The growing automotive
and construction industry will play a vital role in the growth of the rubber
processing chemicals market while APAC will witness maximum opportunities
through to 2025
With the growth of the
global automotive and aerospace industry, the tires and tubes market is making
strides worldwide, which is creating a demand influx for rubber. On the other
hand, the healthcare industry is creating opportunities for the rubber industry,
because it is used in medical devices and wearable such as hand gloves. The
mining industry also creates prospects for the rubber industry as it is a
primary material used in conveyor belts. Furthermore, the oil & gas
industry is a hefty consumer of rubber, because of its usage in making gaskets,
seals, brushes, O-ring, tubes, and articles thereof. Rubber is a prominent
product used for playground surfacing as it induces aesthetics and safety. The
rapid urbanization is creating an economic boom across the globe, and it has
been spurring a gamut of the industry that also includes rubber and its
products. Apart from the aforementioned end-use industries, the defense,
agriculture, power generation, and textile industries are also considerable
consumers of rubber and its products. The construction industry also happens to
be a massive consumer of rubber as it is prevalently used for mounting,
sheeting, and flooring. Predominantly due to the expansion of the construction
and automotive industries, the rubber industry is poised to flourish, and
subsequently, the rubber processing chemicals (additives) market is going to
gain significant traction. This is because rubber processing chemicals such as
accelerators, activators, vulcanizing agents, anti-degradants, and stabilizers
play an indispensable role in the production of rubber. The Rubber Processing Chemicals Market was evaluated at $4 billion in 2018, and the demand for these
additives is going to increase at a CAGR 4.3% during the forecast period
2019-2025.
The growth prospects in
the rubber processing additives market can be understood by the increasing
trade of rubber worldwide, which is making a direct impact on the associated
markets. In 2018, the trade value of rubber and articles thereof was gauged to
be $198.12 trillion, according to the findings by the International Trade
Centre (ITC). The rubber industry is observing a moderate yet steady growth
since 2014 at a CAGR of 1%. However, the year 2017-2018 witnessed a slight
increment in growth, which was measured to be 3%. This
is the main reason attributable to the growth of the rubber processing
additives market.
The Future of the
Booming Rubber Processing Chemicals Market in APAC –
In 2018, APAC offered
maximum opportunities to the rubber processing chemicals market players, and
the region had a substantial share of 49%. The growth of the automotive and
construction industries along with a demand influx from the mining and
agriculture industries of China, India, Japan, Indonesia, and other emerging
economies are attributed as the major causes of the impressive APAC rubber
processing additives market size. The market is poised to witness growth in the
future; something which can be further fathomed by the following facts –
· The Demand of
Rubber from the China Automotive Industry Creating a Stir in the Rubber
Processing Additives Market –
The China automotive industry boasts of being
the world’s largest vehicle market with sales of over 28 million units in 2016,
according to the findings by the International Trade Administration (ITA).
Furthermore, the Chinese government anticipates the production to reach 30
million units by 2020 and 35 million by 2025. This
growth in the production of vehicles in China will imbue a perceptible demand
for rubber in order to manufacture tires and tubes. The demand influx for tire
and tubes will create revenue sources for the vendors in the APAC rubber
processing chemicals market.
· The China
Construction Industry to Speed Up the Sales in the Rubber Processing Chemicals
Market –
According to the State Council of China, the
value-added output of China’s construction industry is growing, and the figure
translated to $816.6 billion in 2017 with 16.6% annual growth rate and 6.7%
contribution to the country’s GDP. Additionally,
the Global Construction Perspective and Oxford Economics projected that the
growth of the global construction industry, which is poised to breach $8
trillion by 2030, will be majorly driven by China, India, and the US. The
growing Chinese construction industry will create a requirement for rubber
hose, belt, rollers, mountings, and other rubber materials that are an integral
part of the construction projects. This augmented demand for rubber products
from the Chinese construction industry will create lucrative opportunities in
the rubber processing additives market.
· The Burgeoning
Mining Activities in India Driving the APAC Rubber Processing Additives Market
–
The mining industry in India is witnessing
continuous growth, and the Ministry of Steel, Government of India envisions to
catapult the steel production capacity to 300 million tons by 2030-31,
according to the findings by India Brand Equity Foundation (IBEF). This will
further drive the Indian mining industry during the forecast period, and it
will reflect in enhanced sales in the conveyor belts
market in India. The production of conveyor belts will require
rubber, which will create a demand influx in the rubber processing chemicals
market.
· Indian
Agricultural Sector: A Flourishing Rubber Marketplace Leading to A Demand for
Rubber Processing Additives
The rising population in the urban and rural
areas is driving a definite demand in the Indian agriculture sector. Other
factors such as the country’s economic growth, diverse agro-climatic
conditions, and rising initiatives by the government towards farmer’s welfare
are leading to an increase in the agricultural sector revenues. Agricultural
sector utilizes rubber mainly for tires, which are used for a gamut of chores
such as gardening, moving, terrain vehicles, snow groomers, and others. This is
further driving the rubber processing chemicals market.
