What's driving the Rubber Processing Chemicals Market Share ? Top Companies – BASF, AkzoNobel, Solvay, Emerald Performance Materials, LANXESS, Arkema, Eastman Chemical Company, Sumitomo Chemical: Group Companies of the Americas
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Owing to the surging deployment of rubber components in various applications, the revenue graph of rubber processing chemicals market has lately been observing a commendable incline. Right from tires and seals to conveyor belts and housing, rubber is prominently used in automobiles and other industrial sectors.
Rubber Processing Chemicals Market, Product by Application
o Flame retardants
o Processing aids
Rubber Processing Chemicals Market, by Application
Considering the escalating demand for this polymeric substance, numerous core companies have been working to establish new facility centers across myriad geographies. The consistent construction of such rubber production plants across the globe is thus poised to impel rubber processing chemicals market size over the years ahead.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
6. Eastman Chemical Company
7. Kumho Petro Chemical
8. Emerald Performance Materials
9. Sumitomo Chemical: Group Companies of the Americas
10. Merchem Ltd.
11. Pukhraj Additives LLP
The increasing awareness about the growing deforestation pertaining to the rise in the production of rubber-based components will also have a significant impact on the rubber processing chemicals market. Most of the rubber manufacturers, on these grounds, have been shifting their focus toward the development of sustainable rubber and have also been working to facilitate recycling of rubber plants.
With the increasing proportion of automobile purchase across the globe, tire and rubber manufacturers have been expanding their facility centers to cater to the rising demand. The growing development of new rubber manufacturing plants has in turn been influencing rubber processing chemicals industry size – say for example, a few days ago, Versalis commenced a new rubber production plant in Italy that will mainly deliver products to the automotive industry. In this project, the Italian chemical company has invested more than USD 250 million to reindustrialize the production plant.
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The aforementioned investment has been touted to emerge rather beneficial for Versalis and will increase its production capacity to nearly 50,000 metric tons per annum. In addition to the capacity expansion, the company is also looking forward to establishing a research center at the same location. Collectively, the increasing investments by chemical companies in the development of new rubber manufacturing plants will have a positive influence on the Europe rubber processing chemicals market share.
In the past two decades, India and China have emerged as prominent business hubs for automakers and chemical companies owing to the surging demand for vehicles. It is prudent to note however, that after the use of vehicles and auto parts such as tires, window housing, and other rubber products, there is a rise in the level of rubber wastage. In fact, over the last few years, the solid waste from used tires has been increased tremendously which has led to major environmental issues. In accordance, several rubber manufacturing companies have been coming forward to recycle tires post usage. The shifting focus of rubber manufacturers toward the adoption of recycling technologies for maintaining the environmental decorum is poised to fuel the demand for rubber processing chemicals on a large scale.
Speaking along the same lines, in South Africa, the Mathe Group recently decided to develop a new recycling facility. Earlier before the establishment of recycling plants, only 4% of waste tires had been recycled, however, the number has considerably increased now. As per estimates, in 2016, at one of its recycling plants, Mathe processed nearly 65,000 tires, and currently, the Mathe Group has been processing nearly 30 to 40 tons of used truck tires per day. Mathe’s proactiveness proves that the growing concern about the need for waste tire processing is slated to impel rubber processing chemicals market outlook over the years ahead.
Browse key industry insights spread from the report, “Rubber Processing Chemicals Market” in detail along with the table of contents:
Proportionate to the remarkable rise in the use of rubber for several applications, investments in the rubber processing chemicals industry have been increased rapidly. Aided by myriad plant expansions, new technology adoption, and the spate of tire waste recycling practices, the demand for rubber processing chemicals is bound to experience an upsurge ahead. The increasing awareness among the tire manufacturers about the prominent need of product enhancement for gaining more profit and strengthening their customer base will also stimulate the rubber processing chemicals market size, which is likely to be pegged over USD 5.3 billion by the end of 2025.
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