Fact.MR’s global rubber processing chemicals market report forecasts a moderate outlook, anticipating a CAGR of approximately 3% to reach nearly US$ 6 Bn by the end of the 2021-2031 forecast period. Uptake is most likely expected across the automotive tire manufacturing sector, attributed to swelling vehicle ownership, both, commercial and private.
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Despite retaining a positive trajectory, growth was sluggish during the historical period. According to Fact.MR’s report, sales of rubber processing chemicals expanded at just above 2% CAGR. This is largely ascribed to a general slowdown in the global automotive industry. In addition, COVID-19-induced depression across major industrial verticals further slowed down market growth, leading the market to close in at approximately US$ 5 Bn in 2020.
Fortunately, prospects are expected to rebound, as several countries resume industrial production activities amid flattening infection curves. Prominent manufacturers are expected to find renewed growth opportunities in the synthetic rubbers domain. Owing to structural superiority in comparison with natural rubber, synthetic rubbers are fast making inroads across major industries, prompting chemical companies to focus on synthetic rubber processing chemicals.
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Key Takeaways from Market Study
- Demand for flame retardants in rubber processing to incline at a CAGR exceeding 3%
- Anti-degradant rubber processing chemical sales to reach nearly US$ 3 Bn by 2031
- By application, tire manufacturing to account for over 40% rubber processing chemical demand
- Sales across the U.S. surpassed US$ 1 Bn in 2020, nudged by applications across synthetic rubber manufacturing
- Robust chemical industry growth to heighten sales across China, poised to expand at over 5% CAGR
- India, Australia, and South Korea to contribute a total of over US$ 800 Mn by 2031
“Growing emphasis on improving structural quality of rubber-manufactured products, in terms of durability, flexibility, and abrasion resistance, is heightening incorporation of rubber processing chemicals by key industries,” says a Fact.MR analyst.
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Competitive Scenario
BASF SE, Arkema Group, Behn Meyer Holding AG, China Petroleum & Chemical Corporation (SINOPEC), Eastman Chemical Company, Emerald Kalama Chemical LLC, Emery Oleochemicals Group, Kumho Petrochemical Co. Ltd. (KKPC), and Sinochem Group Co. Ltd. are prominent rubber processing chemical manufacturers profiled in Fact.MR’s report.
- In March 2019, Emerald Kalama Chemical LLC announced the launch of two new proprietary innovations in its VITROFLEX® benzoate plasticizers A90 and A99, which are used in the A (polymer) side of 2-part polysulfide sealants, ensuring higher performance.
- In May 2021, Behn Meyer Holding AG companies operating across Thailand acquired the ISO 14001: 2015 certification for their impressive environmental management systems (EMS). These include its chemicals and agribusiness units.
Key Segments Covered in Market Study
- Product
- Anti-Degradant Rubber Processing Chemicals
- Rubber Processing Accelerators
- Rubber Flame Retardant Chemicals
- Rubber Processing Aids/Promoters
- Other Rubber Processing Chemical Products
- Application
- Rubber Processing Chemicals for Tire Applications
- Rubber Processing Chemicals for Non-Tire Applications
Key Country-wise Inclusions
• US Rubber Processing Chemicals Market
• Canada Rubber Processing Chemicals Market Sale
• Germany Rubber Processing Chemicals Market Production
• UK Rubber Processing Chemicals Market Industry
• France Rubber Processing Chemicals Market
• Spain Rubber Processing Chemicals Market Supply-Demand
• Italy Rubber Processing Chemicals Market Outlook
• Russia & CIS Market Analysis
• China Rubber Processing Chemicals Market Intelligence
• India Rubber Processing Chemicals Market Demand Assessment
• Japan Rubber Processing Chemicals Market Supply Assessment
• ASEAN Rubber Processing Chemicals Market Scenario
• Brazil Rubber Processing Chemicals Market Sales Analysis
• Mexico Rubber Processing Chemicals Market Sales Intelligence
Crucial insights in the Rubber Processing Chemicals Market research:
- Underlying macro- and microeconomic factors impacting the growth of the Rubber Processing Chemicals Market Basic overview of the Rubber Processing Chemicals Market including market definition, classification, and applications.
- Scrutinization of each Rubber Processing Chemicals Market player based on mergers & acquisitions, R&D projects, and product launches.
- Adoption trend of Rubber Processing Chemicals Market across various industries.
- Important regions and countries offering lucrative opportunities to Rubber Processing Chemicals Market stakeholders.
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