Global Rubber Processing Chemicals Market Witnessed to Reach a Value of US $5.1 billion by 2024

The rapidly expanding market for rubber processing chemicals is the focus of a new study included to the mega-repository of Market Research Hub (MRH).

This is the latest published report, prepared by Transparency Market Research (TMR) analysts and entitled as “Global Rubber Processing Chemicals Market”- Industry Analysis, Size, Share, Growth, Trends and 2016-2024 Forecast. This report estimates and forecasts the rubber processing chemicals on the global, regional and country levels. Moreover, it highlights various drivers, opportunities and restraints that are estimated to influence the global market growth during the given forecast period.

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As per the TMR analyst’ estimations, the global rubber processing chemicals market will exhibit a CAGR of 4.7% between 2016 and 2024. At this pace, the market evaluation will touch the mark of US$5.1 bn until the end of 2024, which was valued at US$3.4 bn in 2015.

Firstly, the report briefly discusses the market definition and scope in the global market along with market segmentation. From several years, Rubbers are used to manufacture a broad range of products including tires, hoses, matting, belts, flooring and gloves. On the other hand, rubber processing chemicals belong to a set of specialty chemicals added to rubber to make it commercially viable for usage in various application. They are used to impart different characteristics to rubber such as resistance to ozone, heat, mechanical stress, oxidation and others. Some of the major properties include resilience, abrasion resistance, flex resistance, hardness, and tensile strength for product-specific end-use applications. By types, it includes:
• Antidegradants
• Vulcanizing Agents
• Accelerators
• Stabilizers
• Others (include processing aids, peptizers, anti-tack agents etc.)

In terms of application, the rubber processing chemicals market has been further segregated into tire and non-tire. The non-tire segment covers automotive, building & construction, industrial etc. As per the key findings, Rubber processing chemicals play a crucial role in enhancing the properties of rubber for its usage in the production of automotive tires. Thus, with the demand for vehicles scaling high across the world, the rubber processing chemicals market is forecast to exhibit robust growth in the future.

Moreover, the study provides an inclusive view of the rubber processing chemicals market by dividing it into type, application and geography. In terms of geography, the current and forecast demand for rubber processing chemicals in Europe, Asia-Pacific, Latin America, North America and Middle East & Africa (MEA) are outlined. The research estimates that, in North America and Europe, the market will witness steady demand, despite their sluggish economic growth. Also, rising demand from emerging nations such as India and China, besides the demand from flourishing automotive and construction industry in Japan, will create lucrative opportunities.

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Moving further, the research highlights the key players with their detailed profile. They are BASF SE, China Petroleum & Chemical Corporation, Eastman Chemicals Company, Arkema Inc. Akzo Nobel N.V., Solvay, and Sumitomo Chemical Co. Ltd., LANXESS, Emerald Performance Materials, LINKWELL and Merchem.

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This release was published on openPR.