According to the report, global rubber processing chemicals market was valued at over USD 3.71 billion in 2015, is expected to reach above USD 5.10 billion in 2021 and is anticipated to grow at a CAGR of slightly above 5.2% between 2016 and 2021.
Rubbers also known as elastomers are the polymers with elastic and deformation properties. Rubber processing is the technique of processing the rubber to finished products by using various steps such as compounding, mixing, vulcanizing and shaping. About 70% of the rubber products present in the market utilizes synthetic rubber.
Rubber processing chemicals enhance the rubber properties in terms of heat resistance, water, and mechanical stress resistance. Therefore, rubber processing chemicals find applications in various industries such as in rubber and automobile industries which are expected to drive the market growth of rubber processing chemicals in the coming years. Rubber based products such as tire, mats, hoses, floor, gloves and belts are highly consumed across the globe. This has led to the high growth of rubber industry in turn exhibiting growth of rubber processing chemicals market in the coming years. Stringent regulations imposed by the governing bodies on harmful emissions exhaled out during rubber processing may hinder the rubber processing chemical market growth in the forecast period. Nevertheless, increasing demand for bio-based rubber along with growing demand for rubber processing chemicals from the emerging countries is likely to open the new avenue for rubber processing chemicals market in the coming years.
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On the basis of types, the rubber processing chemicals market can be segmented as flame retardants, anti-degradants, processing aid and accelerators. Anti- degradants emerged as the potent segment among all in 2015 owing to its extensive properties when mixed with accelerators for obtaining high tensile strength, better finishing. Anti- degradants are generally blended with accelerators during vulcanization process. Numerous applications of rubber processing chemicals are non tire and tire. The tire was the major segment with the highest percentage of market share in 2015. Mostly tire is used in automobile industry. This factor has led to the increase in demand for the tire which in turn is expected to drive the demand for rubber processing chemicals market in the near future.
Asia-Pacific is expected to witness predominant growth for the rubber processing chemicals within the forecast period. China accounted for the largest share of the rubber processing chemical market due to the presence of huge consumers for rubber processing chemicals in this region. Also, growing rubber industry in China is likely to trigger the demand for rubber processing chemical market owing to the high use of rubber processing chemicals in the rubber industry. Europe was the second largest market for rubber processing chemicals followed by North America in 2015. This was mainly due to high demand for rubber processing chemicals from the automobile industry. However, various stringent rules led by the governing bodies are likely to impact the growth of rubber processing chemicals market in North America. Latin America is anticipated to show decent growth over the coming years owing to growing rubber industry in Brazil. The Middle East and Africa are likely to exhibit lucrative growth in the forecast period.
Some of the global major players in the rubber processing chemicals are R.T. Vanderbilt Company, Inc, Emerald Performance Materials, LANXESS Corporation, Chemtura Corporation, Solvay SA, Eastman Chemical Company, Emery Oleochemicals Llc, Behn Meyer Group, Akzonobel N.V, China Petroleum & Chemical Corporation.