The Global Rubber Processing Chemicals market was valued US$ X.63 Bn and is expected to reach X.82 Bn by 2027, at a CAGR of X.9% during the forecast period. Rising demand from automotive and tyres industries across the globe are highly demanding for rubber processing chemicals, owing to its diverse application holding over 70% of market share.
Global Rubber Processing Chemicals market, By Application
Market Definition:
Constant growth in end-user sector is helping this market to grow. In the year of 2019 documented production of automobiles was XX thousand and this has displayed an optimistic response for the rubber processing chemical market to grow. In terms of market share Asia Pacific was valued XX Bn with considerable CAGR of XX%. While globally market was valued X.82 Bn by 2027, at a CAGR of X.9% during the forecast period.The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Numerous competitive players are expected to accomplish various opportunities for this market in comping years because of high demand for the rubber processing chemical in this region. Yasho Industries Pvt. Ltd is one of the major key player operator in India, has documented 25,000 tones/year and planning for post expansion in their total capacity, will provide numerous opening for employment. Rubbers chemical demand in China is projected to grow X% per year through 2020 to more than XX metric tons.
Market Influencer:
Easily available rubbers chemicals across the globe is helping rubber chemical processing market to grow. Rubber chemical processing is a rapidly utilised by various sectors like automobile, electronics, medical, aerospace, footwear production projected to boost the rubber processing market growth. Additionally, growing application in roofing material, sealant in construction work place, sound insulation will drive the market growth in coming years. Furthermore, from non-tire application it is widely used for the production of belt, hoses and lining, coating, gasket, ball bladders, birthday balloons, gum will fuel the global rubber processing market growth. On economical level birthday balloons have increase the demand amongst the growing population. On the other hand, demand for other processing chemicals including adhesion promoters, processing aids, and blowing agents, among others has reached almost XX MT in 2020 is contributing for the market expansion.
Furthermore, fluctuation in raw material cost and growing environmental norms with strict governmental regulations are anticipated to hinder the growth of global rubber processing market over the forecast period.
Rubber Processing Chemicals Market Segment analysis:
By product type, accelerator segment is expected to dominate the market and held largest market share in 2019. Accelerators is a class of chemicals which is hooked to speed up the vulcanization process. Types of accelerators includes primary and secondary. Primary accelerators cover sulphenamides and thiazoles and. Secondary accelerators include thiurams and dithiocarbamates. Additionally, consumption of accelerators in rubber processing allows producers to manipulate sulphur dosage and curing temperature. Furthermore, rise in awareness about the new technology and trends amongst the population is attracting the vendors to invest in by which it is generating various opportunity for rubber processing chemicals market to grow in near future. Virtually, global accelerator market is estimated to reach XX Bn with projected CAGR of XX% during the forecast period.
Trending News Flash:
Global Trade Impact of the covid-19 Epidemic: Honda spokesperson, have release the company report on March 3, 2020 saying that “Honda Motor Co. will reduce vehicle output at two of its domestic plants in Saitama Prefecture for a week or so in March due to concerns about parts supply from China where a new coronavirus outbreak continues to disrupt economic activities, will reduce the growth in of rubber chemical market across the globe.
Coronavirus and its impact on chemical industries: China is a major supplier of specialty chemicals for textiles, especially Indigo required for denim. The business in India is likely to get affected and people are securing their supplies. However, it is also an opportunity since the US and the EU will try and diversify their markets and mitigate China risk. Some of this business can be diverted to India if taken advantage of will boost the India rubber manufacturing firm and will simultaneously show its impact on rubber processing chemical market to grow.
Rubber Processing Chemicals Market Regional Analysis:
Regionally, Asia Pacific is expected to dominate the rubber processing chemicals market with an expected to grow at CAGR of XX % during the forecast period. Developing construction, automotive and transportation, electrical and electronics, medical industries in Asia Pacific especially in the India, China, south Korea, and Thailand is boosting the market growth. In 2019 market size was valued US$ XX Bn while in U.S, market size was valued XX Bn and expected to increase by US$ XX Bn in coming years. In the year of 2019 approximately 40% of market is acquired by Asia Pacific region and expected to show constantly in future.
On the other hand, U.S. stands second in the list of the world’s market for vehicle production and sales. The country’s automotive industry is leading in terms of development and innovation. According to the Auto Alliance, the U.S. has spent almost a fifth of the global R&D spending in the automotive industry is boosting the market growth in this region.
The objective of the report is to present a comprehensive analysis of the Global Rubber Processing Chemicals Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Rubber Processing Chemicals Market dynamics, structure by analysing the market segments and project the Global Rubber Processing Chemicals Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Rubber Processing Chemicals Market make the report investor’s guide.
Scope of Rubber Processing Chemicals Market
Global Rubber Processing Chemicals Market, By Product
• Anti-Degradants
• Flame Retardants
• Processing Aids
• Accelerators
Global Rubber Processing Chemicals market, By Application
• Non-Tire
• Tire
Global Rubber Processing Chemicals Market, By Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
Key Players Operating the Rubber Processing Chemicals Market
• Emerald Performance Materials Company
• Eastman Chemical Company
• Kumho Petrochemicals
• Pukhraj Additives LLP
• Sumitomo Chemical
• Merchem Limited
• Lanxess, Arkema
• Akzo Nobel N.V
• Solvay S.A
• BASF SE
• Linkwell
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