Categories: Chemicals

Rubber Additives Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Rubber Additives Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Rubber Additives Global Market Report 2024, The rubber additives market size has grown strongly in recent years. It will grow from $5.6 billion in 2023 to $6.1 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to automotive industry growth, tire manufacturing expansion, industrial and manufacturing activities, rising construction sector, globalization and trade.

The rubber additives market size is expected to see strong growth in the next few years. It will grow to $8.6 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to focus on sustainable and eco-friendly solutions, urbanization and infrastructure development, advancements in rubber technology, increased use in non-tire applications, regulatory compliance and quality standards. Major trends in the forecast period include shift towards bio-based and sustainable additives, increased use of processing aids, growing demand for flame retardant additives, focus on anti-foaming agents, innovations in colorants and pigments.

Increasing demand for high-performance rubber is expected to propel the growth of the rubber additives market going forward. High-performance rubber refers to the material’s capacity to tolerate rather harsh environmental conditions such as heat, chemicals, and solvents. High-performance natural rubber composites using a carbon nanotube-modified natural fiber reinforcing structure For instance, in April 2022, according to a report shared by the Association of Natural Rubber Producing Countries (ANRPC), a Malaysian-based inter-governmental organization, the natural rubber (NR) market is predicted to improve further in terms of consumption. Inn 2022, the global output was 1.113 million tons, up 3.8% from the same month in 2021, but global consumption increased at a faster rate of 5.8% to 1.206 million tons. Therefore, the increasing demand for high-performance rubber is driving the growth of the rubber additives market.

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The rubber additives market covered in this report is segmented –

1) By Type: Activators, Accelerators, Vulcanization Inhibitors, Plasticizers, Other Types

2) By Application: Tire, Non-Tire

3) By End Use: Automotive, Consumer Goods, Building and Construction, Electrical Insulation

Major companies operating in rubber additives are adopting a strategic partnership approach to provide essential communication services to provide sustainable and high-performance solutions for the industry. Strategic partnerships refer to a process in which companies leverage each other’s strengths and resources to achieve mutual benefits and success. For instance, in December 2021, Cabot Corporation, a US-based chemicals company, partnered with International Flavors & Fragrances Inc. (IFF)., a US-based manufacturing company. With this partnership, they aim to result in the development and commercialization of sustainable reinforcing additives for rubber products, including tires, belts, hoses, gaskets, and automotive weatherstrips.

The rubber additives market report table of contents includes: