Rubber Processing Chemicals Market Size and Forecast 2024-2033|Sinopec Corporation, BASF SE, Sumitomo Chemical Company, Solvay Group, Arkema S.A.

Overview and Scope

Rubber processing chemicals refer to a group of specialized substances used in the manufacturing and processing of rubber-based products. These chemicals are added to the rubber compounds to improve their properties, enhance their performance and facilitate the rubber processing and manufacturing processes

Sizing and Forecast

The rubber processing chemicals market size has grown strongly in recent years. It will grow from $5.44 billion in 2023 to $5.8 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to growth of the automotive industry, industrialization and infrastructure development, consumer goods production, advancements in tire technology.

The rubber processing chemicals market size is expected to see strong growth in the next few years. It will grow to $7.2 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to emerging markets growth, sustainable rubber production, innovations in rubber compounding, automotive trends. Major trends in the forecast period include bio-based rubber chemicals, high-performance additives, digitalization and industry 4.0, recycling and circular economy.

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Segmentation & Regional Insights

The rubber processing chemicals market covered in this report is segmented –

1) By Type: Antidegradants; Accelerators; Flame Retardants; Processing Aids; Other Types

2) By Application: Tire; Non-Tire

3) By End-Use: Automotive; Electronics And Semiconductors; Aerospace And Defense; Industrial; Healthcare; Other End-Uses

Asia-Pacific was the largest region in the rubber processing chemicals market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in rubber processing chemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth

The growth in the automotive sector is expected to propel the growth of the rubber processing chemicals market going forward. The automotive industry refers to the business sector that involves the design, development, production, marketing and sale of motor vehicles, including cars, trucks, motorcycles and other types of vehicles. Rubber processing chemicals are used in the automotive sector to enhance the properties of rubber materials, such as tires, seals, gaskets, hoses and other rubber components used in vehicles. For instance, in May 2023, according to a report shared by the European Automobile Manufacturers Association, a Belgium-based automobile manufacturers association, the global production of motor vehicles increased by 5.7% in 2022 to 85.4 million, up from 2021. Therefore, the growth in the automotive sector is driving the development of the rubber processing chemicals market.

Key Industry Players

Major players in the rubber processing chemicals market are Sinopec Corporation, BASF SE, Sumitomo Chemical Company, Solvay Group, Arkema S.A., Sinochem Group Co. Ltd., Akzo Nobel N.V., Eastman Chemical Company, Lanxess AG, The Chemours Co., Kumho Petrochemicals, Nouryon B.V., Chemtura Corporation, Emery Oleochemicals Group, Behn Meyer Holding AG, Oceanchem Group Limited, Emerald Performance Materials LLC, Nocil Limited, Merchem Limited, PMC Group Inc., Velsicol Chemical Corporation, Vanderbilt Chemicals LLC, Linkwell Rubber Chemicals Co. Ltd., DayGlo Color Corp., Yasho Industries Ltd., Sovereign Chemical Co., IRO Group Inc., Finornic Chemicals Pvt Ltd., Swarup Chemicals Pvt. Ltd.

The rubber processing chemicals market report table of contents includes:

1. Executive Summary

2. Rubber Processing Chemicals Market Characteristics

3. Rubber Processing Chemicals Market Trends And Strategies

4. Rubber Processing Chemicals Market – Macro Economic Scenario

5. Global Rubber Processing Chemicals Market Size and Growt

26. South America Rubber Processing Chemicals Market

27. Brazil Rubber Processing Chemicals Market

28. Middle East Rubber Processing Chemicals Market

29. Africa Rubber Processing Chemicals Market

30. Rubber Processing Chemicals Market Competitive Landscape And Company Profiles

Top Major Players: