DUBLIN--(BUSINESS WIRE)--The "Rubber Additives Market with Covid-19 Impact Analysis, by Type (Antidegradants, Accelerators), Application (Tire and Non-Tire), and Region (Asia Pacific, North America, Europe, Middle East & Africa, South America) - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The rubber additives market is projected to reach USD 9.3 billion by 2026, at a CAGR of 3.5% from USD 7.8 billion in 2021
The rapidly growing automobile industry in the region is the key driver of the market. Rubber additives are utilized majorly by the automobile industry to produce tires.
China is the largest market for rubber additives in the region. The growth of the rubber additives market is primarily triggered by the growing automobile industry which in turn drives the need for rubber additives. The stringent government regulations foster manufacturers to comply with the environment standards.
Thus, the government regulations coupled with the growing environmental concerns are expected to restrain the growth of the market. The opportunities for this market are rapidly increasing demand from the Asia-Pacific region and emergence of high-performance rubbers.
The antidegradants is the largest type of rubber additives for rubber additives market in 2020
The demand for antidegradants is fuelled by the expansion in its applications such as tire and industrial rubber products. These are used to improve the rubber's resistance against the effects of sunlight, oxidation, heat, and mechanical stress. Moreover, they are used to improve the performance and lengthen the service life of rubber products.
The market for accelerators is estimated to witness a decent growth due to their increased demand for vulcanizing rubber products. The others segment is estimated to witness slow growth during the forecast period. Processing aids, blowing agents, among others are used to improve the plasticity of rubber.
Tire is estimated to be the largest application of rubber additives market in 2020.
Rubber is the primary raw material used in the production of tires. Several additives are used to attain the desired properties of rubber. Rubber additives are used in tires to provide specific characteristics such as high friction for racing tires and high mileage for passenger car tires.
The growing automotive industry in Asia-Pacific demands processed tires to meet the demand of the customers. The stringent environmental norms in Europe demand the use of high-tech rubber for various applications. Therefore, rubber is processed using additives to attain the desired properties of heat resistance, friction, mechanical stress, and others. The rising global motor vehicle production is the key factor driving the market for rubber additives.
Asia Pacific is expected to be the largest rubber additives market during the forecast period, in terms of value.
Asia Pacific is the fastest-growing region in rubber additives market owing to rapid economic growth in the region. The increased demand for superior quality processed rubber from the automotive industry is driving the market for rubber additives in the region.
The growing population coupled with the increasing purchasing power of consumers is boosting the demand for automobiles in the region. This in turn drives the market for rubber additives as they are required to enhance the properties of rubber which is used to manufacture automotive tires.
Competitive landscape
The key market players profiled in the report Arkema S.A.(France), Lanxess AG (Germany), BASF SE (Germany), Solvay S.A. (Belgium), Sinopec Corporation (China), R.T. Vanderbilt Holding Company, Inc. (US), Emery Oleochemicals (US), Behn Meyer Group (Germany), Toray Industries, Inc. (Japan), and Sumitomo Chemical (Japan).
Executive Summary
- Antidegradants to be Largest Type of Rubber Additives
- Non-Tire Segment to be Faster-Growing Application of Rubber Additives
- Asia-Pacific Accounted for Largest Share of Rubber Additives Market in 2020
Premium Insights
- Asia-Pacific to Lead Rubber Additives Market During Forecast Period
- Asia-Pacific to Register Highest CAGR During Forecast Period
- China Led Rubber Additives Market in Asia-Pacific in 2020
- Tire Application Dominated Overall Market in Most Regions in 2020
- India to Register Highest CAGR Between 2021 and 2026
Market Dynamics
Drivers
- Increasing Demand from Non-Tire Rubber Applications
- Increasing Demand for Natural Rubbers
- Increasing Demand for Rubber in Electric Vehicles (Evs)
Restraints
- Stringent Environmental Regulations
- Improper Disposal of Effluents by Rubber Industry Affecting Genuine Rubber Additives Market
Opportunities
- Adoption of Green Technology and High-Performance Rubbers
- Rising Developmental and Cross-Industry Collaboration Activities
Challenges
- Fluctuations in Raw Material Prices
Porter's Five Forces Analysis
Supply Chain Analysis
- Raw Materials
- Rubber Additive Manufacturers
- Distribution Network
- End-Use Industry
Company Profiles
Major Players
- Basf Se
- Lanxess Ag
- Arkema Sa
- Solvay Sa
- Sinopec Corporation
- R.T. Vanderbilt Company, Inc.
- Emery Oleochemicals LLC
- Behn Meyer Group
- Toray Industries, Inc.
- Sumitomo Chemical
Other Key Market Players
- China Sunshine Chemical Holdings Limited
- Kemai Chemical Co. Ltd.
- National Organic Chemical Industries Limited
- Pukhraj Additives Llp
- Thomas Swan & Co. Ltd.
- Celanese Corporation
- Struktol Company of America, LLC
- Prisma Rubber Additives
- Kraton Corporation
- Taoka Chemical Co. Ltd.
- Peter Greven GmbH & Co. Kg
- King Industries Inc.
- W.R. Grace & Co.
- Wacker Chemie Ag
- Qingdao Scienoc Chemical Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/geybw8
