Anti-degradant rubber processing chemical Sales to Reach USD 3 Billion by 2031; Demand of Rubber Processing Chemicals to Pick Up At 3% CAGR - Fact.MR Analysis

Rubber Processing Chemicals Market Share & Trends Analysis, By Product (Anti-Degradant Rubber Processing Chemicals, Rubber Processing Accelerators), By Application (Rubber Processing Chemicals for Tire Applications) & By Region Forecast, 2021-2031


ROCKVILLE, Md., March 22, 2022 (GLOBE NEWSWIRE) -- Fact.MR’s global rubber processing chemicals market report forecasts a moderate outlook, anticipating a CAGR of approximately 3% to reach nearly US$ 6 Bn by the end of the 2021-2031 forecast period. Uptake is most likely expected across the automotive tire manufacturing sector, attributed to swelling vehicle ownership, both, commercial and private.

Despite retaining a positive trajectory, growth was sluggish during the historical period. According to Fact.MR’s report, sales of rubber processing chemicals expanded at just above 2% CAGR. This is largely ascribed to a general slowdown in the global automotive industry. In addition, COVID-19-induced depression across major industrial verticals further slowed down market growth, leading the market to close in at approximately US$ 5 Bn in 2020.

Fortunately, prospects are expected to rebound, as several countries resume industrial production activities amid flattening infection curves. Prominent manufacturers are expected to find renewed growth opportunities in the synthetic rubbers domain. Owing to structural superiority in comparison with natural rubber, synthetic rubbers are fast making inroads across major industries, prompting chemical companies to focus on synthetic rubber processing chemicals.

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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.

Key Segments Covered in Market Study
Product

  • Anti-Degradant Rubber Processing Chemicals
  • Rubber Processing Accelerators
  • Rubber Flame Retardant Chemicals
  • Rubber Processing Aids/Promoters
  • Other Rubber Processing Chemical Products

Application

  • Rubber Processing Chemicals for Tire Applications
  • Rubber Processing Chemicals for Non-Tire Applications

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Competitive Scenario
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), and Sinochem Group Co. Ltd. are prominent rubber processing chemical manufacturers profiled in Fact.MR’s report.

  • In March 2019, Emerald Kalama Chemical LLC announced the launch of two new proprietary innovations in its VITROFLEX® benzoate plasticizers A90 and A99, which are used in the A (polymer) side of 2-part polysulfide sealants, ensuring higher performance.
  • In May 2021, Behn Meyer Holding AG companies operating across Thailand acquired the ISO 14001: 2015 certification for their impressive environmental management systems (EMS). These include its chemicals and agribusiness units.

Key Companies Profiled

  • 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.

Category-wise Insights
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.

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Key Takeaways from Market Study

  • Demand for flame retardants in rubber processing to incline at a CAGR exceeding 3%
  • Anti-degradant rubber processing chemical sales to reach nearly US$ 3 Bn by 2031
  • By application, tire manufacturing to account for over 40% rubber processing chemical demand
  • Sales across the U.S. surpassed US$ 1 Bn in 2020, nudged by applications across synthetic rubber manufacturing
  • Robust chemical industry growth to heighten sales across China, poised to expand at over 5% CAGR
  • India, Australia, and South Korea to contribute a total of over US$ 800 Mn by 2031

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