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                                  Home Press Releases

                                  Rubber Additives Market Size Forecast to Reach $4.6 Billion by 2026

                                  admin by admin
                                  February 8, 2022
                                  in Press Releases
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                                  (EMAILWIRE.COM, February 08, 2022 ) Rubber Additives Market size is forecast to reach US$ 4.6 billion by 2026, after growing at a CAGR 6% during 2021-2026. Globally, the rising demand for automobile-related products that are both efficient and of high quality is anticipated to raise the demand for rubber additives. Furthermore, increasing usage of rubber additives that is to be applied on the finished product during the ethylenepropylenediene monomer vulcanization process to give it strength and certain qualities is anticipated to boost the market growth. The rising usage of silicone rubber additives to cure speeds, hardness, rheology, and various other physical properties of the cured rubber will also drive the growth of the rubber additives market. Moreover, the increasing usage of flame retardant rubber in the infrastructure sector and rising production of electric vehicles is anticipated to boost the rubber additives industry in the projected time frame.

                                  Impact of Covid-19

                                  Due to the COVID-19 pandemic the automotive production plants were shut down in the year 2020 which further affected growth of the rubber additives market. Due to the import export supply chain disruption, the availability of raw materials declined which further affected the market growth. Furthermore, considering the new normal condition and reopening of several industries in various regions, it is estimated that the market for rubber additives will return to normal conditions in the forecast period (2021-2026).

                                  Rubber Additives Market Segment Analysis- By Rubber Type

                                  Synthetic rubber held the largest share in the rubber additives market in 2020. As compared to natural rubber, synthetic rubber posses superior characteristics such as abrasion resistance and ability to adhere to metals, due to which it is extensively used to manufacture parts such as rubber gaskets, seals, tubing, and more. Rising usage of synthetic rubber owing to its attractive properties has further raised the demand for rubber additives. Furthermore, the increasing usage of silicone rubber additives and ethylenepropylenediene monomer vulcanization rubber in several applications would further drive the growth of the market over the forecast period.

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                                  Report Price: $4500 (Single User License)

                                  Rubber Additives Market Segment Analysis- By Additive Type

                                  Accelerators held the largest share in the rubber additives market in 2020. Increasing usage of accelerators in both natural and synthetic rubbers would drive the growth of the market over the forecast period. Zinc oxide and stearic acid are the two main activators commonly used in the rubber industry. Also, zinc oxide is found to be a substantial sulphur vulcanization activator in the rubber industry. Zinc oxide is a critical element in most rubber products as a vulcanization accelerator, and its effects also contribute to the physical qualities of the finished rubber product. Additionally vulcanized rubber’s anti-aging capabilities are improved by zinc oxide. Thus, the rising demand for accelerators owing to its alluring properties in the rubber industry would further drive the market growth.

                                  Rubber Additives Market Segment Analysis- By Application

                                  Tires held the largest share in the rubber additives market in 2020 and is projected to grow at a CAGR of 8% during the forecast period 2021-2026. Increasing use of additives in rubber to directly improvise the tire performance and wear resistance has uplifted the demand for rubber additives. Since tires have the major applications in the rubber industry, the rising initiatives by several countries in the tire industry would drive the market growth. For instance, The China Rubber Industry Association (CRIA) has released new industry development guidelines for the years 2021 to 2025. Goals for production, technology advancements, and energy usage are all outlined in the standards. By 2025, the country is expected to produce 704 million tires per year, with radials accounting for 96% of total production, including148 million truck/bus radial tires, 527 million passenger radial tires, and 29 million bias truck tires. Radial tires currently account for around 2.5% of the market for agricultural machines. China will also make 54,000 aircraft tires in the period 2021-2025. Thus, the rising production of tires is further estimated to drive the rubber additives market growth over the forecast period.

                                  Rubber Additives Market Segment Analysis- By End Use Industry

                                  The automotive sector held the largest share in the rubber additives market in 2020. Rubber additives are being driven by the increased need for rubber in tire manufacture in the automobile industry. Furthermore, the rising demand for sophisticated and high-tech rubber products in the production of automotive is estimated to raise the demand for rubber additives in the forecast period. Rising usage of silicone rubber parts in the automotive industry would further drive the demand for silicon rubber additives in the forecast period. When silicone rubber parts are exposed to rain, wind, and UV radiation over extended periods of time, their physical properties does not get affected. Thus, due to which silicon rubbers are highly preferred in the rubber additives market. Moreover, in recent years the rising growth of the automotive industry has also raised the market growth. For instance, 2018 to 2019, China’s domestic production of motorcycles increased from 15.5 million to 17.3 million whereas the domestic sales increased from 15.5 million to 17.1 million. Therefore, the rubber additives market is estimated to see an upsurge over the forecast period with the growing automotive industry.

