Antidegradants Largest Product Type in Terms of Revenue
The antidegradants product type category is the largest segment by value and is slated to display a CAGR Of 4.4% during the period of forecast. This segment is likely to reach a market valuation of nearly US$ 4,500 Mn by the end of the period of forecast in the year 2026.
Due to the growing demand from important end-use industries such as the tires industry, the global rubber processing chemicals market is exhibiting a steady growth. There is a growing demand for rubber in the automotive sector due to its various inherent advantages. This increasing demand from the automotive industry, especially in the developing countries, is boosting revenue growth of the global rubber processing chemicals market. A new report prepared by Persistence Market Research titled ‘Rubber Processing Chemicals Market: Global Industry Analysis 2012-2016 and Forecast 2017-2026’ studies the global rubber processing chemicals market in great detail and gives out the projections of this market over a nine year assessment period starting from the year 2017 and ending in the year 2026.
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This report presents the value forecast of the global rubber processing chemicals market and studies in detail the key market dynamics operating in the global rubber processing chemicals market in the form of drivers, restraints, opportunities and trends. As per the projections of Persistence Market Research, the global rubber processing chemicals market was estimated to be valued at nearly US$ 4,750 Mn at the end of the year 2017 and is likely to reach a figure of nearly US$ 7,000 Mn at the end of the period of forecast in the year 2026, and in the process exhibit a CAGR of 4.5% during the time span of 2017-2026.
Tires and Related Products Largest Application Segment
The tires and related products segment in the application category of the global rubber processing chemicals market is likely to exhibit a CAGR of 4.2% during the period of forecast. This segment was estimated to be valued at nearly US$ 3,300 Mn in 2017.
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Tire End Use Segment to Witness the Fastest Growth
The tire segment in the end user industry category of the global rubber processing chemicals market is slated to exhibit the fastest CAGR of 4.6% during the period of forecast and is likely to reach a market valuation of nearly US$ 5,000 Mn by 2026 end.
APEJ to Dominate the Global Rubber Processing Chemicals Market in Terms of Value
The APEJ regional market leads the global rubber processing chemicals market and is expected to display a CAGR of 5.6% during the period of forecast. The APEJ rubber processing chemicals market is anticipated to reach a valuation of nearly US$ 4,500 Mn by the end of the period of assessment in 2026.
Competition Landscape of the Global Rubber Processing Chemicals Market
Some of the key players operating in the global rubber processing chemicals market have been profiled in the competition landscape section of this report. Featured companies include NOCIL ltd., The Chemours Co., Arkema SA, Kumho Petrochemical Co. Ltd., Eastman Chemical Company, BASF SE, Sumitomo Chemical, Crofa International PlC, Solvay SA and Lanxess AG.
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