What's Driving The Rubber Processing Chemicals Market Size? | Key Company Profiled In Solvay, BASF, AkzoNobel, Emerald Performance Materials, LANXESS, Arkema, Eastman Chemical Company, Sumitomo Chemical: Group Companies of the Americas

Global Rubber Processing Chemicals Market is forecast to exceed USD 5.31 billion; according to a new research report. Growing construction activities across the globe shall propel the rubber processing chemicals (rubber chemicals) market in near future. Increasing rate of urbanization in the emerging economies is likely to fuel the construction industry growth over the forecast period. In construction industry, rubber is used in floor coverings, sound insulation, roofing materials and sealants. In addition, increasing applications of rubber in allied industries is anticipated to augment the product demand in next few years.

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Global rubber processing chemicals market will be primarily driven by rapidly increasing automobile industry. According to latest OICA reports global automobile sale in 2017 was 97 million vehicles. This massive size of the automobile industry shall fuel the product demand in near future. In addition, positive growth number from the construction industry are likely to help the rubber processing chemical market to grow further. Product is used in the construction industry in roofing materials, floor covering, sound insulators and sealants.
Rubber Processing Chemicals Market, Product by Application
o Accelerators
o Flame retardants
o Anti-degradants
o Processing aids
o Others
o Tire
o Non-tire

Rubber Processing Chemicals Market, by Application
o Tire
o Non-tire

Anti-degradants were the major product segment in 2017 and is forecast to grow with a prominent CAGR. Anti-degradant rubber chemicals demand from the tire segment has been increasing rapidly from past few years. It improves rubber's resistance to the effects of oxidation, sunlight, ozone, heat and mechanical stress. Accelerator segment held the largest market share in rubber processing chemicals market in 2017. It shall grow with a significant CAGR during the forecast timespan. Accelerators are used to increase the speed of rubber production and quality.

Tire segment accounted for the largest share of rubber chemicals market in 2017. Rubber processing chemicals demand in tire is likely to grow with a significant pace in near future. Rapidly growing automobile industry is likely to spur the demand for tires during the forecast period. Owing to the increasing construction activities, non-tire application segment is poised to gain prominence over the forecast period.

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Asia Pacific created a major chunk of product demand in past and it is likely to grow with highest growth rate over the forecast timeframe. This can be attributed to the presence of major automobile manufacturers in this region. According to the recent OICA reports, more than 50% of global vehicles (passenger and commercial, both) are manufactured in Asia Pacific. Europe was second largest in rubber processing chemicals market in 2017 in terms of volume. Presence of a well-established automobile industry in Germany, France, Italy and UK, drives a major portion of Europe rubber processing chemicals demand and is likely to continue in future.

Even though the commercialization prospects of rubber processing chemicals market appear highly promising, it would be prudent to take note of some major regulatory guidelines across various nations that may hinder the pace of product penetration in the near future. Numerous prominent government authorities along the likes of the Environment Protection Agency in the United States and European Commission have been proactive in laying down stringent regulations pertaining to the utilization and disposal of rubber processing chemicals. Implementation of these regulations is considered as highly crucial as most of the toxic rubber processing chemicals are discharged in water bodies – a practice that poses an immense threat to the aquatic life and is known to have an adverse impact on biodiversity.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. LANXESS
2. Arkema
3. BASF
4. Solvay
5. AkzoNobel
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

Owing to the swift deployment of sustainable processing methods by various rubber manufacturers and incorporation of advanced technologies at rubber production facilities, the rubber processing chemicals market share is slated to progress at a commendable pace in the years ahead. In fact, as per a research study put together by Global Market Insights, Inc., the remuneration scale of rubber processing chemicals industry is expected to surpass 5 billion-dollar mark by 2024.
The competitive hierarchy of the global rubber processing chemicals market is being spearheaded by major corporations along the likes of Merchem Limited, R.T. Venderbilt Holding Company, Inc., Sumitomo Chemicals, Linkwell, Emerald Performance Materials, AkzoNobel N.V., Eastman Chemical Company, Kumho Petrochemicals, Solvay S.A., BASF SE, and Lanxess.

Browse key industry insights spread from the report, “Rubber Processing Chemicals Market” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/rubber-processing-chemicals-market

Many giant multinational and medium-scale companies are operating in the rubber processing chemicals market. Some prominent players functional in the industry include Kumho Petrochemicals, BASF SE, Eastman Chemical Company, Solvay S.A., AkzoNobel N.V., Emerald Performance Materials, Sumitomo Chemicals, Linkwell, R.T. Venderbilt Holding Company, Inc., Pukhraj Additives LLP and Merchem Ltd. Major players working in the rubber chemical market are having joint ventures with local manufacturers to increase their global presence. For instance, in May 2012, LANXESS started a nitrile butadiene rubber (NBR) plant in China. It is opened with Taiwan?s TSRC Corporation in a 50:50 joint venture. Both companies have invested USD 50 million each. This plant is having an annual capacity 30,000 metric tons.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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