Updated News: Rubber Additives Market — Global Industry Analysis and Forecast 2020 to 2027
Global Rubber Additives Market: Key Highlights
- According to the new market research report “Rubber Additives Market by Type (Activators, Accelerators, Vulcanization Inhibitors, Plasticizers, Others), by Application (Tires, Conveyor Belts, Electric Cable, Others), by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) — Global Forecast (2020 to 2027)”, the global rubber additives market is estimated to reach USD 6.8 Billion by 2027 at a CAGR of around 5.3% during the review period.
- The rubber polymers are processed and synthesized by adding some chemicals which are known as rubber additives
- Rubber additives are used with a raw polymer which helps to enhance the mechanical and structural properties and improve the quality and performance of the product
- Vulcanization accelerators & inhibitors, adhesion promoters, processing aids, chemical blowing agents, antiozonants and fillers are some of the types of rubber additive
Global Rubber Additives Market: Key Market Dynamics
- Rapidly increasing demand from tire manufacturing industry has expected to drive the market growth during the forecasted period. Moreover, growing application in enhancing structural and mechanical properties will further drive the market growth.
- The emergence of high-performance rubber has expected to pose an opportunity for rubber additive market during the forecasted period
- Growing environmental concerns have imposed various stringent governmental regulations which may hamper the market growth
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Global Rubber Additives Market: Regional Overview
Europe is anticipated to dominate the rubber additives market during the forecasted. The automobile market is at a mature stage has largely contributed to fuel the rubber-based product demand. According to the European Automobile Manufacturers’ Association (ACEA), 18.5 million motor vehicles were manufactured in 2019. Moreover, increasing growth in tire manufacturing and favourable tax policies has further drive the growth of the market.
The Asia-Pacific is anticipated to be the fastest-growing region in rubber additives market during the forecasted period. This is attributed to the growing population coupled with increased spending on automobiles. Moreover, the presence of the largest producers of rubber additives such as China Petrochemical Corporation, Toray Industries.Inc and others is driving the market.
Global Rubber Additives Market: Key Players Overview
- Akzo Nobel N.V.:
Akzo Nobel N.V. is engaged in producing paints and performance coating for both industry and consumers across the globe. Dulux, International, Sikkens and Interpon are the portfolio of brands offered by the company. Building & Infrastructure, Consumer goods, industrial, and Transportation are key markets served by the company. Akzo Nobel N.V. has presence in more than 150 countries across the globe.
Arkema is a France-based company engaged in producing specialty chemicals and advanced material. The company operates in four business segments including adhesive solution, advanced materials, coating solution, and intermediates. Arkema has 144 production plants and 15 research & development hubs located across the globe. The company has a geographical presence in over 55 countries.
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