Rockville, April 19, 2023 (GLOBE NEWSWIRE) -- This newly published research report by Fact.MR, a provider of market research and competitive intelligence, reveals that the global rubber vulcanization market is expected to reach a valuation of US$ 4.2 billion by the end of 2033, expanding at a CAGR of 5.3% from 2023 to 2033. Increased demand for the rubber vulcanization process is attributed to the rising consumption of various rubber-based products in the medical and healthcare industry.
Growing demand for numerous rubber products compared to plastic and fiber products is estimated to drive the target market over the forecast period. Rubber vulcanization is a procedure used to improve the properties of synthetic rubber and natural rubber. Vulcanized rubber is more durable, stronger, and resistant to ozone, heat, etc., compared to non-vulcanized rubber. Various industries, including aerospace and automotive, are contributing to the growing demand for vulcanized rubber.
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| Rubber Vulcanization Market Scope | |
| Report Coverage | Details |
| Base year | 2022 |
| Historic period | 2017-2021 |
| Forecast period | 2023-2033 |
| Growth momentum & CAGR | Accelerate at a CAGR of 5.3% |
| Market growth 2023-2033 | US$ 4.2 Billion |
| Market structure | Fragmented |
| Regional analysis | North America, Europe, APAC, South America, and Middle East and Africa |
| Key countries | US, Canada, UK, France, and Germany |
| Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
| Key companies profiled | Arkema SA, LANXESS, BASF SE, Eastman Chemical Company, Willing New Materials Technology Co. Ltd., Sumitomo Chemical Co. Ltd., King Industries Inc., Kumho Petrochemical |
| Market dynamics | Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Takeaways from Market Study
- Worldwide demand for vulcanized rubber is valued at US$ 2.5 billion in 2023.
- The global rubber vulcanization market is forecasted to advance at a CAGR of 5.3% from 2023 to 2033.
- The valuation of the market is projected to reach US$ 4.2 billion by the end of 2033.
- Asia Pacific held 60.1% share of the global market in 2022.
“Growing demand for effective rubber products in various end-use industries, including industrial, automotive, medical, and consumer goods, is generating lucrative opportunities for market players,” says a Fact.MR analyst.
Bolstering Demand for Vulcanized Rubber from Tire Manufacturing Industry
Demand for vulcanized rubber is predicted to increase over the coming years due to the rising manufacturing of tires around the world owing to the noteworthy growth in the automobile industry. Moreover, the growing application of vulcanized rubber is attributed to its mechanical properties, which is boosting its sales in the target market.
Implementation of Stringent Rules & Regulations Hindering Market Growth Opportunities
Regulating and governing bodies impose stringent rules and regulations against the process of rubber vulcanization. These regulations are imposed due to hazardous impacts associated with the vulcanization process and therefore adversely impact the expansion of the market.
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Asia Pacific Accounts for Noteworthy Share of Global Market Revenue
Asia Pacific held 60.1% of global market revenue in 2022. The region is predicted to continue its dominance during the assessment period from 2023 to 2033 due to the rising automotive production across prominent regional countries, including Japan, India, and Indonesia. Growing rubber consumption from tire manufacturers is anticipated to boost market growth over the coming 10 years.
Competitive Landscape
Key suppliers of vulcanized rubber are investing huge amounts of money in R&D activities. They are concentrating on strengthening their supply chain management systems and offering quality products to customers. Manufacturers of vulcanized rubber are putting efforts to follow guidelines set by governing bodies to cause minimal environmental impacts during the vulcanization process.
New developments and product launches are some prominent strategies adopted by industry players to expand their footprints across the globe over the coming 10 years.
For instance,
- In March 2022, Shin-Etsu Chemical came up with a unique one-component liquid silicone rubber product, which is better and safer for the vulcanization process.
Winning Strategies
Key players in the global market are involved in mergers, acquisitions, and other strategies to expand their footprints across the globe.
For instance,
- In October 2022, Celanese proposed the acquisition of DuPont’s engineering polymer unit, which was granted conditional approval by the European Commission. This acquisition included the mobility and material business of the company worth 11 billion euros.
Segmentation of Rubber Vulcanization Industry Research
- By Type:
- Vulcanizing Agents
- Accelerators
- Activators
- By Technique:
- Sulfur Vulcanization
- Other Curing Techniques
- By Application:
- Industrial
- Consumer Goods
- Automotive & Transportation
- Healthcare
- Others
- By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the rubber vulcanization market, presenting historical demand data from 2018 to 2022 and forecast statistics for the period from 2023 to 2033.
The study divulges essential insights into the market based on type (vulcanizing agents, accelerators, activators), technique (sulfur vulcanization, other curing techniques), and application (industrial, consumer goods, automotive & transportation, healthcare, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
Key Questions Covered in the Rubber Vulcanization Market Report
- What will be the estimated size of the Market in 2023?
- At what rate will the global Rubber Vulcanization sales grow until 2033?
- Which are the factors hampering the Rubber Vulcanization demand?
- Which region will spearhead the growth in the global industry during 2023-2033?
- Which are the factors driving sales in the Rubber Vulcanization Market during the forecast period?
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