 6.28 Billion by 2030 from USD 4.11 Billion in 2020 at a CAGR of 4.32% in the coming years i.e. 2021-30. The global rubber processing chemicals market is driven by growing demand from various end-use industries including automotive, building and construction. Furthermore, increasing adoption of rubber in the manufacture of sealants, insulating agents, roofing materials, and flooring is expected to drive the market growth over the coming years. Other factors including advancement of chemicals with better ease of handling, as well as rapid urbanization are expected to further boost the market.
Recent Highlights in the Global Rubber Processing Chemicals Market
In July 2018, Lanxess announced an investment of approximately $580 million in the company’s largest North American site in El Dorado. This move will help strengthen the company’s growth in its specialty chemicals business in North America.
Global Rubber Processing Chemicals Market: Segments
Accelerator Segment Expected to Grow with Highest CAGR in 2021-30
The global rubber processing chemicals market is segmented by product type into antidegradants, accelerators, processing aids, flame retardants, blowing agents, anti-scalding agents and others. The accelerator-based segment held the largest market share in 2020. Accelerators are the chemical agents used to accelerate the vulcanization process. In vulcanization, accelerators are widely used in combination with sulfur, zinc oxide and stearic acid. primary and secondary are the two types of accelerators. Primary accelerators mainly find application in tire manufacturing while secondary accelerators are used to increase the speed and cure state of vulcanization.
Tire Segment Expected to Grow with Highest CAGR During 2021-30
The global rubber processing chemicals market is distributed by application in tires and non-tires. The tire segment held the largest market share in 2020. Tire rubber consumption includes rubber used in all motor vehicle type tires, bicycle tires and off-road vehicle tires, as well as retreaded tires and inner tubes. The growth of the automotive industry is expected to augment the growth of the tire segment, which, in turn, drives the global rubber processing chemicals market.
Growing demand from the automotive industry
Rubber processing chemicals are widely used in the automotive industry in tires, blades, wipers, hoses and belts. The consumption of rubber processing chemicals in the automotive sector is increasing due to benefits such as molding and elasticity that help tires maintain grip on the roads even under adverse conditions. Additionally, the growing demand for different types of vehicles has led to an increasing demand for rubber processing chemicals. Another major factor accelerating the growth of the rubber processing chemicals market is increasing technological innovations in the production of automotive tires.
Increasing application in the construction industry
Rubber processing chemicals are used in the construction industry in flooring, roofing materials, sound insulation and sealants to provide heat and weather resistance and aesthetic improved. The growth in the construction industry coupled with the increase in residential and non-residential construction is expected to drive the growth of the market over the forecast period.
Rubber processing chemicals are hazardous to human health as well as the environment due to which strict regulations are imposed by the government regarding the use of rubber processing chemicals. Most of these chemicals are released into water bodies, which are harmful to aquatic life. All these factors are expected to restrain the rubber processing chemicals market size in the coming years.
Global Rubber Processing Chemicals Market: Key Players
Company overview, business strategy, key product offerings, financial performance, key performance indicators, risk analysis, recent development, regional presence and SWOT analysis.
Crofa International Plc.
Eastman Chemical Company
Kumho Petrochemical Co. Ltd.
The Chemours Company
Behn Meyer Holdings AG
China Petroleum and Chemical Company
Other top players
Global Rubber Processing Chemicals Market: Regions
The global rubber processing chemicals market is segmented on the basis of regional analysis into five major regions. These include North America, Latin America, Europe, Asia-Pacific, Middle East and Africa.
The global rubber processing chemicals market in Asia-Pacific held the largest market share in 2020. Asia-Pacific will continue to dominate the global rubber processing chemicals market due to rapid industrialization and of the increase in population. The growth of the market in this region is largely influenced by the expansion of automobile production owing to the flooding of demand and rising per capita income. Additionally, increase in residential and commercial construction due to urbanization is expected to drive the growth of the rubber processing chemicals market.
The global rubber processing chemicals market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, YOY Growth, CAGR – US & Canada
Latin America Market size, share, trends, opportunities, annual growth, CAGR – Mexico, Argentina, Brazil and rest of Latin America
European Market Size, Share, Trends, Opportunities, YOY Growth, CAGR – UK, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
APAC Market Size, Share, Trends, Opportunities, YOY Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
MENA Market Size, Share, Trends, Opportunities, YOY Growth, CAGR – North Africa, Israel, GCC, South Africa & Rest of MENA
The Global Rubber Processing Chemicals Market Report Also Contains Analysis Of:
Rubber Processing Chemicals Market Segmentation:
Global Rubber Processing Chemicals Market Dynamics
Global rubber processing chemicals market size
Offer and demand
Competition and companies involved in the market
Market value chain
Market drivers and restraints
Read the full report: https://www.reportlinker.com/p06191800/?utm_source=GNW
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