Rubber Additives Market Accelerates with Resilience and Performance
May 11,2022 | Chemicals
Rubber is the primary raw material used in the production of tires. Several additives are used to attain the desired properties of rubber. Rubber additives are used in tires to provide specific characteristics such as high friction for racing tires and high mileage for passenger car tires. The growing automotive industry in Asia-Pacific demands processed tires to meet the demand of the customers. The stringent environmental norms in Europe demand the use of high-tech rubber for various applications. Therefore, rubber is processed using additives to attain the desired properties of heat resistance, friction, mechanical stress, and others. The rising global motor vehicle production is the key factor driving the market for rubber additives.
The Rubber Additives market is projected to reach US$ 9.3 billion by 2026, at a CAGR of 3.5% from US$ 7.8 billion in 2021. The rapidly growing automobile industry in the region is the key driver of the market. Rubber additives are utilized majorly by the automobile industry to produce tires. China is the largest market for rubber additives in the region. The growth of the rubber additives market is primarily triggered by the growing automobile industry, which in turn drives the need for rubber additives. The stringent government regulations foster manufacturers to comply with the environment standards. Thus, the government regulations coupled with the growing environmental concerns are expected to restrain the growth of the market. The opportunities for this market are rapidly increasing demand from the Asia-Pacific region and emergence of high-performance rubbers.
Asia Pacific is the fastest-growing region in rubber additives market owing to rapid economic growth in the region. The increased demand for superior quality processed rubber from the automotive industry is driving the market for rubber additives in the region. The growing population coupled with the increasing purchasing power of consumers is boosting the demand for automobiles in the region. This in turn drives the market for rubber additives as they are required to enhance the properties of rubber, which is used to manufacture automotive tires.
The demand for anti-degradants is fuelled by the expansion in its applications such as tire and industrial rubber products. These are used to improve the rubber’s resistance against the effects of sunlight, oxidation, heat, and mechanical stress. Moreover, they are used to improve the performance and lengthen the service life of rubber products. The market for accelerators is estimated to witness a decent growth due to their increased demand for vulcanizing rubber products. The others segment is estimated to witness slow growth during the forecast period. Processing aids, blowing agents, among others are used to improve the plasticity of rubber.
The key market players profiled in the report Arkema S.A.(France), Lanxess AG (Germany), BASF SE (Germany), Solvay S.A. (Belgium), Sinopec Corporation (China), R.T. Vanderbilt Holding Company, Inc. (US), Emery Oleochemicals (US), Behn Meyer Group (Germany), Toray Industries, Inc. (Japan), and Sumitomo Chemical (Japan).
According to the exclusive market report offered on Bharatbook, a detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches, expansions, and mergers & acquisition associated with the market for rubber additives. Also, it is focused on industry trends, market ranking analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the rubber additives market; high-growth regions; and market drivers, restraints, opportunities, and challenges.
For more details of the market, kindly refer to the Rubber Additives market.
