Rubber Additives Market worth $9.3 billion by 2026 - Exclusive Report by MarketsandMarkets™

CHICAGO, March 28, 2022 /PRNewswire/ -- According to the new market research report "Rubber Additives Market with Covid-19 Impact Analysis, by Type (Antidegradants, Accelerators), Application (Tire and Non-Tire), and Region (Asia Pacific, North America, Europe, Middle East & Africa, South America) - Global Forecast to 2026", published by MarketsandMarkets™, the Rubber Additives Market is projected to reach USD 9.3 billion by 2026, at a CAGR of 3.5% from USD 7.8 billion in 2021. Rubber is a polymer, which is primarily categorized as natural and synthetic rubber. Natural rubber is obtained from certain trees that are found particularly in the tropical areas. On the other hand, synthetic rubber is obtained by the by-products of petroleum refining. To meet the specific requirements of end-use industries, the rubber has to be treated with chemicals to give it the desired properties. Thus, rubber additives are used to improve properties of the rubber. Rubber is processed using various additives to make it suitable to be used for various applications such as automobile, rubber mats, conveyor belts, and others.

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Antidegradants is the largest type segment of the rubber additives market. Tire was the largest application segment of the rubber additives market. Asia Pacific was the largest market for rubber additives in 2020, in terms of value. The increased demand for superior quality processed rubber from the automotive industry is driving the market for rubber additives in the region. The growing population coupled with the increasing purchasing power of consumers is boosting the demand for automobiles in the region. This in turn drives the market for rubber additives as they are required to enhance the properties of rubber which is used to manufacture automotive tires.

Antidegradants segment is projected to be the fastest-growing type for rubber additives market between 2021 and 2026.

The demand for antidegradants is fueled by the expansion in its applications such as tire and industrial rubber products. These are used to improve the rubber's resistance against the effects of sunlight, oxidation, heat, and mechanical stress. Moreover, they are used to improve the performance and lengthen the service life of rubber products. The market for accelerators is estimated to witness a decent growth due to their increased demand for vulcanizing rubber products. The others segment is estimated to witness slow growth during the forecast period. Processing aids, blowing agents, among others are used to improve the plasticity of rubber.

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Non-tire is projected to be the fastest-growing application in rubber additives market between 2021 and 2026.

Non-tire applications of rubber additives include conveyor belts, footwear, floor tiles, hoses, gaskets, among others. To meet the demand of consumers for durable and high-quality footwear, the brands make use of the finest rubber. Thus, the rubber is processed using the additives to make it suitable to be used for various applications. Rubber is used in the production of conveyor belts, and it is processed using rubber additives to make it efficient for use. Manufacturers in the Asia-Pacific region are focusing on increasing the quality of the conveyor belts to match the quality standards of the European products. The demand is also expected to arise from the Eastern European countries because of the economic development in the region

Asia Pacific is projected to be the fastest-growing region for the rubber additives market during the forecast period.

Asia Pacific is the fastest-growing region in rubber additives market owing to rapid economic growth in the region. The increased demand for superior quality processed rubber from the automotive industry is driving the market for rubber additives in the region. The growing population coupled with the increasing purchasing power of consumers is boosting the demand for automobiles in the region. This in turn drives the market for rubber additives as they are required to enhance the properties of rubber which is used to manufacture automotive tires.

The key market players profiled in the report Arkema S.A.(France), Lanxess AG (Germany), BASF SE (Germany), Solvay S.A. (Belgium), Sinopec Corporation (China), R.T. Vanderbilt Holding Company, Inc. (US), Emery Oleochemicals (US), Behn Meyer Group (Germany), Toray Industries, Inc. (Japan), and Sumitomo Chemical (Japan). They have adopted strategies such as and new product launch, acquisition, and collaboration in order to gain an advantage over their competitors

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