ALBANY, New York, March 8, 2017 /PRNewswire/ --
Transparency Market Research has published a new report titled "Rubber Processing Chemicals Market by Type (Antidegradants, Accelerators, Stabilizers, Vulcanizing Agents, and Others) for Tire and Non-tire Applications - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016-2024" According to the report, the global rubber processing chemicals market was valued at US$ 3,420.1 Mn in 2015 and is anticipated to reach US$ 5,159.6 Mn by 2024, expanding at a CAGR of 4.7% between 2016 and 2024.
In terms of type, rubber processing chemicals market has been segmented into antidegradants, accelerators, stabilizers, vulcanizing agents, and others. Antidegradants are used to counter the effect of degradation and provide strength and durability to rubber products. Vulcanizing agents are chemicals that are used for chemical crosslinking of rubber. These help convert rubber into more durable and economically viable material. Accelerators are mainly used to fasten the vulcanization process by aiding the process to occur in low temperatures. They are used to decrease the quantity of vulcanization agents to be used for the process of crosslinking, additionally providing efficiency and durability to the vulcanized products. Other chemicals such as processing aids are used to increase molding and plasticity properties of the rubber. As natural rubber have inherently low plasticity properties and provide difficulty in molding, thus loads of processing aids are required to impart the specific characteristic.
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Rubber processing chemicals are primarily classified based on application into tire and non-tire segment. In terms of revenue, tire segment held substantial share of application segment of rubber processing chemicals in 2015 and the trend is likely to continue during forecasted period. Production of tires entails synthetic or natural rubber along with carbon black and various other chemicals Rise in population and increase in purchasing powers of consumers are anticipated to drive the automobile industry. Rubber processing chemicals play a crucial role in enhancing the properties of rubber for its usage in the production of automotive tires. Thus, expansion in the automotive industry is estimated to boost the demand for rubber processing chemicals during the forecast period. Rubber processing chemicals are employed in various other applications such as manufacture of non-tire automotive parts, building & construction, electric & electronics, medical, aerospace, polymer modification, and footwear production. Thus, growth in these industry is projected to propel the rubber processing chemicals market. Increase in number of environmental regulations regarding the production of rubber can hamper market growth.
In terms of volume and revenue, Asia Pacific held significant share of the rubber processing chemicals market in 2015 and this trend is likely to continue during the forecasted period. Increasing consumer buying power coupled with the easy availability of raw material are the factors propelling the growth of this market in the region of Asia Pacific. Europe and North America held a promising share of this market in 2015 and is anticipated to offer sluggish growth as they are mature market and high competitive land scape. Latin America hold a small share of rubber processing chemical which is expected to offer steady growth due to the increased usage of rubber products in industrial applications and in building & construction.
The report offers a comprehensive view of the rubber processing chemicals market in terms of volume and revenue. It includes current demand analysis and forecast for type and application segments in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Moreover, the report provides thorough country-wise analysis of the rubber processing chemicals market in the aforementioned regions.
The rubber processing chemicals market has been divided into the following segments:
Rubber Processing Chemicals Market - Type Analysis
- Vulcanizing Agents
Rubber Processing Chemicals Market - Application Analysis
- Building & Construction
- Others (include medical, aerospace, footwear etc.)
Rubber Processing Chemicals Market - Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific (APAC)
- Latin America
- Rest of Latin America (LATAM)
- Middle East & Africa
- South Africa
Rest of Middle East & Africa (MEA)
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