                                  Rubber Additives Market Segment Analysis– By Geography

                                  The Asia Pacific region held the largest share of more than 42% in the rubber additives market in 2020. Globally, the region’s growth in the market is mainly due to the rising investments in the automotive and aerospace and defense sector. Rising production of automotive and aircrafts in emerging economies such as China, Japan, India, and South Korea are increasingly driving the growth of the rubber additives market. For instance, according to the International Trade Administration, China appears to be the world’s largest automotive sector, with the Chinese government predicting the car production to reach 35 million units by 2025. Also, according to the India Brand Equity Foundation (IBEF), by 2038, India would require 2,380 additional commercial airplanes due to increased demand for air travel. Thus, with the rising growth of several end use industries, the market for rubber additives is anticipated to increase over the forecast period.

                                  Rubber Additives Market Drivers

                                  Rising Government Investment in the Infrastructure Sector

                                  The increasing number of infrastructure-related projects is encouraging private participation in infrastructure (PPI) to invest more, thereby creating demand for industrial hoses. In December 2020, FDIs in the construction development sector (townships, housing, built up infrastructure, and construction development projects) and construction (infrastructure) activities invested US$ 23.99 billion according to the Department for Promotion of Industry and Internal Trade (DPIIT). This results in growing infrastructural developments, thereby generating demand for industrial rubber hoses. Moreover, in light of the declining price of the primary commodity, the government intends to promote the use of natural rubber in various infrastructure projects. With the rising infrastructure projects, it can be estimated that the demand for rubber would increase which would further drive the market growth.

                                  Increasing Production of Electric Vehicles (EVs)

                                  Factors such as rising demand for low-emission commuting and government subsidies and tax breaks for long-range, zero-emission vehicles have compelled manufacturers to provide electric vehicles globally. As a result, there is an increasing demand for electric vehicles on the market. It is estimated that rising production of electric vehicles would further raise the demand for tires and uplift the market growth over the forecast period. Countries all over the world have set targets for reducing vehicle emissions by 2050. Governments of various countries have started promoting the development and sale of EVs. For instance, in 2019 total 560,000 electric vehicles were registered in all over Europe according to the European Electric Vehicle Factbook 2019/2020. Also, according to the China Association of Automobile Manufacturers, China’s EV sales (which account for the vast majority of NEV sales) reached 1.3 million units in 2020, up from 1.1 million in 2019. Rising growth of electric vehicles in the upcoming years is therefore expected to drive the demand for rubber in several applications thus, this would uplift the market growth during the forecast era.

                                  Inquiry Before Buying @ https://www.industryarc.com/reports/request-quote?id=11723

                                  Rubber Additives Market Challenges

                                  Fluctuating Prices of Raw Materials will Hamper the Market Growth

                                  The main challenge faced by the rubber additives market is the fluctuating price of raw materials. The short-term price change fluctuations of raw materials such as aniline, carbon disulfide, and other are the main factors hindering the market growth. For instance, the price of aniline was essentially consistent in the first half of 2019, and the price of pure benzene, its upstream raw material, stayed essentially in sync. Jinling and other enterprises subsequently halted production and maintenance, resulting in a flurry of high-level operations up to 8480 yuanper ton(US$ 1326.4 per ton) was resulted. Thus, due to the fluctuating price of raw materials the market growth for rubber additives is estimated to face challenges in the upcoming years.

                                  Rubber Additives Market Landscape

                                  Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the rubber additives market. Major players in the rubber additives market are:

                                  1. BASF SE

                                  2. Lanxess AG

                                  3. Akzonobel N.V.

                                  4. Solvay SA

                                  5. Arkema SA

                                  6. China Petrochemical Corporation (Sinopec)

                                  7. Eastman Chemical Company

                                  8. NOCIL LIMITED

                                  9. China Sunsine Chemical Holdings Limited among others.

                                  Acquisitions/Technology Launches

                                  In May 2020, Solutia, an Eastman Chemical Company subsidiary, completed the acquisition of Akzo Nobel N.V.’s 50% stake in Flexsys, a key supplier of chemicals to the rubber sector.

                                  Related Reports:

                                  A. Silicone Elastomers Market

                                  https://www.industryarc.com/Report/11735/silicone-elastomers-market.html

                                  B. Industrial Rubber Products Market

                                  https://www.industryarc.com/Report/15900/industrial-rubber-products-market.html

                                  For more Chemicals and Materials Market related reports, please click here

                                  About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.



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