NEW YORK, March 23, 2016 /PRNewswire/ -- Rubber processing chemicals market to reach USD 4.8 billion by 2020
The global market of rubber processing chemicals is projected to reach USD 4.8 billion by 2020 witnessing a CAGR of 5.4% between 2015 and 2020. Rubber processing chemicals will witness a steady growth between 2015 and 2020 driven by increasing demand for efficient and high quality chemicals for processing rubber.
Tire application to dominate the market among all applications
Tire application will hold the largest market size among all the applications and is estimated to account for market share of 56.6% in 2020. The demand for rubber processing chemicals from the tire segment is expected witness high growth due to growing automobile industry and increasing purchasing power of consumers.
Asia-Pacific to dominate the global rubber processing chemicals market
Asia-Pacific is expected to continue to be dominant region by 2020. Owing to the increasing demand from automotive industry coupled with industries demanding high quality rubber processing chemicals for tire and non-tire industry in China and India.
The primary interviews were conducted to gather the market insights from industry experts in rubber processing chemicals market across small, mid and large size companies present in different regions of the world.
The breakdown of primary interviews is as given below
- By Company Type - Tier 1 – 37 %, Tier 2 – 50% and Tier 3 – 13%
- By Designation – C level – 50%, Director level – 31%, Others – 19%
- By Region – North America - 31%, Europe – 38%, APAC – 25%, RoW – 6%
This report also identifies market dynamics, such as drivers, restraints, and opportunities. The major companies involved in this market such as Emerald Performance Materials (U.S.), Eastman Chemical (U.S.), Lanxess Corporation (Germany), and Arkema SA (France) and others have been comprehensively profiled in this report.
Reasons to buy this report:
- Detailed analysis and forecast in terms of volume and value provided for various applications, such as tire and non-tire
- Detailed and comprehensive competitive landscape of top market players will provide insights about various growth strategies of various companies in rubber processing chemicals market
- The various market drivers, restraints and opportunities have been discussed in detail in this report.
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