Press release
Rubber Additives Market Size, Share, Revenue, Trends And Drivers For 2024-2033
Rubber Additives Market
The Business Research Company offers in-depth market insights through Rubber Additives Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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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Market Segmentation:
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
Major Driver - Rising Demand For High-Performance Rubber Drives Growth In The Rubber Additives Market
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.
Competitive Landscape:
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.
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Top Trend - Companies Joined Forces For Sustainable Reinforcing Additives In The Rubber Industry
Major companies operating in rubber additives are adopting a strategic partnership approach to provide essential communication services to provide sustainable and high-performance solutions for the industry. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in December 2021, Cabot Corporation, a US-based chemicals company, partnered with International Flavors & Fragrances Inc. (IFF)., a US-based manufacturing company. With this partnership, they aim to result in the development and commercialization of sustainable reinforcing additives for rubber products, including tires, belts, hoses, gaskets, and automotive weatherstrips.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Rubber Additives Market Characteristics
3. Rubber Additives Market Trends And Strategies
4. Rubber Additives Market - Macro Economic Scenario
5. Rubber Additives Market Size And Growth
…..
27. Rubber Additives Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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