About Rubber Chemicals
The global rubber chemicals market witness to growing owing to rising development in the tire and automotive industry. Rubber chemicals are most commonly used in the production of various rubber products. Rubber Chemicals are added during production to affect a product's elasticity, durability, strength, hardness, flexibility, and resistance to wear. Substantial growth in demand for green, fuel-efficient tires, high-performance, in emerging countries is triggered the market for rubber chemicals. There are various applications of rubber chemicals in medical, electric, aerospace, and electronics, and construction industries are also anticipated to further augment the demand.
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Billion) |
CAGR | 4.12% |
The rubber chemicals market appears to be highly fragmented. Strategic alliances, extensive R & D for the long term, efficient product creation, and the adoption of new technologies are just a few of the market participants' operating strategies. Furthermore, R & D for bio-based rubber chemicals has gained significant traction in recent years as a result of shifting end-user perspectives and favourable regulatory mandates.The Vendors having a strong hold in the market are BASF, Solvay, Kumho Petrochemicals, Eastman Chemical Company, and AkzoNobel. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Rubber Chemicals market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
BASF S.E. (Germany), Solvay S.A. (Belgium), Kumho Petrochemicals Co. Ltd. (South Korea), Eastman Chemical Company (United States), AkzoNobel N.V. (Netherlands), Emerald Performance Materials L.L.C. (United States), Linkwell Rubber Chemicals Co. Ltd. (China), Sumitomo Chemicals Co. Ltd. (Japan), Akrochem Corporation (United States) and Chemours Company (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are RT Venderbilt Holding Co. Inc. (United States), Merchem Ltd. (India) and Pukhraj Additives L.L.P. (India).
Segmentation Overview
AMA Research has segmented the market of Global Rubber Chemicals market by Type (Anti-degradants, Accelerators (Primary, Secondary), Flame Retardants, Processing Aid/ Promoters (Release Agents, Curing & Blowing Agents, Others) and Others), Application (Tire and Non-Tire) and Region.
On the basis of Type, Accelerators are dominating the market in the year 2021On the basis of geography, the market of Rubber Chemicals has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. OEM's will boost the Rubber Chemicals market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
On 16th March 2022, Kraton Corporation announced the completion of the merger through which DL Chemical Co., Ltd. (DL Chemical) acquired Kraton.The merger allows Kraton to strengthen its global presence by leveraging DL Chemical's manufacturing capabilities and Asian market footprint, as well as its financial strength, allowing Kraton to invest in industry-leading sustainable innovation. The merger also accelerates DL Chemical's and Kraton's goals of becoming global leaders in specialty chemicals.
On 11th January 2022, The newly opened facility will allow exporters to conduct independent third-party testing of rubber products for compliance with European Union regulations, as well as allow manufacturers in the MSME (micro, small, and medium enterprise) sector to design product formulations.
Strict government regulations governing the use of rubber chemicals are likely to limit market growth. Furthermore, rubber processing chemicals are hazardous to the environment and aquatic life, as the majority of them are discharged into bodies of water, impeding market growth. Furthermore, the EPA and European Commission have imposed strict rules for the use and disposal of these chemicals, stifling market growth.
Market Drivers
- Upsurging Uses of Rubber Chemicals in Tire Industry
- Growing Automobile Traffic across the Globe led to Increased Demand for Tires
Opportunities
- Increasing Demand for Synthetic Industrial Rubber across the Emerging Economies
- Escalating Research and Development Investments in Rubber and Tire Industry
Restraints
- Stringent Government Regulations on the Rubber Industry Especially in Rubber Chemicals
- Increasing Raw Material Prices and Supply Demand Volatility
Challenges
- Increasing Availability of Numerous Rubber Substitutes in Industrial Applications
- Growing Distribution Overheads across the Global Market
Key Target Audience
Rubber Chemical Manufacturers, Rubber Chemical Distributors and Suppliers, Upstream and Downstream Buyers, Rubber Chemical International Traders, Research and Development Institutes, Government Agencies, Tire Manufacturers, Industry Associations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.