PRESS RELEASE
Published May 21, 2023
Sales of rubber processing chemicals were valued at US$ 5.15 Billion in FY 2022, and is likely to exhibit a Y-o-Y expansion rate of 3.1% to reach US$ 5.31 Billion in 2022. Overall, the market is forecast to register a CAGR of over 3%.
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Key Takeaways of Rubber Processing Chemicals Market
- The global rubber processing chemicals market refers to the market for chemicals used in the processing and manufacturing of rubber products.
- The market has been experiencing steady growth due to the increasing demand for rubber products in various industries, such as automotive, construction, and industrial manufacturing.
- The key drivers of the market include the growth of the automotive industry, which is a major consumer of rubber products, the expansion of the construction sector, and the rising demand for high-performance rubber in industrial applications.
- Rubber processing chemicals are used to improve the processing and performance characteristics of rubber compounds. They include accelerators, antioxidants, processing aids, antiozonants, and vulcanizing agents, among others.
- Accelerators are the largest product segment in the rubber processing chemicals market, as they help to speed up the vulcanization process and enhance the physical properties of rubber.
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Competitive Landscape
To expand their market footprints, prominent rubber processing chemical manufacturers use new product launches, R&D activities, collaborations, mergers, and acquisitions, as well as collaborations, mergers, and acquisitions.
- BASF invested 16 Million Euros in Pyrum Innovations Inc., which specializes in pyrolysis of waste tires, in October 2020. The oil from the waste tires will be extracted and used to manufacture new products by the company.
- Eastman Chemical Company completed the de-bottlenecking of its St. Gabriel Diethyl hydroxylamine (DEHA) production facility in June 2019. DEHA is primarily used in the manufacture of styrene-butadiene rubber (SBR), and the new development is expected to meet the growing needs of customers in the western hemisphere.
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
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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
Key Questions Covered in the Rubber Processing Chemicals Market Report
- What is the projected value of the Rubber Processing Chemicals factors Industry in 2022?
- At what rate will the global Rubber Processing Chemicals factors market size grow until 2032?
- Which are the factors hampering the growth of Rubber Processing Chemicals factors?
- Which region is expected to lead in the global Rubber Processing Chemicals factors market By 2032?
- Which are the factors driving the Rubber Processing Chemicals factors Industry during the forecast period?
- What is the expected market value of the Rubber Processing Chemicals factors market during the forecast period?
Regional Analysis For Rubber Processing Chemicals Market:
- APAC (Japan, China, South Korea, Australia, India, and the rest of APAC; the rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
- Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
- North America (USA, Canada and Mexico)
- South America (Brazil, Chile, Argentina, Rest of South America)
- MEA (Saudi Arabia, United Arab Emirates, South Africa)
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This Press Release has been written with the intention of providing accurate market information which will enable our readers to make informed strategic investment decisions. If you notice any problem with this content, please feel free to reach us on [email protected]
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