The rubber processing chemicals market experienced slow growth in 2020, closing in at just over US$ 5 Bn, attributed to recessionary impacts induced by the COVID-19 pandemic. A new forecast by Fact.MR estimates that rubber processing chemical revenue will expand 1.2X from 2021 to 2031, reaching close to US$ 6 Bn at a 10-year CAGR of nearly 3%.
Key Points Covered in Rubber Processing Chemicals Industry Analysis:
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand Share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Rubber Processing Chemicals and How to Navigate
- Recommendation on Key Winning Strategies
Rubber Processing Chemicals Market Insights: Historical Growth from 2016-2020 Vs Future Trends for 2021-2031
From 2016 to 2020, sales of rubber processing chemicals expanded at just over 2% CAGR, with applications being primarily centered on automotive tire manufacturing applications. Further rubber processing chemicals industry research reveals that the market surpassed US$ 4 Bn at the commencement of the historical period.
Sales prospects were revised amid the COVID-19 pandemic, closing in at almost US$ 5 Bn as of 2020. Mandatory lockdowns imposed to curb infection spread led to stagnant industrial output, which was compounded by a significantly sluggish automotive industry performance in the historical period. Revised estimates of rubber procession chemicals demand outlook has pegged the forecast CAGR to nearly 3% from 2021-2031.
How is Flourishing Automotive Industry Nudging Sales of Rubber Processing Chemicals?
With rapid urbanization, automotive ownership is inclining impressively across all regions. Consequently, sales of automotive tires which offer superior road grip, enhanced abrasion resistance, reduced friction and better elasticity is also mushrooming. Hence, uptake of specialty chemicals to impart these features is inclining.
Due to rising demand for both commercial and private vehicles, rubber processing sales forecast appears bright especially across the developing world. Potential markets such as India, China, Japan and other East Asian and South Asian countries are expected to be the most opportunistic.
Will Increasing Utilization of Synthetic Rubber Products Act as Key Growth Opportunity?
According to Fact.MR’s rubber processing chemicals industry research, increasing reliance on styrene-butadiene, nitrile and neoprene synthetic rubbers is increasing substantially. This extensive reliance is generating significant growth opportunities for rubber processing chemicals sales in the forthcoming decade.
Synthetic rubber exhibits greater durability and longevity compared to natural rubber. It possesses enhanced resistance to damage and degradation from chemicals, extreme temperatures, ozone, sunlight and weathering. Additionally, it is highly flexible and has high insulation properties.
Key end-use industries, such as construction, aerospace, electronics and automotive are extensively deploying synthetic rubber, prompting players to manufacture processing chemicals for the same.
What Does Analysis of Rubber Processing Chemical Demand for the U.S. Conclude?
The market for rubber processing chemicals in the U.S topped US$ 1 Bn in 2020, amid extensive uptake across the automotive industry. As vehicle ownership increases, consumers are spending on tire maintenance so as to improve automobile performance through reduced abrasion resistance and superior road grip.
Moreover, manufacturers are incorporating synthetic rubber, owing to their ability to adhere to metals, making it an excellent option for rubber gaskets, seals, tires and other products. Hence, processing chemicals for synthetic rubber is experiencing considerable incline.
How is China Likely to Generate Growth Opportunities for Rubber Processing Chemical Suppliers?
Sales of rubber processing chemicals in China are slated to expand at over 5% CAGR to be valued at above US$ 1 Bn by 2031. Growth is being spurred by extensive development of the Chinese chemical industry, as well as a swelling automotive aftermarket in the wake of surging automobile sales.
The International Council of Chemical Associations (ICCA) estimates that in 2019, the chemical industry in China emerged as one of its primary manufacturing industries, while a study conducted by BASF concludes that chemical production is likely to rise by 6.3% through 2021 and beyond.
Consequently, government policies are being modeled to accommodate entry of prominent rubber processing chemical manufacturers, which will lead to significant expansion of the market in the future.
Will Demand for Rubber Flame Retardants Remain Elevated in the Long Run?
Fact.MR’s rubber processing chemicals demand outlook expects sales of flame retardants to record a CAGR exceeding 3% across the 2021-2031 forecast period. Sales are likely to surge amid rising need to prevent overheating of automotive tires while in motion.
Furthermore, applications abound across other rubber processing areas, including silicone rubber production, wire and cable manufacturing, roofing and mine belting. Players such as Huber offer a wide range of halogen-free flame and smoke retardants for rubber processing applications.
