Rubber Processing Chemicals Sales to Grow by 3% as Demand for Rubber Flame Retardants Continues Accelerating: Fact MR Study
- 170 Pages Market Research Survey by Fact.MR, A Market Research and Competitive Intelligence Provider, Highlights Key Factors Enabling Rubber Processing Chemicals Market Growth
- The rubber processing chemicals market survey offers insights into chief drivers and restrains impacting the overall growth trajectory. The survey also provides insights into competitive landscape of the market, identifying the key market players and analyzing the impact of their growth strategies.
NEW YORK, July 8, 2021 /PRNewswire/ -- As per a study by Fact.MR, rubber processing chemicals sales experienced slow growth in 2020, closing at a little over US$5bn on account of recessionary impacts of COVID-19 pandemic. The global rubber processing chemicals market is expected to reach US$6bn during the forecast period at a rising CAGR of 3%, expanding by 1.2X between 2021 and 2031.
The rising demand from building, construction, and automotive industry is expected to drive the sales of rubber processing chemicals globally. Rubber is extensively used for manufacturing belts, pipes, flooring, mats, tires, and gloves. It is increasingly being adopted as it has enhanced resistance against ozone damage, mechanical stress, effects of oxygen, sunlight, and heat.
Among products available, sales of rubber flame retardants will rise at a high pace. Sales of this product category will rise in response to the increasing demand for solutions to prevent tire overheating in the automotive sector.
Based on application, sales within rubber processing chemicals for tire manufacturing will account for nearly 40% of revenue generated in the market by 2031. Rising demand for curing systems and anti-ozonants is expected to primary cash cow since these systems are often incorporated to prevent wear and tear of rubber tires.
Rising demand for curing anti-ozonants, and antioxidants systems will generate revenue as they are increasingly demanded to prevent wear and tear of rubber tires. For instance, Brenntag SE deliver AMINOX and BLE 65 stabilizers that perform the same.
"Growing health and environment concerns are pushing manufacturers to develop environmental friendly products in the market. Considering this, the market is expected to witness a slew of product launches, which will enable growth in the coming years", says the Fact.MR analyst.
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Flame retardants will record a CAGR of 3% during the forecast period of 2021-2031. Applications in rubber processing areas such as silicon rubber production, roofing, mine belting, and wire and cable manufacturing will drive growth in the segment.
The U.S. will emerge as a lucrative rubber processing chemicals market. It was valued at US$1bn in 2020. Expansion of automotive industry will continue pushing growth in the country.
China is expected to exhibit a CAGR of 5% and valuation of US$1bn by 2031. Extensive expansion of Chinese chemical industry is boosting demand for automotive aftermarket.
Favorable government policies to accommodate entry of rubber processing chemical manufacturers will boost production and expansion of the market.
Increasing consumer spending on tire maintenance for improved automobile performance will create lucrative opportunities for the sales of rubber processing chemicals in global market.
Rising health and environment concerns related to large amount of wastewater from rubber processing is expected to hamper the market growth.
Stringent regulation from government and regulatory bodies regarding the usage and disposal of wastewater is likely to hinder sales of rubber processing chemicals market.
Key players operating in the global rubber processing chemicals market are investing in research and development activities to accelerate production capacities. They are also engaging in core strategies such as collaborations, merger & acquisitions to enhance their footprints in the market.
For instance, BASF SE, offers Koresin rubber tackifier that is suitable for application in production of premium and quality tires for replacement & re-treading operations, OEMs, special vehicles, trucks, and cars in the automotive industry.
Key players operating in the rubber processing chemicals market profiled by Fact.MR includes
Behn Meyer Holding AG
China Petroleum & Chemical Corporation (SINOPEC)
Eastman Chemical Company
Emerald Kalama Chemical LLC
Emery Oleochemicals Group
Kumho Petrochemical Co. Ltd. (KKPC)
Sinochem Group Co. Ltd.
More Insights on the Rubber Processing Chemicals Market:
Fact.MR provides an unbiased analysis of the rubber processing chemicals market, presenting historical demand data (2016-2020) and forecast statistics for the forecast periods from 2021-2031. The study divulges compelling insights on the global rubber processing chemicals with a detailed segmentation on the basis of
Anti-Degradant Rubber Processing Chemicals
Rubber Processing Accelerators
Rubber Flame Retardant Chemicals
Rubber Processing Aids/Promoters
Other Rubber Processing Chemical Products
Rubber Processing Chemicals for Tire Applications
Rubber Processing Chemicals for Non-Tire Applications
Middle East & Africa
Key Questions Covered in the Rubber Processing ChemicalsMarket Report
The report offers detailed insights into rubber processing chemicals demand outlook for 2021-2031
The market study also highlights projected sales growth for rubber processing chemicals market between 2021 and 2031
Rubber processing chemicals market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends, evaluation of current market size, and technological advancements within the industry
Rubber processing chemicals market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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