Rubber Additives Market Insights
The rubber Additives Market is projected to be worth USD 10.43 Billion by 2028, registering a CAGR of 3.5% CAGR during the forecast period (2022-2028), The market was valued at USD 8.20 Billion in 2021. The antidegradants segment is estimated to fuel the growth of the market in the forecast period due to surging applications in rubber manufacturing. The tire segment is probable to generate high revenue in the rubber additive market as rubber is a basic raw material for producing tires. Further, the regional segment is dominated by the Asia Pacific due to the growing Automotive industry and surge in government investments.
Rubber additives are the basic ingredient added in the manufacturing of rubber to achieve desired characteristics. They facilitate the dispersion of the ingredients during mixing and make elastomers mix evenly. There are various additives added in rubber manufacturing, for instance, hydrocarbons resins are commonly used to enhance the workability of the tire.
Rubber Additives Market Dynamics
Rapid growth in the Automotive industry and demand for tire as well as rubber products are the major drivers of the market. Further, the rising need for superior quality rubbers in the automotive industry is anticipated to drive the rubber additive market.
Stringent regulation on chemicals to avoid harmful effects the on environment is a foremost factor hampering the growth of the market. As manufacturing rubber compound is a critical process, it involves various rules that must be followed. Some of the most critical rules are Proposition 65, European Union Medical Device Regulations (EUMDR), International Material Data System (IMDS), REACH, and IPC.
Increasing demand for green tires and green technologies are estimated to act as a growth opportunity for the various key players. As rubber industry has been a great contribution to environmental pollution and manufacturers are adopting various techniques such as dry vacuuming to prevent the spread of chemicals. Further, the adoption of smart irrigation practices in agriculture for the optimal distribution of water is estimated to support the growth o the market.
COVID-19 Analysis of Rubber Additives Market
The detrimental effects of the COVID-19 pandemic in numerous countries have shocked governments around the world, prompting them to act decisively to stop the COVID-19 spread. The first strain of Coronavirus was identified in Wuhan, China in December 2019 which affected the entire world. On a rise in infection across various nations, around 212 countries were infected by the pandemic. Most companies in numerous nations have been severely impacted by the global crisis and the COVID-19 pandemic. Import-export limitations caused delays and disturbances at foreign borders which harmed the rubber additive market. The raw material supply chain faced numerous obstacles as a result of restrictions on the mobility of persons and goods. Hence, overall, the rubber additive market has observed a high impact on the economy.
Rubber Additives Market Report Coverage
|Report Attributes||Report Details|
|Market Size in 2028 (USD Billion)||10.43|
|By Type||Antidegradants, Accelerators, Others|
|By Application||Tire, Non-tire|
|By geography||North America: U.S., Canada, Mexico|
Europe: Germany, France, U.K., Russia, Italy, Spain, BENELUX, Rest of Europe
Asia Pacific: China, Japan, India, South Korea, Australia, ASEAN, Rest of Asia Pacific
Latin America: Brazil, Argentina, Chile, Rest of Latin America
The Middle East and Africa: GCC, Turkey, Israel, Rest of MEA
Rubber Additives Market Segment Analysis
By type, the segment is trifurcated into antidegradants, accelerators, and others. The applications of the antidegradants segment are estimated to fuel the growth of the market in the forecast period. Antidegradants are used to enhance rubber resistance against mechanical stress, heat, oxidation, and sunlight. Moreover, they are also used to increase the durability and performance of rubber. Hence, the above-mentioned factors are estimated to boost the growth of the rubber additives market.
The Application segment is bifurcated into the tire and non-tire segments. The tire segment is projected to lead the rubber additive market growth. Rubber is a major raw material for the manufacturing of tires. Rubber additives are used to make tires to enhance the quality of tires and provide characteristics such as friction resistance, high mileage, durability, and others. Further, the growing automotive industry is estimated to accelerate the demand for tires and thus, supplement the growth of the rubber additive market. A non-tire segment is anticipated to supplement the growth of the market during the forecast period.
The regional segment includes Asia Pacific, Europe, North America, Middle East, and Africa, Latin America. The Asia Pacific is estimated to lead the market for rubber additives. The region’s market for rubber additives is being driven by the growing automobile industry’s demand for processed rubber of the highest quality. Further, the demand for cars is growing as a result of the region’s expanding population and rising consumer spending. Further, China is estimated to lead the Asia Pacific region in terms of both production and demand. Thus, the above-mentioned factors are estimated to generate high revenue in the regional market.
Rubber Additives Market Competitive Landscape
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Further, the surge in Research and Development (R&D), product innovation, and various business strategies have accelerated the growth of the market. Some of these players in the Rubber Additives market include-
- Arkema S.A.
- Lanxess AG
- BASF SE
- Solvay S.A.
- Sinopec Corporation
- T. Vanderbilt Holding Company, Inc.
- Emery Oleochemicals
- Behn Meyer Group
- Toray Industries, Inc.
- Sumitomo Chemical
- Prisma Rubber Additives
- Kraton Corporation
- Performance Additives
- Peter Greven
- Lanxess AG has expanded their portfolio of Rhenogran rubber additives by manufacturing reinforced rubber parts along with superior stability and extended service life of the end products, in 2019.
- In 2020, Tecnoflon FKM and PFR FFKM fluoroelastomers as well as technical and problem-solving resources will be distributed in North America by Vanderbilt Chemicals LLC, a new distributor for The Solvay SA.
How much is the Rubber Additives Market worth?
The Rubber Additives Market is worth USD 10.43 Billion by 2028.
Who are the major players operating in this industry?
Arkema S.A., Lanxess AG, BASF SE, Solvay S.A., Sinopec Corporation are the major players operating in this industry.
Which region contributed the largest share of the market growth?
Asia Pacific contributed the largest share of the market growth.
What is the main market-driving factor?
Rapid growth in the Automotive industry and demand for tire as well as rubber products are the major drivers of the market.
Which is the leading type segment in this market?
Antidegradants are anticipated to contribute the largest share to the type segment.
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