Rubber Processing Chemicals Market Size, Share, Growth, Business Strategies and Forecast by 2030
Posted on Mar 8 2023 5:39 AM
"Companies covered in the Rubber Processing Chemicals Market are BASF SE, Solvay, Lanxess, Arkema, Eastman Chemical Company, PMC Rubber Chemicals India Private Limited, Merchem Limited, and others "
The global rubber processing chemicals market size is projected to experience dynamic growth in the upcoming years owing to the rising demand for tires from the automotive sector, observes Fortune Business Insights™ in its report, titled “Rubber Processing Chemicals Market, 2023-2030”.
The rubber processing chemicals are primarily used to improve the chemical properties of rubber. These types of chemicals help to enhance the resilience, hardness, and also increase the tensile strength of rubber in order to make it more useful in various industries. There is an increasing demand for tires, rubber belts, wiper blades, and others from the automotive industry, which is projected to fuel the growth of this market during the forecast period. However, the strict rules and regulations imposed by the government regarding emission of hazardous chemicals are projected to impede the growth of this market.
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On the basis of type, this market is classified into antidegradants, accelerators, adhesion promoters, blowing agents, anti-scorch agents, polymerization regulators, and others. Based on application, the market is divided into tire and non-tire. By geography, the market is clubbed into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The report supplies holistic research, based on primary, secondary, and tertiary sources, on the various factors and trends driving the market. This report also contains a comprehensive understanding of the key market players and their dominant growth strategies. Along with this, the report provides a nuanced segmentation of the market and a thorough analysis of each and every segment. Lastly, the report shares a broad-based study of the regional developments shaping the future outlook of the market.
List of Key Players Covered in the Rubber Processing Chemicals Market Report:
BASF SE, Solvay, Lanxess, Arkema, Eastman Chemical Company, PMC Rubber Chemicals India Private Limited, Merchem Limited.
Rising Number of Construction Activities Worldwide to Fuel the Market
There has been a substantial growth in the number of construction activities such as construction of roads, highways, buildings, and others across the world, which has resulted in the rising demand for rubber processing chemicals as these chemicals can be used in flooring and roofing applications. Thus, this is a major reason driving the growth of this market across several regions. Further, there is a high demand for rubber from the automotive industry as the rubber can be used in the production of tires. This is another vital factor contributing this market’s growth.
Increasing Industrialization to Boost the Asia Pacific Market Growth
Asia Pacific region is projected to dominate in the rubber processing chemicals market share on account of the rising industrialization in the countries such as India, China, Thailand, and others.
North America region is anticipated to grow speedily in this market due to the increasing number of construction activities in the countries such as the US and Canada.
Rising Developments in the Rubber Production by Key Players to Animate Competition
The prominent companies in the rubber processing chemicals market are focusing on increasing their rubber production due to the rising demand for rubber from various industries. This has resulted in the increasing competition among key companies which will help them to diversify their product portfolio and broaden their market presence.
October 2020: BASF invested 16 million Euros into Pyrum Innovations Inc, specialized in pyrolysis of waste tires. The company is expected to extract oil from the waste tires and use it for manufacturing new products.
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