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Growth in the construction sector globally is expected to increase the use of rubber chemical additives, in turn driving the rubber chemical additives market.
HYDERABAD, TELANGANA, INDIA, Feb 8, 2023 / EINPresswire.com/ — IndustryARC, in its latest report, predicts that the rubber chemical additives market size is expected to reach $6.6 billion by 2027 after growing at a CAGR of 4.2% during 2022-2027. Chemical rubber additives are high-performance additive materials used in the production of rubber polymers to improve processability, flexibility and strength. Chemical rubber additives can be accelerators, lubricants, plasticizers and anti-degradants. Rubber chemical additives are widely used in the automotive industry, where it is used in the production of tires, bumper wipers, air bags and various other automotive components. The automobile industry is booming globally with increasing production and sales of vehicles and this is expected to boost the market growth during the forecast period. For example, according to 2021 statistics from the European Association of Automobile Manufacturers, passenger car registrations in the European region increased by 25.2% in the first half of 2021. In addition, chemical additives of rubber find their massive use in the construction sector where they are found. it is used in the production of seals, gaskets, pipes, wiring and many other construction components. The report provides a comprehensive analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players, and more.
Click here for the full report summary:
https://www.industryarc.com/Research/Global-Rubber-Chemical-Additives-Industry-Market-Research-511440
Key Points:
This IndustryARC report on the rubber chemical additives market highlights the following areas:
1. The automotive sector is driving market growth. According to the European Automobile Manufacturers Association’s June 2021 report, passenger car registrations in the European region grew by 53.4% in May 2021 compared to the same period last year.
2. The construction sector is expected to drive market growth during the forecast period. According to the November 2021 report of the Council on Foreign Relations (CFR), the US Congress announced its plan to invest US$1 trillion for the improvement of physical infrastructure such as bridges and roads.
3. The Asia-Pacific region is expected to witness the highest demand for rubber chemical additives due to the boom in the automotive sector in the region. For example, according to data from the China Association of Automobile Manufacturers, the annual sales volume of new energy vehicles in China is expected to reach 3 million units by 2025 compared to 1, 2 million units in 2019.
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Segmental analysis:
1. The tire segment dominated the rubber chemical additives market in 2021 and is expected to grow at a CAGR of 4.7% during the forecast period. A wide spectrum of chemical rubber additives is used massively in the manufacture of tires.
2. The Asia Pacific region accounted for the largest share of the rubber chemical additives market in 2021, up to 34%. The high demand for chemical rubber additives is attributed to the growing automotive sector in the region. Chemical rubber additives are widely used in the automotive sector of the region for the manufacture of various automobile components such as bumpers, seat covers, airbags, etc.
3. The automotive sector dominated the rubber chemical additives market in 2021 and is expected to grow at a CAGR of 5.3% during the forecast period. Chemical rubber additives such as accelerators, lubricants, plasticizers and anti-degradants are used in large quantities in the automotive sector for the manufacture of numerous automotive components such as tires, bumper wipers, carpets, bumpers, among others
Competitive landscape:
Top 5 Rubber Chemical Additives Industry Players are:
1. Solvay SA
2. Emery Oleochemicals GmbH
3. SHIPPING
4. Arkema SA
5. BASF SE
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https://www.industryarc.com/Report/15081/rubber-processing-chemicals-additives-market.html
B. Rubber abrasives market
https://www.industryarc.com/Research/Rubber-Bonded-Abrasives-Market-Research-500378
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