Global Rubber Processing Chemicals Market Study - Growth Sectors Explored and Analysed
The latest report on “Global Rubber Processing Chemicals Market Research Report - Industry Analysis, Size, Share, Growth, Trends And Forecast” added by DecisionDatabases.com provides a complete market outlook to those seeking an in-depth market knowledge. The study provides forecast and estimates market in terms of revenue and volume during the forecast period from 2015 to 2022. The report also provides market's mergers/acquisitions, partnerships, collaborations, new product launches, new product developments and other industry developments. Growing demand from automotive sector along with rising demand for non-tire rubber products is expected to drive market demand over the coming years.
Rubber processing chemicals are used to improve resistance of rubber against sunlight, ozone, heat, oxidation and mechanical stress. These chemicals are also an integral part of vulcanization process.These chemicals are divided into varied groups, based on functions such as anti-degradants, processing aids, blowing agents, accelerators, anti-scrotch agents, polymerization regulators, and shortstops. Over the past few years, manufacturers of synthetic rubbers have adopted various chemical formulations to meet specific needs of end-use industries. These chemicals also find a broad range of applications in the manufacturing industries to manufacture valuable items such as automobile tires and rubber mats.Growing population coupled with high purchasing power has boosted the demand for the automobile industry, which in turn will fuel market demand for rubber processing chemicals in the near future. However, the increasing environmental concerns along with the stringent regulatory framework are some of the major restraints, which may hamper market growth in the forthcoming years. The growth of bio-based rubber is further anticipated to open new avenues for the market growth over the forecast period.
The global rubber processing chemicals market has been segmented based on product into anti-degradants, flame retardants, accelerators, processing aids, and others. Anti-degradants is a leading product segment and is projected to continue its dominance during the forecast period owing to its growing demand across the globe. The market has been further segmented based on applications into tire and non-tire. Tire segment has accounted for major market share and is expected to witness a double-digit growth in the study period on account of growing automobile industry along with increasing application-scope for various applications.
North America is a major market and is projected to grow at a significant rate over the coming years due to the presence of huge automobile industry and increasing consumer preference for vehicles with the superior quality of rubber tires in the region. Asia Pacific is a fastest growing market and is estimated to grow at the highest CAGR during the forecast period owing to the expanding manufacturing industry, rising disposable income and increasing preference for rubber based products in the region.
The key industry players include Akzo Nobel, BASF, Emerald Performance Chemicals, Lanxess Corporation, Vanderbilt Chemicals, Eastman Chemical and Chemtura Corporation. The global market is consolidated in nature and manufacturers are focusing on product development and strong technical support for market expansion.
On September 22, 2015, Saudi Aramco and Lanxess have jointly signed an agreement for the production, development, marketing, distribution and sale of synthetic rubber and find wide range applications in the global tire industry and auto-parts manufacturing.
In April 2016, Lanxess and Saudi Aramco have announced the name of their joint venture as “ARLANXEO”, for synthetic rubber.
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