· India, Malaysia,
and Indonesia Automotive Industry Driving the Rubber Processing Chemicals
Market –
According to the International Organization of
Motor Vehicle Manufacturers (OICA), India, Malaysia, and Indonesia had
witnessed production of 5.17M, 564,800, and 1.34M number of vehicles
respectively in 2018 with a year on year growth rate of 8%, 12.2%, and 10.3%. Due
to the growing economy and greater demand for vehicles from the urban
population, vehicle production in these
countries is poised to experience an increment, which will drive the APAC
rubber processing additives market.
· The APAC
Chemical Industry Generating Revenue Sources for the Rubber Processing
Chemicals Market –
The APAC chemical industry is observing a
perpetual boom since a few years now, and Oxford Economics assessed that the
industry contributed $2.6 trillion to APAC’s GDP in 2017. Rubber
products are used in chemical industries for a myriad of purposes such as paint
spraying, protective garments, adhesive dispensing, crack filling, vacuum
filtration, and others that require hoses, tires, injection parts, rubber
coating, and ducts. The booming APAC chemical industry created growth prospects
for the rubber processing additives market.
· The Japan Automotive
Industry’s Growth to Create Revenue Avenue for the Vendors in the APAC Rubber
Processing Chemicals Market –
The Japan automotive industry observed a
continuous growth in 2018 with 4.88 million vehicles manufactured, and the
production grew 1.5% year on year. Electric
and autonomous vehicles are going to make a penetration in Japan, which will drive
the market for tires and tubes. This will create a lot of opportunities in the
APAC rubber processing additives market.
Rubber industry,
including industrial
rubber products and chloroprene
rubber market will keep gaining traction in APAC, which will
lead to lucrative opportunities in the rubber processing chemicals market.
Rubber Processing
Chemicals Market: The Global Scenario and Growth Drivers –
· The Booming
Global Automotive Industry: The Key End-User for the Rubber Processing
Chemicals Market –
The automotive industry is found to be the key the end-use industry for the rubber processing chemicals market, and the
application will grow at a healthy CAGR of 4% through to 2025. According to the
European Automobile Manufacturer Association (ACEA), 98.1 million motor
vehicles were produced globally in 2018. With
rapid urbanization and a perceptible rise in disposable income, the demand for
vehicles will be growing during the forecast period. Furthermore, the global
automotive industry is poised to observe a revolution with the emergence
of electric
vehicles (EVs), semi-autonomous
and autonomous vehicles, and self-driving
cars & trucks, which will further drive the automotive tire
market. This boom in the automotive industry will create many
opportunities in the rubber industry, which will create revenue sources for the
players in the rubber processing chemicals market.
· The Global
Construction Industry to Create Demand Influx in the Rubber Processing
Additives Market –
As mentioned above, the global construction
industry is poised to breach $8 trillion by 2030. Already, the industry contributes
25.396% to the world’s GDP, according to the World Bank. The
upcoming years will witness an upsurge in construction activities, which will
be fulfilling the sustainable development goals (SDGs) of the United Nations
(UN). Furthermore, the Global Infrastructure Outlook projects that the
worldwide infrastructure investment needs to reach $94 trillion by 2040, and
the figure will translate to at least $79 trillion as per the current trends. This
hefty investment in infrastructure will lead to a demand for rubber products
that are used in the construction industry, which will lead to a growth of the
rubber processing chemicals market.
· The Envisioned
Growth of the Global Aerospace Industry: A Prospective Rubber Processing
Chemicals Marketplace –
According to the International Air Transport
Association (IATA), 4.1 billion passengers flew on a scheduled airline in 2017,
and the figure underwent growth at 7.3% as compared to 2016. The
increasing number of people traveling by airplane is leading to an enhanced
need for airplanes, and the organization also projects production of 39,000
airplanes by 2027.The
aerospace industry is one of the major consumers of rubber as it is used in
auxiliary power units, hydraulic actuators, bleed air valves & fittings,
T-seals, cap-seals, manifold gaskets, and firewall seals. Hence, the projected
growth of the aerospace industry will lead to a demand influx in the rubber
processing additives market.
Apart from the
aforementioned industries, the petrochemical, food & beverages, power
generation, general machinery, and semiconductor industries also utilize
rubber, and therefore, these industries also contribute to the expanding rubber
processing chemicals market size.
Iron & Steel Market:
Competitive Landscape
The major players
crusading for the rubber processing chemicals or additives market share and
positioning themselves ahead of the curve are BASF SE, Solvay S.A., Lanxess
Aktiengesellschaft, Akzo Nobel N.V., R.T. Vanderbilt Holding Company, Inc.,
Eastman Chemicals Company, Arkema Inc., Sumitomo Chemical Company Limited,
China Petroleum & Chemical Corporation or Sinopec, LINKWELL, Merichem
Company, and Emerald Performance Materials LLC.
Talk to one of our sales
representative about the full report by providing your details in the link
below:
https://www.industryarc.com/support.php?id=15081
Related Reports:
a) Rubber
Additives Market
https://www.industryarc.com/Report/11723/rubber-additives-market.html
b) Construction
Chemical Additives Market
https://www.industryarc.com/Report/7511/construction-chemical-additives-market.html
Any other custom
requirements can be discussed with our team, drop an e-mail to [email protected] to discuss
more about our consulting services.
To request for a
proposal, provide your details in the below link:
https://www.industryarc.com/reports/request-quote?id=15081
Media Contact:
Mr. Venkat Reddy
Sales
Manager
Email : [email protected]
Contact Sales: +1-614-588-8538 (Ext-101)