Press release
Rubber Additives Global Market Estimated to Surge at a CAGR of 9.0% to Reach $8.6 Billion By 2028 | BASF SE, MLPC International, Toray Industries Inc., Solvay S.A., Arkema S.A.
Rubber Additives Global Market
The Business Research Company presents an extensive market research report on the Rubber Additives Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The rubber additives market size has grown strongly in recent years. It will grow from $5.6 billion in 2023 to $6.1 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to automotive industry growth, tire manufacturing expansion, industrial and manufacturing activities, rising construction sector, globalization and trade.
The rubber additives market size is expected to see strong growth in the next few years. It will grow to $8.6 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to focus on sustainable and eco-friendly solutions, urbanization and infrastructure development, advancements in rubber technology, increased use in non-tire applications, regulatory compliance and quality standards. Major trends in the forecast period include shift towards bio-based and sustainable additives, increased use of processing aids, growing demand for flame retardant additives, focus on anti-foaming agents, innovations in colorants and pigments.
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Key Market Players:
Major companies operating in the rubber additives market report are China Petroleum & Chemical Corporation, BASF SE, MLPC International, Sumitomo Chemical Co Ltd., Toray Industries Inc., Solvay S.A., Arkema S.A., Akzo Nobel N.V., Eastman Chemical Company, Celanese Corporation, Wacker Chemie AG, Lanxess AG, Kraton Corporation, Emery Oleochemicals LLC, Behn Meyer Group, China Sunsine Chemical Holdings Limited, Emerald Performance Materials LLC, Peter Greven GmbH & Co KG, Rhein Chemie GmbH, Akrochem Corporation, King Industries Inc., Vanderbilt Chemicals LLC, R.T. Vanderbilt Holding Company Inc., Thomas Swan & Co Ltd., Struktol Company of America, Prisma Rubber Additives Ltd., Performance Additives LLC, Nocil Limited, Kemai Chemical Co Ltd., Addivant USA LLC, Albemarle Corporation, Cabot Corporation, Chemtura Corporation, Clariant AG, Croda International plc, Evonik Industries AG, Huntsman Corporation, Momentive Performance Materials Inc., PMC Group Inc.
Market Drivers:
Increasing demand for high-performance rubber is expected to propel the growth of the rubber additives market going forward. High-performance rubber refers to the material's capacity to tolerate rather harsh environmental conditions such as heat, chemicals, and solvents. High-performance natural rubber composites using a carbon nanotube-modified natural fiber reinforcing structure For instance, in April 2022, according to a report shared by the Association of Natural Rubber Producing Countries (ANRPC), a Malaysian-based inter-governmental organization, the natural rubber (NR) market is predicted to improve further in terms of consumption. Inn 2022, the global output was 1.113 million tons, up 3.8% from the same month in 2021, but global consumption increased at a faster rate of 5.8% to 1.206 million tons. Therefore, the increasing demand for high-performance rubber is driving the growth of the rubber additives market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/rubber-additives-global-market-report
The rubber additives market covered in this report is segmented -
1) By Type: Activators, Accelerators, Vulcanization Inhibitors, Plasticizers, Other Types
2) By Application: Tire, Non-Tire
3) By End Use: Automotive, Consumer Goods, Building and Construction, Electrical Insulation
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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