Why is Rubber Processing Chemicals Sales Forecast Promising in Tire Manufacturing?
By application, demand for rubber processing chemicals in tire manufacturing is inclining massively, accounting for over 40% of global demand by 2031. Increased demand for enhanced abrasion resistance, superior road grip and high load bearing capacity are driving demand.
Demand for antioxidants, anti-ozonants and curing systems are expected to be the primary cash cows, as these are extensively incorporated to prevent excessive wear and tear of rubber tires. For instance, Brenntag SE offers the AMINOX® and BLE® 65 stabilizers among others.
New product launches, emphasis on R&D activities to augment production capacities, and collaborations, mergers, and acquisitions are core strategies adopted by prominent rubber processing chemical manufacturers to enhance their market footprints.
- BASF SE, a prominent manufacturer, offers the Koresin® rubber tackifier which is suitable for application in the production of quality and premium tires for cars, trucks, special vehicles, OEMs and replacement & re-treading operations in the automotive industry.
- In June 2021, Eastman Chemical Company announced its plans to divest its rubber additives business to an affiliate of One Rock Capital Partners LLC, including the CrystexTM insoluble sulfur and SantoflexTM anti-degradants for a sum of US$ 800 Mn to streamline its Additives & Functional Products business.
Historical Data Available for
US$ Mn for Value & ‘000 Units for Volume
Key Regions Covered
Key Countries Covered
Key Market Segments Covered
Key Companies Profiled
Available upon Request
Key Segments Covered in Market Study
- Anti-Degradant Rubber Processing Chemicals
- Rubber Processing Accelerators
- Rubber Flame Retardant Chemicals
- Rubber Processing Aids/Promoters
- Other Rubber Processing Chemical Products
- Rubber Processing Chemicals for Tire Applications
- Rubber Processing Chemicals for Non-Tire Applications
Rubber Processing Chemicals Market- Scope of Report
A recent study by Fact.MR on the rubber processing chemicals market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering rubber processing chemicals.
The study also provides the dynamics responsible for influencing the future status of the rubber processing chemicals market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.
A list of prominent companies manufacturing rubber processing chemicals, along with their product portfolios, enhances the reliability of this comprehensive research study.
The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of rubber processing chemicals across the globe.
A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of rubber processing chemicals during the forecast period. Price point comparison by region with global average price is also considered in the study.
Key Questions Answered in Report
- Which are the most lucrative markets for rubber processing chemicals?
- Which factors will impact the growth of rubber processing chemicals?
- How will changing trends impact the strategies of market players?
- How can market players capture the low-hanging opportunities across regions?
- Which companies are leading the rubber processing chemicals industry?
- What are the winning strategies of stakeholders in the market?
Analysis on Market Size Evaluation
The market has been analyzed for each segment in terms of volume (‘000 Units) and value (US$ Mn).
Estimates at global and regional levels for rubber processing chemicals are available in terms of “US$ Mn” for value and in “‘000 Units” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global rubber processing chemicals market.
Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the rubber processing chemicals during the forecast period.
Country-specific valuation on demand for rubber processing chemicals has been offered for each region, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value and volume for emerging countries has also been included in the report.
In-depth Analysis on Competition Analysis
The report sheds light on leading manufacturers of rubber processing chemicals, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering rubber processing chemicals has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.
Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the rubber processing chemicals domain.
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the rubber processing chemicals industry, and reach conclusions on the future growth parameters. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.
Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.
- FAQs -
The global rubber processing chemicals market is valued at around US$ 5 Bn.
Demand for rubber processing chemicals is expected to surge at nearly 3% CAGR through 2031, reaching US$ 6 Bn.
From 2016 to 2020, the market for rubber processing chemicals witnessed a CAGR of around 2%.
Extensive applications in automotive tire manufacturing are pivoting bulk of rubber processing chemical uptake.
Heavy reliance on synthetic rubber is expected to present credible expansion opportunities for rubber processing chemical suppliers.
Sales of rubber processing chemicals in the U.S. were valued at over US$ 1 Bn in 2020.
The U.S., Canada, China, Japan, and Germany are driving most sales of rubber processing chemicals.
LANXESS AG, BASF SE, Arkema S.A, and Solvay S.A are some of the top rubber processing chemical producers.
Sales of flame retardants are poised to emerge strongest, expanding at above 3% CAGR.
The market for rubber processing chemicals in China is expected to surpass US$ 1 Bn by 2031, expanding at over 5% CAGR.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
Is a sample of this report available for evaluation?
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