Rubber Processing Chemicals Market Size, Share, Scope and Forecast 2032

 Sales of rubber processing chemicals were valued at US$ 5.15 billion in 2022 and are projected to grow at a year-on-year (Y-o-Y) rate of 3.1%, reaching US$ 5.31 billion by the end of the year. Over the long term, the market is expected to expand at a CAGR of over 3%.

Between 2015 and 2021, rubber processing chemical sales grew at a CAGR of more than 2%, driven largely by demand in automotive tire manufacturing. The market surpassed the US$ 5 billion mark at the beginning of the historical period, reflecting steady growth in industrial applications. As the automotive and industrial sectors continue to expand, demand for rubber processing chemicals is likely to follow suit.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.factmr.com/connectus/sample?flag=S&rep_id=6401 

Country-wise Analysis

Over the past decade, China's demand for rubber processing chemicals has surged significantly, with production and demand expected to continue rising. Sales of rubber processing chemicals in China are projected to grow at a rate of over 5%, reaching more than US$ 1 billion by 2022. This growth is driven by the rapid expansion of China's chemical industry and the booming automotive aftermarket, fueled by increasing automobile sales.

According to the International Council of Chemical Associations (ICCA), China's chemical industry became one of its key manufacturing sectors in 2019. A BASF study further indicates that chemical production in China is expected to grow by 6.3% through 2021 and beyond, highlighting the country's dominance in the global chemical landscape.

Category-wise Insights

According to Fact.MR's forecast, flame retardant sales are projected to grow at a CAGR of over 3% between 2022 and 2032. This increase is largely attributed to the rising need for solutions that prevent automotive tires from overheating during motion.

In addition to automotive applications, flame retardants are widely used in other rubber processing sectors, such as silicone rubber production, wire and cable manufacturing, roofing, and belt manufacturing. Companies like Huber offer a broad range of halogen-free flame and smoke retardants, catering to these diverse rubber processing applications, further driving demand in the market.

𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

  • BASF SE
  • Arkema Group
  • Behn Meyer Holding AG
  • China Petroleum & Chemical Corporation (SINOPEC)
  • Eastman Chemical Company
  • Emerald Kalama Chemical LLC
  • Emery Oleochemicals Group
  • Kumho Petrochemical Co. Ltd. (KKPC)
  • LANXESS AG
  • Merchem Limited
  • Sinochem Group Co. Ltd.

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞: https://www.factmr.com/report/rubber-processing-chemicals-market 

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞:

Prominent manufacturers in the rubber processing chemicals industry are employing various strategies such as new product launches, extensive research and development (R&D) activities, collaborations, mergers, and acquisitions to bolster their market presence.

In October 2020, BASF made a significant investment of 16 million Euros in Pyrum Innovations Inc., specializing in waste tire pyrolysis. This strategic move aims to extract oil from waste tires for the production of new products, thereby expanding BASF's offerings.

Eastman Chemical Company completed the de-bottlenecking of its St. Gabriel Diethyl hydroxylamine (DEHA) production facility in June 2019. DEHA is a crucial component in the manufacturing of styrene-butadiene rubber (SBR), and this enhancement is geared towards meeting the escalating demands of customers in the western hemisphere.

Furthermore, in June 2021, Eastman Chemical Company unveiled plans to divest its rubber additives business, encompassing CrystexTM insoluble sulfur and SantoflexTM anti-degradants, to an affiliate of One Rock Capital Partners LLC for a staggering US$ 800 million. This strategic decision aims to streamline Eastman's Additives & Functional Products business.

Key Segments Covered in Market Study

  • By Product :
    • Anti-Degradant 
    • Accelerators
    • Rubber Flame Retardant Chemicals
    • Aids/Promoters
    • OtherS
  • By Application :
    • Tire Applications
    • Non-Tire Applications
  • By Regions :
    • North America 
    • Latin America 
    • Europe 
    • East Asia 
    • South Asia 
    • Oceania 
    • Middle East & Africa 

𝐂𝐨𝐧𝐭𝐚𝐜𝐭:

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